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Garrick Close, Lincoln, LN5

East Midlands

£190,000
Listed on 14/12/2025

Property Details

Bedrooms
3
Type
Detached house

Description

This three-bedroom detached bungalow presents a promising opportunity for buyers looking to invest in a property with substantial renovation potential. While the home requires modernisation, it offers a blank canvas that can be tailored to your personal style and needs. The spacious reception room invites both relaxation and social gatherings, while the functional kitchen is well-equipped with essential appliances and ample space for culinary projects. Each of the three double bedrooms provides generous accommodation, perfect for family living or as rental units. Outside, you'll find both front and rear gardens, along with parking facilities and a single garage—ideal for outdoor entertaining or gardening enthusiasts. Conveniently located near public transport links, local shops, parks, and schools, this property is perfect for families or those seeking easy access to amenities. Importantly, there is no onward chain, allowing for a straightforward buying process. This bungalow stands as an excellent choice for first-time buyers or seasoned investors keen to expand their portfolios through strategic renovations.

Investment Analysis

(LN5 area)
Area Average
£213/sq ft
Avg Rent (weekly)
£184
Avg Yield
4.7%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £45,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
38
Average per month
Market Turnover
18%
Properties sold annually

Local Market Trend (LN5)

Area prices are rising by +7.5% over the last 12 months
3 year growth: 3.5%
5 year growth: 9.7%
Investment Disclaimer: Analysis based on LN5 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

Garrick Close, Lincoln, LN5
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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
£696
Based on a loan of £142,500 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