2 Bed Flat, Single Let, Reading, RG2 0GQ, £235,000

Lundy House, Drake Way, Reading, RG2 0GQ - 1 views - 3 months ago

Leasehold
BTL
ROI: 4%
~61 m²
+1 photos

ValuationOvervalued

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

 

 

Square Metres

~61.04 m²
Price/m²£3.9K/m²

Value Estimate

£215,980

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£58,750

Stamp Duty & Legal Fees

£15,150

Total Cash In

£73,900

 

 

Cash Out

 

Rent Range

£1,200 - £3,989

Rent Estimate

£1,250

Running Costs/mo

£1,004

Cashflow/mo

£246

Cashflow/yr

£2,948

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
£210K02/210.92 mi16, Burdett Court, Reading RG2 7HY2
£205K02/230.92 mi14, Burdett Court, Reading RG2 7HY2
£285K01/210.93 mi3, The Brookmill, Reading RG1 6DD2
£100K06/210.95 mi90, Windermere Road, Reading RG2 7HR2
£155K06/210.97 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
£290K12/221.06 miFlat 36, Milward Court, Warwick Road, Reading RG2 7BG2
£97.5K11/221.08 miFlat 16, Southglade, Whitley Wood Road, Reading RG2 8JS2
£170K01/231.12 miFlat 48, Lynden Mews, Dale Road, Reading RG2 0AT2
£261.5K02/231.12 mi1, Westerham Walk, Reading RG2 0BA2
£189.9K05/211.16 miFlat 6, Radnor House, Rembrandt Way, Reading RG1 6QP2
£225K04/211.16 miFlat 9, Charnwood House, Rembrandt Way, Reading RG1 6QR2
£168K06/211.16 miFlat 1, Radnor House, Rembrandt Way, Reading RG1 6QP2
£208K03/211.23 mi4, St Pauls Court, Reading RG1 6HF2
£240K09/211.26 mi10, Southern Hill, Reading RG1 5ES2
£255K11/201.26 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
£210K12/221.36 mi38, Emmbrook Court, Reading RG6 5TZ2
£195K12/221.36 mi14, Emmbrook Court, Reading RG6 5TZ2
£220K08/211.36 mi19, Emmbrook Court, Reading RG6 5TZ2
£215K06/231.38 miFirst Floor Flat, 14, Cirrus Drive, Shinfield, Reading, Wokingham RG2 9FL2
£230K12/221.38 miGround Floor Flat, 5, Cirrus Drive, Shinfield, Reading, Wokingham RG2 9FL2
£212.5K04/211.38 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
£252.5K06/211.41 mi1a, Flaxman Close, Earley, Reading, Wokingham RG6 5TH2
£242K07/231.41 mi14a, Flaxman Close, Earley, Reading, Wokingham RG6 5TH2
£228K06/231.41 mi19, Aphelion Way, Shinfield, Reading, Wokingham RG2 9FR2
£305K12/221.41 mi6, Flaxman Close, Earley, Reading, Wokingham RG6 5TH2
£188K07/231.43 miFlat 6, Nelson Mews, St Giles Close, Reading RG1 2SF2
£220K09/211.44 mi44, Perigee, Shinfield, Reading, Wokingham RG2 9FT2
£300K06/211.44 miFlat 10, Simmonds Malthouse, Fobney Street, Reading RG1 6BS2
£191K09/211.45 mi5, Langdale Gardens, Earley, Reading, Wokingham RG6 5TU2
£150K09/221.45 mi27, Langdale Gardens, Earley, Reading, Wokingham RG6 5TU2
£217.5K12/201.46 mi3, Greenwich Road, Shinfield, Reading, Wokingham RG2 9FJ2
£240K07/211.47 mi11, Deansgate Road, Reading RG1 2RZ2
£200K03/211.47 mi26, Rossby, Shinfield, Reading, Wokingham RG2 9FS2
£219K09/211.47 mi6, Rossby, Shinfield, Reading, Wokingham RG2 9FS2
£227.5K06/211.47 mi4, Rossby, Shinfield, Reading, Wokingham RG2 9FS2
£101.4K02/231.48 mi23, Talbot Court, Reading RG1 6QH2
£265K09/211.49 mi34, Swan Place, Reading RG1 6QD2
£229K01/211.53 mi29 Compass House, South Street, Reading RG1 4GQ2
£247.8K11/211.58 miFlat 7, Greys Court, Sidmouth Street, Reading RG1 4PP2
£238K07/211.66 mi20, Ashdene Gardens, Reading RG30 2EP2
£260K02/231.66 mi7, Ashdene Gardens, Reading RG30 2EP2

Local Rents

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

RentDateDistanceAddressBeds 
£1,45004/250.03 mi-2
£1,35008/240.03 miDrake Way, Reading, Berkshire, RG22
£1,40010/240.04 mi-2
£1,50008/240.04 miCygnet House, Drake Way, RG22
£1,25007/240.04 miTean House, Kennet Island2
£1,25007/240.04 miTean House, Havergate Way2
£1,40007/240.04 miTean House, Kennet Island.2
£1,50009/240.04 miHavergate Way, Reading2
£1,35008/240.04 miTean House, Kennet Island2
£1,35009/240.04 miTean House, Kennet Island2
£1,45010/230.04 miThorney House, Drake Way, Reading, Berkshire, RG22
£1,30008/240.04 miHavergate Way, Reading, RG22
£1,45004/250.04 mi-2
£1,40007/240.04 mi-2
£1,40007/240.04 miHavergate Way, Reading, RG22
£1,45007/240.05 miThorney House, Drake Way, Reading, Berkshire, RG22
£3,98910/240.05 mi-2
£3,59912/240.05 mi-2
£1,25003/250.05 mi-2
£1,65009/240.05 miLindisfarne Way, Reading, RG22
£1,45007/240.05 miDrake Way, Reading2
£1,30012/240.05 mi-2
£1,45007/240.06 miCygnet House, Drake Way, Reading, RG22
£1,40007/240.06 miMerrick House, Kennet Island2
£1,20007/240.06 miKennet Island, Reading2
£1,60003/250.07 mi-2
£1,45007/240.07 miWhale Avenue, Reading, Berkshire, RG22
£1,35002/240.07 mi-2
£1,50009/240.08 miHavergate Way, Kennet Island2
£1,52507/240.08 miCygnet House, Drake Way, Reading, RG22
£1,55007/240.09 miHeron House, Kennet Island2
£1,60009/240.09 miKennett Island, Reading2
£1,40007/240.09 miHeron House, Rushley Way, Reading, Berkshire, RG22
£1,42504/250.09 mi-2
£1,55007/240.1 miGweal Avenue, Reading, Berkshire, RG22
£1,55007/240.1 miHeron House, Rushley Way, Reading, Berkshire, RG22
£1,85002/240.1 mi-2
£1,95009/240.1 mi-2
£1,95001/250.1 mi-2
£1,90004/250.1 mi-2
£1,50008/240.1 miRushley Way, Reading, Berkshire, RG22
£1,65007/240.1 miDrake Way, Reading, RG22
£1,45008/240.11 miCygnet House, Drake Way, Reading, RG22
£1,65008/240.11 miHavergate Way, Kennet Island, RG22
£1,60009/240.11 mi-2
£1,50010/240.11 mi-2
£1,50010/240.11 mi-2
£1,70002/240.11 mi-2
£1,60009/240.11 miCygnet House, Kennet Island2

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

1.10 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+4%

Sales demand

Balanced market

Capital growth (5yrs)

-3%

Property History

Listed for £235,000

February 4, 2025

Floor Plans

Description

  • Two Double Bedrooms +
  • Three Piece Family Bathroom +
  • Lounge/Diner with Balcony +
  • No Onward Chain Complications +
  • Top Floor Position +
  • Allocated Parking +

Lansley - Offered to the market with no onward chain complications is this, in our opinion, very well presented top floor apartment. Located on the sought after Kennet Island development the properties internal accommodation comprises two double bedrooms, three piece family bathroom, lounge/diner with access to a balcony and kitchen with gas hob whilst externally the property benefits from allocated parking. Kennet Island is conveniently located close to regular bus routes, supermarkets, commuter links via J11 of the M4 and Green Park business park making this an excellent first time or investment purchase with the opportunity to really make it your own.

Agent Details

AH Lansley Residential, Reading

0118 230 2652

Next Steps?

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