2 Bed Flat, Single Let, Reading, RG1 7AN £250,000

Mayer House, Chatham Place, Reading, Berkshire, RG1 7AN - a year ago

Sold STC

Leasehold

BTL

ROI: 6%

~77 m²

ValuationUndervalued

Sold Prices	£101.4K - £405K
Sold Prices/m²	£2.2K/m² - £5.7K/m²

Square Metres	~76.91 m²
Price/m²	£3.3K/m²
Value Estimate	£310,413£310,413
BMV	24%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£62,500£62,500
Stamp Duty & Legal Fees	£16,200£16,200
Total Cash In	£78,700£78,700

Cash Out
Rent Range	£1,400 - £2,100£1,400 - £2,100
Rent Estimate	£1,456
Running Costs/mo	£1,092£1,092
Cashflow/mo	£364£364
Cashflow/yr	£4,363£4,363
ROI	6%6%
Gross Yield	7%7%

Local Sold Prices

50 sold prices from £101.4K to £405K, average is £250.4K. £2.2K/m² to £5.7K/m², average is £4K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£310K	05/25	0.05 mi	Flat 501, 20 Honister, Alfred Street, Reading RG1 7AH	£4,844	64	2	Flat
£310K	05/25	0.05 mi	Flat 501, 20 Honister, Alfred Street, Reading RG1 7AH	-	-	2	Flat
£237.5K	03/25	0.07 mi	9, Phoenix Place, Waylen Street, Reading RG1 7UH	-	-	2	Flat
£215K	04/23	0.1 mi	23, Stratheden Place, Reading RG1 7BH	£3,839	56	2	Flat
£215K	10/21	0.2 mi	29, Bedford Road, Reading RG1 7EU	£3,468	62	2	Flat
£210K	03/25	0.22 mi	179a, Great Knollys Street, Reading RG1 7HP	£4,118	51	2	Flat
£101.4K	02/23	0.29 mi	23, Talbot Court, Reading RG1 6QH	£2,157	47	2	Flat
£180K	06/23	0.33 mi	Flat 19, Icon House, Merchants Place, Reading RG1 1EQ	-	-	2	Flat
£265K	09/21	0.33 mi	34, Swan Place, Reading RG1 6QD	£4,103	65	2	Flat
£225K	07/25	0.35 mi	Flat 3, 23, Coley Hill, Reading RG1 6AE	-	-	2	Flat
£200K	03/25	0.35 mi	5, Fobney Street, Reading RG1 6BY	£4,762	42	2	Flat
£300K	06/21	0.36 mi	Flat 10, Simmonds Malthouse, Fobney Street, Reading RG1 6BS	-	-	2	Flat
£253K	06/25	0.38 mi	3, Riverside House, Fobney Street, Reading RG1 6BH	£3,721	68	2	Flat
£253K	06/25	0.38 mi	3, Riverside House, Fobney Street, Reading RG1 6BH	-	-	2	Flat
£226.3K	03/25	0.39 mi	15, Berkeley Court, Coley Avenue, Reading RG1 6LH	£3,969	57	2	Flat
£265K	05/25	0.47 mi	10, Brownlow Lodge, Brownlow Road, Reading RG1 6NR	-	-	2	Flat
£265K	05/25	0.47 mi	10, Brownlow Lodge, Brownlow Road, Reading RG1 6NR	£4,274	62	2	Flat
£240K	07/21	0.51 mi	11, Deansgate Road, Reading RG1 2RZ	-	-	2	Flat
£190K	05/25	0.51 mi	41, Capital Point, Temple Place, Reading RG1 6QJ	£3,585	53	2	Flat
£190K	05/25	0.51 mi	41, Capital Point, Temple Place, Reading RG1 6QJ	-	-	2	Flat
£317.5K	03/25	0.58 mi	Flat 29, Upcross House, Upcross Gardens, Reading RG1 6PN	£4,349	73	2	Flat
£240K	03/25	0.6 mi	3, Baron Court, Reading RG30 2BP	£3,750	64	2	Flat
£295K	01/25	0.61 mi	Regents Riverside, Flat 8, Brigham Road, Reading RG1 8QS	£4,758	62	2	Flat
£363K	06/23	0.61 mi	Flat 57, Regents Riverside, Brigham Road, Reading RG1 8QS	-	-	2	Flat
£188K	07/23	0.61 mi	Flat 6, Nelson Mews, St Giles Close, Reading RG1 2SF	-	-	2	Flat
£368K	03/25	0.62 mi	5 9 Riverside View, Flat 67, Berkeley Avenue, Reading RG1 6FH	£4,973	74	2	Flat
£260K	07/25	0.62 mi	20, Caversham Wharf, Waterman Place, Reading RG1 8DS	-	-	2	Flat
£210K	07/25	0.63 mi	75, Admirals Court, Reading RG1 6SS	-	-	2	Flat
£235K	03/25	0.64 mi	12, Cox Hollow, Southcote Road, Reading RG30 2LA	£2,807	84	2	Flat
£237K	04/25	0.65 mi	31, Petworth Court, Reading RG1 6PH	£3,203	74	2	Flat
£237K	04/25	0.65 mi	31, Petworth Court, Reading RG1 6PH	-	-	2	Flat
£117.5K	03/25	0.65 mi	19, 115 Blenheim Court, London Street, Reading RG1 4PH	£2,304	51	2	Flat
£295K	04/23	0.66 mi	Flat 30, Kings Oak Court, Queens Road, Reading RG1 4PX	-	-	2	Flat
£270K	07/21	0.66 mi	Flat 18, Kings Oak Court, Queens Road, Reading RG1 4PX	-	-	2	Flat
£170K	01/23	0.73 mi	Flat 48, Lynden Mews, Dale Road, Reading RG2 0AT	-	-	2	Flat
£213K	02/25	0.73 mi	Ashdown House, Flat 3, Battle Square, Reading RG30 1AX	£3,381	63	2	Flat
£405K	03/25	0.74 mi	10, 47 Queen's Wharf, Queens Road, Reading RG1 4QE	£3,682	110	2	Flat
£300K	02/25	0.74 mi	55 Stirling House, Flat 6, Silver Street, Reading RG1 2SU	£4,286	70	2	Flat
£305K	11/24	0.75 mi	19, Artillery Mews, Reading RG30 2JN	£3,961	77	2	Flat
£240K	11/24	0.75 mi	Wisdom Court, 5, Southcote Road, Reading RG30 2AG	£3,636	66	2	Flat
£310K	12/24	0.76 mi	3, Flat 15, Nightingale Way, Reading RG30 1FA	£4,306	72	2	Flat
£230K	02/25	0.76 mi	Hieatt Close, 20, Mount Pleasant, Reading RG1 2QH	£3,333	69	2	Flat
£217K	07/25	0.76 mi	14, Evesham House, Battle Square, Reading RG30 1DT	-	-	2	Flat
£255K	07/25	0.76 mi	1, Grantley Heights, Kennet Side, Reading RG1 3EG	-	-	2	Flat
£330K	01/23	0.77 mi	86, Elliots Way, Caversham, Reading RG4 8BF	£5,593	59	2	Flat
£295K	02/23	0.77 mi	74, Elliots Way, Caversham, Reading RG4 8BF	£5,673	52	2	Flat
£300K	02/25	0.77 mi	6, Artillery Mews, Reading RG30 2JN	£5,085	59	2	Flat
£247.8K	11/21	0.78 mi	Flat 7, Greys Court, Sidmouth Street, Reading RG1 4PP	-	-	2	Flat
£299K	12/24	0.78 mi	23, Abbotsmead Place, Caversham, Reading RG4 8BB	£4,463	67	2	Flat
£307.5K	03/25	0.78 mi	31, Abbotsmead Place, Caversham, Reading RG4 8BB	£4,659	66	2	Flat

Local Rents

49 rents from £1.4K/mo to £2.1K/mo, average is £1.7K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,400	08/25	0 mi	Mayer House, Chatham Place, Reading, Berkshire, RG1	2	Flat
£1,500	11/25	0 mi	Chatham Place, Reading, Berkshire, RG1	2	Flat
£1,500	06/25	0 mi	Chatham Place, Reading, Berkshire, RG1	2	Flat
£1,600	11/25	0.01 mi	-	2	Flat
£1,450	09/25	0.01 mi	Halcyon, Chatham Place, Reading, RG1	2	Flat
£1,550	08/25	0.02 mi	Hayward, Chatham Place, Reading, RG1	2	Flat
£1,675	11/24	0.02 mi	-	2	Flat
£1,700	09/24	0.02 mi	Halcyon, Chatham Place, Reading, RG1	2	Flat
£1,550	08/25	0.03 mi	Halcyon, Chatham Place, Reading, RG1	2	Flat
£1,550	11/25	0.03 mi	Hayward, Chatham Place, Reading, RG1	2	Flat
£1,650	07/24	0.03 mi	Halcyon, Chatham Place, Reading, RG1	2	Flat
£2,100	08/25	0.03 mi	Halcyon, Chatham Place, Reading, Berkshire, RG1	2	Flat
£1,750	07/24	0.03 mi	Hewitt, 40 Alfred Street, Reading, Berkshire, RG1	2	Flat
£1,700	11/25	0.03 mi	Halcyon, Chatham Place, Reading, RG1	2	Flat
£1,750	05/25	0.04 mi	Hayward, Chatham Place, Reading, RG1	2	Flat
£1,700	07/24	0.04 mi	Hayward, Chatham Place, Reading, RG1	2	Flat
£2,000	09/24	0.04 mi	-	2	Flat
£2,000	07/24	0.04 mi	-	2	Flat
£2,000	10/24	0.04 mi	-	2	Flat
£1,995	03/25	0.04 mi	-	2	Flat
£2,000	07/24	0.04 mi	Hunsaker, Reading, RG1	2	Flat
£1,600	07/24	0.04 mi	Chatham Place, Hayward, Chatham Place, Reading, Berkshire, RG1 7AZ	2	Flat
£1,600	10/25	0.04 mi	Hermitage, Reading, RG1	2	Flat
£1,650	11/25	0.04 mi	-	2	Flat
£1,750	08/25	0.04 mi	Hayward, Chatham Place, Reading, Berkshire, RG1	2	Flat
£1,550	11/25	0.04 mi	Hayward, Chatham Place, Reading, RG1	2	Flat
£1,700	07/25	0.04 mi	Hewitt, 40 Alfred Street, Reading, RG1	2	Flat
£1,700	06/25	0.04 mi	Hewitt, 40 Alfred Street, Reading, RG1	2	Flat
£1,700	10/25	0.04 mi	Hewitt, 40 Alfred Street, Reading, RG1	2	Flat
£1,600	11/25	0.04 mi	Honister, Alfred Street, Reading, RG1	2	Flat
£1,500	06/25	0.05 mi	Phoenix House, Oxford Road, Reading, Berkshire	2	Flat
£1,695	08/24	0.05 mi	Hunsaker, Alfred Street, Reading, RG1	2	Flat
£1,600	07/24	0.05 mi	Hermitage, Chatham Street	2	Flat
£1,650	06/25	0.05 mi	Hermitage, Chatham Street, Reading, RG1	2	Flat
£1,650	07/24	0.05 mi	Hunsaker, Alfred Street	2	Flat
£1,750	07/25	0.05 mi	Honister, 20 Alfred Street, Reading, Berkshire, RG1	2	Flat
£1,750	09/24	0.05 mi	Alfred Street, Reading, RG1	2	Flat
£1,750	07/24	0.05 mi	Honister, 20 Alfred Street, Reading, RG1	2	Flat
£1,700	08/24	0.05 mi	Honister, 20 Alfred Street, Reading, RG1	2	Flat
£1,650	05/25	0.05 mi	Honister, 20 Alfred Street, Reading, RG1	2	Flat
£1,795	08/25	0.05 mi	Honister, 20 Alfred Street, Reading, RG1	2	Flat
£1,650	08/25	0.05 mi	Hermitage, Chatham Street, Reading, RG1	2	Flat
£1,725	04/25	0.05 mi	-	2	Flat
£1,725	07/25	0.05 mi	-	2	Flat
£1,600	08/24	0.05 mi	Hunsaker, Alfred Street, Reading, RG1	2	Flat
£1,500	11/25	0.05 mi	Hermitage, Chatham Street, Reading, RG1	2	Flat
£1,700	07/24	0.06 mi	Chatham Street, Hermitage, RG1	2	Flat
£1,750	05/25	0.06 mi	Alfred Street, Chatham Place, RG1	2	Flat
£1,700	07/25	0.06 mi	Alfred Street, Reading, RG1	2	Flat

Local Area Statistics

Population in RG1	43,08543,085
Population in Reading	321,187321,187
Town centre distance	0.36 miles away0.36 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.41 miles away0.41 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+5%+5%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+9%+9%

Property History

Listed for £250,000

November 27, 2024

Floor Plans

Description

Modern Second Floor Apartment +
Large Open Plan Living Room And Kitchen +
Close To Front The Town Centre +
Ideal First time Or Investment Purchase +
Residents Lift +
No Onward Chain +
Easy Access To Reading Mainline Train Station +
Secure Telecom Entry System +

NO ONWARD CHAIN COMPLICATIONS

Set on the outskirts of Reading town centre, this larger than average second floor apartment is set within the popular Chatham Place development.

Ideal for first time buyers and investment buyers alike, the accommodation comprises an entrance hall with storage, two double bedrooms, a modern three-piece bathroom suite and a large, dual aspect, living room/kitchen which is a great entertaining space.

A stone’s throw from The Oracle shopping complex and the mainline railway station, the property is perfect for anyone looking to commute into the city or for anyone who enjoys eating out and a vibrant night life.

The building itself is accessed via secure telecom entry system and there is also a resident's lift, whereas the communal grounds are very well kept by the management company.

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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CashflowsOpen in Analyser

Local Sold PricesDownload Show map

Local RentsDownload Show map

Links

Local Area Statistics

Property History

Floor Plans

Description

Agent Details

Next Steps?

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Cashflows

Local Sold Prices

Local Rents