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Wellington Street East, Salford - Image 1
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Wellington Street East, Salford

North West

£350,000
Listed on 17/08/2024

Property Details

Bedrooms
3
Type
Terraced house
Area
1528 sqft

Description

This three-bedroom mid-terrace house presents a solid opportunity for renovation and investment. While the property requires modernization, its layout and features offer a promising foundation for those looking to create a comfortable family home or rental unit. Upon entering, you are greeted by a hall that leads to various rooms, including a guest WC. The property boasts two connecting reception rooms—a lounge and dining room—providing flexible living space. The lounge is generously sized and features a bay window that allows ample natural light, making it an inviting area to relax. The dining room connects conveniently to the kitchen, which has considerable potential with its ample wall and base units, integrated appliances, and space for further enhancements. In addition to the main accommodation, there is a utility room that opens directly to the rear yard, allowing for easy access and functionality. Upstairs, you'll find three bedrooms; all are spacious enough to accommodate family needs or can be configured for different uses if desired. The bathroom includes basic fixtures but presents an ideal canvas for updates. The outdoor spaces consist of an enclosed front garden with a shrubbery border and a small rear yard. Given the location's proximity to local shops, schools, and places of worship, this property benefits from convenience while also offering potential appeal as a rental investment or family residence. The surrounding neighborhood is easily accessible via major roads and public transport links, enhancing its attractiveness for future developments or renovations. With gas central heating already installed and select double glazing in place, this home not only offers immediate living options but also significant potential for value addition through renovations. This property stands out not just as a dwelling but as an opportunity for those with vision who can see beyond its current state to transform it into something special.

Investment Analysis

(M7 area)

Below Market Value

This property is priced -11.6% below area average per sq ft

-11.6%
Potential saving
This Property
£229/sq ft
Area Average
£259/sq ft
Avg Rent (weekly)
£281
Avg Yield
5.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£435,663
10% above area average per sq ft
Potential ROI
+11.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
21
Average per month
Market Turnover
23%
Properties sold annually

Local Market Trend (M7)

Area prices are rising by +5.4% over the last 12 months
3 year growth: 6.4%
5 year growth: 38.5%
Investment Disclaimer: Analysis based on M7 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Wellington Street East, Salford
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,282
Based on a loan of £262,500 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE