2 Bed Flat, Refurb/BRRR, Salford, M5 3NB, £118,000

Block A, Quay 5, Ordsall Lane, Salford, M5 3NB - 2 views - 11 days ago

Leasehold
Refurb/BRRR
~68 m²
+2 photos

ValuationFair Value

Sold Prices£102K - £430K
Sold Prices/m²£1.7K/m² - £4.4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.7K/m²

Value Estimate

£118,000

 

 

End Value (After Refurb)

£244,585

Uplift in Value

+107%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£29,500

Stamp Duty & Legal Fees

£7,100

Refurb Costs

£28,876

Bridging Loan Interest

£3,098

Total Cash In

£70,324

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£244,585

Agent Fees (1%)

£2,446

Bridging Loan

£88,500

Bridging Loan Interest

£3,098

Flip Profit

£83,315

Local Sold Prices

51 sold prices from £102K to £430K, average is £172K. £1.7K/m² to £4.4K/m², average is £3K/m².

PriceDateDistanceAddressBeds 
£128K02/210.04 miFlat 19, Miranda Court, Asgard Drive, Salford, Greater Manchester M5 4TN2
£130K05/230.04 miFlat 2, Miranda Court, Asgard Drive, Salford, Greater Manchester M5 4TN2
£127.5K07/230.04 miFlat 11, Miranda Court, Asgard Drive, Salford, Greater Manchester M5 4TN2
£171.5K07/210.06 miApartment 49, Irwell Building, Derwent Street, Salford, Greater Manchester M5 4SS2
£173K11/210.06 miApartment 72, Irwell Building, Derwent Street, Salford, Greater Manchester M5 4SS2
£150K11/220.07 miFlat 42, Cassandra Court, Asgard Drive, Salford, Greater Manchester M5 4TW2
£110K11/200.08 miFlat 41, Cassandra Court, Asgard Drive, Salford, Greater Manchester M5 4TW2
£102K03/210.09 miFlat 101, Imogen Court, Asgard Drive, Salford, Greater Manchester M5 4TQ2
£136.1K01/230.09 miFlat 66, Imogen Court, Asgard Drive, Salford, Greater Manchester M5 4TQ2
£138K03/230.09 miFlat 102, Imogen Court, Asgard Drive, Salford, Greater Manchester M5 4TQ2
£138K07/230.09 miFlat 90, Imogen Court, Asgard Drive, Salford, Greater Manchester M5 4TQ2
£114K11/230.19 miApartment 1, Renolds House, Everard Street, Salford, Greater Manchester M5 4UB2
£153K12/230.19 miRenolds House, Apartment 19, Everard Street, Salford, Greater Manchester M5 4UB2
£180K12/220.19 miApartment 47, Slater House, Woden Street, Salford, Greater Manchester M5 4UE2
£210K03/210.29 mi19, Woollam Place, Manchester, Greater Manchester M3 4JJ2
£230K08/210.29 mi32, Potato Wharf, Manchester, Greater Manchester M3 4NB2
£212K09/210.29 mi28, Potato Wharf, Manchester, Greater Manchester M3 4NB2
£208K02/210.33 mi133d, Liverpool Road, Manchester, Greater Manchester M3 4JN2
£240K04/210.33 mi127f, Liverpool Road, Manchester, Greater Manchester M3 4JN2
£250K07/210.34 miFlat 301, Former St. Georges Church, Arundel Street, Manchester, Greater Manchester M15 4JZ2
£260K06/230.34 miFlat 108, Former St. Georges Church, Arundel Street, Manchester, Greater Manchester M15 4JZ2
£210K09/210.35 miFlat 202, Former St. Georges Church, Arundel Street, Manchester, Greater Manchester M15 4JZ2
£130K01/210.4 miFlat 29, Thomas Court, Beattock Close, Manchester, Greater Manchester M15 4JA2
£430K01/230.41 miSuite 509, Middle Warehouse, Castle Quay, Manchester, Greater Manchester M15 4NT2
£400K04/210.41 miApartment 310, Middle Warehouse, Castle Quay, Manchester, Greater Manchester M15 4NT2
£350K04/210.41 miApartment 301, Middle Warehouse, Castle Quay, Manchester, Greater Manchester M15 4NT2
£220K06/210.5 mi29, Rozel Square, Manchester, Greater Manchester M3 4FQ2
£294K12/200.51 mi11, Culvercliff Walk, Manchester, Greater Manchester M3 4FL2
£277K07/210.51 mi1, Culvercliffe Walk, Manchester, Greater Manchester M3 4FL2
£155K09/200.53 mi37, Greenwood Terrace, Salford, Greater Manchester M5 3GH2
£153.5K03/210.54 mi41, Greenwood Terrace, Salford, Greater Manchester M5 3GH2
£285K06/210.54 mi28, Porchfield Square, Manchester, Greater Manchester M3 4FG2
£215K12/220.58 mi326, City Road, Manchester, Greater Manchester M15 4FA2
£148K05/210.59 mi94, Jackson Crescent, Manchester, Greater Manchester M15 5AA2
£173.5K12/220.59 mi86, Jackson Crescent, Manchester, Greater Manchester M15 5AA2
£172.5K06/230.59 mi94, Jackson Crescent, Manchester, Greater Manchester M15 5AA2
£170K12/220.6 mi44, Jackson Crescent, Manchester, Greater Manchester M15 5AA2
£165K09/210.61 miFlat 17, Trinity Court, Cleminson Street, Salford, Greater Manchester M3 6DX2
£205K03/230.61 miFlat 32, Trinity Court, Cleminson Street, Salford, Greater Manchester M3 6DX2
£276.5K02/210.61 miFlat 11, Old Court House, Encombe Place, Salford, Greater Manchester M3 6FJ2
£152.5K02/230.61 miFlat 30, Trinity Court, Cleminson Street, Salford, Greater Manchester M3 6DX2
£200K03/230.61 miFlat 28, Trinity Court, Cleminson Street, Salford, Greater Manchester M3 6DX2
£172K03/240.64 mi7, St Wilfrids Street, Manchester, Greater Manchester M15 5XE2
£170K09/210.7 miFlat 12, Model Lodging House, Bloom Street, Salford, Greater Manchester M3 6AJ2
£330K12/220.7 miFlat 36, Model Lodging House, Bloom Street, Salford, Greater Manchester M3 6AJ2
£170K02/230.71 mi17, Radclyffe Mews, Salford, Greater Manchester M5 3GD2
£178K03/230.71 mi15, Radclyffe Mews, Salford, Greater Manchester M5 3GD2
£170K06/230.74 mi22, Brotherton Drive, Salford, Greater Manchester M3 6BH2
£170K06/230.74 mi22, Brotherton Drive, Salford, Greater Manchester M3 6BH2
£157.5K04/210.75 mi15, Shawgreen Close, Manchester, Greater Manchester M15 4DR2
£138K07/210.75 mi324a, Stretford Road, Manchester, Greater Manchester M15 5TP2

Local Rents

50 rents from £895/mo to £3.5K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,70005/240.02 miWilburn Basin, Salford2
£1,20005/240.03 miOrdsall Lane, Salford2
£1,10002/240.05 mi-2
£1,25005/240.05 miIrwell Building, Salford, M52
£1,55012/240.06 mi-2
£1,49512/240.06 mi-2
£1,20005/240.06 miThe Irwell Building, Derwent Street2
£1,32512/240.06 miThe Riley Building, Salford, M52
£1,25005/240.06 mi-2
£1,25001/250.06 mi-2
£1,37505/240.06 miWilburn Basin Block D, Salford, Manchester, M52
£1,17505/240.06 miWilburn Basin, Salford, Manchester City Centre, M52
£1,27501/250.07 mi-2
£1,51205/240.07 miSilkbank Wharf, 21 Derwent Street, Manchester2
£1,49505/240.07 miSilkbank Wharf, 21 Derwent Street, Manchester2
£3,50002/250.07 mi-2
£1,25005/240.08 miOrdsall Lane, Ordsall Lane, M52
£3,50002/250.08 mi-2
£1,25005/240.1 miThe Riley Building, Derwent Street, Manchester City Centre, Salford, M52
£1,25005/240.1 miThe Riley Building, Derwent Street, Manchester City Centre, Salford, M52
£89505/240.1 miThe Riley Building, Derwent Street, M52
£1,35003/250.1 mi-2
£1,24505/240.1 miImogen Court, Regent Park, Salford, Manchester, M5 4TQ2
£1,30005/240.1 miRegent Road, Manchester2
£1,30005/240.1 miRegent Road, Castlefield, Manchester2
£1,40005/240.1 miRegent Road, Castlefield, Manchester2
£1,30005/240.1 miRegent Road, Manchester, M32
£1,10005/240.1 miDelaney Building, Salford, M52
£1,15005/240.1 miDelaney Building, M52
£1,57505/240.1 miOne Regent, 1 Regent Road, Manchester, M32
£1,60005/240.1 miOne Regent, 1 Regent Road, Manchester, M32
£1,70002/250.1 mi-2
£1,25005/240.1 miOne Regent, Manchester2
£1,30002/240.1 mi-2
£1,35012/240.1 mi-2
£1,20001/250.1 mi-2
£1,27503/250.1 mi-2
£1,28003/250.1 mi-2
£1,30005/240.1 miOne Regent, 1 Regent Road, Manchester, M32
£1,25001/250.1 mi-2
£1,80012/240.1 mi-2
£1,35003/250.1 mi-2
£1,35005/240.11 miOne Regent, 1 Regent Road, Manchester, M32
£1,45005/240.11 miOne Regent, 1 Regent Road, Manchester, M32
£1,40001/250.11 mi-2
£1,40005/240.11 miWilburn Basin, Manchester, M52
£1,30005/240.11 miOrdsall Lane, Salford, M52
£1,20005/240.11 mi1 Regent Road, Manchester2
£1,45005/240.11 miWilburn Basin, Orsdall Lane2
£1,42505/240.11 miBlock B Wilburn Basin, Ordsall Lane, Salford, M52

Local Area Statistics

Population in M5

14,445

Population in Salford

88,697

Town centre distance

2.56 miles away

Nearest school

0.50 miles away

Nearest train station

0.42 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+35%

Sales demand

Buyer's market

Capital growth (5yrs)

+6%

Property History

Listed for £118,000

March 11, 2025

Floor Plans

Description

  • NO VENDOR CHAIN! +
  • Currently tenanted till April 2025 +
  • Two bedroom, first floor apartment +
  • Hallway +
  • Open plan lounge/diner +
  • Fitted kitchen +
  • Fitted bathroom +
  • Gated parking available +
  • Current rent achieved of £930.00pcm - vacant from April 2025 +
  • In need of some updating +

NO VENDOR CHAIN! VIEWINGS AVAILABLE FROM 13th APRIL....CALL TO REGISTER YOUR INTEREST. HOME ESTATE AGENTS are pleased to offer for sale this first floor two bedroom first floor apartment located on this popular modern development! Accommodation comprises from hallway, open plan lounge/dining/kitchen, two double bedrooms and a fitted bathroom suite. The property is double glazed and is heated via electric heaters. The property has one allocated parking space in the communal and gated car park to the rear. Ideally positioned close to Salford Quays and access to Manchester City Centre! In need of some updating and ideally offered with NO VENDOR CHAIN! Currently tenanted at £930.00pcm however will be vacant from early April 2025. Call HOME on to view!

Hallway -

Open Plan Living Space - 6.02m x 3.99m (19'9 x 13'1) -

Bedroom One - 5.82m x 2.87m (opening to 2.97m) (19'1 x 9'5 (open -

Bedroom Two - 2.84m x 2.64m (9'4 x 8'8) -

Bathroom - 2.34m x 1.88m (7'8 x 6'2) -

Sales Info - We are advised that the property is leasehold. We are advised that the ground rent is £150.00 per annum and the annual service charge is approx. £1,487.28.
We are advised that the current council tax band is band B.
The current EPC rating is D.

Important Information - - PLEASE NOTE: Home Estate Agents have not tested the services and appliances described within this document (including central heating systems), and advise purchasers to have such items tested to their own satisfaction by a specialist. All sizes quoted and floorplans are approximate and are for illustration only.

Making an offer: if you are interested in this property, please contact us at the earliest opportunity prior to contacting a bank, building society or solicitor. Failure to do so could result in the property being sold elsewhere and could result in you incurring unnecessary costs such as survey or legal fees. You will be required to provide proof and evidence of funding for any offers made prior to any offer being formally accepted. To comply with the money laundering regulation and terrorist financing regulations 2022, you will be required to complete mandatory money laundering identification checks via our third party provider and provide identification and proof of address before proceeding.

Agent Details

Home Estate Agents, Monton

0161 524 0239

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪