6 Bed HMO, Reading, RG2 0EL, £500,000

Reading, Berkshire, RG2 0EL - a year ago

HMO

ROI: 6%

~166 m²

+7 photos

ValuationUndervalued

Sold Prices	£350K - £1.6M
Sold Prices/m²	£2.9K/m² - £5.6K/m²

Square Metres	~165.70 m²
Price/m²	£3K/m²
Value Estimate	£615,716£615,716
BMV	23%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£125,000£125,000
Stamp Duty & Legal Fees	£41,200£41,200
Total Cash In	£166,200£166,200

Cash Out
Room Rate	£659£659
Gross Rent	£3,954£3,954
Running Costs/mo	£3,119£3,119
Cashflow/mo	£835£835
Cashflow/yr	£10,024£10,024
ROI	6%6%
Gross Yield	9%9%

Local Sold Prices

16 sold prices from £350K to £1.6M, average is £780K. £2.9K/m² to £5.6K/m², average is £3.7K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£400K	04/23	0.08 mi	82, Basingstoke Road, Reading RG2 0EL	£2,974	135	6	Terraced House
£350K	03/23	0.08 mi	24, Basingstoke Road, Reading RG2 0EL	£2,869	122	6	Terraced House
£1.1M	08/22	0.85 mi	10, Alexandra Road, Reading RG1 5PD	£3,145	362	6	Detached House
£932.5K	01/22	1.08 mi	96, Berkeley Avenue, Reading RG1 6HY	£2,896	322	6	Detached House
£1.1M	01/23	1.21 mi	7, Downshire Square, Reading RG1 6NJ	-	-	6	Detached House
£625K	05/21	1.5 mi	1, Monks Way, Reading RG30 3DP	£3,453	181	6	Semi-Detached House
£680K	02/23	1.6 mi	19, Pascal Crescent, Shinfield, Reading, Wokingham RG2 9FP	£3,716	183	6	Detached House
£820K	05/23	1.63 mi	10, Pascal Crescent, Shinfield, Reading, Wokingham RG2 9FP	-	-	6	Detached House
£740K	01/23	1.81 mi	62, Liebenrood Road, Reading RG30 2EB	-	-	6	Detached House
£610K	12/20	1.96 mi	26, Moorhen Drive, Lower Earley, Reading, Wokingham RG6 4NZ	£4,150	147	6	Detached House
£960K	08/23	2.19 mi	17, Derby Road, Caversham, Reading RG4 5HE	-	-	6	Semi-Detached House
£975K	02/23	2.26 mi	37, Grosvenor Road, Caversham, Reading RG4 5EN	-	-	6	Detached House
£720K	04/21	2.3 mi	69, Gloucester Avenue, Shinfield, Reading, Wokingham RG2 9GA	£4,621	156	6	Detached House
£1.6M	11/21	2.49 mi	3, Mapledene, Caversham, Reading RG4 7DQ	£5,556	297	6	Detached House
£945K	11/20	2.56 mi	1, South Drive, Sonning, Reading, Wokingham RG4 6GB	£4,056	233	6	Detached House
£680K	08/21	2.69 mi	19, Simmonds Crescent, Lower Earley, Reading, Wokingham RG6 3WF	£3,799	179	6	Detached House

Local Area Statistics

Population in RG2	36,86636,866
Population in Reading	321,187321,187
Town centre distance	0.87 miles away0.87 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	1.28 miles away1.28 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+4%+4%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	-3%-3%

Property History

Price changed to £500,000

January 8, 2025

Listed for £525,000

May 8, 2024

Floor Plans

Description

Town Centre / Hospital / University +
Six Bedroom HMO +
Ensuite Rooms +
Communal areas and kitchen +
Substantial period terrace property +

Property Description

Set in this popular location within the Town Centre, The Oracle, Reading Station, Hospital and University area is this six bedroom HMO currently let and producing circa £42,000 PA

Agent Details

Chancellors, Reading

0118 230 1565

Next Steps?

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

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