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Elgar Road, Reading, Berkshire, RG2 - Image 1
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Elgar Road, Reading, Berkshire, RG2

South East

£290,000
Listed on 28/09/2025

Property Details

Bedrooms
2
Type
Terraced house
Area
862 sqft

Description

This charming terraced home presents an excellent opportunity for renovation and investment on the outskirts of the town center, just a short walk from Reading's mainline train station. With three bedrooms, this property is currently in need of complete modernization, allowing potential buyers to truly make it their own. The absence of onward chain complications ensures a smoother transaction process. Situated in a prime location, the property benefits from its proximity to Central Reading, where commuters will appreciate the fast non-stop train services to London Paddington. Additionally, easy access to the M4 motorway and closeness to London Heathrow (approximately 30 miles away) further enhances its appeal for both residents and renters alike. The area seamlessly combines historical significance with modern conveniences, showcased by landmarks such as the Town Hall and the Abbey Ruins, alongside contemporary attractions like the Oracle Shopping Centre filled with shops, bars, and dining options. The accommodation features an entrance hall leading to two reception rooms, a kitchen, and a bathroom on the ground floor. Upstairs are two double bedrooms plus a loft room that offers flexible usage possibilities—ideal as an office or additional living space. Outdoor space includes street permit parking and a private garden at the rear that enjoys views over the River Kennet, providing a tranquil retreat in an urban setting. Given its location along the riverbanks and within reach of various leisure activities—including gyms and sports clubs—this property has significant rental potential once renovations are completed. With mains electricity and water connections already in place, this home offers plenty of possibilities for those looking to invest or create their perfect living space. Council tax band B indicates reasonable local taxation costs for future occupants. This property stands as a canvas awaiting transformation into a modern residence within one of Reading’s vibrant neighborhoods.

Investment Analysis

(RG2 area)

Below Market Value

This property is priced -20.5% below area average per sq ft

-20.5%
Potential saving
This Property
£336/sq ft
Area Average
£423/sq ft
Avg Rent (weekly)
£400
Avg Yield
5.4%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£60,000 - £90,000
Target Value
£401,468
10% above area average per sq ft
Potential ROI
+5.6%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
32
Average per month
Market Turnover
15%
Properties sold annually

Local Market Trend (RG2)

Area prices are falling by +5.8% over the last 12 months
3 year growth: -2.7%
5 year growth: 10.6%
Investment Disclaimer: Analysis based on RG2 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Elgar Road, Reading, Berkshire, RG2
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,062
Based on a loan of £217,500 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE