2 Bed Flat, Single Let, Reading, RG1 4NN, £200,000

211 Kings Road, Reading, RG1 4NN - 10 views - 8 months ago

Leasehold
BTL
ROI: 11%
30 m²
+2 photos

ValuationOvervalued

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

 

 

Square Metres

30 m²
Price/m²£6.7K/m²

Value Estimate

£115,138

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£50,000

Stamp Duty & Legal Fees

£7,200

Total Cash In

£57,200

 

 

Cash Out

 

Rent Range

£1,400 - £3,500

Rent Estimate

£1,473

Running Costs/mo

£940

Cashflow/mo

£533

Cashflow/yr

£6,401

ROI

11%

Gross Yield

9%

Local Sold Prices

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

PriceDateDistanceAddressBeds 
£229K01/210.04 mi29 Compass House, South Street, Reading RG1 4GQ2
£330K06/210.13 miFlat 22, Q2, Watlington Street, Reading RG1 4AY2
£275K05/230.2 mi78, Kennet Walk, Reading RG1 3GF2
£247.8K11/210.23 miFlat 7, Greys Court, Sidmouth Street, Reading RG1 4PP2
£245K12/220.25 miFlat 15, The Pinnacle, Kings Road, Reading RG1 4LY2
£283K02/230.25 miFlat 2, The Pinnacle, Kings Road, Reading RG1 4LY2
£146K06/210.28 mi6, Robert Parker Road, Reading RG1 3FN2
£295K04/230.29 miFlat 30, Kings Oak Court, Queens Road, Reading RG1 4PX2
£270K07/210.29 miFlat 18, Kings Oak Court, Queens Road, Reading RG1 4PX2
£229K01/210.41 mi29 Compass House, South Street, Reading RG1 4GQ2
£188K07/230.48 miFlat 6, Nelson Mews, St Giles Close, Reading RG1 2SF2
£230K09/210.49 miFlat 2, Sovereign Court, Mount Pleasant Grove, Reading RG1 2TS2
£240K07/210.54 mi11, Deansgate Road, Reading RG1 2RZ2
£261.5K02/230.66 mi1, Westerham Walk, Reading RG2 0BA2
£240K09/210.66 mi10, Southern Hill, Reading RG1 5ES2
£255K11/200.66 mi32, Southern Hill, Reading RG1 5ES2
£180K06/230.68 miFlat 19, Icon House, Merchants Place, Reading RG1 1EQ2
£255K02/230.7 mi1, Haywood Court, Reading RG1 3QF2
£250K02/210.7 miFlat 21, Projection West, Merchants Place, Reading RG1 1ET2
£265K09/210.7 mi34, Swan Place, Reading RG1 6QD2
£145K11/200.71 mi4, Katesgrove Lane, Reading RG1 2ND2
£300K06/210.73 miFlat 10, Simmonds Malthouse, Fobney Street, Reading RG1 6BS2
£170K01/230.76 miFlat 48, Lynden Mews, Dale Road, Reading RG2 0AT2
£101.4K02/230.79 mi23, Talbot Court, Reading RG1 6QH2
£290K12/220.8 miFlat 36, Milward Court, Warwick Road, Reading RG2 7BG2
£220K06/210.81 mi47, Tippett Rise, Reading RG2 0DJ2
£195K03/230.82 mi104, Tippett Rise, Reading RG2 0DZ2
£200K11/200.84 miTop Floor Flat, 183a, Elgar Road, Reading RG2 0DH2
£208K03/210.85 mi4, St Pauls Court, Reading RG1 6HF2
£270.9K10/220.87 mi100a, Meadow Way, Caversham, Reading RG4 5LY2
£230K09/210.87 mi124, Meadow Way, Caversham, Reading RG4 5LY2
£220K06/210.87 mi34, Meadow Way, Caversham, Reading RG4 5LY2
£200K06/210.88 mi72, Amersham Road, Caversham, Reading RG4 5NA2
£245K02/210.88 mi84, Amersham Road, Caversham, Reading RG4 5NA2
£300K04/210.91 miFlat 18, Regents Riverside, Brigham Road, Reading RG1 8QS2
£363K06/230.91 miFlat 57, Regents Riverside, Brigham Road, Reading RG1 8QS2
£265K10/220.91 mi140, Gosbrook Road, Caversham, Reading RG4 8BJ2
£234K10/200.92 miFlat 16, Jeffrey Place, Caversham Road, Reading RG1 7AY2
£262.5K09/210.93 mi91, Elliots Way, Caversham, Reading RG4 8BW2
£265K03/210.93 mi71, Elliots Way, Caversham, Reading RG4 8BW2
£295K02/230.94 mi74, Elliots Way, Caversham, Reading RG4 8BF2
£330K01/230.94 mi86, Elliots Way, Caversham, Reading RG4 8BF2
£230K05/210.97 mi168, Gosbrook Road, Caversham, Reading RG4 8BJ2
£250K10/220.98 mi94, Gosbrook Road, Caversham, Reading RG4 8BJ2
£185K12/200.99 mi1, Alston Walk, Caversham, Reading RG4 5DD2
£215K04/230.99 mi23, Stratheden Place, Reading RG1 7BH2

Local Rents

50 rents from £1.4K/mo to £3.5K/mo, average is £1.9K/mo.

RentDateDistanceAddressBeds 
£1,50007/240 mi-2
£1,40007/240.01 miKings Rd, Reading2
£1,45007/240.01 miHanover House, 202 Kings Road, Reading, RG12
£1,90008/240.03 mi-2
£1,65007/240.03 miKings Road, Reading, RG12
£3,00007/240.03 mi-2
£2,65007/240.03 mi-2
£2,75007/240.03 mi-2
£2,99507/240.03 mi-2
£3,44008/240.03 mi-2
£3,00008/240.03 mi-2
£3,44008/240.03 mi-2
£3,44012/240.03 mi-2
£3,44009/240.03 mi-2
£2,90009/240.03 mi-2
£3,15001/250.03 mi-2
£2,45001/250.03 mi-2
£3,44009/240.03 mi-2
£3,44009/240.03 mi-2
£3,44011/240.03 mi-2
£3,44011/240.03 mi-2
£2,50001/250.03 mi-2
£2,98003/250.03 mi-2
£2,95003/250.03 mi-2
£2,99503/250.03 mi-2
£3,15003/250.03 mi-2
£3,50004/250.03 mi-2
£3,40004/250.03 mi-2
£3,49504/250.03 mi-2
£1,68008/240.04 miKings Road, Reading, RG12
£1,90007/240.04 miKings Road, Reading, Berkshire, RG12
£1,90007/240.04 miKings Road, Reading, Berkshire, RG12
£1,85007/240.04 miKings Road, Reading, Berkshire, RG12
£1,65007/240.04 miKings Road, Reading, Berkshire, RG12
£1,60007/240.04 miKings Road, Reading, Berkshire, RG12
£1,90007/240.04 miKings Road, Reading, RG12
£1,90007/240.04 miKings Road, Reading, RG12
£1,85007/240.04 miKings Road, Reading, RG12
£1,60007/240.04 miKings Road, Reading, RG12
£1,85007/240.04 miKings Road, Reading, RG12
£1,86007/240.04 mi-2
£1,90007/240.04 mi-2
£1,90007/240.04 mi-2
£1,79507/240.04 mi-2
£1,72507/240.04 mi-2
£1,86007/240.04 miKings Road, Reading, RG12
£1,50007/240.04 miKings Road, Reading, Berkshire, RG12
£1,49507/240.04 miMontpelier House2
£1,75004/250.04 mi-2
£1,50007/240.05 mi-2

Local Area Statistics

Population in RG1

43,085

Population in Reading

321,187

Town centre distance

0.65 miles away

Nearest school

0.20 miles away

Nearest train station

0.71 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+18%

Sales demand

Balanced market

Capital growth (5yrs)

+7%

Property History

Listed for £200,000

September 2, 2024

Floor Plans

Description

  • Walking distance of amenities and town centre +
  • Second floor location +
  • Immaculate condition throughout +
  • two double bedrooms +
  • No onward chain +
  • Open plan living space +

Offered to the market with no onward chain is this two bedroom second floor apartment. Presented in immaculate condition the property is located a short distance from local amenities and the Reading town center too.
The accommodation comprises of two double bedrooms a large three piece bathroom and, thanks to the double aspect, a light and airy open plan kitchen living space. This property also benefits from an allocated parking space.
This property really offers the opportunity for someone to move in straight straight away without the concern of any maintenance work. We recommend coming to view to fully appreciate the great location and also presentation of this property.

Additional Information: - Parking
There is an allocated parking space that comes with this property.

Part A
Lease information.
Years remaining: 991 (Share or freehold)
Service charge: £2,400 PA
Ground rent: £0

Part B
Property construction – Standard form
Services:
Water – mains
Drainage – mains
Electricity - mains
Heating - Electric heating

Broadband connection available (information obtained from Ofcom):
Ultrafast – Fibre to the premises (FTTP)

Mobile phone coverage
For an indication of specific speeds and supply of broadband and mobile, we recommend potential buyers go to the Ofcom web-site “Broadband and mobile coverage checker”

Part C

The current seller of this property is not a qualified leaseholder, this may present issues for onward protection under the building safety act, for further details please contact the office.

The property is located on the second floor and accessed via a lift.

Rental Yield - We believe the current rental value for a furnished let would be £1,350 per calendar month which based on the asking price represents a possible gross rental yield of 7%

Agent Details

Haslams Estate Agents, Reading

0118 230 1217

Next Steps?

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