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Hungate, Lincoln

East Midlands

£165,000
Listed on 09/07/2025

Property Details

Bedrooms
2
Type
Terraced house
Area
754 sqft

Description

This charming two-bedroom terrace property presents an exciting opportunity for renovation and investment, situated in a desirable city center location. Just a short stroll from vibrant Spring Hill and St. Martin's Square, residents will enjoy easy access to Lincoln’s diverse array of shops, restaurants, and entertainment options. The layout spans two floors, starting with a ground floor that includes a separate lounge and dining area. The upgraded kitchen features modern base and eye-level units complemented by integrated appliances, providing a solid foundation for culinary creativity. Additionally, a conveniently located downstairs shower room has been recently renovated. On the first floor, the property offers two generously sized bedrooms. Notably, one bedroom was originally part of a three-bedroom design and now benefits from an en-suite shower room—providing added privacy and convenience. The potential to reconfigure the space back into three bedrooms could significantly enhance rental appeal or resale value. The exterior features an easy-to-maintain rear courtyard with secure fencing and wall borders, creating a private retreat within the bustling city environment. With shared passageway access to the front of the property, this home maintains both convenience and community spirit. Given its prime location and existing layout options—including loft space that may offer conversion potential subject to planning permission—this property stands as an excellent candidate for those looking to invest in city center living with significant upside for future development or personalized renovations.

Investment Analysis

(LN1 area)

Below Market Value

This property is priced -5.8% below area average per sq ft

-5.8%
Potential saving
This Property
£219/sq ft
Area Average
£232/sq ft
Avg Rent (weekly)
£255
Avg Yield
4.9%

Renovation Potential

Est. Renovation Cost
£16,500 - £41,250
10-25% of property value
Target Value
£192,628
10% above area average per sq ft
Potential ROI
-6.6%
After renovation
Monthly Sales
25
Average per month
Market Turnover
20%
Properties sold annually

Local Market Trend (LN1)

Area prices are rising by +6.1% over the last 12 months
3 year growth: -7.7%
5 year growth: 11.1%
Investment Disclaimer: Analysis based on LN1 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

Hungate, Lincoln
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