2 Bed Flat, Single Let, Rochdale, OL11 5LQ, £105,000

Apartment 10, 2 Paperhouse Close, Rochdale, Lancashire, OL11 5LQ - 4 views - 2 months ago

Sold STC
Leasehold
Auction
BTL
ROI: 10%
~68 m²
+4 photos

ValuationUndervalued

Sold Prices£65K - £449.9K
Sold Prices/m²£1K/m² - £2.5K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.5K/m²

Value Estimate

£116,308
BMV11%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£26,250

Stamp Duty & Legal Fees

£4,350

Total Cash In

£30,600

 

 

Cash Out

 

Rent Range

£700 - £1,500

Rent Estimate

£759

Running Costs/mo

£500

Cashflow/mo

£259

Cashflow/yr

£3,109

ROI

10%

Gross Yield

9%

Local Sold Prices

36 sold prices from £65K to £449.9K, average is £111.3K. £1K/m² to £2.5K/m², average is £1.7K/m².

PriceDateDistanceAddressBeds 
£255K06/210.1 mi5, Acer Close, Rochdale, Greater Manchester OL11 5NS2
£136K12/230.26 mi14, Store Street, Rochdale, Greater Manchester OL11 5SR2
£449.9K02/221.11 mi1, Teal Court, Rochdale, Greater Manchester OL11 5RG2
£100K03/231.54 mi2, Ford Gardens, Rochdale, Greater Manchester OL11 4DZ2
£90K03/221.55 mi6, Ford Gardens, Rochdale, Greater Manchester OL11 4DZ2
£110K08/221.56 mi75, Dell Road, Rochdale, Greater Manchester OL12 6AZ2
£108K09/231.73 mi91, Dell Road, Rochdale, Greater Manchester OL12 6AZ2
£92K10/201.73 mi91, Dell Road, Rochdale, Greater Manchester OL12 6AZ2
£89K12/201.73 mi69, Dell Road, Rochdale, Greater Manchester OL12 6AZ2
£130K03/241.73 mi61, Dell Road, Rochdale, Greater Manchester OL12 6AZ2
£105K04/231.73 mi47, Dell Road, Rochdale, Greater Manchester OL12 6AZ2
£115K07/221.73 mi85, Dell Road, Rochdale, Greater Manchester OL12 6AZ2
£97K07/231.73 mi11a, Beaufort Street, Rochdale, Greater Manchester OL12 7EP2
£162K01/242.06 miFalinge Manor Mews, Apartment 11, Falinge Road, Rochdale, Greater Manchester OL12 6RU2
£121K12/202.06 miApartment 24, Falinge Manor Mews, Falinge Road, Rochdale, Greater Manchester OL12 6RU2
£128K02/242.06 miFalinge Manor Mews, Apartment 14, Falinge Road, Rochdale, Greater Manchester OL12 6RU2
£83K01/212.35 mi19, Ajax Street, Rochdale, Greater Manchester OL11 3HN2
£65K03/232.35 mi17, Ajax Street, Rochdale, Greater Manchester OL11 3HN2
£120K01/242.37 mi19, Abbott Street, Rochdale, Greater Manchester OL11 3HT2
£100K03/242.39 mi6, Schofield Street, Heywood, Greater Manchester OL10 1DH2
£122.5K11/222.46 mi12, Jacob Bright Mews, Rochdale, Greater Manchester OL12 6JF2
£115K08/222.46 mi8, Jacob Bright Mews, Rochdale, Greater Manchester OL12 6JF2
£80K11/222.46 mi65, Broadoaks, Bury, Greater Manchester BL9 7SU2
£121K01/242.47 mi44, Jacob Bright Mews, Rochdale, Greater Manchester OL12 6JF2
£120K04/212.47 mi36, Jacob Bright Mews, Rochdale, Greater Manchester OL12 6JF2
£96.7K11/232.47 mi5, Jacob Bright Mews, Rochdale, Greater Manchester OL12 6JF2
£120K07/232.47 mi107, Broadoaks, Bury, Greater Manchester BL9 7SU2
£105K09/212.47 mi73, Broad Oaks, Bury, Greater Manchester BL9 7SU2
£125K07/212.47 mi75, Broad Oaks, Bury, Greater Manchester BL9 7SU2
£125K11/222.47 mi61, Broadoaks, Bury, Greater Manchester BL9 7SU2
£84K02/222.49 miFlat 9, Makin Court, Schofield Street, Heywood, Greater Manchester OL10 1DR2
£112.5K12/222.6 miThe Westcombe Building, 47, Sydney Barnes Close, Rochdale, Greater Manchester OL11 3DA2
£95K07/232.6 miThe Westcombe Building, 5, Sydney Barnes Close, Rochdale, Greater Manchester OL11 3DA2
£120K08/232.6 miThe Westcombe Building, 25, Sydney Barnes Close, Rochdale, Greater Manchester OL11 3DA2
£102.5K10/232.89 miThe Oaklands, 206, Fairway, Rochdale, Greater Manchester OL11 3BZ2
£85K09/232.9 mi8, Village Court, Whitworth, Rochdale, Lancashire OL12 8RH2

Local Rents

12 rents from £700/mo to £1.5K/mo, average is £885/mo.

RentDateDistanceAddressBeds 
£87506/240.18 miRedfern Way Norden 2
£70012/240.24 miIndustry Street, Norden, Rochale, OL112
£77512/240.25 mi-2
£77512/240.25 mi-2
£70006/240.33 miEdenfield Road, Norden, Rochdale OL11 5TA 2
£79506/240.48 miShawfield Lane, Norden, OL12 7RQ2
£99512/240.51 miBaitings Row, Over Town Lane, Rochdale, Greater Manchester, OL122
£1,10004/240.52 mi-2
£1,15003/250.52 mi-2
£1,10006/240.52 miInglefield, Rochdale, OL112
£89503/250.57 mi-2
£1,50003/250.59 mi-2

Local Area Statistics

Population in OL11

45,506

Population in Rochdale

128,851

Town centre distance

2.79 miles away

Nearest school

0.20 miles away

Nearest train station

2.63 miles away

 

 

Rental growth (12m)

+56%

Sales demand

Balanced market

Capital growth (5yrs)

+26%

Property History

Listed for £105,000

February 18, 2025

Description

For Sale By Auction on Thursday 13 March 2025

*Guide Price £105,000

Leasehold 2 Bedroom Flat Let At £10,740 PA

Description
Leasehold first floor flat comprising of an open plan living room, bathroom and two bedrooms.
*Please note - photographs are before the tenancy agreement commenced, the Auctioneers have not been able to inspect the property internally - and therefore are unable to confirm the condition or layout of the property*

Situation
The property is situated in the residential area of Paperhouse Close close to Rochdale town centre with a vast array of independent shops, cafes and restaurants, with Rochdale railway station approximately 3.7 miles away. Regular transport to Manchester city centre being approximately 15 minutes away.
Location Pin (What3Words): yesterday.passages.shape

Accommodation
Open Plan Living Room
Kitchen
Bedroom 1
Bedroom 2
Bathroom
Total Floor Area - 55 sq.m.

NB WE DRAW YOUR ATTENTION TO THE SPECIAL CONDITIONS IN THE LEGAL PACK, REFERRING TO OTHER CHARGES IN ADDITION TO THE PURCHASE PRICE. PLEASE ENSURE YOU READ THE SPECIAL CONDITIONS THOROUGHLY

Tenure
Leasehold 125 years from 1st January 2007 (approximately 106 years remaining)
Ground rent - £50pa fixed

Tenancies
Let on an Assured Shorthold Agreement from the 16th August 2024, expires 15th August 2025, at a rent of £895.00pcm (£10,740pa).

Council Tax - Band C

EPC Rating - C

Agent Details

Austin Gray, Auction House Sussex

01273 109784

Next Steps?

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