Mundys says ..

Property Oracle says ..

The property is a 3-bedroom terraced house located on St. Andrews Street in Lincoln, Lincolnshire. The list price is £95,000. The property is in need of modernisation and updating. The wallpaper and carpets are dated, and there is evidence of damp in at least one room. The bathroom appears to have had some recent updates, but the overall condition of the property suggests it requires significant renovation work. The small rear yard is mainly paved and requires some landscaping. The location is within walking distance of Lincoln city centre and benefits from relatively close proximity to several schools, including The Lincoln Bishop King Church of England Primary School (rated ‘Good’ by Ofsted) and Athena School (also rated ‘Good’). The East Midlands Railway station is also conveniently located approximately 0.65km away. Given the average house price in the area is £339,216 and the average price per square foot is £312, the list price of £95,000 for this property appears to be significantly below average. However, this needs to be considered in the context of the property’s condition. The property requires substantial renovation, which will add to the overall cost of purchase. Several nearby comparable properties on St Andrews Street have sold for between £48,000 and £107,000, suggesting that the asking price is within the range of recent transactions in the immediate vicinity. Considering the property’s condition, the need for extensive renovation, and the relatively small plot size, the price may be reasonable for a buyer willing to undertake the necessary improvements. However, the lack of square footage data prevents a more precise assessment of value per square foot.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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