2 Bed Flat, Single Let, Reading, RG1 5DG, £220,000

London Road, Reading, Berkshire, RG1 5DG - 2 views - 5 months ago

Sold STC

Leasehold

BTL

ROI: 6%

~54 m²

+10 photos

ValuationOvervalued

Sold Prices	£101.4K - £330K
Sold Prices/m²	£1.7K/m² - £4.7K/m²

Square Metres	~53.76 m²
Price/m²	£4.1K/m²
Value Estimate	£177,162£177,162

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£55,000£55,000
Stamp Duty & Legal Fees	£14,100£14,100
Total Cash In	£69,100£69,100

Cash Out
Rent Range	£1,200 - £4,100£1,200 - £4,100
Rent Estimate	£1,311
Running Costs/mo	£970£970
Cashflow/mo	£341£341
Cashflow/yr	£4,096£4,096
ROI	6%6%
Gross Yield	7%7%

Local Sold Prices

32 sold prices from £101.4K to £330K, average is £240K. £1.7K/m² to £4.7K/m², average is £3.3K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£229K	01/21	0.18 mi	29 Compass House, South Street, Reading RG1 4GQ	£3,053	75	2	Flat
£330K	06/21	0.24 mi	Flat 22, Q2, Watlington Street, Reading RG1 4AY	£4,352	76	2	Flat
£247.8K	11/21	0.24 mi	Flat 7, Greys Court, Sidmouth Street, Reading RG1 4PP	-	-	2	Flat
£245K	12/22	0.25 mi	Flat 15, The Pinnacle, Kings Road, Reading RG1 4LY	-	-	2	Flat
£283K	02/23	0.25 mi	Flat 2, The Pinnacle, Kings Road, Reading RG1 4LY	-	-	2	Flat
£275K	05/23	0.33 mi	78, Kennet Walk, Reading RG1 3GF	£3,125	88	2	Flat
£295K	04/23	0.36 mi	Flat 30, Kings Oak Court, Queens Road, Reading RG1 4PX	-	-	2	Flat
£270K	07/21	0.36 mi	Flat 18, Kings Oak Court, Queens Road, Reading RG1 4PX	-	-	2	Flat
£146K	06/21	0.41 mi	6, Robert Parker Road, Reading RG1 3FN	£1,718	85	2	Flat
£230K	09/21	0.42 mi	Flat 2, Sovereign Court, Mount Pleasant Grove, Reading RG1 2TS	-	-	2	Flat
£229K	01/21	0.44 mi	29 Compass House, South Street, Reading RG1 4GQ	£3,053	75	2	Flat
£188K	07/23	0.48 mi	Flat 6, Nelson Mews, St Giles Close, Reading RG1 2SF	-	-	2	Flat
£240K	09/21	0.51 mi	10, Southern Hill, Reading RG1 5ES	£4,706	51	2	Flat
£255K	11/20	0.51 mi	32, Southern Hill, Reading RG1 5ES	£4,165	61	2	Flat
£240K	07/21	0.56 mi	11, Deansgate Road, Reading RG1 2RZ	-	-	2	Flat
£261.5K	02/23	0.57 mi	1, Westerham Walk, Reading RG2 0BA	-	-	2	Flat
£290K	12/22	0.66 mi	Flat 36, Milward Court, Warwick Road, Reading RG2 7BG	-	-	2	Flat
£255K	02/23	0.68 mi	1, Haywood Court, Reading RG1 3QF	£3,295	77	2	Flat
£170K	01/23	0.7 mi	Flat 48, Lynden Mews, Dale Road, Reading RG2 0AT	-	-	2	Flat
£145K	11/20	0.71 mi	4, Katesgrove Lane, Reading RG1 2ND	£2,042	71	2	Flat
£265K	09/21	0.74 mi	34, Swan Place, Reading RG1 6QD	£4,103	65	2	Flat
£220K	06/21	0.75 mi	47, Tippett Rise, Reading RG2 0DJ	£3,056	72	2	Flat
£195K	03/23	0.75 mi	104, Tippett Rise, Reading RG2 0DZ	£2,786	70	2	Flat
£300K	06/21	0.76 mi	Flat 10, Simmonds Malthouse, Fobney Street, Reading RG1 6BS	-	-	2	Flat
£200K	11/20	0.78 mi	Top Floor Flat, 183a, Elgar Road, Reading RG2 0DH	-	-	2	Flat
£180K	06/23	0.78 mi	Flat 19, Icon House, Merchants Place, Reading RG1 1EQ	-	-	2	Flat
£250K	02/21	0.8 mi	Flat 21, Projection West, Merchants Place, Reading RG1 1ET	-	-	2	Flat
£101.4K	02/23	0.82 mi	23, Talbot Court, Reading RG1 6QH	£2,157	47	2	Flat
£208K	03/21	0.83 mi	4, St Pauls Court, Reading RG1 6HF	£3,782	55	2	Flat
£270.9K	10/22	1 mi	100a, Meadow Way, Caversham, Reading RG4 5LY	£4,516	60	2	Flat
£230K	09/21	1 mi	124, Meadow Way, Caversham, Reading RG4 5LY	£3,770	61	2	Flat
£220K	06/21	1 mi	34, Meadow Way, Caversham, Reading RG4 5LY	£3,860	57	2	Flat

Local Rents

50 rents from £1.2K/mo to £4.1K/mo, average is £1.5K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,650	07/24	0 mi	Shelley Court, 46 London Road, Reading, Berkshire, RG1	2	Flat
£1,450	07/24	0.01 mi	-	2	Flat
£1,600	07/24	0.01 mi	-	2	Flat
£1,400	04/25	0.01 mi	-	2	Flat
£1,450	07/24	0.01 mi	Shelley Court, Reading, RG1	2	Flat
£1,600	07/24	0.01 mi	Reading, Reading, RG1	2	Flat
£1,550	07/24	0.01 mi	-	2	Flat
£1,200	07/24	0.06 mi	London Road, Reading, Berkshire, RG1	2	Flat
£1,400	10/23	0.07 mi	Eldon Square, Reading, Berkshire, RG1	2	Flat
£1,450	02/25	0.09 mi	-	2	Flat
£1,500	07/24	0.09 mi	22C Eldon Road, Reading, Berkshire, RG1	2	Flat
£1,700	07/24	0.09 mi	Eldon Terrace, Reading, Berkshire, RG1	2	Terraced House
£1,700	07/24	0.1 mi	Reading, Berkshire	2	Terraced House
£2,700	01/25	0.1 mi	-	2	Semi-Detached House
£2,350	07/24	0.1 mi	-	2	Semi-Detached House
£2,700	08/24	0.1 mi	-	2	Semi-Detached House
£2,700	08/24	0.1 mi	-	2	Semi-Detached House
£1,250	07/24	0.11 mi	London Road, Reading, RG1	2	Flat
£1,400	08/24	0.11 mi	Princes Street, Reading, Berkshire, RG1	2	Terraced House
£1,350	07/24	0.11 mi	Princes Street, Reading, Berkshire, RG1	2	Terraced House
£1,345	07/24	0.13 mi	Montague Street, Reading	2	Terraced House
£1,700	04/25	0.14 mi	-	2	Flat
£1,495	07/24	0.14 mi	Kings Road, Reading, RG1	2	Flat
£1,300	07/24	0.14 mi	Charles Place, 246 Kings Road, Reading, Berkshire, RG1	2	Flat
£1,400	08/24	0.14 mi	Hanover House, 202 Kings Road, Reading, RG1	2	Flat
£1,400	11/24	0.14 mi	-	2	Flat
£1,525	01/25	0.15 mi	-	2	Flat
£1,400	09/24	0.15 mi	Kings Road, Reading	2	Flat
£1,450	07/24	0.15 mi	Hanover House, 202 Kings Road, Reading, RG1	2	Flat
£1,500	07/24	0.15 mi	-	2	Flat
£1,200	07/24	0.15 mi	Kings Road, Reading	2	Flat
£1,400	07/24	0.15 mi	Kings Rd, Reading	2	Flat
£1,500	07/24	0.15 mi	St. Johns Road, Reading, Berkshire, RG1	2	Terraced House
£1,900	08/24	0.15 mi	-	2	Flat
£1,350	07/24	0.16 mi	St. Johns Street, Reading, RG1	2	Terraced House
£1,400	08/24	0.16 mi	Edward Place, 240 Kings Road, Reading, Berkshire, RG1	2	Flat
£1,550	07/24	0.16 mi	St. Johns Hill, Reading, RG1	2	Terraced House
£1,450	07/24	0.16 mi	Conquest Court, 7-11 St. Johns Hill, Reading, RG1	2	Flat
£1,495	07/24	0.17 mi	St. Johns Hill, Reading	2	Terraced House
£1,450	08/24	0.17 mi	St. Johns Hill, Reading	2	Terraced House
£1,450	07/24	0.17 mi	St. John's Hill, Reading	2	Terraced House
£1,650	08/24	0.17 mi	London Road, Reading, RG1	2	Flat
£1,550	08/24	0.17 mi	Watlington Street, Reading, RG1	2	Flat
£1,650	07/24	0.18 mi	Kings Road, Reading, RG1	2	Flat
£4,100	10/24	0.18 mi	-	2	Flat
£4,100	09/24	0.18 mi	-	2	Flat
£4,100	02/25	0.18 mi	-	2	Flat
£4,100	01/25	0.18 mi	-	2	Flat
£3,000	02/25	0.18 mi	-	2	Flat
£4,100	10/24	0.18 mi	-	2	Flat

Local Area Statistics

Population in RG1	43,08543,085
Population in Reading	321,187321,187
Town centre distance	0.69 miles away0.69 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.83 miles away0.83 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+18%+18%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+7%+7%

Property History

Price changed to £220,000

February 28, 2025

Price changed to £235,000

December 27, 2024

Listed for £250,000

November 18, 2024

Floor Plans

Description

Two Bedrooms +
No Onward Chain +
Communal Gardens +
Town Centre Location +
Allocated Parking Space +
Second Floor With Lift Access +
Balcony +
Two Bathrooms +

Offered to the market with no onward chain and located within a short walk from Reading town centre and mainline railway station, this two bedroom, two bathroom apartment is ideal for first time buyers and investment buyers alike.

The property offers well-planned accommodation comprising: entrance hallway, two bedrooms, two bathrooms, kitchen and a living room with doors out to the balcony which overlooks the communal gardens.

The property also benefits from an allocated parking space. Viewing is recommended.

At the time of Instruction, we have been advised by the vendors of the following information:

Council Tax Band D (Reading Borough Council)

Ground rent - £150 p/a
Service charge - £2,256.60 p/a
Lease - 125 years from 1st April 1998

The above information may be subject to change during the transaction period.

Agent Details

Parkers, Reading

0118 230 6420

Next Steps?

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

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