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£425,000
Bedrooms
Bathrooms
Reception
This well-presented 4-bedroom terraced house (one bedroom ground floor & 3 bedrooms on the first floor) is situated in the vibrant heart of Reading`s primary student area, a location renowned for high rental demand. Just a short two-minute walk from an array of local shops, cafes, and essential amenities, this property is ideally positioned to cater to the needs of the student community, offering an unmatched blend of convenience, comfort, and rental appeal. It`s currently generating ?2,000 per month through a secured tenancy for the 2024-2025 academic year, making it an immediate income-generating asset and an excellent addition to any investment portfolio.
The interior layout is tailored to maximise tenant comfort, starting with four generously sized double bedrooms, all fully furnished to provide a private and convenient space for each tenant. The properties spacious lounge area offers a warm and inviting atmosphere that`s perfect for socialising or unwinding after a day of classes, making it a popular feature among student tenants. A modern kitchen, fully equipped with necessary appliances, streamlines meal preparation and caters to a busy lifestyle.
Adding further convenience is the properties ground-floor bathroom, thoughtfully located for ease of access from all rooms. Beyond the main living areas, the property includes a utility room, offering valuable storage space and easy access to the private rear garden. This outdoor space is a rare find in student accommodation, providing a welcoming environment for summer gatherings, outdoor activities, or simply a quiet retreat.
Other key features include gas central heating, which ensures a cozy and energy-efficient environment throughout the year, enhancing both comfort and cost-effectiveness for tenants.
Key Investment Highlights:
- A further annual contract has been signed with the tenants for 2025-2026 generating a rental income of ?2,200 per month,
- Prime location in Reading`s student area with high rental demand
This property combines a sought-after location with essential amenities, making it a sound choice for investors. Contact us today for further details or to schedule a viewing don`t let this unique investment opportunity slip by!
Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Purchasers must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.
Council Tax
Reading Borough Council, Band C
Utilities
Electric: Mains Supply
Gas: Mains Supply
Water: Mains Supply
Sewerage: None
Broadband: None
Telephone: None
Other Items
Heating: Gas Central Heating
Garden/Outside Space: Yes
Parking: No
Garage: No
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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