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Ely Way, Grantham, NG31

East Midlands

£120,000
Listed on 05/05/2026

Property Details

Bedrooms
2
Type
Semi Detached Bungalow
Area
495 sqft

Description

This two-bedroom semi-detached bungalow presents a promising investment opportunity in the desirable Barrowby Gate area of Grantham. Set in a well-established neighbourhood, this property boasts a spacious south-facing garden and off-road parking, providing both functionality and potential for enhancement. The bungalow is being sold through an online auction process, allowing for a quick and secure transaction once your bid is accepted. The home requires only minimal cosmetic improvements, making it an ideal choice for those looking to personalize their living space without embarking on extensive renovations. Inside, you'll find a practical entrance hall leading to a generous living room filled with natural light from its large double-glazed window. The kitchen offers modern worktops and ample storage, alongside essential appliances and an easily accessible side entrance. Both bedrooms are comfortably sized, with the master bedroom overlooking the garden. The family bathroom includes all necessary fixtures but could benefit from some updating to match contemporary standards. With its excellent outdoor space and convenient access to local amenities and transport links, this bungalow holds significant potential for buyers seeking to add value while creating a cozy home.

Investment Analysis

(NG31 area)

Above Market Value

This property is priced +9.3% above area average per sq ft

+9.3%
This Property
£242/sq ft
Area Average
£222/sq ft
Avg Rent (weekly)
£178
Avg Yield
3.9%

Renovation Potential

Light Refurb
Est. Renovation Cost
£5,000 - £12,000
Target Value
£120,797
10% above area average per sq ft
Potential ROI
-8.5%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
55
Average per month
Market Turnover
15%
Properties sold annually

Local Market Trend (NG31)

Area prices are falling by -3.6% over the last 12 months
3 year growth: +0.3%
5 year growth: +12.2%
Investment Disclaimer: Analysis based on NG31 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

Ely Way, Grantham, NG31
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 3.97%

Current average variable rate is 6.59%

Monthly Repayments
£428
Based on a loan of £90,000 over 30 years at 3.97% 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.

Stamp Duty Calculator

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