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Boston Road, Spilsby, PE23

East of England

£250,000
Listed on 04/10/2025

Property Details

Bedrooms
3
Type
Detached house
Area
1302 sqft

Description

This detached bungalow is situated on a spacious corner plot at the edge of town, providing easy access to the A16 and other major routes. The property is being offered with no onward chain, presenting an excellent opportunity for buyers looking to undertake renovations and create a personalized living space. The interior layout consists of a porch leading into an entrance hall, which connects to a comfortable lounge featuring windows on two sides that fill the space with natural light. The adjoining dining room offers sliding doors that open up to the rear garden, enhancing the potential for indoor-outdoor living. The kitchen, while functional, shows potential for modern updates and currently includes ample cabinetry and spaces for essential appliances. There are three bedrooms in total, each benefiting from built-in storage solutions. The main bedroom has a front-facing window, ensuring morning brightness. The bathroom and separate WC are basic but offer a canvas for redesign according to your vision. Outside, the property features a generous lawned front garden complemented by a concrete driveway that provides off-road parking and leads to an attached garage. The enclosed rear garden comprises mainly concrete but also includes areas suitable for landscaping or additional gardening projects. Occupying approximately 0.21 acres (subject to survey), this property has significant renovation potential both inside and out. It allows future owners not only to upgrade existing features but also to explore possibilities such as extensions or enhanced outdoor spaces—ideal for those seeking investment opportunities or family living. The bungalow benefits from mains gas, electricity, water, and drainage connections. Heating is provided via a gas boiler (currently untested), and the property has double-glazed windows throughout for improved energy efficiency. Its council tax band is D. This property presents itself as an ideal project for investors or homeowners aiming to create their dream residence in a convenient location with ample space to grow.

Investment Analysis

(PE23 area)

Below Market Value

This property is priced -14.1% below area average per sq ft

-14.1%
Potential saving
This Property
£192/sq ft
Area Average
£223/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£319,953
10% above area average per sq ft
Potential ROI
+10.3%
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

Boston Road, 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
£916
Based on a loan of £187,500 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