We've tightened what earns a Pursue. A home now needs a published valuation, a strategy that still makes money after real running costs and lender stress tests, and no listing problems that would stop a mortgage. You'll see fewer Pursues, and each one has been checked harder.
See how verdicts work3-bedroom house · LN9 5AX
Listing removedListed 408 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
We are acting in the sale of the above property and have received an offer of £ 180,000 on the above property.
Any interested parties must submit any higher offers in writing to the selling agent before exchange of contracts takes place This is a spacious 1078 sq ft three double bedroom, two reception, flexible accommodation, detached bungalow, in need of updating, on a corner plot with secluded gardens (majority fenced, remainder hedgerow, and having a paved patio, wooden workshop and 2 sheds), as well as off road parking that may be extended to tandem parking for 5 cars including caravan, as this property also owns the land to the rear of next door, all in a popular location, to the edge of the well serviced historic market town of Horncastle and there is NO ‘upward CHAIN’.
It also benefits from UPVC double glazing, PVC soffits and fascias, mains gas central heating with Worcester boiler, external lighting, power and water tap, and is offered freehold.
The property consists of recessed front door porch, 90 sq ft entrance hall, 170 sq ft dual aspect lounge (with feature marble fireplace having inset coal effect gas fire), UPVC double glazed conservatory (with wall light, radiator, power & French doors to garden), kitchen (includes one & half bowl stainless steel sink and slot in Hotpoint cooker having 4 gas rings, double oven, LCD display and glazed splashback lid) that is open plan to the dual aspect dining room (with 2 wall lights and polycarbonate roof), and there is a dual aspect boiler storage room.
There is also the shower wet room (with majority walls fully tiled, walk in open shower having monsoon & flexible shower heads, hand basin in vanity with 3 cupboards & 2 drawers, shaver point and built in full height shelved cupboard), and the three double bedrooms (including dual aspect and built in double & triple wardrobes).
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
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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

FAQ
About Prospect Street, Horncastle
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