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Park Road, Alford

East Midlands

£225,000
Listed on 22/05/2025

Property Details

Bedrooms
2
Type
Detached house
Area
699 sqft

Description

This traditional bungalow presents a solid foundation for renovation and investment. Set on a quiet no-through road, it benefits from off-road parking with a driveway leading to a sizable garage, making it ideal for those looking to enhance or expand their living space. The property features both front and rear gardens, offering an opportunity for landscaping and outdoor improvements. Inside, the dual-aspect kitchen includes a range of wall and base units, along with essential appliances like a newly installed gas combination boiler that is still under warranty. There’s also a pantry that provides additional storage. The living room boasts character with its chimney breast wall and mantle, providing a cozy atmosphere with the existing gas fire as an option for heating. The two bedrooms are well-sized, each with windows that allow for natural light. The shower room includes practical elements like built-in shelving and loft access, which hint at potential for future upgrades or expansions. Outside, the garden is predominantly laid to lawn, bordered by various plants and shrubs that could be transformed into lovely outdoor spaces. The sizeable garage features power and lighting, offering further scope for conversion into a workshop or additional storage. This property is conveniently located within walking distance of the amenities in Alford's market town—ideal for those seeking both comfort and accessibility. With no onward chain, this bungalow presents a prime opportunity for investors or homeowners willing to inject their personal touch through updates or renovations.

Investment Analysis

(LN13 area)

Above Market Value

This property is priced +44.4% above area average per sq ft

+44.4%
This Property
£322/sq ft
Area Average
£223/sq ft

Renovation Potential

Light Refurb
Est. Renovation Cost
£10,000 - £20,000
Target Value
£171,388
10% above area average per sq ft
Potential ROI
-30.0%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
6
Average per month
Market Turnover
5%
Properties sold annually

Local Market Trend (LN13)

Area prices are stable by +1.1% over the last 12 months
3 year growth: -5.1%
5 year growth: 4.7%
Investment Disclaimer: Analysis based on LN13 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

Park Road, Alford
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Mortgage Calculator

£
£
£
%
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years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£824
Based on a loan of £168,750 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