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Whitnall Street SK14 - SECURED - Tenanted - Below Market Value 20K

3 Whitnall Street, Hyde SK14 4BW, UK

Off Market BMV

£130,000

Property Description

The price is £20,000 below market value.


Located within the residential area of Hyde, this 3 bedroom is ideally positioned for access to all local shops, facilities and bus routes.

The property is in close proximity of the neighbouring transport links including the trains, trams and motorway networks.

The accommodation comprises lounge, dining / kitchen downstairs, three bedrooms with shared bathroom and WC upstairs.


The property is currently tenanted for £700 - The tenant is a retired lady that pays rent from her private and state pension. She has been in the property for over 10 years and hasn't missed a payment.

She would like to stay long-term and I have explained that she can claim benefits to cover any increase in rent. Potential to increase to £850


Current Yield 6.46% - Potential Yield 7.85%


The tenant has said she is happy with how the property looks and does not want any work doing to it.

Optional refurb (after the tenant leaves) - Total: £18,100 + VAT

• Boiler service/Gas safe certificate 350

• Roof/gutter repair 500

• Consumer unit 500

• Electrical certificate/smoke detectors 450

• Skimming / plastering 1400

• Painting and decorating 3000

• Carpets 3000

• New doors 2100

• Kitchen updating 2600

• Bathroom updating 1400

• Various repairs 1200

• Project management 1600


Comparables


49 Markham Street - 3 Bedrooms Terraced - Sold for £160,000 on 05 Mar 2021

https://www.rightmove.co.uk/house-prices/details/england-75437502-12768802?s=88f25d52473da93295ba872f601b06e315b54d9980c89259f2dd0a9da7c97730#/


46 Markham Street - 2 Bedrooms Terraced - Sold for £157,500 on 30 Jun 2023

https://www.rightmove.co.uk/house-prices/details/england-85732974-19093234?s=421e8b7aa7b07de1e63a78d1fe3fe8e89b261d5acefb00d795cfc3485a8ec288#/


Harbour Farm Road - 2 Bedrooms Terraced - Sold for £150,000 on 05/03/2024

https://www.rightmove.co.uk/properties/86783562#/?channel=RES_BUY


Talbot Road - 2 Bedrooms Terraced - Sold for £175,000 on 16/10/2023

https://www.rightmove.co.uk/properties/140932184#/?channel=RES_BUY


Property Particulars

Buy to Let

Freehold

Tenanted

Property Details

Property Type

Terraced

Bedrooms

3

Bathrooms

1

Estimated Rent

£850

Gross Yield

Yield 7.85%

EPC Grade

D

Property Location

3 Whitnall Street, Hyde SK14 4BW, UK

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