6 Bed HMO, Reading, RG6 1QE, £600,000

15 College Road, Reading, RG6 1QE - 5 views - 4 months ago

HMO
ROI: 4%
157 m²
+5 photos

ValuationUndervalued

Sold Prices£350K - £1.6M
Sold Prices/m²£2.9K/m² - £5.8K/m²

 

 

Square Metres

157 m²
Price/m²£3.8K/m²

Value Estimate

£636,760
BMV6%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£150,000

Stamp Duty & Legal Fees

£36,700

Total Cash In

£186,700

 

 

Cash Out

 

Room Rate

£694

Gross Rent

£4,164

Running Costs/mo

£3,509

Cashflow/mo

£655

Cashflow/yr

£7,865

ROI

4%

Gross Yield

8%

Local Sold Prices

21 sold prices from £350K to £1.6M, average is £740K. £2.9K/m² to £5.8K/m², average is £3.8K/m².

PriceDateDistanceAddressBeds 
£1.1M08/220.54 mi10, Alexandra Road, Reading RG1 5PD6
£400K04/231.19 mi82, Basingstoke Road, Reading RG2 0EL6
£350K03/231.19 mi24, Basingstoke Road, Reading RG2 0EL6
£945K11/201.36 mi1, South Drive, Sonning, Reading, Wokingham RG4 6GB6
£610K12/201.79 mi26, Moorhen Drive, Lower Earley, Reading, Wokingham RG6 4NZ6
£960K08/231.86 mi17, Derby Road, Caversham, Reading RG4 5HE6
£975K02/231.87 mi37, Grosvenor Road, Caversham, Reading RG4 5EN6
£932.5K01/222.03 mi96, Berkeley Avenue, Reading RG1 6HY6
£1.1M01/232.04 mi7, Downshire Square, Reading RG1 6NJ6
£680K02/232.2 mi19, Pascal Crescent, Shinfield, Reading, Wokingham RG2 9FP6
£680K08/212.21 mi19, Simmonds Crescent, Lower Earley, Reading, Wokingham RG6 3WF6
£820K05/232.23 mi10, Pascal Crescent, Shinfield, Reading, Wokingham RG2 9FP6
£600K03/212.27 mi36, Spruce Road, Woodley, Reading, Wokingham RG5 4BB6
£675K12/202.52 mi22, Master Close, Woodley, Reading, Wokingham RG5 4UB6
£625K05/212.55 mi1, Monks Way, Reading RG30 3DP6
£650K09/212.58 mi3, Miller Drive, Winnersh, Wokingham RG41 5RP6
£1.6M11/212.7 mi3, Mapledene, Caversham, Reading RG4 7DQ6
£1.3M03/212.7 miTawnies, Sandford Lane, Woodley, Reading, Wokingham RG5 4SY6
£740K01/232.7 mi62, Liebenrood Road, Reading RG30 2EB6
£1.5M06/232.73 mi120, Kidmore End Road, Emmer Green, Reading RG4 8SL6
£720K04/212.87 mi69, Gloucester Avenue, Shinfield, Reading, Wokingham RG2 9GA6

Local Area Statistics

Population in RG6

35,930

Population in Reading

321,187

Town centre distance

1.40 miles away

Nearest school

0.20 miles away

Nearest train station

1.17 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-10%

Sales demand

Seller's market

Capital growth (5yrs)

+13%

Property History

Listed for £600,000

November 22, 2024

Sold for £305,000

2009

Floor Plans

Description

  • Licenced HMO In Article 4 Area +
  • Six Double Bedrooms +
  • Large Rear Garden +
  • Recently Refurbished +
  • Four Shower Rooms +
  • Basement With Potential To Convert +
  • Easy Access To Transport Links +
  • Close To Shops +

NO ONWARD CHAIN COMPLICATIONS

Within easy reach of a host of amenities, including Reading town centre and the mainline railway stations, this larger than average four storey Victorian town house is currently set up as a HMO with a current yearly rental return of approximately £50,000 per year.

Ideal for an investment buyer looking to add to their portfolio, the accommodation briefly comprises a large kitchen/living room, two shower rooms, a separate cloakroom and six bedrooms, all of which have kitchenettes and another with an en-suite shower room.

Having recently undergone refurbishment by the current owner, the current gross rental yield is approaching 8% and has the potential to increase this far beyond to make an even more profitable investment.

Additionally, there is driveway parking to the front, a large rear garden and there is also a basement which can be access off of the main entrance hall.

Agent Details

Prospect Estate Agency, Reading

0118 230 3819

Next Steps?

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

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