9 Ten Houses, Oldham, Lancashire OL8 2HF

Description

A vacant two bedroom mid terrace property set in a quiet and rural location benefitting from two assigned parking spaces along with double glazing and central heating. Internally, the ground floor comprises a dining kitchen and reception room with two bedrooms and bathroom on the first floor and would benefit from some cosmetic updating in parts. Externally there is a good size rear yard.

Accommodation

Ground Floor: Kitchen; Living Room. First Floor: Bedrooms x 2; Bathroom.

Location

Ten Houses is a small row of period terraced properties in a rural setting accessed via Alt Lane. Although the property enjoys a quiet and peaceful setting there are plenty of local amenities and facilities in the surrounding area including shops and schools. Oldham town centre is located just 2 miles to the north.

Tenure / Property Information

Investment Analysis

The strongest evidence is the completed sale of 5 Ten Houses at £172,000 on 11 May 2026. Older sales in the same row range from £145,000 to £158,000. A base GDV of £172,000 is supportable, with £158,000 used as a conservative lower scenario. The £150,000 guide is 87.2% of the base GDV before buyer premium and works. The property requires cosmetic updating in parts, and the LPG combi boiler is disconnected and requires recommissioning, but no works costs are supplied.

Investment Snapshot

Strategy Recommendation

Potentially suitable for a cautious BTL assessment at or near guide, subject to confirming title, special-condition fees, achievable rent and the cost of recommissioning the heating. Do not set a maximum bid without a verified works budget and full auction legal pack.

Works Required

Cosmetic updating in the areas identified by the auction description. Recommission the existing LPG central-heating boiler, or assess reverting to the existing Economy 7 storage-heater wiring. No cost allowance can be established from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £172,000 base GDV, 75% refinancing equates to £129,000. However, total project cost cannot be calculated because no refurbishment allowance, legal costs, finance costs or other special-condition fees are supplied. Cash left in and post-refinance returns are therefore unquantified.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £895 pcm, equivalent to £10,740 annually; no achieved rent or auctioneer estimate is available. This produces a 7.16% gross yield against the £150,000 guide before the 1.8% buyer premium, works, finance, tax, insurance, maintenance and voids. The rent appears potentially supportive of a BTL strategy, but net yield and affordability cannot be established.

Flip Analysis

The base GDV is £172,000 against the £150,000 guide, leaving £22,000 before the £2,700 buyer premium, refurbishment, finance, legal, selling and other costs. A reliable flip surplus cannot be calculated because works and selling costs are unsupported. The £158,000 lower GDV scenario provides materially less margin.

Investor Risks & Due Diligence

• The LPG combi boiler is disconnected and requires recommissioning; the cost and operability are unconfirmed.

• The property requires cosmetic updating, but no refurbishment budget is available.

• The £895 pcm figure is an advertised asking rent, not an achieved or passing rent.

• Buyer premium of 1.8% applies, with additional special-condition fees possible.

• Tenure and other title information are not supplied.

• The lower same-row comparable evidence is between £145,000 and £158,000, creating downside risk to the £172,000 base GDV.

Recommendation

Potentially suitable for a cautious BTL assessment at or near guide, subject to confirming title, special-condition fees, achievable rent and the cost of recommissioning the heating. Do not set a maximum bid without a verified works budget and full auction legal pack.

Strategy Rating

Analysis Confidence

Recent same-row sold evidence, guide price and one advertised rental are available, but tenure, EPC, achieved rent, refurbishment costs, legal-pack fees and full project costs are not supplied.