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Year 5 disposal
BMV -52%
⊞ View all 11
65/ 100
Solid
Real 11.09% return before costs with manageable risks.
Why it works
- 11.09% return before costs — above-market
- Priced below market -52% vs 12 nearby sold (last 12 mo) — instant equity
- Stress Rent-covers-mortgage check PASS at 6.5% rate stress — lender-friendly
- Long lease (104 yrs) — no short-lease drag
Why to be cautious
- Cash only — often signals cladding / short lease / structural
- Monthly profit −£25/mo — mildly negative — equity build may cover
Property research tool — not a regulated financial service. Numbers are point-in-time estimates; how we decide →
Monthly cashflow
−£25/mo
You top up £25/mo
Price vs market
Below market value
-52% vs 12 sold · interior unseen
Return · IRR
0.5%/yr
Modest annualised return
Cash left in
£0
Fully recycled — pull all your cash back out
Price £145KCash to buy £118KReturn before costs on price 11.09%5-yr return on cash 3%Rent est. £1,340 (£1,279–£1,404)
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: £1,279–£1,404/mo · n=47
Financing
DepositYour cash in — the rest is the mortgage25% · £36,250
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 (£51,983–£97,035 range), VAT-inclusive
Legal + survey (£)
Leasehold flat — £1,500 legal + £500 survey
Mortgage fees (£)
2% product fee on £108,750 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
-£25
after mortgage, operating costs & tax
Rent in£1,340/mo gross
£1,288/mo collected · £52/mo lost to voids
Where it goes
£589Mortgage£724Costs
Outgoings exceed rent — you top up £25/mo
Mortgage£589
Costs£724
Management£134
Maintenance£67
Insurance£20
CapEx reserve£67
Voids + council tax£8
Service charge + ground rent£324
Ltd co. accounts£104
Tax—
Shortfall−£25
Returns
Return before costs on price11.09%
Cash return on cash-0.25%
Gross margin£564
Cash needed£118,386
Monthly profit paybackn/a (monthly loss)
Data confidence
Lender stress test
Rent-covers-mortgage check @ stress2.19
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 | £16,080 | £8,691 | £7,069 | £0 | £61 | £260 | £260 |
| Year 2 | £16,562 | £8,951 | £7,069 | £0 | £103 | £439 | £699 |
| Year 3 | £17,059 | £9,220 | £7,069 | £0 | £146 | £625 | £1,324 |
| Year 4 | £17,571 | £9,496 | £7,069 | £0 | £191 | £815 | £2,139 |
| Year 5 | £18,098 | £9,781 | £7,069 | £0 | £237 | £1,011 | £3,150 |
Disposal gain (gross)-£67,872
CGT£0
Net Disposal proceeds£156,089
What we verified
What we verified
51055 ok · 1 caution · 0 fail · 5 unknown
Legal & planning
Leasehold104 yr
Leaseholdmaterial factsListing extract
Lease remaining
Mortgageable ≥80yr
104 yr
Ground rent
Doubling = lender risk
£250/yr
Extracted from listing description · verify with solicitor
Tenure & planning104 yr
Legal & planning
2 checks- TenureUnknown
- Lease lengthUnknown
Building condition
Energy ratingC
EPC& 2030 deadlineEPC register
▼
ABCDEFG
Current rating
Address-matched (ground truth)Band C
MEES 2030 compliance
C required for new tenancies
PASS
EPC band from listing · verify certificate before exchanging
Find EPC certificate →Cladding safety certificateNot stated on the listing
EWS1& cladding statusListing signal
OKInfoVerifyCritical
Severity
Inferred from listing text
Verify
Lender impact
No EWS1 / floor info in description. Buildings > 11 m need EWS1 or PAS 9980 — confirm height + status with the agent before offering.
Verify with lender
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 1NN · 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 history184d on market2 price changes
Sale price historythis address, HM Land RegistryPrice-Paid Data
Asking vs last sale
£205,000 in 2018 → £145,000 asking
-29.3%in 8y
- 2018£205,000+16.5% in 11y
- 2007£176,000+19.7% in 1y
- 2006£147,075—
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 — +£1,093/mo · £957/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 | 11.09% | -£25 | £118,386 | 2.7% | Low | Feasible |
| Housing-benefit rent | 7.22% | -£463 | £118,386 | -19.5% | Med | Feasible |
| Council lease | 11.09% | +£137 | £118,386 | 8.9% | Low | Feasible |
| Refurb & refinance | 11.09% | -£25 | £153,360 | 2.1% | Med | Feasible |
| ⭐ Short-stay let / Airbnb | 34.46% | +£1,093 | £118,386 | 60.4% | High | Feasible |
| Buy, improve & sell | 0.00% | -£515 | £251,685 | -31% | Med | Feasible |
| Rent by the room | — | — | — | — | — | Disabledneeds 3+ beds |
Short-let (SA) context284 active short-lets nearby
Short-let market context
- 284 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 let57% occupancy
£242/night ADR
Based on 21 short-let comps nearby
Rent by the room conversion upside
+£104/mo cash flow vs Rent it out if converted to Rent by the room
19.86% Return before costs on price converted vs 11.09% as-is
As-is Rent it out
Monthly profit+£258
Return before costs on price11.09%
Cash needed£48,148
If converted to Rent by the room
Monthly profit+£361
Return before costs on price19.86%
Cash needed£64,148
Δ vs Rent it out Monthly profit+£104
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
£46,266–£87,000full refurb + room split
⚠️ Capped at 60% of £145,000 asking (£87,000). Raw model: £54,780–£103,010. Verify with a surveyor before offering.
What's in this cost
- Kitchen£7,753–£15,506
- 2 × bathroom£10,388–£19,045
- Rewire£3,040–£5,321
- Replumb£2,280–£4,561
- Windows£7,601–£13,682
- Paint + decor£6,081–£11,402
- Flooring£9,121–£17,483
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£16,080
Section 24 credit£0
Annual tax due£61
Post-tax Monthly profit annual-£359
Exit costs
Projected sale price (5y · 2%/yr growth)£160,092
Capital gain (pre-CGT)£15,092
Sale costs (~2.5%)£4,002
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£3,150
Rates as of Oct 2024
Acquisition costs
£118,386cash neededPurchase price£145,000
Deposit (25%)£36,250
Stamp duty+5% additional-property surcharge£7,650
Refurb£69,311
Legal + survey£2,000
Mortgage fees£3,175
Total cash neededdeposit + costs (loan covers the rest)£118,386
Green = verified data. Amber = market typical. Red = our estimate — verify before offering.
About this propertydescription · rightmove
Description& agent copyRightmove
Cash buyers only! Set within a unique development attached to a Grade II listed building, this impressive two-bedroom apartment offers a perfect blend of character and contemporary living, all within walking distance of Manchester Arena and Victoria Train Station. This is a great opportunity for end users and investors alike.
Located on the second floor, the apartment comprises a welcoming hallway leading into the open-plan living and dining area, complete with a sleek fitt…
Floor plans
Listing metarightmove · Global House Estates
About this listing
184 days · RightmovePrice history
5-year price trend
Monthly profit
−£25
Cash needed
£118K
Return after costs
-0.25%
IRR
0.51%
Listed 184d ago
9 Mirabel Street, Manchester, Manchester
flat · 2 bed · 2 bath · 678 sqft (EPC)
£145,000
est £1,340 · 11.09% gross
Chain freeLeasehold 104yrEPC CListed buildingCash only
Priced below market
1 / 11
65/100
Solid
Real 11.09% — fundamentals work.
Priced below market -52% vs 12 nearby sold (last 12 mo)
Stress Rent-covers-mortgage check PASS at 6.5% rate stress
11.09% Return before costs — above-market
Chain free
Price
£145K
52% below sold comps
Return before costs
11.09%
est rent £1,340/mo47 comps within 500 mRange £1,279–£1,404/mo (Q1–Q3)
Bedrooms
2
2 bath
Energy rating
C
Energy rating
Deal flags1 issue
Cash buyers only
Often signals cladding, structural, or short-lease issues
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: £1,279–£1,404/mo · n=47
Financing
DepositYour cash in — the rest is the mortgage25% · £36,250
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 (£51,983–£97,035 range), VAT-inclusive
Legal + survey (£)
Leasehold flat — £1,500 legal + £500 survey
Mortgage fees (£)
2% product fee on £108,750 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
-£25
after mortgage, operating costs & tax
Rent in£1,340/mo gross
£1,288/mo collected · £52/mo lost to voids
Where it goes
£589Mortgage£724Costs
Outgoings exceed rent — you top up £25/mo
Mortgage£589
Costs£724
Management£134
Maintenance£67
Insurance£20
CapEx reserve£67
Voids + council tax£8
Service charge + ground rent£324
Ltd co. accounts£104
Tax—
Shortfall−£25
Returns
Return before costs on price11.09%
Cash return on cash-0.25%
Gross margin£564
Cash needed£118,386
Monthly profit paybackn/a (monthly loss)
Data confidence
Lender stress test
Rent-covers-mortgage check @ stress2.19
Rent-covers-mortgage check PASS · stress 6.5% (target 1.45)
Short-let (SA) context284 active short-lets nearby
Short-let market context
- 284 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 | £16,080 | £8,691 | £7,069 | £0 | £61 | £260 | £260 |
| Year 2 | £16,562 | £8,951 | £7,069 | £0 | £103 | £439 | £699 |
| Year 3 | £17,059 | £9,220 | £7,069 | £0 | £146 | £625 | £1,324 |
| Year 4 | £17,571 | £9,496 | £7,069 | £0 | £191 | £815 | £2,139 |
| Year 5 | £18,098 | £9,781 | £7,069 | £0 | £237 | £1,011 | £3,150 |
Rent by the room upside
What we verified
5315
Legal & planning▾
Article 4HMO restriction lookupUnknown
Rent by the room licensingMandatory if 5+ unrelatedN/A
TenureLeasehold years remaining104 yr
HeritageListed building / conservation areaListed
Building condition▾
EPCEnergy efficiency ratingC
EWS1External wall safety (cladding)Not stated on the listing
Refurb costBased on beds + baths + sqftEstimate available
Service chargeReduces net yield£3,640/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£1,414
Annual rental tax£0
CGT yr 5£0 · company level
5y net total£3,150
Acquisition costs
25% deposit£36,250
Stamp duty£7,650
Refurb£69,311
Legal + survey£2,000
Mortgage + broker£3,175
Cash needed£118,386
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
Cash buyers only! Set within a unique development attached to a Grade II listed building, this impressive two-bedroom apartment offers a perfect blend of character and contemporary living, all within walking distance of Manchester Arena and Victoria Train Station. This is a great opportunity for end users and investors alike.
Located on the second floor, the apartment comprises a welcoming hallway leading into the open-plan living and dining area, complete with a sleek fitt…
Floor plans
Listing
Sources: Rightmove · HM Land Registry · Ofsted · EA Flood Zones
Estimates not financial advice
Estimates not financial advice