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Park Road, Alford

East Midlands

£230,000
Listed on 22/05/2025

Property Details

Bedrooms
2
Type
Detached house
Area
699 sqft

Description

This traditional bungalow presents a promising opportunity for renovation and investment. Nestled on a quiet no-through road, the property boasts convenient access to the amenities of Alford, making it an attractive choice for both first-time buyers and investors seeking to capitalize on the local market. The residence features two bedrooms, a spacious living room with a charming chimney breast, and a functional kitchen equipped with base units and built-in storage. The recently installed gas combination boiler remains under warranty, providing peace of mind for future owners. There’s significant potential to enhance the interior with personalized updates and modern finishes that would maximize its appeal. Externally, the property includes well-sized gardens at both the front and rear, along with a driveway suitable for multiple vehicles leading to a substantial garage. The outdoor space is framed by mature plants and trees, offering a pleasant environment that could be transformed further into an inviting retreat. The layout comprises practical elements such as a pantry for additional storage and a shower room that could benefit from contemporary enhancements. With uPVC windows already in place, many essential aspects are ready for you to build upon. For those looking to invest in an area with growth potential, this bungalow offers an excellent canvas with no onward chain. Its location within walking distance of local shops and services adds to its desirability in an evolving neighborhood. This property not only promises immediate functionality but also allows future owners to shape its character and value through thoughtful renovations.

Investment Analysis

(LN13 area)

Above Market Value

This property is priced +46.5% above area average per sq ft

+46.5%
This Property
£329/sq ft
Area Average
£225/sq ft

Renovation Potential

Est. Renovation Cost
£23,000 - £57,500
10-25% of property value
Target Value
£172,733
10% above area average per sq ft
Potential ROI
-39.9%
After renovation
Monthly Sales
5
Average per month
Market Turnover
5%
Properties sold annually

Local Market Trend (LN13)

Area prices are falling by +8.4% over the last 12 months
3 year growth: -6.4%
5 year growth: 6.1%
Investment Disclaimer: Analysis based on LN13 area averages and may not reflect property-specific factors like condition, exact location, or unique features. 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

Park Road, Alford
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