FLIP · Property AnalysisProperty analysis
Address: Chorlton Road, Manchester M15Price: £165,0002 Bedroom(s)2 Bathroom(s)Analysis Date: Nov 18, 2025
ROI: 18.7 %Property Type: FlatEPC band: BSize: 652 sq ft / 60.6 m²Risk: HighProject Time: 6 weeks
FLIP · Property AnalysisThis report provides a comprehensive analysis of the property at Chorlton Road, Manchester M15 5ND, focusing on its flip potential. The analysis includes market valuation, refurbishment strategies, risk assessment, and financial projections for a profitable resale.
This 2-bedroom apartment presents a viable flip opportunity, priced competitively at £165,000 with significant comparable sales supporting a higher ARV of £235,000 post-refurbishment. A pragmatic, cosmetic refurbishment costing £16,000 will modernise the property, enhancing its appeal and maximising resale value. Key risks include the substantial annual service charge and the leasehold tenure, but the projected ROI of 18.7% offers a strong return, assuming efficient execution and market stability. This opportunity requires careful management to mitigate risks, but potential profit is attractive.
The property is a two-bedroom apartment located in a well-established residential area of Manchester (M15). It benefits from a dedicated parking space and is described as "well presented" with a "newly renovated family bathroom". The surrounding M15 postcode shows active sales data for similar apartments, with recent 2-bed, 2-bath units achieving prices up to £272,450. The current asking price of £165,000 appears below market value for its specification and location, especially considering the included parking.
The estimated resale value (ARV) for this property post-refurbishment is projected at £235,000. This figure is derived from analysing comparable sales within the M15 postcode. Recent transactions for 2-bedroom apartments, particularly those with 2 bathrooms or in updated condition, have reached prices in the £190,000 to £270,000+ range. Our ARV is positioned at the 75th percentile of these comparable sales, reflecting a realistic achievable price after a focused cosmetic enhancement. The proposed refurbishment strategy aims to align the property with higher-value comparables by modernising key aesthetics. This includes updating kitchen finishes (cabinet fronts, worktops, splashback), refreshing both bathrooms with new sanitary ware and sealant, a full repaint in contemporary neutral tones, and installing new carpeting in bedrooms. These upgrades are estimated to cost £16,000 and are designed to create a desirable, move-in-ready property. The value is added by lifting the overall presentation and perceived quality, appealing to a broader buyer pool and justifying a price point significantly above the current asking. The included secure parking space further supports this ARV.
Manchester's property market, particularly in well-connected urban areas like M15, has shown resilience and steady growth. While individual apartment values can be influenced by service charges and lease lengths, the overall demand for 2-bedroom apartments in desirable locations remains strong. We anticipate a modest market appreciation of 2-3% over the projected 6-month holding period, which would further bolster the investment's profitability. The key is to execute the flip efficiently to capture current market value before significant market shifts occur.
The listing description ("Ideal for first-time buyers, young professionals, or investors") suggests the seller is open to a broad market and potentially seeking a swift sale. The property is described as "well presented" and has a "newly renovated family bathroom," indicating it's not a distressed sale requiring urgent price drops due to condition. However, the competitive pricing (£165,000 for a 2-bed, 2-bath apartment with parking in M15) and the "Added > 14 days" status may offer an opportunity for negotiation.
This flip is assessed as **High Risk (70/100)**. While the profit potential is attractive, the investment carries significant risks that require careful management. The primary concerns are the substantial annual service charge, the remaining lease term, and the reliance on achieving a specific ARV in a competitive market. Any delays in the refurbishment or sale process, or unforeseen costs, could significantly erode profit margins or lead to a loss.
The high risk is primarily driven by the tight profit margins achievable after accounting for all costs, especially given the significant service charge (£2,204.55 p.a.) which impacts resale affordability. Reliance on achieving the projected ARV of £235,000 is critical. Delays, market downturns, or unexpected refurbishment issues could negatively impact the ROI. The leasehold tenure, though relatively long (129 years remaining), also adds a layer of complexity compared to freehold properties.
The property is a 2-bedroom apartment with an additional room identified as an "Office" on the floor plan (2.36m x 2.47m). Converting this space into a third functional bedroom is highly improbable without major structural alterations that are impractical and likely prohibitively expensive for an apartment. The existing layout is already optimised for its size.
Recommendation: It is not recommended to attempt adding another bedroom. The focus should remain on optimising the existing 2-bedroom layout and enhancing its cosmetic appeal.
Negotiate down on the basis of the high annual service charge, which impacts ongoing affordability for future owners. Highlight the current state of the kitchen's cabinetry, even if functional, as an area for improvement that warrants a price reduction. Use recent sales data of similar properties in the immediate area that sold for lower figures to justify your offer.
The refurbishment will focus on enhancing the property's visual appeal and modernising finishes to achieve the target ARV. The scope is primarily cosmetic, building upon the existing "well presented" state and the renovated family bathroom.
Refurbishment Type: Pragmatic / Mid-Range
Recommended for a flip. This 2-bed apartment offers a good opportunity for profit. With a projected ROI of 18.7% after a £16k cosmetic refurbishment, it presents an attractive return given the estimated £235k ARV and reasonable purchase price. Key risks (service charge, leasehold) are manageable with careful execution.
The property at Chorlton Road, Manchester M15, presents a compelling flip investment opportunity with a strong projected ROI of 18.7%. The purchase price of £165,000 is competitive for a 2-bedroom, 2-bathroom apartment with parking in this postcode. A pragmatic refurbishment focused on cosmetic enhancements, costing £16,000, is expected to increase the property's market value to £235,000 (ARV). This uplift is supported by comparable sales data showing higher values for similar units, especially those with modern finishes. The projected gross profit of £36,975, after accounting for all acquisition, refurbishment, selling, and holding costs, offers a satisfactory return for the assumed 6-month holding period. Key risks include the substantial annual service charge (£2,204.55) and the leasehold tenure, which must be clearly communicated to potential buyers. However, the property's condition, location, and the proposed value-add strategy mitigate these risks, making this a viable and potentially profitable flip, provided meticulous project management and timely sale are achieved.