2 Bed Terraced House, Refurb/BRRR, Manchester, M14 5WE, £230,000

Eileen Grove, Manchester, Greater Manchester, M14 5WE - 8 days ago

Leasehold
Refurb/BRRR
ROI: 4%
~68 m²
+12 photos

ValuationOvervalued

Sold Prices£123K - £224K
Sold Prices/m²£1K/m² - £3.6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.4K/m²

Value Estimate

£174,332

 

 

End Value (After Refurb)

£193,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£57,500

Stamp Duty & Legal Fees

£12,700

Refurb Costs

£28,709

Bridging Loan Interest

£6,038

Total Cash In

£106,697

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£193,000

Mortgage (After Refinance)

£144,750

Mortgage LTV

75%

Cash Left In

£106,697

Equity

£48,250

Rent Range

£776 - £1,500

Rent Estimate

£1,184

Running Costs/mo

£860

Cashflow/mo

£324

Cashflow/yr

£3,889

ROI

4%

Gross Yield

6%

Local Sold Prices

50 sold prices from £123K to £224K, average is £169.8K. £1K/m² to £3.6K/m², average is £2.6K/m².

PriceDateDistanceAddressBeds 
£184K09/210.02 mi88, Ealing Avenue, Manchester, Greater Manchester M14 5WF2
£190K03/210.02 mi79, Ealing Avenue, Manchester, Greater Manchester M14 5WF2
£174.9K11/200.02 mi86, Ealing Avenue, Manchester, Greater Manchester M14 5WF2
£220K11/230.08 mi162, Heald Place, Manchester, Greater Manchester M14 5WJ2
£140K05/210.1 mi38, Lowestoft Street, Manchester, Greater Manchester M14 7PU2
£196K11/230.12 mi109, Parkfield Street, Manchester, Greater Manchester M14 7PT2
£177K08/210.12 mi127, Parkfield Street, Manchester, Greater Manchester M14 7PT2
£195K02/230.14 mi520, Claremont Road, Manchester, Greater Manchester M14 5WA2
£135K12/200.16 mi3, Chilworth Street, Manchester, Greater Manchester M14 7PL2
£123K11/200.16 mi25, Chilworth Street, Manchester, Greater Manchester M14 7PL2
£185K09/230.17 mi3, Worthing Street, Manchester, Greater Manchester M14 7PR2
£145K02/210.17 mi15, Worthing Street, Manchester, Greater Manchester M14 7PR2
£169.5K11/200.2 mi54, Yew Tree Road, Manchester, Greater Manchester M14 7PP2
£163.5K07/210.2 mi60, Yew Tree Road, Manchester, Greater Manchester M14 7PP2
£190K10/230.2 mi9, Eva Street, Manchester, Greater Manchester M14 5NX2
£155K02/230.21 mi44, Carnforth Street, Manchester, Greater Manchester M14 7PD2
£200K12/220.22 mi39, Viscount Street, Manchester, Greater Manchester M14 5UH2
£202.7K10/230.23 mi10, Rosford Avenue, Manchester, Greater Manchester M14 7BW2
£128K03/210.24 mi16, Brunt Street, Manchester, Greater Manchester M14 4BD2
£150.5K04/210.25 mi21, Brompton Road, Manchester, Greater Manchester M14 7QA2
£210K12/220.25 mi35, Brompton Road, Manchester, Greater Manchester M14 7QA2
£140K07/230.25 mi53, Horton Road, Manchester, Greater Manchester M14 7QB2
£224K07/230.25 mi55, Horton Road, Manchester, Greater Manchester M14 7QB2
£174K07/210.26 mi69, Thornton Road, Manchester, Greater Manchester M14 7NU2
£182K11/200.26 mi9, Thornton Road, Manchester, Greater Manchester M14 7NU2
£180K11/230.26 mi70, Horton Road, Manchester, Greater Manchester M14 7GB2
£185K01/230.26 mi6, Horton Road, Manchester, Greater Manchester M14 7GB2
£168K11/200.26 mi56, Thornton Road, Manchester, Greater Manchester M14 7WT2
£220K06/230.26 mi32, Thornton Road, Manchester, Greater Manchester M14 7WT2
£143K01/210.27 mi62, Thornton Road, Manchester, Greater Manchester M14 7WT2
£157K09/210.28 mi50, Parkfield Avenue, Manchester, Greater Manchester M14 4FZ2
£157K09/210.28 mi50, Parkfield Avenue, Manchester, Greater Manchester M14 4FZ2
£162K12/210.28 mi3, Carlton Avenue, Rusholme, Manchester, Greater Manchester M14 7WL2
£155K09/210.31 mi29, Heald Avenue, Manchester, Greater Manchester M14 4HH2
£155K09/210.31 mi29, Heald Avenue, Manchester, Greater Manchester M14 4HH2
£175K11/220.31 mi50, Heald Avenue, Manchester, Greater Manchester M14 4HH2
£160K07/230.32 mi59, Crofton Street, Rusholme, Manchester, Greater Manchester M14 7WD2
£165K11/200.34 mi76, Carlton Avenue, Rusholme, Manchester, Greater Manchester M14 7NL2
£165K04/230.34 mi10, Rawcliffe Street, Manchester, Greater Manchester M14 7NH2
£146K11/200.34 mi38, Rawcliffe Street, Manchester, Greater Manchester M14 7NH2
£162.5K08/210.36 mi153, Horton Road, Manchester, Greater Manchester M14 7QD2
£210K03/230.36 mi107, Horton Road, Manchester, Greater Manchester M14 7QD2
£187K05/230.36 mi123, Horton Road, Manchester, Greater Manchester M14 7QD2
£189.3K02/230.36 mi121, Horton Road, Manchester, Greater Manchester M14 7QD2
£195K02/230.36 mi118, Horton Road, Manchester, Greater Manchester M14 7GD2
£142K04/210.36 mi90, Horton Road, Manchester, Greater Manchester M14 7GD2
£160K03/210.36 mi146, Horton Road, Manchester, Greater Manchester M14 7GD2
£189.5K10/200.36 mi103, Thornton Road, Manchester, Greater Manchester M14 7NT2
£170K03/210.36 mi83, Thornton Road, Manchester, Greater Manchester M14 7NT2
£155K11/200.38 mi130, Thornton Road, Manchester, Greater Manchester M14 7WS2

Local Rents

50 rents from £776/mo to £1.5K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,30005/240.01 miEileen Grove, Manchester2
£1,20005/240.1 miWincombe Street, Manchester2
£1,00005/240.11 miCamborne Street, Rusholme, M142
£1,34005/240.11 miCamborne Street, Rusholme, Manchester, M142
£1,34005/240.11 miCamborne Street, Rusholme, Manchester, M142
£1,20005/240.16 mi-2
£1,50005/240.16 miManchester , M142
£1,50003/240.16 miM14 5ND, M142
£88003/240.16 miBoscombe Street, Manchester, Greater Manchester, M142
£1,10005/240.18 miLynton Street, Manchester2
£1,38505/240.19 miLetchworth Street, Rusholme, Manchester, M142
£90005/240.2 miNewport Street, Manchester, M142
£1,00005/240.21 miCarnforth Street, Rusholme, M142
£1,00005/240.22 miWilmslow Road, Rusholme, Manchester, M142
£99505/240.23 miLindum Street, Manchester, M14 4BJ2
£1,20012/240.24 mi-2
£95005/240.25 miLindum Street, Manchester, Greater Manchester, M142
£1,10006/240.25 mi-2
£1,20012/240.25 mi-2
£1,25003/250.25 mi-2
£1,35003/250.25 mi-2
£1,50005/240.26 miWilmslow Road, Manchester, Greater Manchester, M142
£1,10005/240.26 miThornton Road, Fallowfield, M142
£1,30005/240.26 miPark Crescent, Rusholme2
£1,10002/240.27 mi-2
£1,10005/240.28 miCarlton Avenue, Manchester, M142
£1,20005/240.28 miBrockley Avenue, Fallowfield, Manchester2
£87506/240.29 miParkfield Avenue, Manchester2
£1,15005/240.29 miParkfield Avenue, Rusholme, Manchester2
£1,19506/240.29 miGrove House, Brighton Grove, Manchester, M14 5YT2
£1,09505/240.29 miGrove House, Brighton Grove, Manchester, M14 5YT2
£1,07505/240.29 miPLATT LANE, RUSHOLME, Manchester M14 5WH2
£1,19503/240.31 miBrighton Grove, Fallowfield, M14 5YT2
£1,00003/240.31 mi43, M142
£1,00005/240.32 miThornton Road, Manchester2
£1,40005/240.35 miSeedley Street, Rusholme, Manchester, M142
£1,40005/240.35 miSeedley Street, Manchester, M142
£1,40006/240.35 mi-2
£1,00006/240.36 miThornton Road, Manchester2
£1,20003/250.36 mi-2
£1,40005/240.36 miHorton Road, Rusholme, Manchester, M142
£95003/240.37 miBrighton Grove Manchester, M142
£1,20005/240.37 miBlue Moon Way, Manchester, M142
£1,25001/250.37 mi-2
£1,28705/240.38 miGreat Western Street, 2 Bedroom Apartment, Manchester, Greater Manchester, M142
£1,46005/240.38 miGreat Western Street, Manchester, Greater Manchester, M142
£1,46005/240.38 miGreat Western Street, Manchester, Greater Manchester, M142
£1,28705/240.38 miGreat Western Street, 2 Bedroom Apartment, Manchester, Greater Manchester, M142
£77605/240.39 miFlat 2, 36, CARLTON AVENUE, Manchester2
£1,15012/240.39 mi-2

Local Area Statistics

Population in M14

52,853

Population in Manchester

920,095

Town centre distance

1.03 miles away

Nearest school

0.10 miles away

Nearest train station

1.38 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

-42%

Sales demand

Seller's market

Capital growth (5yrs)

+49%

Property History

Listed for £230,000

March 28, 2025

Floor Plans

Description

This well-positioned mid-terraced property offers an excellent blend of location, potential, and convenience. Situated within a stone's throw of Platt Fields Park, a popular green space perfect for outdoor activities, and the Platt Lane Leisure Complex, this property benefits from proximity to a range of recreational facilities. The famous Curry Mile, renowned for its rich array of restaurants, cafes, and shops, is just a short walk away, offering vibrant local culture and dining options. Additionally, excellent public transport links make commuting a breeze, with easy access to both Manchester city centre and the surrounding areas. Handy local amenities are within reach, including supermarkets, schools, and health services.

Currently rented to students until June 2025, this property represents a fantastic buy-to-let investment opportunity, generating reliable rental income. Its location near the University of Manchester and Manchester Metropolitan University makes it especially appealing to students. With no onward vendor chain, the property is ready for a quick sale. Alternatively, it could make an ideal first-time buyer home, offering excellent value in a highly sought-after area.

The property is presented in fair condition and provides a blank canvas for any buyer to add their own stamp. Upon entering, you’ll find an entrance hallway leading to a spacious living room at the front of the property, filled with natural light. The rear dining room is a versatile space and opens to the kitchen area, creating a great layout for both family living and entertaining. Upstairs, there are two generously sized double bedrooms and a family bathroom. While the property is in fair condition, it offers great potential for modernisation or reconfiguration to suit your personal tastes and preferences.

This property provides an ideal opportunity for those seeking a home with character and potential in a vibrant and well-connected part of Manchester. Whether you are a first-time buyer looking for your first home or an investor seeking a profitable rental property, this home offers endless possibilities.

Agent Details

Bridgfords, Withington

0161 524 2534

Next Steps?

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