# 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)