Sold STC Terraced

40 ST NICHOLAS STREET

LINCOLN, LINCOLNSHIRE LN1 3EQ

2 beds 1 baths Listed 20 Aug 2025 (-336d)

£142,500

Reduced on 29 Sep 2025

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# 2 bedroom terraced house for sale (LN1 3EQ)

## Property Details

| Key | Value |
|-----|-------|
| Address | 40 ST NICHOLAS STREET, LINCOLN, LINCOLNSHIRE LN1 3EQ |
| Price | £142,500 |
| Bedrooms | 2 |
| Bathrooms | 1 |
| Council tax | A |
| Last sold | £141,000 Feb 2026 |

## Description

**** **** Situated in the Uphill area of Lincoln, a traditional two Bedroom terraced house, within close proximity to Lincoln's Bailgate and Cathedral Quarter. The property has well presented living accommodation comprising of Lounge, Hall, Kitchen/Breakfast Room, First Floor Landing leading to two Bedrooms and a Bathroom. Outside there is an enclosed garden and the property further benefits from an off street parking space. The property is being sold with No Onward Chain and viewing is highly recommended.

**LOCATION** **** The historic Cathedral and University City of Lincoln has the usual High Street shops and department stores, plus banking and allied facilities, multiplex cinema, Marina and Art Gallery. The famous Steep Hill leads to the Uphill area of Lincoln and the Bailgate, with its quaint boutiques and bistros, the Castle, Cathedral and renowned Bishop Grosseteste University.

**LOUNGE** **12' 0" x 10' 11" (3.68m x 3.34m)** With a feature brick fireplace, radiator and double glazed window to the front aspect.

**HALL** **** With staircase to the first floor.

**KITCHEN/BREAKFAST** **ROOM** **12' 1" x 10' 9" (3.70m x 3.28m)** Fitted with a range of wall and base units with works surfaces over, stainless steel sink with side drainer and mixer tap, spaces for cooker, washing machine and fridge freezer, breakfast bar, tiled splashbacks, feature brick fireplace, radiator, double glazed window to the rear aspect and door to the rear garden.

**FIRST** **FLOOR** **LANDING** ****

**BEDROOM** **1** **12' 0" x 10' 10" (3.68m x 3.31m)** With double glazed window to the front aspect, over stairs storage cupboard and radiator.

**BEDROOM** **2** **7' 5" x 6' 7" (2.27m x 2.03m)** With double glazed window to the rear aspect and radiator.

**BATHROOM** **** Fitted with a four piece suite comprising of panelled bath, shower cubicle, pedestal wash hand basin and close coupled WC, radiator, part tiled walls and double glazed window to the rear aspect.

**OUTSIDE** **** To the rear of the property there is an enclosed garden laid mainly to artificial lawn. To the rear of the garden is an off road parking space.

## Property Photos

- ![IMG_9292](/listings/photos/165991256/988580) - IMG_9292
- ![IMG_9287](/listings/photos/165991256/988584) - IMG_9287
- ![IMG_9286](/listings/photos/165991256/988586) - IMG_9286
- ![IMG_9281](/listings/photos/165991256/988588) - IMG_9281
- ![IMG_9282](/listings/photos/165991256/988590) - IMG_9282
- ![IMG_9283](/listings/photos/165991256/988592) - IMG_9283
- ![IMG_9284](/listings/photos/165991256/988595) - IMG_9284
- ![IMG_9290](/listings/photos/165991256/988597) - IMG_9290
- ![IMG_9288](/listings/photos/165991256/988599) - IMG_9288
- ![IMG_9291](/listings/photos/165991256/988601) - IMG_9291

## Floorplans

- ![Floorplan 1](/listings/photos/165991256/988603) - Floorplan 1

## EPC Graphs

- ![EPC Front Page](/listings/photos/165991256/988606) - EPC Front Page

## Sales History

*Recorded sales for this property. Data from Land Registry Price Paid.*

| Address | Price | Date | Type |
|---------|-------|------|------|
| 40 ST NICHOLAS STREET, LINCOLN, LINCOLNSHIRE, LN1 3EQ | £141,000 | 06/02/2026 | Terraced |
| 40 ST NICHOLAS STREET, LINCOLN, LINCOLNSHIRE, LN1 3EQ | £37,000 | 28/05/1999 | Terraced |

## Sold Comparables

*Same street and nearby sales within 0.25 miles. Data from Land Registry Price Paid. Last 5 years.*

| Address | Price | Date | Type |
|---------|-------|------|------|
| 60 WILSON STREET, LINCOLN, LINCOLNSHIRE, LN1 3HY | £165,000 | 16/01/2026 | Terraced |
| 31 WILSON STREET, LINCOLN, LINCOLNSHIRE, LN1 3HZ | £160,000 | 15/12/2025 | Terraced |
| 13 CASTLE STREET, LINCOLN, LINCOLNSHIRE, LN1 3HU | £163,500 | 10/12/2025 | Terraced |
| 7 WILSON STREET, LINCOLN, LINCOLNSHIRE, LN1 3HZ | £195,000 | 05/12/2025 | Terraced |
| 3 CECIL MEWS, LINCOLN, LINCOLNSHIRE, LN1 3AU | £295,000 | 28/11/2025 | Terraced |
| 12 SAXON STREET, LINCOLN, LINCOLNSHIRE, LN1 3HN | £182,000 | 28/11/2025 | Terraced |
| 56 SPITAL STREET, LINCOLN, LINCOLNSHIRE, LN1 3EG | £171,000 | 13/11/2025 | Terraced |
| 74 GRAY STREET, LINCOLN, LINCOLNSHIRE, LN1 3HL | £172,500 | 07/11/2025 | Terraced |
| 29 CASTLE STREET, LINCOLN, LINCOLNSHIRE, LN1 3HU | £117,000 | 20/02/2025 | Terraced |
| 7 KINGSLEY STREET, LINCOLN, LINCOLNSHIRE, LN1 3JN | £180,000 | 16/08/2024 | Terraced |
| 54 GRAY STREET, LINCOLN, LINCOLNSHIRE, LN1 3HL | £187,500 | 01/12/2023 | Terraced |
| 41 WILSON STREET, LINCOLN, LINCOLNSHIRE, LN1 3HZ | £125,000 | 29/11/2023 | Terraced |
| 22 WAKE STREET, LINCOLN, LINCOLNSHIRE, LN1 3HS | £204,000 | 17/11/2023 | Terraced |
| 16 MILDMAY STREET, LINCOLN, LINCOLNSHIRE, LN1 3HR | £225,000 | 12/10/2023 | Terraced |
| 27 MILDMAY STREET, LINCOLN, LINCOLNSHIRE, LN1 3HR | £242,500 | 05/07/2023 | Terraced |
| 37 NEWPORT, LINCOLN, LINCOLNSHIRE, LN1 3DN | £218,000 | 30/06/2023 | Terraced |
| 11 GRAY STREET, LINCOLN, LINCOLNSHIRE, LN1 3HH | £185,000 | 15/06/2023 | Terraced |
| [Same street] 57 ST NICHOLAS STREET, LINCOLN, LINCOLNSHIRE, LN1 3EQ | £155,000 | 12/05/2023 | Semi-detached |
| 72 GRAY STREET, LINCOLN, LINCOLNSHIRE, LN1 3HL | £157,000 | 31/03/2023 | Terraced |
| 48 SPITAL STREET, LINCOLN, LINCOLNSHIRE, LN1 3EG | £160,000 | 21/12/2022 | Terraced |
| 4 HEREWARD STREET, LINCOLN, LINCOLNSHIRE, LN1 3EW | £177,000 | 25/11/2022 | Terraced |
| [Same street] 16 ST NICHOLAS STREET, LINCOLN, LINCOLNSHIRE, LN1 3EQ | £225,000 | 16/11/2022 | Semi-detached |
| [Same street] 29 ST NICHOLAS STREET, LINCOLN, LINCOLNSHIRE, LN1 3EQ | £142,000 | 27/05/2022 | Terraced |
| [Same street] 39 ST NICHOLAS STREET, LINCOLN, LINCOLNSHIRE, LN1 3EQ | £181,000 | 17/11/2021 | Terraced |
| [Same street] 43 ST NICHOLAS STREET, LINCOLN, LINCOLNSHIRE, LN1 3EQ | £130,000 | 27/08/2021 | Terraced |

**Street average:** £166,600 (5 sales)
**Area average:** £184,100 (20 sales)

## Price vs local average

*Outcode + property type (HousePrices, last 2 years).*

- **Local average:** £197,327 (60 Terraced, LN1, 2024–2026)
- **Deviation:** -27.8%

## Rental Range

*ONS Price Index of Private Rents (Lincoln). Low / Realistic / Optimistic = conservative / average / best case.*

- **Low:** £856/mo
- **Realistic:** £951/mo
- **Optimistic:** £1,046/mo

## LHA (Local Housing Allowance)

*VOA 30th percentile rent floor for Lincoln (Apr 2025 – Mar 2026).*

- **LHA floor (this property size):** £598/mo

## Rental Comparables

*Residential lets from OpenRent and Rightmove for the area (same bedroom count). Use to validate rent estimates. Student lets are excluded.*

| Title | Rent | Beds | Distance | As seen on |
|------|------|------|------|------|
| 2 Bed Terraced House, Mercer Drive, LN1 | £975/mo | 2 | 0.71 miles | OpenRent |

**Average rent: £975/mo (1 listing)**

## 1% Rule

- **Rent ratio:** 0.68% (weak for cashflow)
- **Max investor price (0.8%):** £121,875
- **Target investor price (1%):** £97,500

*Monthly rent ÷ price. 1%+ = strong, 0.8–1% = okay, <0.8% = weak. Max investor price = rent ÷ 0.8% (Stoke-style target). Target investor price = rent ÷ 1% (strong cashflow band). Based on OpenRent comparables.*

## Rent-driven metrics

*Based on OpenRent comparables (median £975/mo).*

- **Gross yield:** 8.2%
- **Cost-to-rent:** 12.2×
- **Monthly cashflow:** £291/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term)
- **Cash-on-cash ROI:** 8.5%

*Gross yield = annual rent as % of price (no costs). Cost-to-rent = price ÷ annual rent (from OpenRent comparables); under 14× = strong, 14–16× = acceptable, 17×+ = compressed. Cashflow = rent − mortgage − 10% maintenance − £25/mo compliance; assumes 75% LTV, 3.95% APR (5yr fixed), 25yr term. ROI = annual profit ÷ cash in (deposit + 4% purchase costs).*

## Capital growth trend

*Land Registry outcode average from sold prices: last 12 months vs 5y and 10y ago.*

- **5y growth:** -9.8%
- **10y growth:** 1.7%

## House Price Index (HM Land Registry)

*Official index for Lincoln; Terraced series; as of April 2026.*

- **1y growth (index):** 0.1%
- **5y growth (index):** 13.9%
- **10y growth (index):** 42.4%

## Flood risk

- **Zone:** 1
- **Risk:** Low
- **Source:** Job (default Low)

[Check long-term flood risk (GOV.UK)](https://check-long-term-flood-risk.service.gov.uk/postcode)

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Property details

Tenure

FREEHOLD

Council tax band

Last sold

£141,000 Feb 2026

Local average

£197,327 (-27.8%)

Deprivation

Decile 4 (10,710 of 33,755)

Street crime

4 incidents within 1 mile (May 2026)

Key features

2 Bedroom Terraced House
Lounge, Kitchen/Breakfast Room
2 Bedrooms, First Floor Bathroom
Enclosed Rear Garden
Off Street Parking Space
NO CHAIN
EPC Energy Rating - D
Council Tax Band - A (Lincoln City Council)

Additional details

Electricity: Mains supply
Water: Mains supply
Sewerage: Mains supply
Heating: Gas central
Parking: Off street
Garden: Yes

Description

** Situated in the Uphill area of Lincoln, a traditional two Bedroom terraced house, within close proximity to Lincoln's Bailgate and Cathedral Quarter. The property has well presented living accommodation comprising of Lounge, Hall, Kitchen/Breakfast Room, First Floor Landing leading to two Bedrooms and a Bathroom. Outside there is an enclosed garden and the property further benefits from an off street parking space. The property is being sold with No Onward Chain and viewing is highly recommended.

LOCATION The historic Cathedral and University City of Lincoln has the usual High Street shops and department stores, plus banking and allied facilities, multiplex cinema, Marina and Art Gallery. The famous Steep Hill leads to the Uphill area of Lincoln and the Bailgate, with its quaint boutiques and bistros, the Castle, Cathedral and renowned Bishop Grosseteste University.

LOUNGE 12' 0" x 10' 11" (3.68m x 3.34m) With a feature brick fireplace, radiator and double glazed window to the front aspect.

HALL With staircase to the first floor.

KITCHEN/BREAKFAST ROOM 12' 1" x 10' 9" (3.70m x 3.28m) Fitted with a range of wall and base units with works surfaces over, stainless steel sink with side drainer and mixer tap, spaces for cooker, washing machine and fridge freezer, breakfast bar, tiled splashbacks, feature brick fireplace, radiator, double glazed window to the rear aspect and door to the rear garden.

FIRST FLOOR LANDING

BEDROOM 1 12' 0" x 10' 10" (3.68m x 3.31m) With double glazed window to the front aspect, over stairs storage cupboard and radiator.

BEDROOM 2 7' 5" x 6' 7" (2.27m x 2.03m) With double glazed window to the rear aspect and radiator.

BATHROOM Fitted with a four piece suite comprising of panelled bath, shower cubicle, pedestal wash hand basin and close coupled WC, radiator, part tiled walls and double glazed window to the rear aspect.

OUTSIDE ** To the rear of the property there is an enclosed garden laid mainly to artificial lawn. To the rear of the garden is an off road parking space.

Listed by

Lincoln

Mundys

Reference: 165991256

EPC Rating & Upgrade Cost

Fetching EPC data… Refresh this page in a moment.

Flood risk

Zone: 1

Risk: Low

Job (default Low)

Floorplans

Floorplan 1

EPC Graphs

EPC Front Page

Price history

281% since 1999

Event	Date	Price	% change
Sold	06/02/2026 (5 months ago)	£141,000	+281.1%
Sold	28/05/1999 (27 years ago)	£37,000	—

Source: HM Land Registry Price Paid Data. Crown copyright.

Sold Comparables

Same street and nearby sales within 0.25 miles (last 5 years). Data from Land Registry Price Paid.

Address	Price	Date	Type
60 WILSON STREET, LINCOLN, LINCOLNSHIRE, LN1 3HY	£165,000	16/01/2026	Terraced
31 WILSON STREET, LINCOLN, LINCOLNSHIRE, LN1 3HZ	£160,000	15/12/2025	Terraced
13 CASTLE STREET, LINCOLN, LINCOLNSHIRE, LN1 3HU	£163,500	10/12/2025	Terraced
7 WILSON STREET, LINCOLN, LINCOLNSHIRE, LN1 3HZ	£195,000	05/12/2025	Terraced
3 CECIL MEWS, LINCOLN, LINCOLNSHIRE, LN1 3AU	£295,000	28/11/2025	Terraced
12 SAXON STREET, LINCOLN, LINCOLNSHIRE, LN1 3HN	£182,000	28/11/2025	Terraced
56 SPITAL STREET, LINCOLN, LINCOLNSHIRE, LN1 3EG	£171,000	13/11/2025	Terraced
74 GRAY STREET, LINCOLN, LINCOLNSHIRE, LN1 3HL	£172,500	07/11/2025	Terraced
29 CASTLE STREET, LINCOLN, LINCOLNSHIRE, LN1 3HU	£117,000	20/02/2025	Terraced
7 KINGSLEY STREET, LINCOLN, LINCOLNSHIRE, LN1 3JN	£180,000	16/08/2024	Terraced
54 GRAY STREET, LINCOLN, LINCOLNSHIRE, LN1 3HL	£187,500	01/12/2023	Terraced
41 WILSON STREET, LINCOLN, LINCOLNSHIRE, LN1 3HZ	£125,000	29/11/2023	Terraced
22 WAKE STREET, LINCOLN, LINCOLNSHIRE, LN1 3HS	£204,000	17/11/2023	Terraced
16 MILDMAY STREET, LINCOLN, LINCOLNSHIRE, LN1 3HR	£225,000	12/10/2023	Terraced
27 MILDMAY STREET, LINCOLN, LINCOLNSHIRE, LN1 3HR	£242,500	05/07/2023	Terraced
37 NEWPORT, LINCOLN, LINCOLNSHIRE, LN1 3DN	£218,000	30/06/2023	Terraced
11 GRAY STREET, LINCOLN, LINCOLNSHIRE, LN1 3HH	£185,000	15/06/2023	Terraced
Same street 57 ST NICHOLAS STREET, LINCOLN, LINCOLNSHIRE, LN1 3EQ	£155,000	12/05/2023	Semi-detached
72 GRAY STREET, LINCOLN, LINCOLNSHIRE, LN1 3HL	£157,000	31/03/2023	Terraced
48 SPITAL STREET, LINCOLN, LINCOLNSHIRE, LN1 3EG	£160,000	21/12/2022	Terraced
4 HEREWARD STREET, LINCOLN, LINCOLNSHIRE, LN1 3EW	£177,000	25/11/2022	Terraced
Same street 16 ST NICHOLAS STREET, LINCOLN, LINCOLNSHIRE, LN1 3EQ	£225,000	16/11/2022	Semi-detached
Same street 29 ST NICHOLAS STREET, LINCOLN, LINCOLNSHIRE, LN1 3EQ	£142,000	27/05/2022	Terraced
Same street 39 ST NICHOLAS STREET, LINCOLN, LINCOLNSHIRE, LN1 3EQ	£181,000	17/11/2021	Terraced
Same street 43 ST NICHOLAS STREET, LINCOLN, LINCOLNSHIRE, LN1 3EQ	£130,000	27/08/2021	Terraced

Street average: £166,600 (5 sales)

Area average: £184,100 (20 sales)

Capital growth trend

Land Registry outcode average: last 12 months vs 5y and 10y ago (from sold prices).

5y growth -9.8%

10y growth 1.7%

House Price Index (HM Land Registry — official index, not sold-price averages): Lincoln. Series: Terraced. As of April 2026.

1y (index) 0.1%

5y (index) 13.9%

10y (index) 42.4%

Rental Range

Estimated market rent for Lincoln. Low = conservative, Realistic = average, Optimistic = best case.

Low £856/mo

Realistic £951/mo

Optimistic £1,046/mo

Based on Local Authority from postcode lookup → Lincoln.

LHA (30th percentile) floor for Lincoln: £598/mo (Apr 2025 – Mar 2026)

Location

Map view View on Google Maps View on OpenStreetMap Street View LN1 3EQ

Nearby

Nearest stations, universities and amenities (distance from property).

Type	Name	Distance
Bus stop	Mount Street School	0.1 miles
Shop	Happy Soles	0.2 miles
Shop	YMCA	0.2 miles
University	Lincoln Bishop University	0.4 miles
Hospital	St Georges Hospital	0.7 miles
Train station	Lincoln	1.0 miles
University	University of Lincoln - Brayford Campus	1.0 miles
Hospital	Lincoln County Hospital	1.0 miles
Train station	Hykeham	4.0 miles

Street-level crime

Category	Count
Violence and sexual offences	4
Total incidents	4

Within 1 mile during May 2026. Source: data.police.uk (England & Wales).

Schools nearby

Nearest open schools with Ofsted ratings (England). Closed schools are not shown. Data from Get Information about Schools and Ofsted.

Name	Type	Distance	Ofsted
Mount Street Academy	Primary	0.2 miles	— (Inspected (no overall grade))
Westgate Academy	Primary	0.2 miles	Good — 14 Jul 2016
Bishop Grosseteste University	Other	0.3 miles	— (No rating)
Lincoln Castle Academy	Secondary	0.5 miles	Inadequate — 21 Sep 2022
The Lincoln St Peter-in-Eastgate Church of England (Controlled) Infants School	Primary	0.5 miles	Requires improvement — 29 Jan 2023

Rental Comparables

Residential lets from OpenRent and Rightmove for the area (same bedroom count). Use to validate rent estimates. Student lets are excluded.

Title	Rent	Beds	Distance	As seen on
2 Bed Terraced House, Mercer Drive, LN1	£975/mo	2	0.71 miles	OpenRent

Average rent: £975/mo (1 listing)

Rent-driven metrics

Based on OpenRent comparables.

Rent ratio 0.68%

Max investor price (0.8%) £121,875

Target investor price (1%) £97,500

Gross yield 8.2%

Cost-to-rent ratio 12.2×

Monthly cashflow £291/mo 75% LTV, 3.95% APR (5yr fixed), 25yr term

Cash-on-cash ROI 8.5%

Rent ratio — Monthly rent ÷ purchase price (1% rule). 1%+ = strong, 0.8–1% = okay, <0.8% = weak for cashflow.
Max investor price — Rent ÷ 0.8%; the price at which rent would be 0.8% of price (Stoke-style target).
Target investor price — Rent ÷ 1%; the price at which rent would be 1% of price (strong cashflow band).
Gross yield — Annual rent as % of purchase price (no costs).
Cost-to-rent — Price ÷ annual rent (from OpenRent comparables). Under 14× = strong, 14–16× = acceptable, 17×+ = compressed.
Cashflow — Rent minus mortgage, 10% maintenance, £25/mo compliance. Assumes 75% LTV, 3.95% APR (5yr fixed), 25yr term.
ROI — Annual profit ÷ cash in (deposit + 4% purchase costs).