2 Bed Flat, Single Let, Reading, RG1 3DP, £250,000

2 The Meridian, Reading, RG1 3DP - 3 views - 2 years ago

Sold STC
Leasehold
BTL
ROI: 6%
~72 m²
+5 photos

ValuationUndervalued

Sold Prices£101.4K - £363K
Sold Prices/m²£1.7K/m² - £5.7K/m²

 

 

Square Metres

~72 m²
Price/m²£3.5K/m²

Value Estimate

£272,291
BMV9%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£8,700

Total Cash In

£71,200

 

 

Cash Out

 

Rent Range

£1,400 - £3,250

Rent Estimate

£1,425

Running Costs/mo

£1,086

Cashflow/mo

£339

Cashflow/yr

£4,065

ROI

6%

Gross Yield

7%

Local Sold Prices

50 sold prices from £101.4K to £363K, average is £245K. £1.7K/m² to £5.7K/m², average is £3.8K/m².

PriceDateDistanceAddressBeds 
£275K05/230.12 mi78, Kennet Walk, Reading RG1 3GF2
£229K01/210.15 mi29 Compass House, South Street, Reading RG1 4GQ2
£146K06/210.17 mi6, Robert Parker Road, Reading RG1 3FN2
£330K06/210.18 miFlat 22, Q2, Watlington Street, Reading RG1 4AY2
£295K04/230.32 miFlat 30, Kings Oak Court, Queens Road, Reading RG1 4PX2
£270K07/210.32 miFlat 18, Kings Oak Court, Queens Road, Reading RG1 4PX2
£245K12/220.34 miFlat 15, The Pinnacle, Kings Road, Reading RG1 4LY2
£283K02/230.34 miFlat 2, The Pinnacle, Kings Road, Reading RG1 4LY2
£247.8K11/210.34 miFlat 7, Greys Court, Sidmouth Street, Reading RG1 4PP2
£229K01/210.46 mi29 Compass House, South Street, Reading RG1 4GQ2
£188K07/230.55 miFlat 6, Nelson Mews, St Giles Close, Reading RG1 2SF2
£240K07/210.58 mi11, Deansgate Road, Reading RG1 2RZ2
£180K06/230.6 miFlat 19, Icon House, Merchants Place, Reading RG1 1EQ2
£230K09/210.62 miFlat 2, Sovereign Court, Mount Pleasant Grove, Reading RG1 2TS2
£250K02/210.62 miFlat 21, Projection West, Merchants Place, Reading RG1 1ET2
£270.9K10/220.71 mi100a, Meadow Way, Caversham, Reading RG4 5LY2
£230K09/210.71 mi124, Meadow Way, Caversham, Reading RG4 5LY2
£220K06/210.71 mi34, Meadow Way, Caversham, Reading RG4 5LY2
£265K09/210.72 mi34, Swan Place, Reading RG1 6QD2
£200K06/210.72 mi72, Amersham Road, Caversham, Reading RG4 5NA2
£245K02/210.72 mi84, Amersham Road, Caversham, Reading RG4 5NA2
£265K10/220.74 mi140, Gosbrook Road, Caversham, Reading RG4 8BJ2
£255K02/230.75 mi1, Haywood Court, Reading RG1 3QF2
£300K06/210.76 miFlat 10, Simmonds Malthouse, Fobney Street, Reading RG1 6BS2
£145K11/200.76 mi4, Katesgrove Lane, Reading RG1 2ND2
£300K04/210.77 miFlat 18, Regents Riverside, Brigham Road, Reading RG1 8QS2
£363K06/230.77 miFlat 57, Regents Riverside, Brigham Road, Reading RG1 8QS2
£262.5K09/210.77 mi91, Elliots Way, Caversham, Reading RG4 8BW2
£265K03/210.77 mi71, Elliots Way, Caversham, Reading RG4 8BW2
£295K02/230.78 mi74, Elliots Way, Caversham, Reading RG4 8BF2
£330K01/230.78 mi86, Elliots Way, Caversham, Reading RG4 8BF2
£261.5K02/230.79 mi1, Westerham Walk, Reading RG2 0BA2
£101.4K02/230.8 mi23, Talbot Court, Reading RG1 6QH2
£230K05/210.8 mi168, Gosbrook Road, Caversham, Reading RG4 8BJ2
£250K10/220.81 mi94, Gosbrook Road, Caversham, Reading RG4 8BJ2
£185K12/200.83 mi1, Alston Walk, Caversham, Reading RG4 5DD2
£234K10/200.83 miFlat 16, Jeffrey Place, Caversham Road, Reading RG1 7AY2
£240K09/210.84 mi10, Southern Hill, Reading RG1 5ES2
£255K11/200.84 mi32, Southern Hill, Reading RG1 5ES2
£170K01/230.86 miFlat 48, Lynden Mews, Dale Road, Reading RG2 0AT2
£208K03/210.9 mi4, St Pauls Court, Reading RG1 6HF2
£220K06/210.92 mi47, Tippett Rise, Reading RG2 0DJ2
£198K12/200.92 mi59b, Cardiff Road, Reading RG1 8ET2
£195K03/230.93 mi104, Tippett Rise, Reading RG2 0DZ2
£215K04/230.93 mi23, Stratheden Place, Reading RG1 7BH2
£240K06/210.93 mi6, Luscombe Close, Caversham, Reading RG4 5LG2
£245K03/210.93 mi24, Luscombe Close, Caversham, Reading RG4 5LG2
£255K12/200.93 mi10, Luscombe Close, Caversham, Reading RG4 5LG2
£187.2K03/210.93 mi23, Luscombe Close, Caversham, Reading RG4 5LG2
£286K03/230.93 mi8, Luscombe Close, Caversham, Reading RG4 5LG2

Local Rents

50 rents from £1.4K/mo to £3.3K/mo, average is £1.7K/mo.

RentDateDistanceAddressBeds 
£1,70007/240 miThe Meridian, Kenavon Drive, Reading, Berkshire, RG12
£1,70008/240 miThe Meridian, Reading, RG12
£1,55007/240 miThe Meridian, Kenavon Drive, Reading, Berkshire, RG12
£1,80007/240 miThe Meridian, Kenavon Drive, Reading, Berkshire, RG12
£1,70009/240 mi-2
£1,60001/250 mi-2
£1,50007/240 miThe Meridian, Kenavon Drive, Reading, Berkshire, RG12
£1,80007/240 miThe Meridian, Kenavon Drive, Reading, Berkshire, RG12
£1,50007/240 miThe Meridian,Reading2
£1,80007/240 miThe Meridian, Kenavon Drive, Reading, Berkshire, RG12
£1,60007/240 miThe Meridian, Kenavon Drive2
£1,70008/240.01 miThe Meridian, Reading, RG1 3DP2
£1,60008/240.01 mi-2
£1,60009/240.01 mi-2
£1,60009/240.01 mi-2
£1,62512/240.01 mi-2
£1,75001/250.01 mi-2
£1,50007/240.02 miThe Meridian, Kenavon Drive, Reading, Berkshire, RG12
£1,95007/240.02 miCarraway Street, Reading, RG12
£1,85007/240.02 miCarraway Street, Reading, RG12
£1,95008/240.02 miCarraway Street, Reading, RG12
£1,76008/240.02 miCarraway Street, Reading, RG12
£1,50007/240.03 miThe Meridian, Kenavon Drive, Reading, Berkshire, RG12
£1,70008/240.03 miMERIDIAN , Kenavon Drive, Town Centre2
£1,85007/240.05 miJoseph Huntley Walk, Reading, RG12
£1,85007/240.05 mi-2
£1,60010/230.05 miBlakes Quay, Gas Works Road, Reading, Berkshire, RG12
£1,60007/240.05 miJoseph Huntley Walk, Reading, RG12
£1,50007/240.06 miBlakes Quay, Reading2
£1,41707/240.06 miBlakes Quay, Reading2
£1,60007/240.06 miBlakes Quay, Reading2
£2,00009/240.06 miBlakes Quay, Reading2
£1,99510/230.06 miBlakes Quay, Gas Works Road, Reading, Berkshire, RG12
£3,25007/240.06 miBlakes Quay, Gas Works Road, Reading, Berkshire, RG12
£1,55010/230.06 miBlakes Quay, Gas Works Road, Reading, Berkshire, RG12
£1,40007/240.06 miBlakes Quay, Gas Works Road, Reading, RG12
£1,89807/240.06 miCarraway Street, Reading, RG1 3GB – 2 Bedrooms Flat2
£1,50007/240.06 miBlakes Quay, Gas Works Road, Reading, Berkshire, RG12
£1,60010/230.06 miBlakes Quay, Gas Works Road, Reading, Berkshire, RG12
£2,10008/240.06 miBlakes Quay, Gas Works Road, Reading, Berkshire, RG12
£1,84207/240.07 miHuntly Wharf, Kenovan Drive, Reading, RG12
£1,90007/240.07 miCarraway Street, Reading, RG12
£1,85008/240.07 miJoseph Huntley Walk, Reading, RG12
£1,85007/240.07 miJoseph Huntley Walk, Reading, RG12
£1,75007/240.07 miPalmer Street, Reading, RG12
£1,45007/240.07 miThe Meridian, Kenavon Drive, Reading2
£1,70007/240.07 miThe Meridian, Kenavon Drive, Reading, Berkshire, RG12
£1,85007/240.08 miJoseph Huntley Walk, Reading, RG12
£1,95007/240.08 miCarraway Street, Reading, RG12
£1,65007/240.08 miCarraway Street, Reading, RG12

Local Area Statistics

Population in RG1

43,085

Population in Reading

321,187

Town centre distance

0.66 miles away

Nearest school

0.20 miles away

Nearest train station

0.60 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+18%

Sales demand

Balanced market

Capital growth (5yrs)

+7%

Property History

Listed for £250,000

July 4, 2023

Floor Plans

Description

  • No Onward Chain +
  • Fourth Floor +
  • River Kennet Views +
  • Juliet Balcony +
  • Two Double Bedrooms +
  • Off Street Parking +
  • Town Centre Location +
  • Easy Access To M4 +

NO ONWARD CHAIN COMPLICATIONS

A stone’s throw from Reading town centre and the mainline railway station, this exceptionally well presented fourth floor apartment is close to a host of shops and amenities.

Ideal for first time buyers and investment buyers alike, the accommodation comprises an entrance hall with storage, a large living room, modern kitchen, modern three piece bathroom and two double bedrooms, including an impressive master which has built-in wardrobes and a refitted three piece en-suite shower room.

Externally, there are well maintained communal grounds and the building itself is accessed via a secure telecom entry system, lift access and off street parking space.

Agent Details

Prospect Estate Agency, Reading

0118 230 3819

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪