King & Co says ..
An opportunity to acquire this HMO Residential Property with 6 lettable rooms currently fully let in the popular West End of Lincoln. The property consists of 4 en suite rooms with two communal kitchens and 2 larger rooms. The accommodation is spread over 2 floors and must be viewed.
Property Oracle says ..
This six-bedroom, six-bathroom property on West Parade in Lincoln is currently operating as a fully let HMO (House in Multiple Occupation). Its location near the University of Lincoln makes it a suitable investment for investors targeting student accommodation, which is supported by comparable nearby listings. The provided photographs reveal a property in fair condition, with the interior needing some minor renovations. This is a common feature in student properties as such an improvement may not be considered worthwhile by a property investor. The property includes a small, overgrown garden, that could be considered a bonus to tenants. Whilst not overtly important in a HMO. The listed price of £343,000 requires analysis against other comparable properties within the area in order to assess the suitability of the price. The lack of property sqft data in nearby listings complicates this process. While the property shows potential as a rental investment, potential buyers need to factor in potential renovation costs and the limited size of the garden.
Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *
- Price
- 7
- Condition
- 5
- Location
- 7
- Land
- 2
- Bedrooms
- 6
- Bathrooms
- 6
- Sqft (est)
- 1,505.87
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Metrics Year-on-Year
- Average area value
- 309,000.00 £Increased by 24.83 %
- Est sale value
- 600,842.13 £Increased by 112.23 %
- Average area rental value
- 761.00 £/moIncreased by 25.79 %
- Est letting value
- 0.00 £/mo
- Est rental Yield
- 2.96 %Increased by 1.02 %
- Crime Rate
- 6.00 %Unchanged by 0.00 %
Agent Activity
King & Co created the listing.
Nearby Schools
| Name | Type | Ofsted | Distance |
|---|---|---|---|
| Carholme Children'S Centre | Children's Centre Linked Site | 0.07 KM | |
| The St Faith'S Church Of England Infant And Nursery School, Lincoln | Voluntary Controlled School | Good | 0.18 KM |
| The St Faith And St Martin Church Of England Junior School, Lincoln | Voluntary Controlled School | Good | 0.49 KM |
| University Of Lincoln | Higher Education Institutions | Good | 0.98 KM |
| Lincolnshire Secure Unit | Secure Units | 0.99 KM |
Images
Nearby Streets
| Name | Average Price | Average Sqft | Distance |
|---|---|---|---|
| Hampton Court | £ 0 | 0 | 0.00 KM |
| Meadowsweet Close | £ 0 | 0 | 0.00 KM |
| Saltergate | £ 0 | 0 | 0.00 KM |
| Poplar Avenue | £ 0 | 0 | 0.00 KM |
| Saltergate | £ 0 | 0 | 0.00 KM |
Nearby Transport
| Name | NLC | TLC | Distance |
|---|---|---|---|
| Lincoln | 6340 | LCN | 1.83 KM |
| Hykeham | 6310 | HKM | 6.78 KM |
Nearby Listings
| Address | Price | Type | Score | Distance |
|---|---|---|---|---|
| West Parade | £ 343,000 | BUY | 5 / 10 | 0.00 KM |
| West Parade, Lincoln, LN1 | £ 320,000 | BUY | 5 / 10 | 0.04 KM |
| Blenheim Mews, Lincoln, LN1 | £ 135,000 | BUY | 6 / 10 | 0.06 KM |
| Blenheim Road, Lincoln | £ 125,000 | BUY | 5 / 10 | 0.06 KM |
| Blenheim Road, Lincoln, LN1 | £ 180,000 | BUY | 5 / 10 | 0.08 KM |
Nearby Properties
| Address | Price | Distance |
|---|---|---|
| 143 West Parade | £ 177,000 | 0.00 KM |
| 131 West Parade | £ 67,000 | 0.00 KM |
| 137 West Parade | £ 57,000 | 0.00 KM |
| 135 West Parade | £ 155,000 | 0.00 KM |
| 145 West Parade | £ 182,000 | 0.00 KM |