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Legsby Road, Market Rasen

East Midlands

£280,000
Listed on 25/07/2025

Property Details

Bedrooms
3
Type
Detached house
Area
1953 sqft

Description

This spacious three-bedroom detached bungalow presents a promising opportunity for renovation and investment. Nestled in a tranquil non-estate location, the property is conveniently situated within a short distance of Market Rasen town centre, providing easy access to various local shops and amenities. Set on a corner plot, the home benefits from a sizable driveway that accommodates off-street parking and grants access to a double garage. The low-maintenance gardens at the rear offer potential for outdoor enhancement or landscaping projects. Inside, while the property requires some updating, it boasts generous living spaces. The layout includes an Entrance Porch leading into a Hallway with built-in cupboard space, and a Kitchen Diner featuring ample wall and base units, as well as a pantry for additional storage. Adjacent to the kitchen is a Conservatory that opens up possibilities for creating a bright and inviting living area. The property features three double bedrooms, one of which has an En-Suite Shower Room. There is also a family bathroom that contains both shower facilities and ample room for modernization. Additionally, solar panels with Tesla battery storage are included—an attractive feature for energy efficiency and sustainability. Market Rasen itself is known for its vibrant community atmosphere. The town offers excellent transport links through its train station and bus services connecting to larger towns and cities. Residents can enjoy local recreational activities such as golf at the nearby course or attending events at the racecourse. With independent retailers, regular market days in the cobbled square, dining options, public houses, library services, healthcare providers, and reputable schools—including Market Rasen C of E Primary School and De Aston School—this area combines convenience with quality living. Given its location and features, this bungalow represents significant potential for investors or individuals looking to create their ideal home through thoughtful renovations. The property is offered with no onward chain, simplifying the acquisition process for prospective buyers ready to embark on their next project.

Investment Analysis

(LN8 area)

Below Market Value

This property is priced -35.4% below area average per sq ft

-35.4%
Potential saving
This Property
£143/sq ft
Area Average
£222/sq ft
Avg Rent (weekly)
£222
Avg Yield
4.0%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£476,708
10% above area average per sq ft
Potential ROI
+49.0%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
15
Average per month
Market Turnover
6%
Properties sold annually

Local Market Trend (LN8)

Area prices are falling by +13.8% over the last 12 months
3 year growth: -4.3%
5 year growth: 11.1%
Investment Disclaimer: Analysis based on LN8 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

Legsby Road, Market Rasen
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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
£1,026
Based on a loan of £210,000 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