Paul Fox says ..

Property Oracle says ..

This property is a 5 bedroom, 1 bathroom detached house located on Morton Terrace in Gainsborough, Lincolnshire. It’s situated in Gainsborough North, within the West Lindsey district of Lincolnshire. The property is listed at £400,000 and has 2,041.18 sqft of living space and a plot size of 2,373.40 sqft. The location benefits from being close to Gainsborough Central train station (1km) and Gainsborough Lea Road train station (2.31km), providing convenient access to transport links. Several schools are also within a short distance, including The Gainsborough Parish Church Primary School (0.30km), Handel House Preparatory School (0.48km), and The Gainsborough Nursery School (0.63km). The proximity to these amenities contributes positively to the desirability of the location. Based on the provided images, the property appears to be a period property requiring some renovation. While some areas, such as the kitchen and one bathroom, show signs of modernisation, other rooms display features consistent with a period property needing updating. The property shows signs of wear and tear, including peeling wallpaper and exposed pipes. The garden is present but requires attention. Considering the average house price in the area is £165,549 and the average price per sqft is £181, the listed price of £400,000 for this 2,041.18 sqft property seems high. However, it’s important to note that the average sqft and price are based on properties that may differ significantly in size, condition, and features from this specific property. The property’s size, the number of bedrooms, and the presence of a garden are factors that could justify a higher price than the average. The need for renovation is a significant factor that would likely influence a buyer’s offer. Nearby comparable properties show a range of prices, suggesting some variation in property values on Morton Terrace. The need for renovation could significantly impact the final sale price.

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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