3 Bed Semi-Detached House, Refurb/BRRR, Reading, RG31 4SP, £385,000

Bitterne Avenue, Tilehurst, RG31 4SP - 2 views - 5 months ago

Sold STC
Refurb/BRRR
ROI: 1%
~93 m²
+7 photos

ValuationFair Value

Sold Prices£302.5K - £515K
Sold Prices/m²£2.7K/m² - £6.1K/m²

 

 

Square Metres

~93 m²
Price/m²£4.1K/m²

Value Estimate

£380,457

 

 

End Value (After Refurb)

£379,950

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£96,250

Stamp Duty & Legal Fees

£19,500

Refurb Costs

£43,052

Bridging Loan Interest

£10,106

Total Cash In

£170,658

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£379,950

Mortgage (After Refinance)

£284,963

Mortgage LTV

75%

Cash Left In

£170,658

Equity

£94,988

Rent Range

£1,500 - £2,250

Rent Estimate

£1,770

Running Costs/mo

£1,561

Cashflow/mo

£209

Cashflow/yr

£2,504

ROI

1%

Gross Yield

6%

Local Sold Prices

50 sold prices from £302.5K to £515K, average is £377K. £2.7K/m² to £6.1K/m², average is £4.2K/m².

PriceDateDistanceAddressBeds 
£397K05/210.03 mi10, Starlings Drive, Tilehurst, Reading, West Berkshire RG31 4ST3
£412K06/230.05 mi7, Linnet Close, Tilehurst, Reading, West Berkshire RG31 4SR3
£328.5K03/230.07 mi2, Warbler Close, Tilehurst, Reading, West Berkshire RG31 4ZQ3
£379.9K10/200.07 mi25, Robin Way, Tilehurst, Reading, West Berkshire RG31 4SW3
£340K02/230.07 mi12, Bitterne Avenue, Tilehurst, Reading, West Berkshire RG31 4SP3
£347.5K11/200.07 mi25, Bitterne Avenue, Tilehurst, Reading, West Berkshire RG31 4SP3
£370.9K03/210.07 mi1, Bitterne Avenue, Tilehurst, Reading, West Berkshire RG31 4SP3
£330K06/210.1 mi54, Starlings Drive, Tilehurst, Reading, West Berkshire RG31 4SU3
£328K04/210.1 mi10, Bitterne Avenue, Tilehurst, Reading, West Berkshire RG31 4SP3
£305K02/210.1 mi203, City Road, Tilehurst, Reading, West Berkshire RG31 4SL3
£385K05/210.13 mi25, Partridge Drive, Tilehurst, Reading, West Berkshire RG31 4SX3
£378K06/210.14 mi42, Curlew Drive, Tilehurst, Reading, West Berkshire RG31 4TA3
£340K12/200.14 mi17, Curlew Drive, Tilehurst, Reading, West Berkshire RG31 4TA3
£425K07/230.14 mi33, Curlew Drive, Tilehurst, Reading, West Berkshire RG31 4TA3
£305K12/200.14 mi68, Curlew Drive, Tilehurst, Reading, West Berkshire RG31 4TA3
£380K05/210.14 mi19, Curlew Drive, Tilehurst, Reading, Berkshire RG31 4TA3
£342K11/200.15 mi22, Barton Road, Tilehurst, Reading, Berkshire RG31 5NJ3
£376K07/230.15 mi38, Barton Road, Tilehurst, Reading, West Berkshire RG31 5NJ3
£310K09/210.17 mi44, Barton Road, Tilehurst, Reading, West Berkshire RG31 5NJ3
£395K01/230.17 mi7, Swallow Close, Tilehurst, Reading, West Berkshire RG31 4SN3
£337.5K05/230.17 mi4, Ashwood Close, Tilehurst, Reading, West Berkshire RG31 4EX3
£425K11/200.18 mi16a, Magpie Way, Tilehurst, Reading, West Berkshire RG31 4SJ3
£318.5K09/200.19 mi14, Woodbridge Road, Tilehurst, Reading, West Berkshire RG31 5NQ3
£368K11/200.21 mi37, Farm Drive, Tilehurst, Reading, West Berkshire RG31 4EU3
£450K01/230.22 mi5, Farm Drive, Tilehurst, Reading, West Berkshire RG31 4EU3
£515K08/230.24 mi11, Voller Drive, Tilehurst, Reading, West Berkshire RG31 4SE3
£408K03/210.24 mi18, Voller Drive, Tilehurst, Reading RG31 4SE3
£330K03/210.25 mi18, Highbury Road, Tilehurst, Reading, West Berkshire RG31 5JL3
£320K09/210.25 mi14, The Fells, Tilehurst, Reading, Berkshire RG31 5XY3
£445K09/210.26 mi69, Blewbury Drive, Tilehurst, Reading, West Berkshire RG31 5HJ3
£302.5K11/200.26 mi69, Blewbury Drive, Tilehurst, Reading, West Berkshire RG31 5HJ3
£359K12/220.26 mi5, Mendip Drive, Tilehurst, Reading, West Berkshire RG31 5XX3
£302.5K11/200.26 mi69, Blewbury Drive, Tilehurst, Reading, West Berkshire RG31 5HJ3
£475K05/230.26 mi55, Blewbury Drive, Tilehurst, Reading, West Berkshire RG31 5HJ3
£400K01/210.27 mi14, Glenwood Drive, Tilehurst, Reading RG31 4HE3
£395K04/210.28 mi146, Park Lane, Tilehurst, Reading RG31 4DU3
£500K11/220.28 mi121c, Langley Hill, Tilehurst, Reading, West Berkshire RG31 4EH3
£457.5K02/230.28 mi8, Glenwood Drive, Tilehurst, Reading RG31 4HE3
£435K07/230.28 mi58, City Road, Tilehurst, Reading, West Berkshire RG31 5HB3
£400K01/230.28 mi60, City Road, Tilehurst, Reading, West Berkshire RG31 5HB3
£340K04/210.3 mi31, City Road, Tilehurst, Reading RG31 4HA3
£487K11/200.32 mi19, Longworth Avenue, Tilehurst, Reading, West Berkshire RG31 5JU3
£470K05/230.32 mi63, Longworth Avenue, Tilehurst, Reading, West Berkshire RG31 5JU3
£324K03/230.33 mi149, Park Lane, Tilehurst, Reading RG31 4DR3
£400K07/230.33 mi94, Halls Road, Tilehurst, Reading RG30 4PU3
£376K03/210.34 mi38, Longworth Avenue, Tilehurst, Reading, West Berkshire RG31 5JY3
£420K03/230.34 mi68, Longworth Avenue, Tilehurst, Reading, West Berkshire RG31 5JY3
£320K03/210.36 mi2, Hugh Fraser Drive, Tilehurst, Reading, West Berkshire RG31 4QZ3
£440K01/230.37 mi44, Warborough Avenue, Tilehurst, Reading, West Berkshire RG31 5LA3
£355K04/210.38 mi28, Warborough Avenue, Tilehurst, Reading, West Berkshire RG31 5LA3

Local Rents

11 rents from £1.5K/mo to £2.3K/mo, average is £1.7K/mo.

RentDateDistanceAddressBeds 
£1,50007/240.19 miWoodbridge Road, Tilehurst, Reading, Berkshire, RG313
£2,00007/240.3 miPark Lane, Tilehurst, Reading, RG313
£2,00007/240.3 mi-3
£2,00010/240.3 mi-3
£1,69506/240.31 mi-3
£1,50007/240.44 miPoppy Way3
£1,62507/240.5 mi-3
£1,50008/240.51 miFern Walk, Calcot, Reading, RG313
£2,25007/240.56 miHalls Road, Tilehurst, Reading, Berkshire, RG303
£1,60008/240.6 miGatcombe Close3
£1,80007/240.61 miGatcombe Close, Calcot, Reading, Berkshire, RG313

Local Area Statistics

Population in RG31

27,996

Population in Reading

321,187

Town centre distance

3.45 miles away

Nearest school

0.20 miles away

Nearest train station

1.52 miles away

 

 

Rental growth (12m)

+2%

Sales demand

Seller's market

Capital growth (5yrs)

+11%

Property History

Listed for £385,000

August 19, 2024

Floor Plans

Description

  • Three/Four Bedrooms +
  • 21ft Kitchen/Breakfast Room +
  • Bathroom and Separate WC +
  • Gas Central Heating & Double Glazing +
  • Garage and Driveway Parking +

Attention renovators and visionaries! This home is a hidden gem waiting to be polished. With its charming vintage details and original character, this property offers a unique opportunity to restore its former glory. Don’t miss your chance to create a true masterpiece that will stand the test of time as a family home. A chance to potentially add value to your asset for a bright future. Located on the popular 'Birds Estate' this 3/4 bedroom semi-detached property comes to the market with the benefit of No Onward Chain, a garage and driveway parking. In need of some updating, you may have the vision to remove a couple of partial walls to create one large luxury bathroom and three spacious bedrooms for your family.

The Kitchen Diner is a fabulous family space that could benefit from some updating with new doors and drawer fronts but once you have put your interior designs into action this would be the real hub of the home. The interesting, glazed panel adds to the charm and light. Through a door you will find an extra room that could be a formal dining area or playroom as it has double doors out onto the garden. In summer this is the perfect spot for entertaining and socialising. The formal Reception Room is bright and airy with a large picture window ideal for a budding stylist to add their own décor and furnishings. The feature fireplace is complimented by the wooden flooring and perfect for displaying ornaments and candles. Stairs lead to the first floor, and have original metal railings that are a feature to this property. The Two Double Bedrooms are a blank canvas for you to add the latest hues and tones, large windows offer sunlight and views to wake up to in the mornings. A further large Bedroom is currently split by a temporary partition wall to create two rooms with borrowed light window and door to the middle room. This could easily be reverted back to a large principal bedroom that would be spacious and inviting, creating three double rooms. Currently the Bathroom and toilet are separated by a stud wall and if removed this would allow for an inviting space in which to unwind at the end of the day. The property is priced to reflect the updating required but with a few tweaks and imagination you can create a real masterpiece.

The property has a lovely rear garden with patio, lawned area and separate shingled space with free standing shed, all enclosed by wood panel fencing. The outlook is to mature trees and the sun streams in during the warmer months, perfect for family barbeques and al fresco dining.

The excellent location offers access to regular bus services into Reading Town centre, sought after schools, and with easy reach of Little Heath Park.
Material Information: Part A. Property: Three Bedroom Semi Detached House Tenure: Freehold Local Authority / Council Tax: Reading Borough Council - D EPC: D Part B. Property Construction: Brick and Block Services. Gas: Mains Water: Mains Drainage: Mains Electricity: Mains  Heating: Gas Radiator Central Heating Broadband: FTTP (Ofcom) Mobile: Likely (OfCom) Part C. Parking: Driveway Parking  

EPC Rating: D

Agent Details

Property Assistant UK Ltd, Wokingham

0118 230 6265

Next Steps?

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