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Year 5 disposal
BMV -46%
⊞ View all 15
50/ 100
Caution
Real 9.80% return before costs but flagged risks need pricing in.
Why it works
- 9.80% return before costs — above-market
- Priced below market -46% vs 12 nearby sold (last 12 mo) — instant equity
- Stress Rent-covers-mortgage check PASS at 6.5% rate stress — lender-friendly
Why to be cautious
- Monthly profit −£236/mo — significantly negative — real recurring drain
- -3.9% 5y IRR — capital outlay disproportionate to returns
- EPC band not stated — verify the certificate before offering (2030 MEES minimum is band C).
Property research tool — not a regulated financial service. Numbers are point-in-time estimates; how we decide →
Monthly cashflow
−£236/mo
You top up £236/mo
Price vs market
Below market value
-46% vs 12 sold · interior unseen
Return · IRR
-3.9%/yr
Loses money over 5 years
Cash left in
£0
Fully recycled — pull all your cash back out
Price £165KCash to buy £68KReturn before costs on price 9.80%5-yr return on cash -14%Rent est. £1,348 (£1,304–£1,393)
How we define each return: On price — gross yield = annual rent ÷ purchase price. On cost — net yield ÷ total project cost (price + refurb + fees). On cash — cash-on-cash & ROI ÷ the actual cash you put in (deposit + costs).
What-if calculator
Rates as of 20 May 2026Buy-to-Let. Standard rental on an Assured Shorthold Tenancy. Single household, market rent, paid monthly direct to landlord (or via agent). (hover any strategy tab for pros + cons)
Offer (£)
Monthly rent (£)
Local comp range: £1,304–£1,393/mo · n=38
Financing
DepositYour cash in — the rest is the mortgage25% · £41,250
Standard 75% LTV for BTL
Mortgage rate5y fixed5.8%
5-year fixed at 75% LTV — 5.75% (as of 2026-05-20).
Mortgage term (years)
Stress rate6.5%
BoE base + 2pp stress (6.5%)
Acquisition costs
Refurb (£)
Per-property refurb estimate from the element rate-card model (£9,419–£17,581 range), VAT-inclusive
Legal + survey (£)
Leasehold flat — £1,500 legal + £500 survey
Mortgage fees (£)
2% product fee on £123,750 loan + £1,000 booking fee
Running costs
Management10%
Typical BTL agency rate
Void weeks
Typical voids for BTL
Insurance (£/mo)
Typical BTL building+landlord cover for sub-£200K
Maintenance (£/mo)
Semi/flat: £67/mo proxy
Leasehold costs
Result · Rent it out
Monthly profit
-£236
after mortgage, operating costs & tax
Rent in£1,348/mo gross
£1,296/mo collected · £52/mo lost to voids
Where it goes
£670Mortgage£862Costs
Outgoings exceed rent — you top up £236/mo
Mortgage£670
Costs£862
Management£135
Maintenance£67
Insurance£20
CapEx reserve£67
Voids + council tax£10
Service charge + ground rent£459
Ltd co. accounts£104
Tax—
Shortfall−£236
Returns
Return before costs on price9.80%
Cash return on cash-4.15%
Gross margin£434
Cash needed£68,333
Monthly profit paybackn/a (monthly loss)
Data confidence
Lender stress test
Rent-covers-mortgage check @ stress1.93
Rent-covers-mortgage check PASS · stress 6.5% (target 1.45)
Year-by-year Monthly profit (5-yr horizon)
Net Monthly profit after tax. Rent + costs compound at their growth rates; mortgage principal amortises year-by-year for repayment loans.
Mortgage paydownRent profitbefore price growth
Full year-by-year breakdown
| Year | Gross Rent | Op Costs | Mortgage | Equity Built | Tax | Net | Cumulative |
|---|---|---|---|---|---|---|---|
| Year 1 | £16,176 | £10,346 | £8,044 | £0 | £0 | -£2,214 | -£2,214 |
| Year 2 | £16,661 | £10,656 | £8,044 | £0 | £0 | -£2,039 | -£4,252 |
| Year 3 | £17,161 | £10,976 | £8,044 | £0 | £0 | -£1,859 | -£6,111 |
| Year 4 | £17,676 | £11,305 | £8,044 | £0 | £0 | -£1,673 | -£7,784 |
| Year 5 | £18,206 | £11,644 | £8,044 | £0 | £0 | -£1,482 | -£9,266 |
Disposal gain (gross)-£10,989
CGT£0
Net Disposal proceeds£177,619
What we verified
What we verified
23062 ok · 3 caution · 0 fail · 6 unknown
Legal & planning
LeaseholdLeasehold
Tenure & planningLeasehold
Legal & planning
2 checks- TenureUnknown
- Lease lengthUnknown
Building condition
Energy ratingUnknown
EPC& 2030 deadlineEPC register
EPC band not available in the listing. The 2030 MEES minimum is band C — verify the certificate before offering.
EPC band from listing · verify certificate before exchanging
Find EPC certificate →Cladding safety certificateNot stated on the listing
EWS1& cladding statusDirect mention
OKInfoVerifyCritical
Severity
EWS1 mentioned in listing
OK
Lender impact
EWS1 form mentioned in listing — confirm the rating (A1/A2 = ok, B1/B2 = remediation required).
Mortgageable
A1/A2 = mortgageable · B1 = mortgageable with plan · B2 = remediation required
RICS EWS1 guidance →HeritageNot stated on the listing
Heritage& planning constraintsNHLE register
We don't ingest the NHLE bulk register, so we can't flag listed-building or conservation-area status for this address from our data alone. Use the official registry to verify before exchanging.
Area
Flood riskChecking…
FloodriskEA
Crime riskChecking…
Crimeriskpolice.uk
SchoolsChecking…
Schools& Ofsted catchmentGIAS register
No schools indexed for this postcode sector.
Investor
Tenant profileYoung pro.
Tenant profilelikely cohortM3 1NG · 2 bed
Primary profile
Young professional
Nearest university
for student-let assessment
Manchester Metropolitan · 1.9 km
Reason
City-centre flat ≤ 2 beds — typical young-professional / commuter let market.
Heuristic from postcode + bedrooms + nearest-university distance · verify locally
Refurb costEstimate ready
Refurb cost& works budgetQ1 2026 rates
New kitchen + bathroom + light replumb + decor.
Total estimate
2-bed · 2-bath · 810 sqft
£25k–£49k
£ per sqft
building cost only
£31–£61
Per-item breakdown (4 lines)
- Kitchen · Full unit replacement£3,840–£8,640
- 2 × bathroom · Full strip + retile£6,650–£13,300
- Paint + decor£5,670–£10,530
- Flooring · Carpet on bedrooms + LVT/laminate downstairs£8,910–£17,010
Guide rates · UK May 2026 · sqft auto-estimated from beds
Tier-based bands — get a builder quote before exchanging.
Rent by the room licensingN/A
Price & sale history481d on marketno cuts yet
Sale price historythis address, HM Land RegistryPrice-Paid Data
Asking vs last sale
£211,800 in 2005 → £165,000 asking
-22.1%in 21y
- 2005£211,800—
HM Land Registry · Price-Paid Data (Open Government Licence). Growth percentages are nominal — not adjusted for inflation or local market movement.
Strategy matrix
Short-stay let / Airbnb wins — +£413/mo · £453/mo ahead of Council lease
| Strategy | Return before costs on price | Monthly profit | Cash needed | 5y Return on your cash on cash | Risk | Feasibility |
|---|---|---|---|---|---|---|
| Rent it out | 9.80% | -£236 | £68,333 | -13.6% | Low | Feasible |
| Housing-benefit rent | 6.35% | -£683 | £68,333 | -53.7% | Med | Feasible |
| Council lease | 9.80% | -£40 | £68,333 | -0.3% | Low | Feasible |
| Refurb & refinance | 9.80% | -£236 | £81,606 | -11.4% | Med | Feasible |
| ⭐ Short-stay let / Airbnb | 22.80% | +£413 | £68,333 | 41.7% | High | Feasible |
| Buy, improve & sell | 0.00% | -£650 | £193,631 | 1% | Med | Feasible |
| Rent by the room | — | — | — | — | — | Disabledneeds 3+ beds |
Short-let (SA) context298 active short-lets nearby
Short-let market context
- 298 active short-let listings in this postcode
Housing-benefit (LHA) scheme detailBRMA Central Greater Manchester · cap £873/mo
Housing-benefit rent scheme detail
- Rental Market Area (BRMA):
- Central Greater Manchester
- LHA monthly cap:
- £873
- Scheme type:
- PSL
- Premium:
- +1000% premium over LHA cap
- Typical lease:
- 0 years lease
- Management:
- management covered by council
Ready to move on this deal?
Generates an offer pack with your numbers & sources — take it to the agent.
Pro analysis — outcome range, stress tests & portfolio impact
Local lettings demanddays-to-let · supply now · trend
Local lettings demandby strategyLive area data
Short-stay let46% occupancy
£222/night ADR
Based on 44 short-let comps nearby
Rent by the room conversion upside
+£99/mo cash flow vs Rent it out if converted to Rent by the room
17.45% Return before costs on price converted vs 9.80% as-is
As-is Rent it out
Monthly profit+£200
Return before costs on price9.80%
Cash needed£53,148
If converted to Rent by the room
Monthly profit+£298
Return before costs on price17.45%
Cash needed£69,148
Δ vs Rent it out Monthly profit+£99
Show conversion detail
Cannot Rent by the room:Only 2 bed — too small for an HMO (3+ unrelated tenants from 2+ households) without major reconfiguration.
Conversion cost estimate
£44,000
Range: £37,400 – £52,800
Fire safety, plumbing, partitioning, licensing.
Rates as of Apr 2026
Planning approval likelihood
Likely approvable · 62% likely
low confidence
- Article 4 direction applies — planning permission required for C3->C4 HMO
- no known HMOs within 100m (below threshold)
- local council HMO approval rate 61% (306 decisions)
≈0.0% within 100 m vs 10% policy
£52,648–£99,000full refurb + room split
⚠️ Capped at 60% of £165,000 asking (£99,000). Raw model: £54,780–£103,010. Verify with a surveyor before offering.
What's in this cost
- Kitchen£8,823–£17,645
- 2 × bathroom£11,821–£21,672
- Rewire£3,460–£6,055
- Replumb£2,595–£5,190
- Windows£8,650–£15,569
- Paint + decor£6,920–£12,974
- Flooring£10,380–£19,894
Comparables
sold within 0.5 miWide · CV 41.6%Med confidence
Loading nearby sold…
Location & area intelligence
Transport score100 / 100
On the map
- Registered HMOs
- Approved HMO conversions
- Pending HMO applications
Manchester City-wide HMO Article 4
≈0.0% within 100 m vs 10% policy
Schools & catchment1 school nearby
Nearby schoolsOfsted-rated, nearest first1 of 5
- Not ratedChetham's School of MusicNot applicable · Other independent school · M3 1SB
Ofsted · postcode-area match. Catchment areas vary year to year — verify with the local council before relying for school admissions.
Tax treatment
Annual gross rent£16,176
Section 24 credit£0
Annual tax due£0
Post-tax Monthly profit annual-£2,836
Exit costs
Projected sale price (5y · 2%/yr growth)£182,173
Capital gain (pre-CGT)£17,173
Sale costs (~2.5%)£4,554
CGT due (Ltd Co 25%)£0
No personal CGT — the gain is taxed at the company level (corporation tax) when the SPV disposes of the property.
Net 5y Monthly profit after CGT-£9,266
Rates as of Oct 2024
Acquisition costs
£68,333cash neededPurchase price£165,000
Deposit (25%)£41,250
Stamp duty+5% additional-property surcharge£9,050
Refurb£12,558
Legal + survey£2,000
Mortgage fees£3,475
Total cash neededdeposit + costs (loan covers the rest)£68,333
Green = verified data. Amber = market typical. Red = our estimate — verify before offering.
About this propertydescription · rightmove
Description& agent copyRightmove
EWS1 Form Available. Mortgage Buyers Welcome.
Located on the second floor this corner unit is of generous proportions, the accommodation on offer consists of; entrance hall, living room with large floor to ceiling windows open plan to an integrated kitchen, large master bedroom with an en-suite shower room, a second double bedroom and a stylish bathroom suite.
Ideally situated just a short walk to Deansgate, Manchester Cathedral, Market Street and Victoria Station. You wil…
Floor plans
Nearby active comparables20 rentals · 4 deals
Comparable rentals
M3 · same beds + typeMedian nearby: £1,650/mo · 19 of 20 already let+£302 vs our est
- Anaconda cut, 100 Greengate, M3Let2b£1,675/moMay 2026
- Anaconda cut, 100 Greengate, M3Let2b£1,725/moMay 2026
- Anaconda cut, 100 Greengate, M3 7NGLet2b£1,700/moMay 2026
- Anaconda cut, 100 Greengate, M3Let2b£1,835/moMay 2026
- Anaconda cut, 100 Greengate, M3Let2b£1,750/moMay 2026
- Cortland at Colliers Yard, Salford, M3Let2b£1,820/moMay 2026
- Stanley Street, Manchester, Greater M…Let2b£1,482/moMay 2026
- Novella Apartments 15 Stanley Street…Let2b£1,725/moMay 2026
- Goodwin Building, 41 Potato Wharf, Ca…Let2b£1,400/moMay 2026
- Regent Road, Manchester, M3Let2b£1,450/moMay 2026
- The Slate Yard, M3Let2b£1,470/moMay 2026
- Riverview, M3Let2b£1,625/moMay 2026
- Riverbank Tower, Bridgewater Street,…Let2b£1,000/moMay 2026
- Cortland at Colliers Yard, Salford, M3Let2b£2,080/moMay 2026
- Manchester, Greater Manchester, M3Let2b£1,415/moMay 2026
- Admin Building, 6 New Bridge Street,…Let2b£1,250/moMay 2026
- Manchester, Greater Manchester, M3Let2b£1,590/moMay 2026
- Beetham Tower, 301 Deansgate, M3 4LX2b£3,000/moMay 2026
- Stanley Street, Manchester, Greater M…Let2b£2,000/moMay 2026
- Vie Building, Water StreetLet2b£1,250/moMay 2026
Listing metarightmove · Thornley Groves
About this listing
481 days · RightmovePrice history
5-year price trend
Monthly profit
−£236
Cash needed
£68K
Return after costs
-4.15%
IRR
-3.94%
Listed 481d ago
BAY BUILDING, 5 APARTMENT 5, MIRABEL STREET, MANCHESTER, M3 1NG
flat · 2 bed · 2 bath
£165,000
est £1,348 · 9.80% gross
Priced below market
1 / 15
50/100
Caution
Real 9.80% — fundamentals work.
Priced below market -46% vs 12 nearby sold (last 12 mo)
Stress Rent-covers-mortgage check PASS at 6.5% rate stress
9.80% Return before costs — above-market
Price
£165K
46% below sold comps
Return before costs
9.80%
est rent £1,348/mo38 comps within 500 mRange £1,304–£1,393/mo (Q1–Q3)
Bedrooms
2
2 bath
Energy rating
—
Energy rating
Run the numbers
What-if calculator
Rates as of 20 May 2026Buy-to-Let. Standard rental on an Assured Shorthold Tenancy. Single household, market rent, paid monthly direct to landlord (or via agent). (hover any strategy tab for pros + cons)
Offer (£)
Monthly rent (£)
Local comp range: £1,304–£1,393/mo · n=38
Financing
DepositYour cash in — the rest is the mortgage25% · £41,250
Standard 75% LTV for BTL
Mortgage rate5y fixed5.8%
5-year fixed at 75% LTV — 5.75% (as of 2026-05-20).
Mortgage term (years)
Stress rate6.5%
BoE base + 2pp stress (6.5%)
Acquisition costs
Refurb (£)
Per-property refurb estimate from the element rate-card model (£9,419–£17,581 range), VAT-inclusive
Legal + survey (£)
Leasehold flat — £1,500 legal + £500 survey
Mortgage fees (£)
2% product fee on £123,750 loan + £1,000 booking fee
Running costs
Management10%
Typical BTL agency rate
Void weeks
Typical voids for BTL
Insurance (£/mo)
Typical BTL building+landlord cover for sub-£200K
Maintenance (£/mo)
Semi/flat: £67/mo proxy
Leasehold costs
Result · Rent it out
Monthly profit
-£236
after mortgage, operating costs & tax
Rent in£1,348/mo gross
£1,296/mo collected · £52/mo lost to voids
Where it goes
£670Mortgage£862Costs
Outgoings exceed rent — you top up £236/mo
Mortgage£670
Costs£862
Management£135
Maintenance£67
Insurance£20
CapEx reserve£67
Voids + council tax£10
Service charge + ground rent£459
Ltd co. accounts£104
Tax—
Shortfall−£236
Returns
Return before costs on price9.80%
Cash return on cash-4.15%
Gross margin£434
Cash needed£68,333
Monthly profit paybackn/a (monthly loss)
Data confidence
Lender stress test
Rent-covers-mortgage check @ stress1.93
Rent-covers-mortgage check PASS · stress 6.5% (target 1.45)
Short-let (SA) context298 active short-lets nearby
Short-let market context
- 298 active short-let listings in this postcode
Housing-benefit (LHA) scheme detailBRMA Central Greater Manchester · cap £873/mo
Housing-benefit rent scheme detail
- Rental Market Area (BRMA):
- Central Greater Manchester
- LHA monthly cap:
- £873
- Scheme type:
- PSL
- Premium:
- +1000% premium over LHA cap
- Typical lease:
- 0 years lease
- Management:
- management covered by council
Year-by-year Monthly profit (5-yr horizon)
Net Monthly profit after tax. Rent + costs compound at their growth rates; mortgage principal amortises year-by-year for repayment loans.
Mortgage paydownRent profitbefore price growth
Full year-by-year breakdown
| Year | Gross Rent | Op Costs | Mortgage | Equity Built | Tax | Net | Cumulative |
|---|---|---|---|---|---|---|---|
| Year 1 | £16,176 | £10,346 | £8,044 | £0 | £0 | -£2,214 | -£2,214 |
| Year 2 | £16,661 | £10,656 | £8,044 | £0 | £0 | -£2,039 | -£4,252 |
| Year 3 | £17,161 | £10,976 | £8,044 | £0 | £0 | -£1,859 | -£6,111 |
| Year 4 | £17,676 | £11,305 | £8,044 | £0 | £0 | -£1,673 | -£7,784 |
| Year 5 | £18,206 | £11,644 | £8,044 | £0 | £0 | -£1,482 | -£9,266 |
Rent by the room upside
What we verified
3407
Legal & planning▾
Article 4HMO restriction lookupUnknown
Rent by the room licensingMandatory if 5+ unrelatedN/A
TenureTenure typeLeasehold
HeritageListed building / conservation areaNot stated on the listing
Building condition▾
EPCPostcode estimate — check the registerNot stated on the listing
EWS1External wall safety (cladding)Not stated on the listing
Refurb costBased on beds + baths + sqftEstimate available
Service chargeReduces net yield£5,260/yr
Ground rentDoubling clauses kill mortgageability£250/yr
Area▾
Crimepolice.uk · monthlyChecking…
SchoolsGIAS · OfstedChecking…
FloodEA Flood Map · England onlyChecking…
Investor profile▾
Tenant profileBeds + postcode heuristicFamily let
Rent by the room feasibilityMin 3 beds for C4 routeBelow threshold
Comparables
sold within 0.5 miWide · CV 41.6%Med confidence
Loading nearby sold…
Location & transport
Tax & exit
Tax bandLtd Co 25%
Mortgage-interest tax rule credit£1,609
Annual rental tax£0
CGT yr 5£0 · company level
5y net total-£9,266
Acquisition costs
25% deposit£41,250
Stamp duty£9,050
Refurb£12,558
Legal + survey£2,000
Mortgage + broker£3,475
Cash needed£68,333
Green = verified data. Amber = market typical. Red = our estimate — verify before offering.
Make an offer
Pro analysis — outcome range, stress tests & portfolio impact
Your notes
Description& agent copyRightmove
EWS1 Form Available. Mortgage Buyers Welcome.
Located on the second floor this corner unit is of generous proportions, the accommodation on offer consists of; entrance hall, living room with large floor to ceiling windows open plan to an integrated kitchen, large master bedroom with an en-suite shower room, a second double bedroom and a stylish bathroom suite.
Ideally situated just a short walk to Deansgate, Manchester Cathedral, Market Street and Victoria Station. You wil…
Floor plans
Listing
Sources: Rightmove · HM Land Registry · Ofsted · EA Flood Zones
Estimates not financial advice
Estimates not financial advice