2 Bed Terraced House, Single Let, Reading, RG2 0PD, £325,000

Drake Way, Reading, Berkshire, RG2 0PD - 2 months ago

Leasehold
BTL
~68 m²
+12 photos

ValuationOvervalued

Sold Prices£225K - £420K
Sold Prices/m²£3.4K/m² - £6.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4.8K/m²

Value Estimate

£304,631

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£81,250

Stamp Duty & Legal Fees

£23,700

Total Cash In

£104,950

 

 

Cash Out

 

Rent Range

£1,179 - £3,989

Rent Estimate

£1,338

Running Costs/mo

£1,303

Cashflow/mo

£35

Cashflow/yr

£417

ROI

0%

Gross Yield

5%

Local Sold Prices

48 sold prices from £225K to £420K, average is £304.8K. £3.4K/m² to £6.3K/m², average is £4.5K/m².

PriceDateDistanceAddressBeds 
£260K11/210.06 miFlat 503, Cygnet House, Drake Way, Reading RG2 0NX2
£330K06/230.08 mi24, Puffin Way, Reading RG2 0GT2
£303K06/210.11 mi12, Lindisfarne Way, Reading RG2 0GS2
£370K01/230.22 mi92, Longships Way, Reading RG2 0FZ2
£265K05/210.42 mi286, Basingstoke Road, Reading RG2 0HN2
£325K07/230.49 mi13, Padstow Gardens, Reading RG2 8BB2
£333K02/230.49 mi67, Brixham Road, Reading RG2 7RB2
£265K08/210.49 mi87, Brixham Road, Reading RG2 7RB2
£320K06/230.5 mi48, Long Barn Lane, Reading RG2 7SX2
£301K12/220.5 mi22, Yelverton Road, Reading RG2 7SU2
£270K02/210.54 mi13, Kingston Gardens, Reading RG2 7SH2
£280K03/230.56 mi91, Callington Road, Reading RG2 7QG2
£270K06/210.59 mi7, Merrivale Gardens, Reading RG2 8AR2
£275K06/210.62 mi175, Northumberland Avenue, Reading RG2 7PX2
£365K11/220.63 mi8, Landrake Crescent, Reading RG2 8AJ2
£315K06/230.63 mi28, Merton Road South, Reading RG2 8AX2
£280K03/210.66 mi27, Lincoln Road, Reading RG2 0EX2
£270K04/210.67 mi40, Lamerton Road, Reading RG2 8AS2
£270K03/210.67 mi53, Lamerton Road, Reading RG2 8AS2
£255K02/210.67 mi43, Lamerton Road, Reading RG2 8AS2
£310K03/230.67 mi58, Ashburton Road, Reading RG2 7PE2
£355K12/220.69 mi4, Blagdon Road, Reading RG2 7NN2
£347.5K05/210.72 mi561, Basingstoke Road, Reading RG2 0SH2
£265K03/210.73 mi45, Ashmore Road, Reading RG2 8AG2
£242K04/210.73 mi57, Ashburton Road, Reading RG2 7PA2
£300K06/210.78 mi18, Yew Lane, Reading RG1 6DA2
£415K08/220.78 mi1, Yew Lane, Reading RG1 6DA2
£280K02/210.8 mi14, Swainstone Road, Reading RG2 0DX2
£262K05/210.81 mi41, Salcombe Road, Reading RG2 7LH2
£407K02/230.84 mi44, Birdhill Avenue, Reading RG2 7JU2
£276K07/210.86 mi45, Staverton Road, Reading RG2 7LL2
£350K04/210.87 mi158, Elgar Road, Reading RG2 0BN2
£390K12/220.87 mi190, Elgar Road, Reading RG2 0BN2
£420K10/220.87 mi91, Birdhill Avenue, Reading RG2 7JU2
£325K03/230.91 mi5, Greenfields Road, Reading RG2 8SF2
£342.5K03/230.92 mi41, Collis Street, Reading RG2 0AE2
£315K12/220.92 mi31, Collis Street, Reading RG2 0AE2
£295K03/210.92 mi10, Collis Street, Reading RG2 0AE2
£352.5K11/220.92 mi1, Heron Way, Reading RG1 6DY2
£325K02/230.93 mi22, Collis Street, Reading RG2 0AE2
£313K02/230.93 mi1, Greenfields Road, Reading RG2 8SE2
£225K03/210.96 mi16, Ashby Court, Reading RG2 8PG2
£252.5K03/230.98 mi97, Waldeck Street, Reading RG1 2RF2
£265K05/230.98 mi81, Waldeck Street, Reading RG1 2RF2
£335K07/230.98 mi6, Farrowdene Road, Reading RG2 8SD2
£306.5K04/231 mi26, Waldeck Street, Reading RG1 2RE2
£254K03/211 mi128, Waldeck Street, Reading RG1 2RE2
£397.5K11/201 miWest Lodge, Coley Avenue, Reading RG1 6LS2

Local Rents

50 rents from £1.2K/mo to £4K/mo, average is £1.5K/mo.

RentDateDistanceAddressBeds 
£1,60007/240 miNightingale House, Drake Way, Kennet Island2
£1,50007/240 miDrake Way, Reading, RG22
£1,55007/240.01 miDrake Way, Reading, RG22
£1,50008/240.01 mi-2
£1,60003/250.01 mi-2
£1,50004/250.01 mi-2
£1,49510/230.01 miMontagu House, Padworth Avenue, Reading, Berkshire, RG22
£1,17908/240.02 miBedwyn Mews, Reading, Berkshire, RG22
£1,55008/240.02 miSkylark House, Drake Way, Reading, RG22
£1,50007/240.03 miDrake Way, Reading, Berkshire, RG22
£1,70007/240.03 miSkylark House, Drake Way, Reading, Berkshire, RG22
£1,50009/240.03 miSkylark House, Drake Way, Reading, RG22
£1,60007/240.04 miDrake Way, Reading, Berkshire, RG22
£1,60009/240.04 miSkylark House, Kennet Island2
£1,50007/240.04 miSkylark House, Drake Way2
£1,60008/240.04 miSkylark House, Kennet Island2
£1,54912/240.04 mi-2
£1,49507/240.05 miPeregrine House, Bedwyn Mews, Reading, RG22
£1,45008/240.05 miCygnet House, Drake Way, Reading, RG22
£1,59501/250.05 mi-2
£1,60009/240.05 miOsprey House, Bedwyn Mews, Reading, RG22
£1,65007/240.05 miDrake Way, Reading, RG22
£1,70002/240.05 mi-2
£1,50007/240.05 miOsprey House, Bedwyn Mews, Reading, Berkshire, RG22
£1,50009/240.05 miOsprey House, Bedwyn Mews, Reading, Berkshire, RG22
£1,60009/240.06 miCygnet House, Kennet Island2
£1,69510/230.06 miMontagu House, Padworth Avenue, Reading, Berkshire, RG22
£1,49508/240.08 miHarlequin House, Padworth Avenue, Reading, RG22
£1,60007/240.08 miMontagu House, Padworth Avenue, Reading, RG22
£1,52507/240.08 miCygnet House, Drake Way, Reading, RG22
£1,49507/240.08 miHarlequin House, Padworth Avenue, Reading, RG22
£1,55009/240.08 miHarlequin House, Padworth Avenue, Reading, RG22
£1,72502/250.09 mi-2
£1,40007/240.1 miHeron House, Rushley Way, Reading, Berkshire, RG22
£1,45007/240.1 miCygnet House, Drake Way, Reading, RG22
£1,55007/240.1 miGweal Avenue, Reading, Berkshire, RG22
£1,65009/240.1 miLindisfarne Way, Reading, RG22
£1,45007/240.11 miDrake Way, Reading2
£1,45007/240.11 miGreenham Avenue, Reading, RG22
£1,35002/240.11 mi-2
£1,40007/240.11 miMerrick House, Kennet Island2
£1,20007/240.11 miKennet Island, Reading2
£1,45007/240.11 miWhale Avenue, Reading, Berkshire, RG22
£1,50008/240.12 miCygnet House, Drake Way, RG22
£1,60009/240.12 miKennett Island, Reading2
£1,60007/240.14 miPuffin Way, Reading, RG22
£1,55009/240.14 miPuffin Way, Reading, RG22
£1,50009/240.14 miHavergate Way, Kennet Island2
£3,98910/240.15 mi-2
£3,59912/240.15 mi-2

Local Area Statistics

Population in RG2

36,866

Population in Reading

321,187

Town centre distance

1.37 miles away

Nearest school

0.40 miles away

Nearest train station

1.15 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+4%

Sales demand

Balanced market

Capital growth (5yrs)

-3%

Property History

Listed for £325,000

March 3, 2025

Floor Plans

Description

  • Two Bedrooms +
  • Two Bathrooms +
  • Roof Terrace & Balcony +
  • Residents Parking +
  • No Onward Chain +
  • Close to Local Amenities +

Offered to the market with no onward chain is this exclusive, and rarely available, two bedroom penthouse apartment in excellent condition. Located in Kennet Island, the property benefits from excellent transport links offering easy access to Reading town centre, Reading Train Station, Green Park Train Station, and M4. The property is close to local amenities including convenience stores, gyms, supermarkets, and retail parks.

The property offers light and spacious accommodation comprising: entrance hallway with storage cupboard, two double bedrooms, the master with an en-suite & balcony, family bathroom and an open plan kitchen/dining/lounge area with access to the roof terrace.
The property also has a permit free secure and gated ground floor level parking space, and two visitor passes.

At the time of Instruction, we have been advised by the vendors of the following information:

Council Tax Band C (Reading Borough Council)

Ground rent £450 p/a
Service charge £2,530.64 p/a
Lease - 999 Years From 1st January 2005

The above information may be subject to change during the transaction period

Agent Details

Parkers, Reading

0118 230 6420

Next Steps?

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