2 Bed Flat, Single Let, Reading, RG1 4AQ £250,000

Kennet Street, Reading, Berkshire, RG1 4AQ - 19 views - 2 years ago

Sold STC

Leasehold

BTL

ROI: 5%

~68 m²

ValuationUndervalued

Sold Prices	£85.5K - £410K
Sold Prices/m²	£1.1K/m² - £5.5K/m²

Square Metres	~68.11 m²
Price/m²	£3.7K/m²
Value Estimate	£261,313£261,313
BMV	1%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£62,500£62,500
Stamp Duty & Legal Fees	£9,500£9,500
Total Cash In	£72,000£72,000

Cash Out
Rent Range	£1,200 - £3,761£1,200 - £3,761
Rent Estimate	£1,450
Running Costs/mo	£1,091£1,091
Cashflow/mo	£359£359
Cashflow/yr	£4,305£4,305
ROI	6%6%
Gross Yield	7%7%

Local Sold Prices

50 sold prices from £85.5K to £410K, average is £254K. £1.1K/m² to £5.5K/m², average is £3.9K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£330K	06/21	0.02 mi	Flat 22, Q2, Watlington Street, Reading RG1 4AY	£4,352	76	2	Flat
£255K	07/25	0.07 mi	1, Grantley Heights, Kennet Side, Reading RG1 3EG	-	-	2	Flat
£405K	03/25	0.09 mi	10, 47 Queen's Wharf, Queens Road, Reading RG1 4QE	£3,682	110	2	Flat
£245K	01/25	0.13 mi	Wrenbury Court, Eldon Road, Reading RG1 4DL	£3,719	66	2	Flat
£410K	02/25	0.13 mi	Blakes Quay, 48, Gas Works Road, Reading RG1 3EN	£4,977	82	2	Flat
£388.1K	01/25	0.13 mi	Blakes Quay, 43, Gas Works Road, Reading RG1 3EN	£4,312	90	2	Flat
£247.8K	11/21	0.17 mi	Flat 7, Greys Court, Sidmouth Street, Reading RG1 4PP	-	-	2	Flat
£85.5K	03/25	0.17 mi	110, The Meridian, Kenavon Drive, Reading RG1 3DP	£1,140	75	2	Flat
£295K	04/23	0.18 mi	Flat 30, Kings Oak Court, Queens Road, Reading RG1 4PX	-	-	2	Flat
£270K	07/21	0.18 mi	Flat 18, Kings Oak Court, Queens Road, Reading RG1 4PX	-	-	2	Flat
£358K	03/25	0.21 mi	Flat 21, 4, Palmer Street, Reading RG1 3GY	£5,508	65	2	Flat
£275K	05/23	0.25 mi	78, Kennet Walk, Reading RG1 3GF	£3,125	88	2	Flat
£288K	03/25	0.29 mi	Flat 35, 6, Oscar Wilde Road, Reading RG1 3FG	£4,056	71	2	Flat
£295K	03/25	0.31 mi	Flat 21, 8, Oscar Wilde Road, Reading RG1 3FH	£3,734	79	2	Flat
£117.5K	03/25	0.32 mi	19, 115 Blenheim Court, London Street, Reading RG1 4PH	£2,304	51	2	Flat
£146K	06/21	0.33 mi	6, Robert Parker Road, Reading RG1 3FN	£1,718	85	2	Flat
£245K	12/22	0.36 mi	Flat 15, The Pinnacle, Kings Road, Reading RG1 4LY	-	-	2	Flat
£283K	02/23	0.36 mi	Flat 2, The Pinnacle, Kings Road, Reading RG1 4LY	-	-	2	Flat
£188K	07/23	0.39 mi	Flat 6, Nelson Mews, St Giles Close, Reading RG1 2SF	-	-	2	Flat
£300K	02/25	0.4 mi	55 Stirling House, Flat 6, Silver Street, Reading RG1 2SU	£4,286	70	2	Flat
£290K	02/25	0.41 mi	83, Luscinia View, Reading RG1 8AE	£3,973	73	2	Flat
£240K	07/21	0.44 mi	11, Deansgate Road, Reading RG1 2RZ	-	-	2	Flat
£230K	02/25	0.45 mi	Hieatt Close, 20, Mount Pleasant, Reading RG1 2QH	£3,333	69	2	Flat
£230K	09/21	0.45 mi	Flat 2, Sovereign Court, Mount Pleasant Grove, Reading RG1 2TS	-	-	2	Flat
£253K	06/25	0.54 mi	3, Riverside House, Fobney Street, Reading RG1 6BH	£3,721	68	2	Flat
£253K	06/25	0.54 mi	3, Riverside House, Fobney Street, Reading RG1 6BH	-	-	2	Flat
£180K	06/23	0.57 mi	Flat 19, Icon House, Merchants Place, Reading RG1 1EQ	-	-	2	Flat
£200K	03/25	0.58 mi	5, Fobney Street, Reading RG1 6BY	£4,762	42	2	Flat
£265K	09/21	0.59 mi	34, Swan Place, Reading RG1 6QD	£4,103	65	2	Flat
£230K	03/25	0.61 mi	28, Farringdon Court, Reading RG1 5NT	£4,182	55	2	Flat
£261.5K	02/23	0.63 mi	1, Westerham Walk, Reading RG2 0BA	-	-	2	Flat
£300K	06/21	0.63 mi	Flat 10, Simmonds Malthouse, Fobney Street, Reading RG1 6BS	-	-	2	Flat
£101.4K	02/23	0.68 mi	23, Talbot Court, Reading RG1 6QH	£2,157	47	2	Flat
£190K	05/25	0.69 mi	41, Capital Point, Temple Place, Reading RG1 6QJ	£3,585	53	2	Flat
£190K	05/25	0.69 mi	41, Capital Point, Temple Place, Reading RG1 6QJ	-	-	2	Flat
£170K	01/23	0.69 mi	Flat 48, Lynden Mews, Dale Road, Reading RG2 0AT	-	-	2	Flat
£322K	10/24	0.7 mi	25, Send Road, Caversham, Reading RG4 8EH	£4,879	66	2	Flat
£240K	09/21	0.71 mi	10, Southern Hill, Reading RG1 5ES	£4,706	51	2	Flat
£368K	03/25	0.73 mi	5 9 Riverside View, Flat 67, Berkeley Avenue, Reading RG1 6FH	£4,973	74	2	Flat
£245K	07/25	0.75 mi	18b, Coldicutt Street, Caversham, Reading RG4 8DU	-	-	2	Flat
£220K	06/21	0.75 mi	47, Tippett Rise, Reading RG2 0DJ	£3,056	72	2	Flat
£250.1K	12/24	0.76 mi	Morton Court, 5, Christchurch Road, Reading RG2 7BB	£3,848	65	2	Flat
£195K	03/23	0.76 mi	104, Tippett Rise, Reading RG2 0DZ	£2,786	70	2	Flat
£310K	05/25	0.79 mi	Flat 501, 20 Honister, Alfred Street, Reading RG1 7AH	£4,844	64	2	Flat
£310K	05/25	0.79 mi	Flat 501, 20 Honister, Alfred Street, Reading RG1 7AH	-	-	2	Flat
£256.5K	12/24	0.8 mi	Morton Court, 20, Christchurch Road, Reading RG2 7BB	£3,946	65	2	Flat
£295K	01/25	0.81 mi	Regents Riverside, Flat 8, Brigham Road, Reading RG1 8QS	£4,758	62	2	Flat
£363K	06/23	0.81 mi	Flat 57, Regents Riverside, Brigham Road, Reading RG1 8QS	-	-	2	Flat
£255K	02/23	0.81 mi	1, Haywood Court, Reading RG1 3QF	£3,295	77	2	Flat
£220K	06/25	0.82 mi	183a, Elgar Road, Reading RG2 0DH	£3,188	69	2	Flat

Local Rents

50 rents from £1.2K/mo to £3.8K/mo, average is £1.6K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,650	07/24	0 mi	Kennet Street, Reading, Berkshire, RG1	2	Flat
£1,650	07/24	0 mi	Kennet Street, Reading, Berkshire, RG1	2	Flat
£1,700	07/25	0 mi	Kennet Street, Reading, Berkshire, RG1	2	Flat
£1,400	11/25	0 mi	Kennet Street, Reading, Berkshire, RG1	2	Flat
£1,600	07/24	0 mi	Kennet Street	2	Flat
£1,600	08/24	0 mi	Kennet Street, Reading, RG1	2	Flat
£1,650	08/25	0.01 mi	Kennet Street, Reading, Berkshire, RG1	2	Flat
£1,550	11/25	0.01 mi	Kennet Street, Reading, RG1	2	Flat
£1,600	11/25	0.01 mi	Kennet Street, Reading, Berkshire, RG1	2	Flat
£1,700	07/25	0.01 mi	20 Kennet Street, Reading, Berkshire, RG1	2	Flat
£1,595	06/25	0.01 mi	Q, 20 Kennet Street, Reading, Berkshire, RG1	2	Flat
£1,850	06/25	0.01 mi	Kennet Street, Reading, Berkshire, RG1	2	Flat
£1,495	10/25	0.01 mi	Kennet Street, Reading, Berkshire, RG1	2	Flat
£1,600	10/25	0.01 mi	Kennet Street, Reading, Berkshire, RG1	2	Flat
£1,695	06/25	0.01 mi	Kennet Street, Reading, Berkshire, RG1	2	Flat
£1,800	11/25	0.01 mi	Kennet Street, Reading, Berkshire, RG1	2	Flat
£1,625	08/25	0.01 mi	-	2	Flat
£1,700	08/25	0.01 mi	Kennet Street, Reading, RG1	2	Flat
£1,600	11/25	0.01 mi	-	2	Flat
£1,600	09/25	0.01 mi	Kennet Street, Reading, RG1	2	Flat
£1,500	08/25	0.01 mi	Watlington Street, Reading, Berkshire, RG1	2	Flat
£1,750	07/24	0.01 mi	-	2	Flat
£1,750	07/24	0.01 mi	Kennet Street, Reading, RG1	2	Flat
£1,750	07/24	0.01 mi	Kennet Street, Reading, Berkshire, RG1	2	Flat
£1,675	06/25	0.01 mi	Kennet Street, Reading, Berkshire, RG1	2	Flat
£1,700	07/24	0.01 mi	Kennet Street, Reading, RG1	2	Flat
£1,700	07/25	0.01 mi	Kennet Street, Reading, RG1	2	Flat
£1,700	09/24	0.01 mi	-	2	Flat
£3,761	04/25	0.02 mi	-	2	Flat
£1,500	08/24	0.02 mi	Q2 Watlington Street, Reading	2	Flat
£2,375	10/24	0.02 mi	-	2	Flat
£2,375	01/25	0.02 mi	-	2	Flat
£1,600	08/24	0.02 mi	Watlington Street, Reading	2	Flat
£1,595	11/25	0.02 mi	Watlington Street, Reading, Berkshire, RG1	2	Flat
£1,425	07/25	0.03 mi	-	2	Terraced House
£1,600	09/24	0.03 mi	Barkham Mews, Queens Road, Reading, Berkshire, RG1	2	Terraced House
£1,500	02/24	0.03 mi	-	2	Flat
£1,400	02/25	0.03 mi	-	2	Flat
£1,750	09/24	0.03 mi	Queens Road, Reading, Berkshire, RG1	2	Flat
£1,275	06/25	0.03 mi	Queens Road, Reading, Berkshire, RG1	2	Flat
£1,250	11/25	0.03 mi	Queens Road, Reading, Reading, RG1	2	Flat
£1,650	08/25	0.04 mi	Queens Road, 130 Queens Road, RG1	2	Flat
£1,550	07/24	0.04 mi	Q2 Watlington Street, Reading, RG1	2	Flat
£1,550	08/24	0.04 mi	-	2	Flat
£1,600	10/25	0.04 mi	Queens Wharf, 47 Queens Road, Reading, RG1	2	Flat
£1,550	09/24	0.05 mi	Kennet Side, Reading, RG1	2	Flat
£1,850	07/25	0.05 mi	Kennet Side, Reading, RG1	2	Flat
£2,250	10/25	0.05 mi	Queens Wharf, Queens Road, Reading, RG1	2	Flat
£1,400	07/24	0.05 mi	Watlington Street, Reading	2	Flat
£1,200	09/25	0.05 mi	Watlington Street, Reading, RG1	2	Flat

Local Area Statistics

Population in RG1	43,08543,085
Population in Reading	321,187321,187
Town centre distance	0.54 miles away0.54 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.60 miles away0.60 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+5%+5%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+9%+9%

Property History

Price changed to £250,000

December 4, 2024

Listed for £260,000

May 1, 2024

Floor Plans

Description

Two Bedrooms +
Extended Lease +
Two bathrooms (one en suite) +
Kitchen +
Lounge/sitting room +
Underground parking +
No onward chain +

Presented to the market is this spacious two double bedroom apartment.

The home is presented in good condition throughout. The property consists of two double bedrooms which the master benefits from an ensuite, large lounge/sitting room with glass sliding doors that leads to the dining room which has floor to ceiling windows allowing an abundance of natural light to flood the property. This is a really flexible space and could potentially be used as a playroom or study. There is also a separate kitchen and a further family bathroom. There is an allocated underground parking space and the current owners have also recently extended the lease of the apartment to 173 years.

The apartment would make an excellent first time or investment purchase and an early viewing is highly recommended to avoid disappointment.

Agent Details

Romans, Reading

0118 230 5271

Next Steps?

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

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