3 × 1-bed cottage · PE23 5DW
For saleListed 20 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Mythe Cottage is a versatile, 2/3 bedroom family home, offers for sale alongside the Old School House and occupying a generous plot.
The main residence provides lounge, kitchen and bedroom spaces alongside a useful utility and shower room to the ground floor, with two bedrooms and bathroom above.
The property enjoys a Southerly aspect and is within walking distance of the range of facilities in the market town of Spilsby, with public transport links to coastal Skegness; Boston, Alford, Horncastle and the city of Lincoln.
The datestone on the property reads 1887.
Further options for potential purchasers are presented with the Old School House (with the Franklin School name stone to the road-side face), a detached, single-story building with adjacent garage/workshop.
With electric and water connected, it has been indicated planning would be possible to create a separate dwelling (subject to all necessary consents).
There is sufficient driveway space to accommodate two separate properties, and garden space to be divided as required.
Currently, the front is set to a large, low-maintenance gravel space, with gates through to hard standing and an open car-port / workshop area.
Fenced off is the generous rear garden, laid to lawn and South facing.
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 Mythe Cottage & the Old School House, 53 Ashby Road, Spilsby
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