# 1 bedroom apartment for sale (M5 3NQ) ## Property Details | Key | Value | |-----|-------| | Address | Completed Manchester Apartment, M5 3NQ | | Price | £249,950 | | Bedrooms | 1 | | Bathrooms | 1 | | Last sold | £130,000 | ## Description "This Property is Suitable for Buy-to-Let Investments & Owner-Occupiers DESCRIPTION The investment This fully completed development in Salford Quays offers investors the potential opportunity to earn immediate rental income from day one. Strong long-term capital growth is anticipated in this area, with Manchester remaining one of the UK's most consistently high-performing property markets. The location Perfectly positioned in the heart of Salford Quays, one of the UK's largest and most successful regeneration zones, this development sits moments from major employment hubs, including MediaCityUk - home to global names like the BBC and ITV. Residents can also benefit from excellent nearby transport links, vibrant local amenities, and scenic waterfront surroundings. With continuous regional investment and thousands of jobs created each year as a result, rental demand in Salford Quays remains exceptionally strong. The apartments Each apartment is finished to a luxury spec, featuring bespoke interior design, premium furnishings, and expansive windows with stunning waterfront views. Modern integrated kitchens, high-quality flooring, and stylish open-plan layouts create an attractive living environment that perfectly suits Manchester's growing population of professional renters seeking both comfort and convenience. The development This high-end residential scheme combines contemporary architecture with a premium lifestyle offering. Residents can enjoy access to an impressive range of on-site amenities designed to enhance both comfort and wellbeing in one of Manchester's most desirable neighbourhoods. Want to find out more? Contact us today to receive a full digital brochure, apartment floor plans, and a full investment breakdown." ## Property Photos - ![Photo](/listings/photos/87738657/88482) - ![Photo](/listings/photos/87738657/88483) - ![Photo](/listings/photos/87738657/88484) - ![Photo](/listings/photos/87738657/88485) - ![Photo](/listings/photos/87738657/88486) - ![Photo](/listings/photos/87738657/88487) - ![Photo](/listings/photos/87738657/88488) - ![Photo](/listings/photos/87738657/88489) - ![Photo](/listings/photos/87738657/88490) - ![Photo](/listings/photos/87738657/88491) ## Floorplans - ![Floorplan 1](/listings/photos/87738657/88492) - Floorplan 1 ## Sales History *Recorded sales for this property. Data from Land Registry Price Paid.* | Address | Price | Date | Type | |---------|-------|------|------| | | £130,000 | 01/01/2016 | — | | | £153,500 | 01/01/2016 | — | ## Sold Comparables *Same street and nearby sales within 0.25 miles. Data from Land Registry Price Paid. Last 5 years.* | Address | Price | Date | Type | |---------|-------|------|------| | THE EXCHANGE, 8 APARTMENT 215 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3NQ | £150,000 | 19/12/2025 | Flat | | ENDEAVOUR HOUSE, 1B APARTMENT 263 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3LN | £137,500 | 19/11/2025 | Flat | | 12 TROY WALK, SALFORD, GREATER MANCHESTER, M5 3DF | £128,000 | 07/08/2025 | Flat | | ADAMSON HOUSE, 4 APARTMENT 38 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DL | £180,102 | 04/12/2023 | Flat | | DOCK OFFICE APARTMENT 61 FURNESS QUAY, SALFORD, GREATER MANCHESTER, M50 3AA | £360,000 | 30/10/2023 | Flat | | EGERTON HOUSE, 3 APARTMENT 36 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DH | £175,000 | 20/10/2023 | Flat | | ADAMSON HOUSE, 4 APARTMENT 4 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DL | £170,000 | 06/10/2023 | Flat | | WALKER HOUSE, 6 APARTMENT 43 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DU | £163,000 | 28/07/2023 | Flat | | GILBERT HOUSE, 2 APARTMENT 11 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DE | £180,000 | 03/05/2023 | Flat | | 15 RADCLYFFE MEWS, SALFORD, GREATER MANCHESTER, M5 3GD | £178,000 | 03/03/2023 | Flat | | WALKER HOUSE, 6 APARTMENT 32 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DU | £170,000 | 16/02/2023 | Flat | | WALKER HOUSE, 6 APARTMENT 5 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DU | £171,250 | 09/12/2022 | Flat | | GILBERT HOUSE, 2 APARTMENT 43 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DE | £208,000 | 25/11/2022 | Flat | | PLATT HOUSE, 5 APARTMENT 30 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DR | £188,000 | 18/11/2022 | Flat | | GILBERT HOUSE, 2 APARTMENT 34 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DE | £203,000 | 11/11/2022 | Flat | | WALKER HOUSE, 6 APARTMENT 2 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DU | £195,000 | 14/10/2022 | Flat | | ADAMSON HOUSE, 4 APARTMENT 44 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DL | £182,000 | 14/10/2022 | Flat | | EGERTON HOUSE, 3 APARTMENT 6 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DH | £160,000 | 30/09/2022 | Flat | | 15 APARTMENT 916 TRAFFORD ROAD, SALFORD, GREATER MANCHESTER, M5 3NW | £230,000 | 29/09/2022 | Flat | | PLATT HOUSE, 5 APARTMENT 19 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DR | £206,000 | 26/07/2022 | Flat | **Area average:** £186,743 (20 sales) ## Price vs local average *Outcode + property type (HousePrices, last 2 years).* - **Local average:** £206,700 (69 Flat, M5, 2024–2026) - **Deviation:** +20.9% ## Rental Range *ONS Price Index of Private Rents (Salford). Low / Realistic / Optimistic = conservative / average / best case.* - **Low:** £1,046/mo - **Realistic:** £1,162/mo - **Optimistic:** £1,278/mo ## LHA (Local Housing Allowance) *VOA 30th percentile rent floor for Richmond & Hambleton (Apr 2025 – Mar 2026).* - **LHA floor (this property size):** £449/mo ## Rental Comparables *Residential lets from OpenRent and Rightmove for the area (same bedroom count). Use to validate rent estimates. Student lets are excluded.* | Title | Rent | Beds | Distance | As seen on | |------|------|------|------|------| | 1 Bed Flat, Ordsall Lane, M5 | £1,100/mo | 1 | 0.34 miles | OpenRent | | 1 Bed Flat, The Quays, M50 | £1,250/mo | 1 | 0.36 miles | OpenRent | | 1 Bed Flat, Wharf End, M17 | £1,175/mo | 1 | 0.39 miles | OpenRent | **Average rent: £1,175/mo (3 listings)** ## 1% Rule - **Rent ratio:** 0.47% (weak for cashflow) - **Max investor price (0.8%):** £146,875 - **Target investor price (1%):** £117,500 *Monthly rent ÷ price. 1%+ = strong, 0.8–1% = okay, <0.8% = weak. Max investor price = rent ÷ 0.8% (Stoke-style target). Target investor price = rent ÷ 1% (strong cashflow band). Based on OpenRent comparables.* ## Rent-driven metrics *Based on OpenRent comparables (median £1,175/mo).* - **Gross yield:** 5.6% - **Cost-to-rent:** 17.7× - **Monthly cashflow:** £48/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term) - **Cash-on-cash ROI:** 0.8% *Gross yield = annual rent as % of price (no costs). Cost-to-rent = price ÷ annual rent (from OpenRent comparables); under 14× = strong, 14–16× = acceptable, 17×+ = compressed. Cashflow = rent − mortgage − 10% maintenance − £25/mo compliance; assumes 75% LTV, 3.95% APR (5yr fixed), 25yr term. ROI = annual profit ÷ cash in (deposit + 4% purchase costs).* ## Capital growth trend *Land Registry outcode average from sold prices: last 12 months vs 5y and 10y ago.* - **5y growth:** -1.8% - **10y growth:** 30.4% ## House Price Index (HM Land Registry) *Official index for Salford; Flats and maisonettes series; as of March 2026.* - **1y growth (index):** -5.6% - **5y growth (index):** 11% - **10y growth (index):** 71.5% ## Flood risk - **Zone:** 1 - **Risk:** Low - **Source:** Job (default Low) [Check long-term flood risk (GOV.UK)](https://check-long-term-flood-risk.service.gov.uk/postcode)