3 bedroom end of terrace house for sale

Mirfield Avenue, Oldham, Greater Manchester, OL8

Leasehold £18,950

Property Description

Key features

  • 3 Beds
  • 2 Receptions
  • Fitted Kitchens
  • Fitted Bathrooms
  • Double Glazed
  • New Decor
  • Fully Carpeted

Full description

Tenure: Freehold

Based on the current financial streams this property gives the investor an estimated 125,400 GROSS rental income over the 19 year lease term and a 70,680 NET rental income over this period.

However, with interest rates expected to stay low for the foreseeable future and with demand for rental property increasing, we predict that your estimated net rental income will increase over the 19 year term.

The purchaser then has the option to purchase this property during or after the 19 year option term for a fixed price of 90,000. Alternatively the purchaser can give back the property having retained all the rental income.

Opportunity to increase Rental Income

Similar properties in the area are now being tenanted on a room by room basis. Local rental rate cards show a minimum of charge of 55.00 per week per room. This would give the investor a Gross Rental Income of 11,400 per year and Net Rental Income of 8,660 per annum. ( 43 % Net Yield ) Given these financial figures the property would give rise to an estimated 164,540 Net rental incomeover the 19 year lease term. ( this will further increase given rental demand during the 19 year term)

More information from this agent

Listing History

Added on Rightmove:
24 November 2016

Nearest stations

  • Oldham Werneth (0.8 mi)
  • Oldham Mumps (1.0 mi)
  • Hollinwood (1.4 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

Use the school checker

To view this property or request more details, contact:

Wara Limited, Halifax

Office 7A, Calerdale Business Park, Club Lane, Halifax, HX2 8DA

03339 390808 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Oldham Werneth (0.8 mi)
  • Oldham Mumps (1.0 mi)
  • Hollinwood (1.4 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Wara Limited, Halifax

Office 7A, Calerdale Business Park, Club Lane, Halifax, HX2 8DA

03339 390808 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 1. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Wara Limited, Halifax. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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