2 Bed Terraced House, Refurb/BRRR, Reading, RG2 8BA, £275,000

Merton Road North, Reading, Berkshire, RG2 8BA - 8 views - a month ago

Refurb/BRRR
Planning
ROI: 4%
~68 m²
+3 photos

ValuationFair Value

Sold Prices£225K - £420K
Sold Prices/m²£3.5K/m² - £6.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4K/m²

Value Estimate

£280,500

 

 

End Value (After Refurb)

£295,892

Uplift in Value

+8%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£68,750

Stamp Duty & Legal Fees

£10,700

Refurb Costs

£31,827

Bridging Loan Interest

£7,219

Total Cash In

£120,246

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£295,892

Mortgage (After Refinance)

£221,919

Mortgage LTV

75%

Cash Released

£15,669

Cash Left In

£104,577

Equity

£73,973

Rent Range

£1,250 - £3,989

Rent Estimate

£1,646

Running Costs/mo

£1,274

Cashflow/mo

£372

Cashflow/yr

£4,466

ROI

4%

Gross Yield

7%

Local Sold Prices

50 sold prices from £225K to £420K, average is £297.3K. £3.5K/m² to £6.3K/m², average is £4.4K/m².

PriceDateDistanceAddressBeds 
£325K07/230.04 mi13, Padstow Gardens, Reading RG2 8BB2
£270K06/210.11 mi7, Merrivale Gardens, Reading RG2 8AR2
£365K11/220.16 mi8, Landrake Crescent, Reading RG2 8AJ2
£315K06/230.16 mi28, Merton Road South, Reading RG2 8AX2
£280K03/230.16 mi91, Callington Road, Reading RG2 7QG2
£270K04/210.18 mi40, Lamerton Road, Reading RG2 8AS2
£270K03/210.18 mi53, Lamerton Road, Reading RG2 8AS2
£255K02/210.18 mi43, Lamerton Road, Reading RG2 8AS2
£333K02/230.2 mi67, Brixham Road, Reading RG2 7RB2
£265K08/210.2 mi87, Brixham Road, Reading RG2 7RB2
£265K03/210.24 mi45, Ashmore Road, Reading RG2 8AG2
£370K01/230.29 mi92, Longships Way, Reading RG2 0FZ2
£355K12/220.32 mi4, Blagdon Road, Reading RG2 7NN2
£347.5K05/210.35 mi561, Basingstoke Road, Reading RG2 0SH2
£270K02/210.37 mi13, Kingston Gardens, Reading RG2 7SH2
£310K03/230.4 mi58, Ashburton Road, Reading RG2 7PE2
£330K06/230.42 mi24, Puffin Way, Reading RG2 0GT2
£303K06/210.43 mi12, Lindisfarne Way, Reading RG2 0GS2
£301K12/220.44 mi22, Yelverton Road, Reading RG2 7SU2
£242K04/210.47 mi57, Ashburton Road, Reading RG2 7PA2
£313K02/230.48 mi1, Greenfields Road, Reading RG2 8SE2
£325K03/230.48 mi5, Greenfields Road, Reading RG2 8SF2
£320K06/230.49 mi48, Long Barn Lane, Reading RG2 7SX2
£260K11/210.5 miFlat 503, Cygnet House, Drake Way, Reading RG2 0NX2
£407K02/230.54 mi44, Birdhill Avenue, Reading RG2 7JU2
£335K07/230.54 mi6, Farrowdene Road, Reading RG2 8SD2
£275K06/210.54 mi175, Northumberland Avenue, Reading RG2 7PX2
£265K05/210.58 mi286, Basingstoke Road, Reading RG2 0HN2
£420K10/220.59 mi91, Birdhill Avenue, Reading RG2 7JU2
£225K03/210.6 mi16, Ashby Court, Reading RG2 8PG2
£335K07/210.61 mi19, Heatherden Close, Reading RG2 8SB2
£262K05/210.64 mi41, Salcombe Road, Reading RG2 7LH2
£276K07/210.68 mi45, Staverton Road, Reading RG2 7LL2
£280K06/210.68 mi512, Northumberland Avenue, Reading RG2 8NY2
£330K10/210.68 mi518, Northumberland Avenue, Reading RG2 8NY2
£292K08/210.76 mi24, Dovecote Road, Reading RG2 8UJ2
£256K04/210.76 mi80, Linden Road, Reading RG2 7EH2
£275K12/200.76 mi70, Linden Road, Reading RG2 7EH2
£292K02/210.77 mi83, Winton Road, Reading RG2 8HL2
£280K03/210.78 mi27, Lincoln Road, Reading RG2 0EX2
£360K03/230.8 mi108, Winton Road, Reading RG2 8HL2
£295K05/210.8 mi246, Whitley Wood Road, Reading RG2 8TJ2
£360K12/220.82 mi16, Hazel Crescent, Reading RG2 7ND2
£266.9K09/210.82 mi2, Copenhagen Close, Reading RG2 8UH2
£229.9K11/200.82 mi11, Copenhagen Close, Reading RG2 8UH2
£307K06/230.82 mi7, Copenhagen Close, Reading RG2 8UH2
£305K06/210.83 mi22, Hazel Crescent, Reading RG2 7ND2
£300K01/210.83 mi34, Hazel Crescent, Reading RG2 7ND2
£299.5K04/230.84 mi15, Shirley Avenue, Reading RG2 8TE2
£282K05/210.85 mi34, Woodside Way, Reading, Wokingham RG2 8SX2

Local Rents

49 rents from £1.3K/mo to £4K/mo, average is £1.5K/mo.

RentDateDistanceAddressBeds 
£1,60003/250.07 mi-2
£1,50007/240.18 miLamerton Road, Reading, Berkshire, RG22
£1,50003/250.21 mi-2
£1,75003/250.21 mi-2
£1,45009/240.24 miAshmore Road, Reading, Berkshire, RG22
£1,70008/240.25 mi-2
£1,70008/240.25 miHartland Road, Reading, RG22
£1,30007/240.28 miWhale Avenue, Reading, RG22
£1,55009/240.28 miHeron House, Rushley Way, RG22
£1,40002/250.28 mi-2
£2,50002/250.29 mi-2
£2,50003/250.29 mi-2
£1,55007/240.29 miPalmerston House, 3 Aran Walk, Reading, Berkshire, RG22
£1,65008/240.3 miHavergate Way, Kennet Island, RG22
£1,60009/240.32 mi-2
£1,50010/240.32 mi-2
£1,50010/240.32 mi-2
£1,42504/250.32 mi-2
£1,40002/240.33 mi-2
£1,40003/250.33 mi-2
£1,55007/240.33 miHeron House, Rushley Way, Reading, Berkshire, RG22
£1,50008/240.33 miRushley Way, Reading, Berkshire, RG22
£1,85002/240.33 mi-2
£1,95009/240.33 mi-2
£1,95001/250.33 mi-2
£1,90003/250.33 mi-2
£1,55007/240.34 miHeron House, Kennet Island2
£1,50004/250.34 mi-2
£1,45004/250.34 mi-2
£1,60007/240.35 miPuffin Way, Reading, RG22
£1,55009/240.35 miPuffin Way, Reading, RG22
£1,60003/250.36 mi-2
£1,50009/240.36 miHavergate Way, Kennet Island2
£1,60009/240.37 miKennett Island, Reading2
£3,98910/240.37 mi-2
£3,59912/240.37 mi-2
£1,25003/250.37 mi-2
£1,40007/240.37 miHavergate Way, Reading, RG22
£1,40007/240.37 mi-2
£1,45004/250.37 mi-2
£1,30008/240.37 miHavergate Way, Reading, RG22
£1,25007/240.38 miTean House, Kennet Island2
£1,25007/240.38 miTean House, Havergate Way2
£1,40007/240.38 miTean House, Kennet Island.2
£1,50009/240.38 miHavergate Way, Reading2
£1,35008/240.38 miTean House, Kennet Island2
£1,35009/240.38 miTean House, Kennet Island2
£1,45002/250.38 mi-2
£1,45007/240.39 miWhale Avenue, Reading, Berkshire, RG22

Local Area Statistics

Population in RG2

36,866

Population in Reading

321,187

Town centre distance

1.71 miles away

Nearest school

0.10 miles away

Nearest train station

1.45 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+4%

Sales demand

Balanced market

Capital growth (5yrs)

-3%

Property History

Listed for £275,000

February 21, 2025

Floor Plans

Description

  • Two double bedrooms +
  • Large living room +
  • Large garden +
  • Kitchen +
  • Bathroom +
  • Driveway parking +
  • No onward chain +

* OPEN HOUSE TUESDAY 25TH FEBRUARY 4:30PM-5:45PM *

Situated within a short distance of local shops, schools and amenities is this spacious home which requires modernisation throughout and has tremendous potential to extend further, subject to relevant planning permission. The property benefits from having two double bedrooms, a large living room, kitchen and downstairs bathroom. There is also a large garden and driveway parking. Offered for sale with no onward chain, an early viewing is recommended to avoid disappointment.

Agent Details

Romans, Reading

0118 230 5271

Next Steps?

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