2 Bed Flat, Single Let, Reading, RG2 9FL, £240,000

18 Cirrus Drive, Reading, Wokingham, RG2 9FL - 9 months ago

BTL

ROI: 4%

61 m²

+17 photos

ValuationOvervalued

Sold Prices	£97.5K - £305K
Sold Prices/m²	£2.9K/m² - £5.1K/m²

Square Metres	61 m²
Price/m²	£3.9K/m²
Value Estimate	£220,644£220,644

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£60,000£60,000
Stamp Duty & Legal Fees	£8,700£8,700
Total Cash In	£68,700£68,700

Cash Out
Rent Range	£1,150 - £1,550£1,150 - £1,550
Rent Estimate	£1,300
Running Costs/mo	£1,030£1,030
Cashflow/mo	£270£270
Cashflow/yr	£3,240£3,240
ROI	5%5%
Gross Yield	7%7%

Local Sold Prices

29 sold prices from £97.5K to £305K, average is £215K. £2.9K/m² to £5.1K/m², average is £3.6K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£200K	03/21	0.02 mi	26, Rossby, Shinfield, Reading, Wokingham RG2 9FS	£3,846	52	2	Flat
£219K	09/21	0.02 mi	6, Rossby, Shinfield, Reading, Wokingham RG2 9FS	£3,590	61	2	Flat
£227.5K	06/21	0.02 mi	4, Rossby, Shinfield, Reading, Wokingham RG2 9FS	£3,482	65	2	Flat
£217.5K	12/20	0.03 mi	3, Greenwich Road, Shinfield, Reading, Wokingham RG2 9FJ	£3,346	65	2	Flat
£212.5K	04/21	0.08 mi	Second Floor Flat, 20, Cirrus Drive, Shinfield, Reading, Wokingham RG2 9FL	-	-	2	Flat
£215K	06/23	0.08 mi	First Floor Flat, 14, Cirrus Drive, Shinfield, Reading, Wokingham RG2 9FL	-	-	2	Flat
£230K	12/22	0.08 mi	Ground Floor Flat, 5, Cirrus Drive, Shinfield, Reading, Wokingham RG2 9FL	-	-	2	Flat
£220K	09/21	0.08 mi	44, Perigee, Shinfield, Reading, Wokingham RG2 9FT	-	-	2	Flat
£228K	06/23	0.08 mi	19, Aphelion Way, Shinfield, Reading, Wokingham RG2 9FR	£3,462	66	2	Flat
£97.5K	11/22	0.38 mi	Flat 16, Southglade, Whitley Wood Road, Reading RG2 8JS	-	-	2	Flat
£160K	05/21	0.56 mi	345a, Old Whitley Wood Lane, Reading, Wokingham RG2 8PY	£2,888	55	2	Flat
£220K	12/22	0.56 mi	345a, Old Whitley Wood Lane, Reading, Wokingham RG2 8PY	£3,971	55	2	Flat
£215K	08/21	0.67 mi	10, Fakenham Close, Lower Earley, Reading, Wokingham RG6 4AB	£3,644	59	2	Flat
£270K	01/23	0.68 mi	29, Songbird Close, Shinfield, Reading, Wokingham RG2 9AB	£3,214	84	2	Flat
£270K	06/23	0.69 mi	2, Felthorpe Close, Lower Earley, Reading, Wokingham RG6 4AF	-	-	2	Flat
£300K	09/21	0.74 mi	111, Skylark Way, Shinfield, Reading, Wokingham RG2 9AD	£3,896	77	2	Flat
£187.5K	01/21	0.89 mi	5a, School Green, Shinfield, Reading, Wokingham RG2 9EE	£3,676	51	2	Flat
£191K	09/21	0.92 mi	5, Langdale Gardens, Earley, Reading, Wokingham RG6 5TU	£3,183	60	2	Flat
£150K	09/22	0.92 mi	27, Langdale Gardens, Earley, Reading, Wokingham RG6 5TU	-	-	2	Flat
£175K	01/21	0.94 mi	32, Larks Meade, Earley, Reading, Wokingham RG6 5TA	£3,182	55	2	Flat
£202K	01/21	0.94 mi	48, Larks Meade, Earley, Reading, Wokingham RG6 5TA	£3,673	55	2	Flat
£150K	10/22	0.94 mi	27, Larks Meade, Earley, Reading, Wokingham RG6 5TA	-	-	2	Flat
£130K	10/22	0.95 mi	51, Larks Meade, Earley, Reading, Wokingham RG6 5TA	-	-	2	Flat
£210K	12/22	0.95 mi	38, Emmbrook Court, Reading RG6 5TZ	£3,538	59	2	Flat
£195K	12/22	0.95 mi	14, Emmbrook Court, Reading RG6 5TZ	-	-	2	Flat
£220K	08/21	0.95 mi	19, Emmbrook Court, Reading RG6 5TZ	£4,000	55	2	Flat
£252.5K	06/21	0.98 mi	1a, Flaxman Close, Earley, Reading, Wokingham RG6 5TH	-	-	2	Flat
£242K	07/23	0.98 mi	14a, Flaxman Close, Earley, Reading, Wokingham RG6 5TH	-	-	2	Flat
£305K	12/22	0.99 mi	6, Flaxman Close, Earley, Reading, Wokingham RG6 5TH	£5,147	59	2	Flat

Local Rents

22 rents from £1.1K/mo to £1.6K/mo, average is £1.4K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,300	07/24	0.02 mi	Rossby, Shinfield Park, Reading, RG2	2	Flat
£1,400	07/24	0.05 mi	Rossby, Shinfield, RG2	2	Flat
£1,450	03/25	0.06 mi	-	2	Flat
£1,400	04/25	0.06 mi	-	2	Flat
£1,395	01/25	0.06 mi	-	2	Flat
£1,300	07/24	0.08 mi	Shinfield Park, Reading, RG2 9FL	2	Flat
£1,300	10/23	0.08 mi	Shinfield Park, RG2 9FL	2	Flat
£1,150	07/24	0.08 mi	Shinfield Park, Reading, RG2 9FT	2	Flat
£1,350	02/24	0.08 mi	-	2	Flat
£1,300	07/24	0.1 mi	Rossby, Shinfield, Berkshire, RG2	2	Flat
£1,450	07/24	0.1 mi	Cirrus Drive, Shinfield, Reading, Berkshire, RG2	2	Flat
£1,400	08/24	0.1 mi	Aphelion Way, Shinfield, Reading, Berkshire, RG2	2	Flat
£1,550	10/24	0.32 mi	-	2	Flat
£1,550	08/24	0.35 mi	Whitley Wood Road, Reading, Berkshire, RG2	2	Semi-Detached House
£1,400	09/24	0.41 mi	Wentworth Avenue, Reading, Berkshire, RG2	2	Semi-Detached House
£1,400	09/24	0.43 mi	-	2	Terraced House
£1,450	08/24	0.57 mi	Gloucester Avenue, Shinfield, Berkshire, RG2	2	Flat
£1,380	01/24	0.59 mi	-	2	Semi-Detached House
£1,200	04/25	0.6 mi	-	2	Semi-Detached House
£1,400	12/24	0.61 mi	-	2	Terraced House
£1,500	02/24	0.61 mi	-	2	Flat
£1,500	12/24	0.61 mi	-	2	Flat

Local Area Statistics

Population in RG2	36,86636,866
Population in Reading	321,187321,187
Town centre distance	2.62 miles away2.62 miles away
Nearest school	0.40 miles away0.40 miles away
Nearest train station	2.13 miles away2.13 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 £240,000

December 4, 2024

Listed for £250,000

July 26, 2024

Sold for £209,000

2006

Floor Plans

Description

Situated in the very popular Shinfield Park development.

This two double bedroom property comes to market with No Onward Chain . Ideal possibly for an investor as the property is already let, or to a first time buyer as a good first step onto the property ladder.
The property offers two double bedrooms the main bedroom with an En-Suite shower room, a family bathroom and open plan living room/kitchen.
There is one allocated parking space which comes with the property.
The property has been kept in good condition and is in a very popular location in Shinfield.
M4 junction 11 is just a couple of minutes’ drive giving relatively easy access to London or the west Country. Loal amenities are a few minutes’ walk. Regular buses into Reading and Wokingham are also a short walk away.
Green Park village has its own train station taking people into London on the Elizabeth line, just a short drive away.
There are 181 Years left on the lease, £250 per Anum ground rent £1800 per Anum service charge.

Agent Details

Gooding & Co, Reading

0118 987 1066

Next Steps?

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

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