2 Bed Semi-Detached House, Refurb/BRRR, Reading, RG30 2UD, £220,000

1 Connaught Road, Reading RG30 2UD - 6 views - 2 months ago

Auction
Refurb/BRRR
ROI: 3%
74 m²
+10 photos

ValuationFair Value

Sold Prices£125K - £335K
Sold Prices/m²£1.9K/m² - £6K/m²

 

 

Square Metres

74 m²
Price/m²£3K/m²

Value Estimate

£224,400

 

 

End Value (After Refurb)

£281,013

Uplift in Value

+28%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£55,000

Stamp Duty & Legal Fees

£7,800

Refurb Costs

£34,363

Bridging Loan Interest

£5,775

Total Cash In

£104,688

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£281,013

Mortgage (After Refinance)

£210,759

Mortgage LTV

75%

Cash Released

£45,759

Cash Left In

£58,929

Equity

£70,253

Rent Range

£600 - £2,995

Rent Estimate

£1,493

Running Costs/mo

£1,197

Cashflow/mo

£296

Cashflow/yr

£3,555

ROI

3%

Gross Yield

8%

Local Sold Prices

50 sold prices from £125K to £335K, average is £261.3K. £1.9K/m² to £6K/m², average is £3.8K/m².

PriceDateDistanceAddressBeds 
£270K09/210.04 mi29, Connaught Road, Reading RG30 2UD2
£272K02/210.05 mi64, Connaught Road, Reading RG30 2UP2
£260K04/230.05 mi24, Connaught Road, Reading RG30 2UP2
£315K04/210.06 mi66, Edinburgh Road, Reading RG30 2UB2
£260K10/210.06 mi33, Albany Road, Reading RG30 2UL2
£190.6K01/210.07 mi9, Edinburgh Road, Reading RG30 2UA2
£270K01/230.07 mi59, Albany Road, Reading RG30 2UL2
£255K06/210.1 mi62, Elm Park Road, Reading RG30 2TN2
£250K06/210.1 mi36, Elm Park Road, Reading RG30 2TN2
£235K02/210.1 mi56, Elm Park Road, Reading RG30 2TN2
£235K01/210.1 mi104, Curzon Street, Reading RG30 1DA2
£238K01/210.12 mi21, Belmont Road, Reading RG30 2UT2
£250K10/210.12 mi47, Belmont Road, Reading RG30 2UT2
£235K12/200.12 mi51, Belmont Road, Reading RG30 2UT2
£245K04/210.12 mi5, Elm Park Road, Reading RG30 2TP2
£300K02/210.12 mi21, Catherine Street, Reading RG30 1DN2
£285K10/200.13 mi58, Prince Of Wales Avenue, Reading RG30 2UH2
£310K06/230.13 mi71, Audley Street, Reading RG30 1BS2
£237K03/210.14 mi57, Cranbury Road, Reading RG30 2XE2
£250K12/200.17 mi40, Cranbury Road, Reading RG30 2XD2
£275K02/210.17 mi28, Cranbury Road, Reading RG30 2XD2
£260K11/210.18 mi41, Kensington Road, Reading RG30 2SZ2
£235K11/200.18 mi45, Kensington Road, Reading RG30 2SZ2
£290K09/210.2 mi34, Kensington Road, Reading RG30 2SY2
£250K12/200.2 mi18, Kensington Road, Reading RG30 2SY2
£285K04/210.21 mi149, Belmont Road, Reading RG30 2UY2
£309K03/230.22 mi112, Belmont Road, Reading RG30 2UX2
£300K05/210.23 mi10a, Brunswick Hill, Reading RG1 7YT2
£270K01/210.25 mi21, Cannon Street, Reading RG1 7PH2
£277.5K04/210.28 mi37, Wilton Road, Reading RG30 2SS2
£215K08/210.29 mi13, Little Street, Reading RG1 7PB2
£320K05/220.3 mi2, Argyle Road, Reading RG1 7YL2
£335K07/230.31 mi195, Cranbury Road, Reading RG30 2XA2
£280K04/230.32 mi18, Chester Street, Reading RG30 1LR2
£316K03/230.33 mi57, Norfolk Road, Reading RG30 2EG2
£125K06/210.33 miFlat 3, Mason Court, Mason Street, Reading RG1 7PP2
£285K03/210.34 mi15, Kent Road, Reading RG30 2EJ2
£292.5K02/230.35 mi74, Chester Street, Reading RG30 1LP2
£252K06/210.35 mi37, Chester Street, Reading RG30 1LL2
£252.5K06/210.37 mi63, Western Road, Reading RG1 6PD2
£246.5K03/210.37 mi55, Western Road, Reading RG1 6PD2
£262.5K02/210.37 mi69, Western Road, Reading RG1 6PD2
£267.5K11/200.37 mi2, Western Road, Reading RG1 6PD2
£320K08/230.37 mi3, Western Road, Reading RG1 6PD2
£328K03/230.37 mi27, Western Road, Reading RG1 6PD2
£252.5K01/210.39 mi88, Elm Park, Reading RG30 2HX2
£255K06/210.39 mi48, Elm Park, Reading RG30 2HX2
£243K04/230.39 mi9, Brunswick Street, Reading RG1 6NY2
£240K05/230.39 mi15, Brunswick Street, Reading RG1 6NY2
£280K05/210.39 mi83, Brunswick Street, Reading RG1 6NY2

Local Rents

50 rents from £600/mo to £3K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,40002/250 mi-2
£1,40012/240 mi-2
£1,30007/240.07 miAlbany Road, Reading, RG30 2UN2
£1,30007/240.07 miAlbany Road, Reading, Berkshire, RG302
£1,40007/240.08 miAlbany Road, Reading2
£1,35010/230.09 miCoopers Yard, 1a Elm Park Road, Reading, Berkshire, RG302
£1,50008/240.09 miOxford Road, Reading2
£1,40007/240.09 miElm Park Road, Reading, Berkshire, RG302
£1,10008/240.1 miElm Park Road, Reading, Berkshire, RG302
£1,40007/240.1 miElm Park Road, Reading2
£1,37504/250.1 mi-2
£1,49507/240.12 mi10 Bosworth House, Battle Square, Reading, RG302
£1,22507/240.12 miElm House, 12 Western Elms Avenue, Reading, Berkshire, RG302
£1,57508/240.13 miBelmont Road, Reading2
£1,50007/240.13 mi-2
£1,25008/240.13 miWestern Elms Avenue, Reading, Berkshire, RG302
£1,40007/240.14 miMoulsford Mews, Reading, RG302
£1,55007/240.14 miMoulsford Mews, Reading, RG302
£1,50007/240.14 miWestern Elms Avenue, Reading2
£1,30011/240.14 mi-2
£1,39508/240.15 miCranbury Road, Reading, RG302
£1,45007/240.16 miCranbury Road, Reading, Berkshire, RG302
£1,39508/240.16 miCranbury Road, Reading, RG302
£1,39509/240.16 mi-2
£1,40007/240.17 miCranbury Road, Reading, RG302
£1,20007/240.17 miOxford Road, Reading, RG302
£1,25007/240.18 miWestern Elms Avenue, Reading, Berkshire, RG302
£60004/250.19 mi-2
£1,30003/250.2 mi-2
£1,35007/240.21 miSalisbury Road, Reading, RG302
£1,35012/240.22 mi-2
£1,30004/250.22 mi-2
£1,45007/240.22 mi-2
£1,45007/240.22 mi-2
£1,45007/240.22 miEnglefield House, Reading, RG302
£1,45008/240.22 mi-2
£1,54502/250.22 mi-2
£1,40007/240.23 miCranbury Road, Reading2
£1,35012/240.23 mi-2
£1,29507/240.24 miOxford Road, Reading2
£2,99507/240.24 miWestern Elms Avenue, Reading, RG302
£2,99508/240.24 miWestern Elms Avenue, Reading, RG302
£2,99507/240.24 mi-2
£2,99512/240.24 mi-2
£1,04412/240.24 mi-2
£1,45007/240.24 miOxford Road, RG30 1HF2
£1,40007/240.25 miEnglefield House, Moulsford Mews, Reading, Berkshire, RG302
£1,45007/240.25 miNightingale Way, Reading, RG302
£1,55007/240.25 miNightingale Way, Reading, RG302
£1,14612/240.26 mi-2

Local Area Statistics

Population in RG30

43,410

Population in Reading

321,187

Town centre distance

0.94 miles away

Nearest school

0.20 miles away

Nearest train station

0.17 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+1%

Sales demand

Seller's market

Capital growth (5yrs)

+14%

Property History

Listed for £220,000

February 18, 2025

Floor Plans

Description

  • Online auction date TBC +
  • In need of modernisation +
  • Popular Location +
  • Good transport links +

Open house viewing dates: 26/02/2025 14.00 - 14.30, 01/03/2025 09.30 - 10.00, 06/03/2025 13.45 - 14.15.  FOR SALE BY PUBLIC AUCTION - DATE TBC (unless sold beforehand).  Two bedroom terraced house, just off the Oxford Road.  DESCRIPTION / LOCATION: A terraced house just off the Oxford Road on the western outskirts of Reading. Particularly well placed for the nearby Reading West railway Station just 0.3 miles or a 6-minute stroll, also very good bus services in place into the town centre and railway station. The river Thames path can be accessed easily for some lovely walks. The house has been in the same family for many years and is now in need of expenditure to achieve modern standards and expectations.  Originally an end terrace houses the adjoining similar house has been extended including into the roof space.  Connaught Road is a very popular place to live, with a good range of shops in Oxford Road including Waitrose, Tesco, Lidl and a little further is Reading Town Centre. The A329 and the A417 provide alternative scenic routes to Oxford. First Floor **Bedroom 1     **12’1 x 10’5 (3.68m x 3.05m) **Bedroom 2 **    12’1 x 10’5 (3.68m x 3.17m) Bathroom       approached from Bedrorom 2. Landing **Ground Floor   ** **Lounge     **                12’5 x 11’7 (3.78m x 3.53m) Dining Room            12’ x 10’3 (3.66m x 3.12m)                    **Kitchen   **                  11’1 x 7’ (3.38m x 2.13m) Breakfast Room        9’9 x 7’ (2.97m x 2.13m) **Gardens: **Front garden with low retaining brick wall, path and paving.The rear garden is about 50ft deep. It is partly cleared and with well defined boundaries, often fencing on brickwork. **Services: **Mains water, gas, electricity and drainage are connected. **Council Tax: **Band C EPC: 65 D **Local Authority: **The property is within the administration area of Reading Borough Council. Tenure: Freehold Broadband: Ultrafast 1800 mbps download speed and 1000 mbps upload speed. **The Solicitors: **CP Law, 2 Anvil Court, 50 Denmark Street, Wokingham RG40 2BB Contact: Emma Cox  Viewing: By appointment with the Owner’s Sole Agents and Auctioneers, Martin & Pole, Wokingham.
**THE CONDITIONS OF SALE: **are included in the Legal and Information Pack available from the Auctioneers prior to the Auction Sale and online at .  A copy of the Conditions of Sale will be attached to these Particulars to form part of the Contract.  

*  Property Auctioneers are required by the ASA to explain to prospective buyers the definitions of Price Guide and Reserve.  The Reserve is the minimum price set by the seller at which the auctioneer can sell the property.  The reserve can be set and agreed at any point up to the start of the auction or indeed can be changed during the auction.  The reserve can be lower than the guide price, the same as the guide price or up to 10% above the guide price.  In accordance with ASA guidelines the guide price can be changed at any time up to and including the day of the auction sale.  If the guide price is changed, we will endeavour to advertise the new guide price at the earliest opportunity.  A list of final guide prices will be published in the auction room immediately prior to the sale.  This may be the first opportunity to publish changes.

IMPORTANT NOTICES **Identification of the Buyer: **To accord with the Money Laundering Regulations 2003 and the Proceeds of Crime Act 2002: No later than the date of the auction when the Memorandum of Agreement of the sale and purchase is to be signed, we are required to see and keep copies of documentary evidence of the Buyer's identity and address.  If you intend to bid, please contact us for further information of the documents required to be produced (full details of which are also given in the Information Pack available for intending Buyers) or if you prefer to register beforehand. **Buyer’s Fee: **A charge of £900  (£750 plus VAT), payable only by the successful Buyer, will be due to the Auctioneers, Martin & Pole, upon signature of the Memorandum of Agreement of the sale and purchase.  An appropriate VAT receipted invoice will be issued immediately after the day of the auction sale. **Signing the Memorandum, Payment of the Deposit and Buyer’s Fee: **The Buyer(s) will be required to sign Memorandum of Agreement attached to these Particulars, to pay the Deposit and Buyer’s Fee immediately after the fall of the hammer.  Payment of the deposit will only be accepted if made by cheque or bankers draft drawn on the account of the named Buyer and drawn on a UK clearing bank. **Property Details: **We have endeavoured diligently to ensure the details of this property are accurate. We have not tested the services, appliances, or fittings (if any) referred to in the details. We recommend that each of the statements is verified and the condition of the property and of the services, appliances, and fittings (if any) is investigated by you or your advisers before you finalise your offer to purchase, bid for the property or enter into a contractual commitment. **Stipulations: **The property is sold with all faults and defects whether of condition or otherwise and neither the Seller nor the Agents of the Seller are responsible for any faults or defects or for any statements contained in the Particulars of the property prepared by the Agents. The Buyer hereby acknowledges that he has not entered into this Contract in reliance on any of the said statements and he has satisfied himself as to the correctness of each of the said statements by said Agents in relation to or in connection with the property.

Agent Details

Martin & Pole, Wokingham

0118 230 8426

Next Steps?

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