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Alma Place, Spilsby, PE23

East of England

£92,000
Listed on 04/10/2025

Property Details

Bedrooms
2
Type
Semi-detached house
Area
651 sqft

Description

This end terrace house offers a prime opportunity for renovation and investment, situated conveniently within walking distance of Spilsby town centre. The property presents a layout that includes an entrance porch leading into a lounge, dining room, kitchen, and bathroom on the ground floor, while the first floor accommodates two bedrooms. The living space features an inviting lounge with a front-facing window and sliding doors that open to the dining area. This room benefits from natural light and has potential to be revamped into a modern living space. The adjacent kitchen comes equipped with base and wall units along with essential appliances, although it could benefit from updates to better suit contemporary tastes. Upstairs, both bedrooms offer sizable spaces, with the main bedroom featuring a front window and an additional gas fire for warmth. The second bedroom looks out over the rear courtyard, which is enclosed and provides outdoor privacy — ideal for a small garden or seating area. Given its current condition, this property requires updating throughout but stands as an appealing blank canvas for those looking to invest in real estate or create a personalized home. The potential for improvement is significant, whether through simple cosmetic changes or more extensive renovations. In terms of location benefits, this property is set within easy reach of local amenities in Spilsby, making it attractive for both homeowners and renters alike. With mains gas, electricity, water, and drainage already connected, it lays the groundwork for future enhancements without major infrastructural concerns. For those seeking an investment opportunity or a project home with ample potential for value increase through thoughtful renovations, this property merits consideration.

Investment Analysis

(PE23 area)

Below Market Value

This property is priced -36.7% below area average per sq ft

-36.7%
Potential saving
This Property
£141/sq ft
Area Average
£223/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£12,000 - £25,000
Target Value
£159,977
10% above area average per sq ft
Potential ROI
+36.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
11
Average per month
Market Turnover
11%
Properties sold annually

Local Market Trend (PE23)

Area prices are falling by +7.2% over the last 12 months
3 year growth: -6.5%
5 year growth: 14.4%
Investment Disclaimer: Analysis based on PE23 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

Alma Place, Spilsby, PE23
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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
£337
Based on a loan of £69,000 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