53 Oak Street, Shaw, Oldham, OL2 8EJ

Description

Two bedroom terrace property being sold with a tenant in situ and situated on Oak Street in Shaw, Oldham. A fantastic opportunity to add to an existing portfolio or start with an already tenanted investment producing an income of £595 pcm / £7,140 pa.

Accommodation

Ground floor: entrance vestibule, living room, kitchen. First floor: bedroom one, bedroom two, shower room.

Location

Located in a predominantly residential area, Oak Street is well positioned for access to the amenities and facilities of Shaw town centre, including shops, supermarkets, schools, leisure facilities and local services. Shaw also benefits from excellent transport connections, with convenient road links providing access towards Oldham, Rochdale and Manchester, making the area popular with commuters and investors.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £100,000 to £203,000, with a median of £160,000. A base GDV of £160,000 is used, with £140,000–£203,000 as an evidence-supported comparable range. Condition differences are unknown.

Investment Snapshot

Strategy Recommendation

BTL acquisition is the most suitable strategy, subject to tenancy, condition and legal-pack checks. The existing income is useful, but do not underwrite the higher advertised rents without evidence.

Works Required

No refurbishment works are evidenced. Verify condition, tenant documentation, EPC position and legal-pack requirements before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £160,000 base GDV, 75% refinance is approximately £120,000. Against an assumed guide-price acquisition and known stated costs totalling £92,460, this indicates £27,540 of potential capital release before finance, tax, legal and unknown works costs. Actual refinancing depends on valuation, lender criteria and tenancy evidence.

Buy-to-Let Analysis

At the existing rent of £595 pcm, annual income is £7,140. This produces 7.93% gross yield against the £90,000 guide and 7.72% against guide price plus the £2,100 minimum administration fee and £360 search fee. Advertised local rents of £850–£925 pcm are not achieved-rent evidence and are not guaranteed for this tenancy.

Flip Analysis

The comparable evidence supports a £160,000 base GDV, but refurbishment costs, selling costs and condition are unknown. A reliable flip surplus cannot therefore be calculated.

Investor Risks & Due Diligence

• Current rent of £595 pcm is materially below advertised local asking rents.

• Advertised rental listings are asking rents, not achieved rents.

• Property condition and any required works are not evidenced.

• Additional legal-pack disbursements may apply beyond the stated minimum fees.

• Comparable sale prices vary substantially from £100,000 to £203,000.

• Leasehold title requires legal review despite the stated long lease.

Recommendation

BTL acquisition is the most suitable strategy, subject to tenancy, condition and legal-pack checks. The existing income is useful, but do not underwrite the higher advertised rents without evidence.

Strategy Rating

Analysis Confidence

Strong same-street sales and existing rent evidence are available, but property condition, tenancy terms, legal disbursements and achieved market rent are incomplete.