Monks Road, Lincoln, LN2
East Midlands
£149,950
Listed on 25/10/2026
Listed on 25/10/2026
The listing
Property details
Bedrooms
3Type
TerracedArea
1216 sqftFeatures
- Garden
Description
This three-bedroom terraced house is arranged over three floors and offers two reception rooms, two bathrooms and additional basement accommodation. The first-floor living room has a bay window, with a separate dining room and a spacious kitchen alongside it. The kitchen is described as having scope for updating, allowing a purchaser to plan improvements to suit their requirements.
There are three bedrooms on the upper floor, including a larger principal bedroom, together with two bathrooms. The two-room basement provides further space for storage or other uses, subject to any necessary permissions and consents. The property also has an enclosed, paved rear yard with scope for landscaping.
The accommodation offers a substantial project for buyers considering modernisation. The listing gives an approximate accommodation area of 1,130 sq. ft and an EPC rating of D.
WHOTS analysis
Our WHOTS verdict
An internal assessment of the opportunity to acquire, improve and create value.
73out of 100
Grade BGood opportunity
Confidence: MEDIUM
At £149,950, this three-bedroom terrace is a notably cheap acquisition against the local £/sqf benchmark, and its 73/100 B grade reflects that strong entry price and the scope to create value. The three-storey layout offers two reception rooms, a spacious principal bedroom and substantial two-room basement space, giving a renovator plenty to work with. The kitchen and bathroom are dated, while tired finishes and an untidy paved yard offer clear opportunities to reshape the home to your taste.
This is a substantial project rather than a cosmetic refresh: the basement has pronounced staining and flaking that may indicate moisture-related issues, so the source and remediation need investigating. The visible frontage and roof appear broadly intact, though their detailed condition is not established. The £30,000–£60,000 renovation range gives a sense of the work involved, and the basement’s future use may depend on permissions and consents.
Key opportunities
- Use the two reception rooms and three-storey layout to create a more cohesive home, with flexibility for family living, guests or working from home.
- The substantial two-room basement offers scope to improve and make better use of the additional space, subject to suitable consents.
- Refresh the dated kitchen, bathroom, finishes and paved yard to give the house a more individual, modern feel.
Key risks
- Pronounced staining and flaking across basement surfaces may relate to moisture; investigate the source and likely remediation before setting the works budget.
- The basement condition, dated finishes across several rooms and yard clearance make this a substantial programme, with a £30,000–£60,000 works range rather than a quick cosmetic refresh.
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Current average 2-year fixed rate is 4.45%
Current average variable rate is 6.60%
Monthly Repayments
£566
Based on a loan of £112,462 over 30 years at 4.45% interest
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