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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

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