latest deal Aug18 Mersey Rd North Failsworth Manchester sorry it's gone!


We have secured under offer the above property, and we think this is a very good buy in today's market. 

It is a mid-terrace (with a small garden in front and quite a large square yard in the rear) brick and tiled house in Failsworth, which is an area well located, easily rented, and with good growth potential (prices are rising strongly currently there) and offering good returns.
We highly recommend this property.

The agent has now agreed to accept our offer of 95k stc
This property is a mid terrace 2 up 2 down very well  located in a popular , very nice  area of Failsworth and is generally in good condition and should not need much input to let .This  street and neighbouring streets have a  large proportion of larger properties which means a better area with a large proportion of homeowners .

The property has 2 bedrooms one large double and one single
The property has a nice kitchen as seen on pictures.
We estimate a rental income of around 575 pcm
The property prices in this area are highly on the rise and it  is extremely hard to find anything to buy at the right price with a good return on investment .(We are  hardly managing to get our hands on anything at a good price)
The property seems to  recently have had the staircase moved from the front of the property to the rear of the property ,we therefore advise the buyer to point this out to the surveyor  just to make sure that the structural is sound.  The alteration makes the front living room much bigger and more attractive.

I enclose link for property pictures and information

Thank You

Approximate financial projection (but we don't have a crystal ball!)

Purchase price £95000
Finder's fee £2500
Legals £1200
Survey £450
Works allow £1000
Stamp duty 3% £2850
So total outlay  £103,000
Expected rental income £575pcm = £6900pa = 6.7% gross yield
Net rental income after management and average repairs £5460pa = 5.3% net yield.

We highly recommend this purchase.  It is almost impossible to get a deal like this nowadays, and we do need to give a name and ID and proof of funds to make sure, in today's very strong market, that no-one gazumps us, so if you are interested (and we think you should be!) please get back to us asap with confirmation.

With best regards,