2 Bed Flat, Single Let, Reading, RG4 8BB, £265,000

7 Prospect Street, Caversham, Reading, RG4 8JB - 2 views - 3 months ago

Sold STC

Leasehold

BTL

ROI: 3%

34 m²

+6 photos

ValuationOvervalued

Sold Prices	£180K - £585K
Sold Prices/m²	£2.6K/m² - £5.7K/m²

Square Metres	34 m²
Price/m²	£7.8K/m²
Value Estimate	£149,357£149,357

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£66,250£66,250
Stamp Duty & Legal Fees	£9,900£9,900
Total Cash In	£76,150£76,150

Cash Out
Rent Range	£1,250 - £3,280£1,250 - £3,280
Rent Estimate	£1,300
Running Costs/mo	£1,108£1,108
Cashflow/mo	£192£192
Cashflow/yr	£2,303£2,303
ROI	3%3%
Gross Yield	6%6%

Local Sold Prices

49 sold prices from £180K to £585K, average is £257.5K. £2.6K/m² to £5.7K/m², average is £4.4K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£395K	10/20	0.01 mi	37, Abbotsmead Place, Caversham, Reading RG4 8BB	£4,389	90	2	Flat
£269K	06/21	0.01 mi	4, Abbotsmead Place, Caversham, Reading RG4 8BB	£4,419	61	2	Flat
£277K	03/21	0.01 mi	2, Abbotsmead Place, Caversham, Reading RG4 8BB	£4,397	63	2	Flat
£295K	03/21	0.01 mi	20, Abbotsmead Place, Caversham, Reading RG4 8BB	-	-	2	Flat
£330K	04/23	0.01 mi	45, Abbotsmead Place, Caversham, Reading RG4 8BB	-	-	2	Flat
£350K	10/22	0.01 mi	57, Abbotsmead Place, Caversham, Reading RG4 8BB	£4,375	80	2	Flat
£340K	02/23	0.02 mi	11, Abbotsmead Place, Caversham, Reading RG4 8BB	-	-	2	Flat
£335K	12/22	0.08 mi	9, Abbotsmead Place, Caversham, Reading RG4 8BB	-	-	2	Flat
£257.5K	05/21	0.24 mi	Flat 26, Caversham Place, Richfield Avenue, Reading RG1 8BY	-	-	2	Flat
£330K	01/23	0.24 mi	86, Elliots Way, Caversham, Reading RG4 8BF	£5,593	59	2	Flat
£295K	02/23	0.25 mi	74, Elliots Way, Caversham, Reading RG4 8BF	£5,673	52	2	Flat
£300K	04/21	0.27 mi	Flat 18, Regents Riverside, Brigham Road, Reading RG1 8QS	-	-	2	Flat
£363K	06/23	0.27 mi	Flat 57, Regents Riverside, Brigham Road, Reading RG1 8QS	-	-	2	Flat
£262.5K	09/21	0.27 mi	91, Elliots Way, Caversham, Reading RG4 8BW	£5,250	50	2	Flat
£265K	03/21	0.27 mi	71, Elliots Way, Caversham, Reading RG4 8BW	£5,528	48	2	Flat
£490K	05/21	0.31 mi	Flat 5, Treetops, The Mount, Caversham, Reading RG4 7RE	-	-	2	Flat
£485K	06/21	0.31 mi	Flat 10, Treetops, The Mount, Caversham, Reading RG4 7RE	-	-	2	Flat
£585K	03/23	0.31 mi	Flat 9, Treetops, The Mount, Caversham, Reading RG4 7RE	-	-	2	Flat
£250K	10/22	0.31 mi	94, Gosbrook Road, Caversham, Reading RG4 8BJ	-	-	2	Flat
£230K	05/21	0.36 mi	168, Gosbrook Road, Caversham, Reading RG4 8BJ	£3,538	65	2	Flat
£243.5K	12/20	0.38 mi	Flat 4, Warren House Court, St Peters Avenue, Caversham, Reading RG4 7RG	-	-	2	Flat
£227.5K	09/21	0.38 mi	2, Waller Court, Caversham, Reading RG4 6DB	£5,417	42	2	Flat
£260K	02/21	0.38 mi	28, Waller Court, Caversham, Reading RG4 6DB	£4,017	65	2	Flat
£230K	03/21	0.38 mi	14, Waller Court, Caversham, Reading RG4 6DB	£4,107	56	2	Flat
£265K	10/22	0.42 mi	140, Gosbrook Road, Caversham, Reading RG4 8BJ	£5,000	53	2	Flat
£198K	12/20	0.44 mi	59b, Cardiff Road, Reading RG1 8ET	£3,143	63	2	Flat
£250K	06/21	0.46 mi	Flat 5, Beech Court, Balmore Park, Caversham, Reading RG4 8PY	-	-	2	Flat
£265K	05/21	0.46 mi	Flat 3, Larch Court, Balmore Park, Caversham, Reading RG4 8PY	-	-	2	Flat
£234K	10/20	0.53 mi	Flat 16, Jeffrey Place, Caversham Road, Reading RG1 7AY	-	-	2	Flat
£229.9K	01/21	0.58 mi	187, Hemdean Road, Caversham, Reading RG4 7QX	£4,693	49	2	Flat
£255K	03/21	0.6 mi	35, Field View, Caversham, Reading RG4 5HD	£4,554	56	2	Flat
£180K	06/23	0.65 mi	Flat 19, Icon House, Merchants Place, Reading RG1 1EQ	-	-	2	Flat
£250K	02/21	0.65 mi	Flat 21, Projection West, Merchants Place, Reading RG1 1ET	-	-	2	Flat
£215K	04/23	0.71 mi	23, Stratheden Place, Reading RG1 7BH	£3,839	56	2	Flat
£250K	12/20	0.77 mi	63, Sheridan Avenue, Caversham, Reading RG4 7QB	£5,112	49	2	Flat
£367.5K	02/21	0.77 mi	6, George Close, Caversham, Reading RG4 5EW	£5,034	73	2	Flat
£215K	10/21	0.85 mi	29, Bedford Road, Reading RG1 7EU	£3,468	62	2	Flat
£240K	06/21	0.89 mi	6, Luscombe Close, Caversham, Reading RG4 5LG	£3,957	61	2	Flat
£245K	03/21	0.89 mi	24, Luscombe Close, Caversham, Reading RG4 5LG	£2,606	94	2	Flat
£255K	12/20	0.89 mi	10, Luscombe Close, Caversham, Reading RG4 5LG	£3,355	76	2	Flat
£187.2K	03/21	0.89 mi	23, Luscombe Close, Caversham, Reading RG4 5LG	£2,925	64	2	Flat
£286K	03/23	0.89 mi	8, Luscombe Close, Caversham, Reading RG4 5LG	£4,469	64	2	Flat
£200K	06/21	0.9 mi	72, Amersham Road, Caversham, Reading RG4 5NA	£3,333	60	2	Flat
£245K	02/21	0.9 mi	84, Amersham Road, Caversham, Reading RG4 5NA	£4,138	59	2	Flat
£270.9K	10/22	0.94 mi	100a, Meadow Way, Caversham, Reading RG4 5LY	£4,516	60	2	Flat
£230K	09/21	0.94 mi	124, Meadow Way, Caversham, Reading RG4 5LY	£3,770	61	2	Flat
£220K	06/21	0.94 mi	34, Meadow Way, Caversham, Reading RG4 5LY	£3,860	57	2	Flat
£185K	12/20	0.96 mi	1, Alston Walk, Caversham, Reading RG4 5DD	£3,837	48	2	Flat
£395K	01/21	0.99 mi	Flat 6, Avenue House, Upper Warren Avenue, Caversham, Reading RG4 7EF	-	-	2	Flat

Local Rents

49 rents from £1.3K/mo to £3.3K/mo, average is £1.6K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,375	07/24	0.01 mi	Abbotsmead Place, Wolsey Road, Caversham, Reading, RG4	2	Flat
£1,375	12/24	0.01 mi	-	2	Flat
£1,450	07/24	0.02 mi	Abbotsmead Place	2	Flat
£1,250	07/24	0.06 mi	St. Martins Precinct, Church Street, Caversham, Reading, RG4	2	Flat
£1,750	12/24	0.06 mi	Riverside Court, Caversham, Reading	2	Flat
£1,695	07/24	0.07 mi	Riverside Court, Caversham	2	Flat
£1,300	02/24	0.11 mi	-	2	Flat
£1,700	01/24	0.13 mi	-	2	Terraced House
£1,750	07/24	0.16 mi	Caversham, Reading	2	Flat
£1,400	07/24	0.19 mi	2 Auburn Court	2	Flat
£1,550	04/25	0.19 mi	-	2	Terraced House
£1,750	12/24	0.19 mi	North Street, Caversham	2	Terraced House
£1,300	07/24	0.21 mi	Caversham Road, Reading	2	Flat
£1,350	07/24	0.21 mi	Caversham Road, Reading	2	Flat
£1,400	07/24	0.21 mi	-	2	Flat
£1,275	07/24	0.22 mi	Randolph Road	2	Detached House
£1,350	09/24	0.22 mi	Randolph Road	2	Semi-Detached House
£2,150	12/24	0.23 mi	Treetops, The Mount, Reading	2	Flat
£1,650	12/24	0.24 mi	-	2	Terraced House
£1,350	12/24	0.24 mi	-	2	Flat
£1,795	07/24	0.26 mi	Regents Riverside, Brigham Road, Reading, Berkshire, RG1	2	Flat
£2,000	02/24	0.27 mi	-	2	Flat
£3,280	10/24	0.27 mi	-	2	Flat
£1,695	07/24	0.27 mi	Regents Riverside	2	Flat
£3,280	07/24	0.27 mi	Regents Riverside, Reading, Berkshire	2	Flat
£1,600	07/24	0.27 mi	De Montfort Road, Reading	2	Flat
£1,600	08/24	0.27 mi	Regents Riverside, Brigham Road, Reading, Berkshire, RG1	2	Flat
£1,700	07/24	0.27 mi	Regents Riverside, Brigham Road, Reading, RG1	2	Flat
£1,650	07/24	0.27 mi	Regents Riverside, Brigham Road, Reading, RG1	2	Flat
£1,395	08/24	0.27 mi	Denbeigh Place	2	Semi-Detached House
£1,500	12/24	0.28 mi	Tamesis Place, Patrick Road, Caversham	2	Flat
£1,350	08/24	0.29 mi	Swansea Road, Reading, RG1	2	Terraced House
£1,350	09/24	0.29 mi	-	2	Terraced House
£1,650	07/24	0.3 mi	Patrick Road, Caversham, Reading	2	Flat
£2,200	12/24	0.3 mi	Treetops, The Mount, Caversham, Reading, Berkshire, RG4	2	Flat
£2,200	12/24	0.3 mi	Treetops, Caversham, Reading	2	Flat
£1,650	07/24	0.31 mi	Tamesis Place	2	Flat
£1,900	07/24	0.31 mi	-	2	Flat
£1,650	07/24	0.33 mi	Regents Riverside, Brigham Road, Reading	2	Flat
£1,350	09/24	0.33 mi	Lynmouth Court, Lynmouth Road	2	Flat
£1,295	02/25	0.34 mi	-	2	Flat
£1,450	04/25	0.34 mi	-	2	Flat
£1,600	08/24	0.35 mi	Swansea Road, Reading, RG1	2	Terraced House
£1,580	10/24	0.35 mi	-	2	Terraced House
£1,525	10/24	0.37 mi	-	2	Terraced House
£1,525	11/24	0.38 mi	-	2	Terraced House
£1,550	04/25	0.39 mi	-	2	Terraced House
£1,350	07/24	0.4 mi	South View Avenue, Caversham	2	Flat
£1,500	08/24	0.4 mi	Swansea Road, Reading	2	Terraced House

Local Area Statistics

Population in RG4	39,16039,160
Population in Reading	321,187321,187
Town centre distance	0.98 miles away0.98 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.55 miles away0.55 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+35%+35%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+13%+13%

Property History

Listed for £265,000

January 29, 2025

Floor Plans

Description

Two double bedrooms +
Separate Kitchen +
First floor modern apartment +
Off road parking +
Good sized living room with Juliet balcony +
Walking distance of Reading Station +
Easy reach of central Caversham and Waitrose supermarket +
Easy access to the River Thames +
Council tax band D +
EPC rating C +

IDEAL FIRST TIME BUY OR RENTAL INVERSTMENT: Located in the heart of Caversham with the picturesque Thames walks and popular shops and cafes on your door step is this light and airy apartment. The property boasts two double bedrooms, good sized living room with a 'Juliet' style balcony, bathroom and a separate kitchen. The property has wood flooring in the living room and an allocated parking space. To appreciate the space on offer call now to view.

Communal Entrance - A secure communal entrance with stairs to the first floor.

Hallway - A welcoming entrance hall with laminate flooring and doors leading to the bedrooms, bathroom and living room.

Bedroom One - A spacious, double bedroom with built in wardrobe, carpet and window to the side of the property.

Bedroom Two - A comfortable double bedroom with built in wardrobe, carpet and window to the side of the property.

Living Room - Very spacious living room with laminate flooring and window to the side of the property along with large windows and Juliet balcony overlooking the rear of the property

Kitchen - A good sized kitchen with built in oven, gas hob and extractor, space for washing machine and fridge freezer. The kitchen also houses the boiler and has a nice sized window overlooking the rear of the property.

Bathroom - Bathroom with tiled floor, frosted window to the side of the property, sink with storage, WC and bath with shower.

View From The Appartment -

Tenure - Lease: 125 years from 1997
Service charge: £2028 PA
Ground rent: £100 PA rising every 25 years capped at £250 PA.

Services - Water. Mains
Drainage. Mains
Electricity. Mains
Heating. Gas

Mobile phone. The vendor is not aware of any specific restricted mobile phone coverage

Broadband. Superfast, obtained from Ofcom

Agent Details

Nicholas Estate Agents, Caversham

0118 230 1760

Next Steps?

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

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