2 Bed Flat, Single Let, Reading, RG2 0GQ, £240,000

Drake Way, Reading, Berkshire, RG2 0GQ - 2 views - 3 months ago

Leasehold
BTL
ROI: 4%
~58 m²
+12 photos

ValuationOvervalued

Sold Prices£97.5K - £305K
Sold Prices/m²£1.9K/m² - £5.4K/m²

 

 

Square Metres

~58.16 m²
Price/m²£4.1K/m²

Value Estimate

£205,789

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£60,000

Stamp Duty & Legal Fees

£15,500

Total Cash In

£75,500

 

 

Cash Out

 

Rent Range

£1,200 - £3,989

Rent Estimate

£1,250

Running Costs/mo

£1,020

Cashflow/mo

£230

Cashflow/yr

£2,760

ROI

4%

Gross Yield

6%

Local Sold Prices

50 sold prices from £97.5K to £305K, average is £219.5K. £1.9K/m² to £5.4K/m², average is £3.5K/m².

PriceDateDistanceAddressBeds 
£250K03/230.01 miFlat 10, Lundy House, Drake Way, Reading RG2 0GQ2
£172.5K07/210.05 miFlat 48, Thorney House, Drake Way, Reading RG2 0GZ2
£210K02/210.93 mi16, Burdett Court, Reading RG2 7HY2
£205K02/230.93 mi14, Burdett Court, Reading RG2 7HY2
£285K01/210.93 mi3, The Brookmill, Reading RG1 6DD2
£100K06/210.96 mi90, Windermere Road, Reading RG2 7HR2
£155K06/210.98 mi48, Windermere Road, Reading RG2 7HP2
£200K11/201.03 miTop Floor Flat, 183a, Elgar Road, Reading RG2 0DH2
£195K03/231.03 mi104, Tippett Rise, Reading RG2 0DZ2
£220K06/211.05 mi47, Tippett Rise, Reading RG2 0DJ2
£290K12/221.07 miFlat 36, Milward Court, Warwick Road, Reading RG2 7BG2
£97.5K11/221.09 miFlat 16, Southglade, Whitley Wood Road, Reading RG2 8JS2
£170K01/231.12 miFlat 48, Lynden Mews, Dale Road, Reading RG2 0AT2
£261.5K02/231.13 mi1, Westerham Walk, Reading RG2 0BA2
£225K04/211.15 miFlat 9, Charnwood House, Rembrandt Way, Reading RG1 6QR2
£189.9K05/211.15 miFlat 6, Radnor House, Rembrandt Way, Reading RG1 6QP2
£168K06/211.15 miFlat 1, Radnor House, Rembrandt Way, Reading RG1 6QP2
£208K03/211.23 mi4, St Pauls Court, Reading RG1 6HF2
£240K09/211.27 mi10, Southern Hill, Reading RG1 5ES2
£255K11/201.27 mi32, Southern Hill, Reading RG1 5ES2
£230K09/211.3 miFlat 2, Sovereign Court, Mount Pleasant Grove, Reading RG1 2TS2
£145K11/201.33 mi4, Katesgrove Lane, Reading RG1 2ND2
£210K12/221.37 mi38, Emmbrook Court, Reading RG6 5TZ2
£195K12/221.37 mi14, Emmbrook Court, Reading RG6 5TZ2
£220K08/211.37 mi19, Emmbrook Court, Reading RG6 5TZ2
£215K06/231.39 miFirst Floor Flat, 14, Cirrus Drive, Shinfield, Reading, Wokingham RG2 9FL2
£230K12/221.39 miGround Floor Flat, 5, Cirrus Drive, Shinfield, Reading, Wokingham RG2 9FL2
£212.5K04/211.39 miSecond Floor Flat, 20, Cirrus Drive, Shinfield, Reading, Wokingham RG2 9FL2
£160K05/211.41 mi345a, Old Whitley Wood Lane, Reading, Wokingham RG2 8PY2
£220K12/221.41 mi345a, Old Whitley Wood Lane, Reading, Wokingham RG2 8PY2
£252.5K06/211.42 mi1a, Flaxman Close, Earley, Reading, Wokingham RG6 5TH2
£242K07/231.42 mi14a, Flaxman Close, Earley, Reading, Wokingham RG6 5TH2
£228K06/231.42 mi19, Aphelion Way, Shinfield, Reading, Wokingham RG2 9FR2
£305K12/221.42 mi6, Flaxman Close, Earley, Reading, Wokingham RG6 5TH2
£188K07/231.43 miFlat 6, Nelson Mews, St Giles Close, Reading RG1 2SF2
£300K06/211.44 miFlat 10, Simmonds Malthouse, Fobney Street, Reading RG1 6BS2
£220K09/211.44 mi44, Perigee, Shinfield, Reading, Wokingham RG2 9FT2
£191K09/211.46 mi5, Langdale Gardens, Earley, Reading, Wokingham RG6 5TU2
£150K09/221.46 mi27, Langdale Gardens, Earley, Reading, Wokingham RG6 5TU2
£240K07/211.47 mi11, Deansgate Road, Reading RG1 2RZ2
£217.5K12/201.47 mi3, Greenwich Road, Shinfield, Reading, Wokingham RG2 9FJ2
£101.4K02/231.48 mi23, Talbot Court, Reading RG1 6QH2
£200K03/211.48 mi26, Rossby, Shinfield, Reading, Wokingham RG2 9FS2
£219K09/211.48 mi6, Rossby, Shinfield, Reading, Wokingham RG2 9FS2
£227.5K06/211.48 mi4, Rossby, Shinfield, Reading, Wokingham RG2 9FS2
£265K09/211.49 mi34, Swan Place, Reading RG1 6QD2
£229K01/211.53 mi29 Compass House, South Street, Reading RG1 4GQ2
£247.8K11/211.59 miFlat 7, Greys Court, Sidmouth Street, Reading RG1 4PP2
£238K07/211.65 mi20, Ashdene Gardens, Reading RG30 2EP2
£260K02/231.65 mi7, Ashdene Gardens, Reading RG30 2EP2

Local Rents

49 rents from £1.2K/mo to £4K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,35008/240.03 miDrake Way, Reading, Berkshire, RG22
£1,40010/240.04 mi-2
£1,45002/250.04 mi-2
£1,50008/240.04 miCygnet House, Drake Way, RG22
£1,45010/230.04 miThorney House, Drake Way, Reading, Berkshire, RG22
£1,45007/240.04 miDrake Way, Reading2
£1,30012/240.05 mi-2
£1,45007/240.05 miThorney House, Drake Way, Reading, Berkshire, RG22
£1,65009/240.05 miLindisfarne Way, Reading, RG22
£1,25007/240.05 miTean House, Kennet Island2
£1,25007/240.05 miTean House, Havergate Way2
£1,40007/240.05 miTean House, Kennet Island.2
£1,50009/240.05 miHavergate Way, Reading2
£1,35008/240.05 miTean House, Kennet Island2
£1,35009/240.05 miTean House, Kennet Island2
£1,30008/240.06 miHavergate Way, Reading, RG22
£1,45004/250.06 mi-2
£1,40007/240.06 mi-2
£1,40007/240.06 miHavergate Way, Reading, RG22
£1,45007/240.06 miCygnet House, Drake Way, Reading, RG22
£3,98910/240.06 mi-2
£3,59912/240.06 mi-2
£1,25003/250.06 mi-2
£1,40007/240.07 miMerrick House, Kennet Island2
£1,20007/240.07 miKennet Island, Reading2
£1,60003/250.07 mi-2
£1,45007/240.08 miWhale Avenue, Reading, Berkshire, RG22
£1,35002/240.08 mi-2
£1,52507/240.09 miCygnet House, Drake Way, Reading, RG22
£1,50009/240.09 miHavergate Way, Kennet Island2
£1,55007/240.1 miHeron House, Kennet Island2
£1,60009/240.1 miKennett Island, Reading2
£1,40007/240.1 miHeron House, Rushley Way, Reading, Berkshire, RG22
£1,55007/240.1 miGweal Avenue, Reading, Berkshire, RG22
£1,42504/250.1 mi-2
£1,65007/240.1 miDrake Way, Reading, RG22
£1,55007/240.1 miHeron House, Rushley Way, Reading, Berkshire, RG22
£1,45008/240.11 miCygnet House, Drake Way, Reading, RG22
£1,70002/240.11 mi-2
£1,85002/240.11 mi-2
£1,95009/240.11 mi-2
£1,95001/250.11 mi-2
£1,90004/250.11 mi-2
£1,60009/240.11 miCygnet House, Kennet Island2
£1,50008/240.11 miRushley Way, Reading, Berkshire, RG22
£1,65008/240.12 miHavergate Way, Kennet Island, RG22
£1,60009/240.12 mi-2
£1,50010/240.12 mi-2
£1,50010/240.12 mi-2

Local Area Statistics

Population in RG2

36,866

Population in Reading

321,187

Town centre distance

1.52 miles away

Nearest school

0.40 miles away

Nearest train station

1.09 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+4%

Sales demand

Balanced market

Capital growth (5yrs)

-3%

Property History

Price changed to £240,000

March 8, 2025

Listed for £250,000

January 27, 2025

Floor Plans

Description

  • No onward chain +
  • Two bedrooms +
  • Immaculate throughout +
  • Sought after location +
  • Allocated parking +

Nestled in a sought-after residential area, this charming two-bedroom apartment offers contemporary living at its finest. The property boasts a spacious reception room, ideal for entertaining guests, along with a fully-equipped kitchen and a sleek bathroom. The apartment also features a private balcony, perfect for enjoying your morning coffee or unwinding after a long day. Residents will benefit from the convenience of allocated parking within the development, ensuring a stress-free parking experience. With its prime location close to local amenities, transport links, and green spaces, this property presents an excellent opportunity for both first-time buyers and investors alike. Don't miss out on the chance to make this stylish apartment your own. Contact us today to arrange a viewing and secure your future home.

Agent Details

Romans, Reading

0118 230 5271

Next Steps?

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