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See how verdicts work2-bedroom terraced house · LN9 5DR
For saleReduced £20k (−21.1%) on 14 OctListed 58 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
A two bedroom property enjoying a particularly attractive position overlooking the River Bain, conveniently located close to Horncastle town centre.
Offered with no onward chain and offering excellent potential for improvement and personalisation, this is an exciting opportunity for buyers looking for a home with a desirable setting and scope to make it their own.
The property provides accommodation comprising an entrance hall, living room with fireplace & log burning stove, kitchen, two bedrooms and a shower room.
One of the real highlights is the pleasant outlook over the river, providing an attractive backdrop as well as the property's convenient town location.
To the rear is a generous paved garden, providing a low-maintenance outdoor space with plenty of potential for seating, entertaining or further landscaping.
The property would benefit from some updating and modernisation, but this also presents an excellent opportunity for a purchaser to create a home to their own taste and requirements.
With its combination of river views, generous garden, convenient location and no onward chain, this property is likely to appeal to a range of buyers including first-time buyers, investors and those looking for a project in a well-established Lincolnshire market town.
Location Horncastle is a popular and historic Lincolnshire market town situated on the edge of the Lincolnshire Wolds, offering a good range of everyday amenities including independent shops, supermarkets, cafés, restaurants, pubs and local services.
The town is well known for its traditional market, antique centres and attractive historic character.
The property is conveniently positioned within easy reach of Horncastle town centre, while also benefiting from the attractive riverside setting of the River Bain.
The surrounding Lincolnshire Wolds provide excellent opportunities for walking and enjoying the countryside, whilst road links provide convenient access to Lincoln, Louth, Boston and the Lincolnshire coast.
Arrange your viewing on the Purplebricks website or via the Purplebricks app.
Property Ownership Information Tenure Freehold Council Tax Band A Property Description Disclaimer This is a general description of the property only, and is not intended to constitute part of an offer or contract.
It has been verified by the seller(s), unless marked as "draft".
Purplebricks conducts some valuations online and some of our customers prepare their own property descriptions, so if you decide to proceed with a viewing or an offer, please note this information may have been provided solely by the vendor, and we may not have been able to visit the property to confirm it.
If you require clarification on any point then please contact us, especially if you’re traveling some distance to view.
All information should be checked by your solicitor prior to exchange of contracts. Successful buyers will be required to complete anti-money laundering and proof of funds checks.
The current non-refundable cost is £80 inc. VAT per offer. You’ll need to pay this to Purplebricks and complete all checks before we can issue a memorandum of sale.
The cost includes obtaining relevant data and any manual checks and monitoring which might be required.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
This is not financial or investment advice. Prop AI Deals is not authorised by the Financial Conduct Authority (FCA) to provide investment advice.
All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
Agent & docs
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FAQ
About 2, Watermill Road, Horncastle
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