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Elgin Drive, Melton Mowbray

East Midlands

£190,000

Listed on 17/07/2026

Property details

Bedrooms
2
Type
Semi Detached Bungalow
Area
543 sqft

Description

This two-bedroom semi-detached bungalow presents a noteworthy opportunity for those looking to invest in a home that requires updating. Nestled in a reputable residential area, this property is conveniently located near the town centre and offers the advantage of no upward chain. The entrance hall features essential storage and leads into various rooms that can be transformed into modern living spaces. The kitchen has a selection of base units and ample plumbing for appliances, while the lounge dining room boasts an open fire, perfect for creating a cozy atmosphere. Each bedroom provides good space with built-in storage options. The shower room, though functional, could benefit from a contemporary upgrade. Outside, you will find low-maintenance gardens both at the front and rear, along with a detached garage that adds further utility. This property is ideal for renovation enthusiasts eager to enhance its potential value.

Investment analysis

(LE13 area)

Above Market Value

This property is priced +34.3% above area average per sq ft

+34.3%
This Property
£350/sq ft
Area Average
£261/sq ft
Avg Rent (weekly)
£207
Avg Yield
4.1%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£155,597
10% above area average per sq ft
Potential ROI
-32.3%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
34
Average per month
Market Turnover
12%
Properties sold annually

Local Market Trend (LE13)

Area prices are falling by -8.0% over the last 12 months
3 year growth: -8.1%
5 year growth: +9.0%
Investment Disclaimer: Analysis based on LE13 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

Elgin Drive, Melton Mowbray
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Mortgage calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£718
Based on a loan of £142,500 over 30 years at 4.45% 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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