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Year 5 disposal
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39/ 100
Weak
7.91% return before costs — market rent unverified, verify rent + comps locally.
Why it works
- 7.91% return before costs — above-market
- Stress Rent-covers-mortgage check PASS at 6.5% rate stress — lender-friendly
- Long lease (985 yrs) — no short-lease drag
Why to be cautious
- Monthly profit −£153/mo — mildly negative — equity build may cover
- -1.7% 5y IRR — capital outlay disproportionate to returns
- No rent comparables — estimate is a rule-of-thumb fallback, not market data. Verify the rent locally before offering.
- 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
−£153/mo
You top up £153/mo
Price
£235K
No local sold comps to compare
Return · IRR
-1.7%/yr
Loses money over 5 years
Cash to get in
£92K
Deposit + fees + refurb
Return before costs on price 7.91%5-yr return on cash -3%Rent est. £1,550 (£1,446–£1,661)
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: £1,446–£1,661/mo · n=180
Financing
DepositYour cash in — the rest is the mortgage25% · £58,750
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 £176,250 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 £200K–£400K
Maintenance (£/mo)
Semi/flat: £67/mo proxy
Leasehold costs
Result · Rent it out
Monthly profit
-£153
after mortgage, operating costs & tax
Rent in£1,550/mo gross
£1,490/mo collected · £60/mo lost to voids
Where it goes
£955Mortgage£689Costs
Outgoings exceed rent — you top up £153/mo
Mortgage£955
Costs£689
Management£155
Maintenance£67
Insurance£28
CapEx reserve£78
Voids + council tax£7
Service charge + ground rent£250
Ltd co. accounts£104
Tax—
Shortfall−£153
Returns
Return before costs on price7.91%
Cash return on cash-2.00%
Gross margin£802
Cash needed£91,783
Monthly profit paybackn/a (monthly loss)
Data confidence
Lender stress test
Rent-covers-mortgage check @ stress1.56
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 | £18,600 | £8,266 | £11,456 | £0 | £0 | -£1,122 | -£1,122 |
| Year 2 | £19,158 | £8,513 | £11,456 | £0 | £0 | -£812 | -£1,933 |
| Year 3 | £19,733 | £8,769 | £11,456 | £0 | £0 | -£492 | -£2,426 |
| Year 4 | £20,325 | £9,032 | £11,456 | £0 | £0 | -£163 | -£2,589 |
| Year 5 | £20,934 | £9,303 | £11,456 | £0 | £33 | £142 | -£2,447 |
Disposal gain (gross)-£10,535
CGT£0
Net Disposal proceeds£252,973
What we verified
What we verified
41064 ok · 1 caution · 0 fail · 6 unknown
Legal & planning
Leasehold985 yr
Leaseholdmaterial factsListing extract
Lease remaining
Mortgageable ≥80yr
985 yr
Ground rent
Doubling = lender risk
£340/yr
Service charge
Annual running cost
£2,667/yr
High ground rent — £340/year
Above the £250 assured-tenancy threshold. Risk of forfeiture proceedings on missed payments. Some lenders cap acceptable ground rent at this level.
Extracted from listing description · verify with solicitor
Tenure & planning985 yr
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 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 cohortM4 6EW · 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 history1d on marketno cuts yet
Sale price historythis address, HM Land RegistryPrice-Paid Data
Asking vs last sale
£121,000 in 2013 → £235,000 asking
+94.2%in 13y
- 2013£121,000—
HM Land Registry · Price-Paid Data (Open Government Licence). Growth percentages are nominal — not adjusted for inflation or local market movement.
Strategy matrix
Council lease wins — +£56/mo · £209/mo ahead of Rent it out
| Strategy | Return before costs on price | Monthly profit | Cash needed | 5y Return on your cash on cash | Risk | Feasibility |
|---|---|---|---|---|---|---|
| Rent it out | 7.91% | -£153 | £91,783 | -2.7% | Low | Feasible |
| Housing-benefit rent | 4.46% | -£761 | £91,783 | -44.3% | Med | Feasible |
| ⭐ Council lease | 7.91% | +£56 | £91,783 | 7.0% | Low | Feasible |
| Refurb & refinance | 7.91% | -£153 | £108,556 | -2.3% | Med | Feasible |
| Short-stay let / Airbnb | — | — | — | — | — | Disabledno local short-let data |
| Buy, improve & sell | 0.00% | -£449 | £268,531 | 4% | Med | Feasible |
| Rent by the room | — | — | — | — | — | Disabledneeds 3+ beds |
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
Rent by the room conversion upside
-£34/mo cash flow vs Rent it out if converted to Rent by the room
12.26% Return before costs on price converted vs 7.91% as-is
As-is Rent it out
Monthly profit+£111
Return before costs on price7.91%
Cash needed£70,648
If converted to Rent by the room
Monthly profit+£77
Return before costs on price12.26%
Cash needed£86,648
Δ vs Rent it out Monthly profit-£34
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
£54,780–£103,010full refurb + room split
What's in this cost
- Kitchen£9,180–£18,360
- 2 × bathroom£12,300–£22,550
- Rewire£3,600–£6,300
- Replumb£2,700–£5,400
- Windows£9,000–£16,200
- Paint + decor£7,200–£13,500
- Flooring£10,800–£20,700
Comparables
sold within 0.5 miLoading 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 ratedCo-op Academy New IslingtonPrimary · Free schools · M4 6EY
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£18,600
Section 24 credit£0
Annual tax due£0
Post-tax Monthly profit annual-£1,837
Exit costs
Projected sale price (5y · 2%/yr growth)£259,459
Capital gain (pre-CGT)£24,459
Sale costs (~2.5%)£6,486
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-£2,447
Rates as of Oct 2024
Acquisition costs
£91,783cash neededPurchase price£235,000
Deposit (25%)£58,750
Stamp duty+5% additional-property surcharge£13,950
Refurb£12,558
Legal + survey£2,000
Mortgage fees£4,525
Total cash neededdeposit + costs (loan covers the rest)£91,783
Green = verified data. Amber = market typical. Red = our estimate — verify before offering.
About this propertydescription · rightmove
Description& agent copyRightmove
SPACIOUS TWO-BEDROOM, TWO-BATHROOM APARTMENT– NAVAL STREET, M4
A fantastic opportunity to purchase a substantial two-bedroom, two-bathroom apartment situated on the third floor of a popular development on Naval Street, M4. This generously proportioned apartment offers excellent living accommodation and is considerably larger than a typical two-bedroom apartment, making it an ideal choice for both owner-occupiers and investors.
The property features a large open-plan living…
Floor plans
Listing metarightmove · Bentley Hurst
About this listing
1 days · RightmovePrice history
5-year price trend
Monthly profit
−£153
Cash needed
£92K
Return after costs
-2.00%
IRR
-1.72%
Listed 1d ago
Naval Street, Manchester, M4
flat · 2 bed · 2 bath
£235,000
est £1,550 · 7.91% gross
Leasehold 985yr
1 / 10
39/100
Marginal
7.91% — verify the rent + comps locally.
Stress Rent-covers-mortgage check PASS at 6.5% rate stress
7.91% Return before costs — above-market
Price
£235K
Return before costs
7.91%
est rent £1,550/monot enough comparablesRange £1,446–£1,661/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: £1,446–£1,661/mo · n=180
Financing
DepositYour cash in — the rest is the mortgage25% · £58,750
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 £176,250 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 £200K–£400K
Maintenance (£/mo)
Semi/flat: £67/mo proxy
Leasehold costs
Result · Rent it out
Monthly profit
-£153
after mortgage, operating costs & tax
Rent in£1,550/mo gross
£1,490/mo collected · £60/mo lost to voids
Where it goes
£955Mortgage£689Costs
Outgoings exceed rent — you top up £153/mo
Mortgage£955
Costs£689
Management£155
Maintenance£67
Insurance£28
CapEx reserve£78
Voids + council tax£7
Service charge + ground rent£250
Ltd co. accounts£104
Tax—
Shortfall−£153
Returns
Return before costs on price7.91%
Cash return on cash-2.00%
Gross margin£802
Cash needed£91,783
Monthly profit paybackn/a (monthly loss)
Data confidence
Lender stress test
Rent-covers-mortgage check @ stress1.56
Rent-covers-mortgage check PASS · stress 6.5% (target 1.45)
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 | £18,600 | £8,266 | £11,456 | £0 | £0 | -£1,122 | -£1,122 |
| Year 2 | £19,158 | £8,513 | £11,456 | £0 | £0 | -£812 | -£1,933 |
| Year 3 | £19,733 | £8,769 | £11,456 | £0 | £0 | -£492 | -£2,426 |
| Year 4 | £20,325 | £9,032 | £11,456 | £0 | £0 | -£163 | -£2,589 |
| Year 5 | £20,934 | £9,303 | £11,456 | £0 | £33 | £142 | -£2,447 |
Rent by the room upside
What we verified
5207
Legal & planning▾
Article 4HMO restriction lookupUnknown
Rent by the room licensingMandatory if 5+ unrelatedN/A
TenureLeasehold years remaining985 yr
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£2,667.26/yr
Ground rentDoubling clauses kill mortgageability£340/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 miLoading nearby sold…
Location & transport
Tax & exit
Tax bandLtd Co 25%
Mortgage-interest tax rule credit£2,291
Annual rental tax£0
CGT yr 5£0 · company level
5y net total-£2,447
Acquisition costs
25% deposit£58,750
Stamp duty£13,950
Refurb£12,558
Legal + survey£2,000
Mortgage + broker£4,525
Cash needed£91,783
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
SPACIOUS TWO-BEDROOM, TWO-BATHROOM APARTMENT– NAVAL STREET, M4
A fantastic opportunity to purchase a substantial two-bedroom, two-bathroom apartment situated on the third floor of a popular development on Naval Street, M4. This generously proportioned apartment offers excellent living accommodation and is considerably larger than a typical two-bedroom apartment, making it an ideal choice for both owner-occupiers and investors.
The property features a large open-plan living…
Floor plans
Listing
Sources: Rightmove · HM Land Registry · Ofsted · EA Flood Zones
Estimates not financial advice
Estimates not financial advice