2 Bed House, Refurb/BRRR, Oldham, OL9 8HH, £140,000

Chestnut Street, Chadderton, Oldham, Greater Manchester, OL9 8HH - 6 views - 6 months ago

Sold STC

Leasehold

BTL

Refurb/BRRR

ROI: 5%

~68 m²

+8 photos

ValuationOvervalued

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Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£35,000£35,000
Stamp Duty & Legal Fees	£5,400£5,400
Refurb Costs	£28,800£28,800
Bridging Loan Interest	£3,675£3,675
Total Cash In	£74,625£74,625

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£143,896£143,896
Mortgage (After Refinance)	£107,922£107,922
Mortgage LTV	75%75%
Cash Released	£2,922£2,922
Cash Left In	£71,703£71,703
Equity	£35,974£35,974
Rent Range	£800 - £1,100£800 - £1,100
Rent Estimate	£955
Running Costs/mo	£661£661
Cashflow/mo	£294£294
Cashflow/yr	£3,532£3,532
ROI	5%5%
Gross Yield	8%8%

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Local Rents

34 rents from £800/mo to £1.1K/mo, average is £950/mo.

Rent	Date	Distance	Address	Beds	Type
£995	01/25	0.06 mi	-	2	Terraced House
£950	06/24	0.1 mi	-	2	Terraced House
£995	07/24	0.12 mi	-	2	Terraced House
£1,050	07/24	0.12 mi	-	2	Terraced House
£950	06/24	0.13 mi	-	2	Terraced House
£1,000	03/25	0.15 mi	-	2	Terraced House
£900	08/24	0.16 mi	-	2	Terraced House
£925	03/25	0.16 mi	-	2	Terraced House
£995	08/24	0.2 mi	Rose Street, Oldham, OL9	2	Terraced House
£995	08/24	0.23 mi	Rose Street, Oldham, OL9	2	Terraced House
£900	06/24	0.26 mi	Lancaster Street, Chadderton, Oldham	2	Terraced House
£1,100	02/25	0.32 mi	-	2	Terraced House
£950	02/25	0.32 mi	-	2	Terraced House
£800	07/24	0.34 mi	Coalshaw Green Road, Chadderton	2	Terraced House
£950	02/25	0.36 mi	-	2	Terraced House
£1,050	02/25	0.36 mi	-	2	Terraced House
£850	06/24	0.39 mi	-	2	Terraced House
£1,000	06/24	0.43 mi	Teasdale Close, Oldham	2	Flat
£895	06/24	0.43 mi	-	2	Semi-Detached House
£895	08/24	0.46 mi	-	2	Terraced House
£1,075	02/25	0.49 mi	-	2	Terraced House
£925	03/25	0.51 mi	-	2	Semi-Detached House
£875	02/25	0.51 mi	-	2	Terraced House
£900	08/24	0.53 mi	Whitegate Lane, Chadderton, Oldham	2	Terraced House
£900	08/24	0.53 mi	Whitegate Lane, Chadderton, Oldham	2	Terraced House
£925	03/25	0.53 mi	-	2	Terraced House
£900	08/24	0.55 mi	Wesley Street, Failsworth, Manchester	2	Terraced House
£895	05/24	0.55 mi	Wesley Street, Failsworth, Manchester	2	Terraced House
£925	12/24	0.57 mi	-	2	Terraced House
£1,100	07/24	0.59 mi	Glenham Way, Oldham, Lancashire, OL9	2	Flat
£1,100	12/24	0.6 mi	-	2	Terraced House
£950	07/24	0.61 mi	Minor Street, Failsworth, Manchester	2	Terraced House
£950	07/24	0.61 mi	Minor Street, Failsworth, Manchester	2	Terraced House
£1,100	06/24	0.61 mi	-	2	Terraced House

Local Area Statistics

Population in OL9	40,52840,528
Population in Oldham	182,174182,174
Town centre distance	2.79 miles away2.79 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.31 miles away0.31 miles away

Rental growth (12m)	+27%+27%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+53%+53%

Property History

Listed for £140,000

September 17, 2024

Floor Plans

Description

NO CHAIN +
REQUIRES MODERNISATION +
REAR GARDEN +
OFF-STREET PARKING +
POPULAR LOCATION +
CLOSE TO LOCAL TRANSPORT LINKS +
COUNCIL TAX: A | EPC: C +
LEASEHOLD: 995 years from November 1937 +
GROUND RENT: £2 p/a +

NO CHAIN - While requiring internal modernisation, this two bedroom mid-town house is perfectly situated for commuters. EPC: C

Ryder & Dutton are pleased to offer for sale a property ideal for first time buyers and buy to let investors alike on Chestnut Street in Chadderton, Oldham.

The nearest Metrolink station is a short walk just off Coalshaw Green Park while the closest junction for the M60 is right round the corner at the bottom of Long Lane. Nearby you will also find local schools within easy reach along with numerous shops/supermarkets.

Internally, while requiring some modernisation, there is a living room and kitchen/dining space on the ground floor. To the first floor there are two good sized double bedrooms and a family bathroom.

Externally, the property enjoys a patio garden at the front, doubling as off-street parking and a larger than average private enclosed rear garden.