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Hanby Lane, Welton-Le-Marsh, Spilsby

East of England

£175,000
Listed on 04/10/2025

Property Details

Bedrooms
3
Type
Semi-detached house
Area
1009 sqft

Description

Nestled on the fringe of the tranquil village of Welton-le-Marsh, this three-bedroom semi-detached house presents an opportunity for renovation and personalization. While the property requires modernization, it already features essential upgrades such as oil-fired central heating and most windows fitted with uPVC double glazing. The layout includes a driveway for off-road parking and a rear garden that offers potential for landscaping or outdoor living enhancements. The house comprises a spacious living room with a charming brick fireplace as its centerpiece, providing a cozy atmosphere. Adjacent to the living area, a conservatory extends the living space, allowing for natural light and views of the garden. The kitchen is designed in an ‘L’ shape, equipped with various wall and base units, alongside a separate utility room offering additional functionality. On the first floor, you’ll find three bedrooms, each offering built-in storage solutions that optimize space. A first-floor shower room along with a separate WC adds convenience for family living. The overall layout is practical yet allows for reconfiguration to meet modern standards and preferences. The property's outdoor space includes two areas of lawn separated by mature hedging, creating privacy while also providing opportunities for gardening or recreational use. An existing patio area offers a foundation for outdoor entertaining or relaxation. Situated in a location that combines rural charm with accessibility to nearby amenities, this home not only serves as a comfortable residence but also holds significant investment potential. With no onward chain involved, this property is ready for new owners looking to make their mark through renovation efforts and personal style choices. This freehold property is connected to mains electricity, water, and drainage systems. The current council tax rate is Band A through East Lindsey District Council, making it an economical option in terms of ongoing costs. With its combination of growth potential and desirable location, this residence stands out as an appealing choice for both investors and those seeking a project in a peaceful setting.

Investment Analysis

(PE23 area)

Below Market Value

This property is priced -22.4% below area average per sq ft

-22.4%
Potential saving
This Property
£173/sq ft
Area Average
£223/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£20,000 - £40,000
Target Value
£247,952
10% above area average per sq ft
Potential ROI
+15.3%
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

Hanby Lane, Welton-Le-Marsh, Spilsby
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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
£641
Based on a loan of £131,250 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