Sold STC Detached

12 WELLS DRIVE

MARKET RASEN, LINCOLNSHIRE LN8 3EF

3 beds 1 baths 764 sq ft Listed 25 Sep 2024 (-628d)

£230,000

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# 3 bedroom detached bungalow for sale (LN8 3EF)

## Property Details

| Key | Value |
|-----|-------|
| Address | 12 WELLS DRIVE, MARKET RASEN, LINCOLNSHIRE LN8 3EF |
| Price | £230,000 |
| Bedrooms | 3 |
| Bathrooms | 1 |
| Council tax | C |
| Construction age | England and Wales: 1996-2002 |
| Floor area | 71 m² |
| Last sold | £205,000 Dec 2024 |

## EPC Rating & Upgrade Cost

- **Current rating:** D
- **Potential rating:** B
- **Expiry date:** 28/02/2029
- **Current heating cost:** £511/year
- **Est. upgrade cost to C:** £19,120

### Recommendations
- W2 (£4,000 - £6,000)
- E (£20)
- I (£2,200 - £3,000)
- N (£4,000 - £6,000)
- U (£5,000 - £8,000)

[View full EPC on gov.uk](https://find-energy-certificate.service.gov.uk/energy-certificate/8671-7027-6130-3359-9902)

## Description

**** **** A three bedroom detached bungalow situated in a quote cul-de-sac location within easy access into Market Rasen Town Centre with its local shops and facilities.  The property has low maintenance gardens to the front and rear of the property with a driveway to the side providing off street parking which also gives access to a detached single garage. Internally the property offers living accommodation briefly comprising of Porch, Inner Hallway, Lounge, Kitchen Diner, three Bedrooms and a Bathroom. The property is also well located for easy access into Lincoln and Louth.  Viewing of the property is highly recommended.

**LOCATION** **** Market Rasen is a thriving Market Town situated on the edge of the Lincolnshire Wolds with the added benefit of a train station and bus services providing regular links to larger Towns and City networks. The Town is renowned for its Golf Course and Racecourse and also has a wonderful range of local independent retail outlets, regular markets in the cobbled market square, various restaurants, boutique hotel and guest houses, public houses, library, health care providers and good local schooling; Primary Schooling - Market Rasen C of E Primary (Ofsted Graded 'Good'), Secondary Schooling - De Aston School (Ofsted Graded 'Good').

**PORCH** **** With UPVC double glazed external door.

**LOUNGE** **14' 1" x 11' 11" (4.29m x 3.63m)** With UPVC double glazed window and radiator.

**KITCHEN** **14' 1" x 8' 10" (4.29m x 2.69m)** With UPVC double glazed window and external door, laminate flooring, fitted with a range of wall and base units with work surfaces over and tiled splashback, spaces for free standing cooker and fridge, stainless steel sink with drainer and radiator.

**INNER** **HALLWAY** **** With storage cupboard and air cupboard housing the hot water cylinder.

**BEDROOM** **1** **12' 10" x 12' 10" (3.91m x 3.91m)** With UPVC double glazed window, built-in wardrobe and radiator.

**BEDROOM** **2** **10' 11" x 8' 6" (3.33m x 2.59m)** With UPVC double glazed window and radiator.

**BEDROOM** **3** **8' 10" x 7' 7" (2.69m x 2.31m)** With UPVC double glazed window and radiator.

**BATHROOM** **8' 6" x 5' 7" (2.59m x 1.7m)** With UPVC double glazed window, laminate flooring, low level WC, wash hand basin, bath with shower over, part tiled walls and radiator.

**OUTSIDE** **** To the front of the property there is a decorative slated garden with a shrub and a driveway to the side providing off street parking which also gives access to the detached single garage.  There is a gate leading to the rear of the property with further decorative slated gardens with a variety of plants and shrubs and a garden shed which leads to a wood chip area with a further range of plants and shrubs and a seating area.

**SINGLE** **GARAGE** **** With door, power and lighting.

## Property Photos

- ![1](/listings/photos/152967248/262313) - 1
- ![IMG_4284](/listings/photos/152967248/262314) - IMG_4284
- ![IMG_4277](/listings/photos/152967248/262315) - IMG_4277
- ![IMG_4286](/listings/photos/152967248/262316) - IMG_4286
- ![IMG_4282](/listings/photos/152967248/262317) - IMG_4282
- ![IMG_4281](/listings/photos/152967248/262318) - IMG_4281
- ![IMG_4279](/listings/photos/152967248/262319) - IMG_4279
- ![IMG_4283](/listings/photos/152967248/262320) - IMG_4283
- ![IMG_2448](/listings/photos/152967248/262321) - IMG_2448
- ![IMG_2449](/listings/photos/152967248/262322) - IMG_2449
- ![IMG_2447](/listings/photos/152967248/262323) - IMG_2447

## Floorplans

- ![Floorplan 1](/listings/photos/152967248/262324) - Floorplan 1

## EPC Graphs

- ![EPC Front Page](/listings/photos/152967248/262325) - EPC Front Page

## FENSA Certificates

This property has 1 FENSA certificate(s) on record.

### FENSA Certificate #16754726
- **Address:** 12 Wells Drive, MARKET RASEN, LN8 3EF
- **Certificate Issued:** 17/04/2025
- **Work Completed:** 28/03/2025
- **Items:** 10 window(s), 2 door(s)

## Sales History

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

| Address | Price | Date | Type |
|---------|-------|------|------|
| 12 WELLS DRIVE, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EF | £205,000 | 12/12/2024 | Detached |
| 12 WELLS DRIVE, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EF | £182,500 | 04/06/2019 | Detached |

## Sold Comparables

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

| Address | Price | Date | Type |
|---------|-------|------|------|
| COTTESMORE LEGSBY ROAD, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3DY | £317,500 | 10/02/2025 | Detached |
| [Same street] 16 WELLS DRIVE, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EF | £183,000 | 03/03/2023 | Detached |
| 22 THE RIDINGS, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EE | £215,000 | 04/11/2022 | Detached |
| 9 HORSESHOE WAY, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3FN | £277,500 | 18/10/2022 | Detached |
| 7A HORSESHOE WAY, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3FN | £250,000 | 13/07/2022 | Detached |
| LYNDALE LEGSBY ROAD, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3DY | £385,000 | 16/06/2022 | Detached |
| 39 THE RIDINGS, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EE | £279,950 | 27/05/2022 | Detached |
| 38 THE RIDINGS, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EE | £230,000 | 04/03/2022 | Detached |
| 4 SADDLERS WAY, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3FP | £265,000 | 03/02/2022 | Detached |
| 45 THE RIDINGS, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EE | £273,000 | 15/12/2021 | Detached |
| [Same street] TEMPLECOMBE, 9 WELLS DRIVE, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EF | £285,000 | 29/11/2021 | Detached |
| 3 JAMES COURT, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3DU | £200,000 | 01/09/2021 | Detached |
| 17 THE RIDINGS, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EE | £275,000 | 24/08/2021 | Detached |
| [Same street] 1 WELLS DRIVE, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EF | £195,000 | 16/08/2021 | Detached |

**Street average:** £221,000 (3 sales)
**Area average:** £269,814 (11 sales)

## Price vs local average

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

- **Local average:** £314,054 (41 Detached, LN8, 2024–2026)
- **Deviation:** -26.8%

## Rental Range

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

- **Low:** £642/mo
- **Realistic:** £713/mo
- **Optimistic:** £784/mo

## LHA (Local Housing Allowance)

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

- **LHA floor (this property size):** £673/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 |
|------|------|------|------|------|
| 3 Bed Terraced House, Poppy's Row, LN8 | £2,150/mo | 3 | 0.42 miles | OpenRent |

**Average rent: £2,150/mo (1 listing)**

## 1% Rule

- **Rent ratio:** 0.93% (okay)
- **Max investor price (0.8%):** £268,750
- **Target investor price (1%):** £215,000

*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 £2,150/mo).*

- **Gross yield:** 11.2%
- **Cost-to-rent:** 8.9×
- **Monthly cashflow:** £1,004/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term)
- **Cash-on-cash ROI:** 18.1%

*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).*

## Price per Square Metre

- **£/m²:** £3,239/m²

## Capital growth trend

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

- **5y growth:** -2.9%
- **10y growth:** 64.4%

## House Price Index (HM Land Registry)

*Official index for West Lindsey; Detached series; as of March 2026.*

- **1y growth (index):** 1.6%
- **5y growth (index):** 11.1%
- **10y growth (index):** 41.1%

## 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

Floor area

71 m²

Council tax band

EPC rating

Year built

England and Wales: 1996-2002

Last sold

£205,000 Dec 2024

Price per m²

£3,239/m²

Local average

£314,054 (-26.8%)

Deprivation

Decile 6 (19,256 of 33,755)

Street crime

48 incidents within 1 mile (Apr 2026)

Key features

Quiet Cul-De-Sac Location
Close to the Town Centre and Local Amenities
Good Access to Louth & Lincoln
Low Maintenance Rear Garden
Driveway & Detached Garage
Three Bedrooms & Bathroom
Lounge & Kitchen Diner
EPC Energy Rating - D
Council Tax Band - C

Additional details

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

Description

** A three bedroom detached bungalow situated in a quote cul-de-sac location within easy access into Market Rasen Town Centre with its local shops and facilities. The property has low maintenance gardens to the front and rear of the property with a driveway to the side providing off street parking which also gives access to a detached single garage. Internally the property offers living accommodation briefly comprising of Porch, Inner Hallway, Lounge, Kitchen Diner, three Bedrooms and a Bathroom. The property is also well located for easy access into Lincoln and Louth. Viewing of the property is highly recommended.

LOCATION Market Rasen is a thriving Market Town situated on the edge of the Lincolnshire Wolds with the added benefit of a train station and bus services providing regular links to larger Towns and City networks. The Town is renowned for its Golf Course and Racecourse and also has a wonderful range of local independent retail outlets, regular markets in the cobbled market square, various restaurants, boutique hotel and guest houses, public houses, library, health care providers and good local schooling; Primary Schooling - Market Rasen C of E Primary (Ofsted Graded 'Good'), Secondary Schooling - De Aston School (Ofsted Graded 'Good').

PORCH With UPVC double glazed external door.

LOUNGE 14' 1" x 11' 11" (4.29m x 3.63m) With UPVC double glazed window and radiator.

KITCHEN 14' 1" x 8' 10" (4.29m x 2.69m) With UPVC double glazed window and external door, laminate flooring, fitted with a range of wall and base units with work surfaces over and tiled splashback, spaces for free standing cooker and fridge, stainless steel sink with drainer and radiator.

INNER HALLWAY With storage cupboard and air cupboard housing the hot water cylinder.

BEDROOM 1 12' 10" x 12' 10" (3.91m x 3.91m) With UPVC double glazed window, built-in wardrobe and radiator.

BEDROOM 2 10' 11" x 8' 6" (3.33m x 2.59m) With UPVC double glazed window and radiator.

BEDROOM 3 8' 10" x 7' 7" (2.69m x 2.31m) With UPVC double glazed window and radiator.

BATHROOM 8' 6" x 5' 7" (2.59m x 1.7m) With UPVC double glazed window, laminate flooring, low level WC, wash hand basin, bath with shower over, part tiled walls and radiator.

OUTSIDE To the front of the property there is a decorative slated garden with a shrub and a driveway to the side providing off street parking which also gives access to the detached single garage. There is a gate leading to the rear of the property with further decorative slated gardens with a variety of plants and shrubs and a garden shed which leads to a wood chip area with a further range of plants and shrubs and a seating area.

SINGLE GARAGE ** With door, power and lighting.

Listed by

Market Rasen

Mundys

Reference: 152967248

EPC Rating & Upgrade Cost

Current rating: D

Potential rating: B

Inspection date: 01/03/2019

Expiry date: 28/02/2029

Current heating cost: £511/year

Potential heating cost: £421/year

Est. upgrade cost to C: £19,120

EPC D or below may face future regulation risk. Upgrading to C could improve long-term ROI.

Recommendations

Floor insulation (solid floor) (£4,000 - £6,000)
Low energy lighting for all fixed outlets (£20)
Replace boiler with new condensing boiler (£2,200 - £3,000)
Solar water heating (£4,000 - £6,000)
Solar photovoltaic panels, 2.5 kWp (£5,000 - £8,000)

View full EPC on gov.uk

Flood risk

Zone: 1

Risk: Low

Job (default Low)

Floorplans

Floorplan 1

EPC Graphs

EPC Front Page

FENSA Certificates

This property has 1 FENSA certificate(s) on record, indicating window/door installations by FENSA-approved installers.

FENSA Certificate #16754726 Recent

Property Details

Street: 12 Wells Drive

Town: MARKET RASEN

Postcode: LN8 3EF

Installation Details

Items: 10 windows and 2 doors

Certificate Issued: 17/04/2025

Work Completed: 28/03/2025

This certificate data was retrieved from FENSA's database

What is FENSA? FENSA (Fenestration Self-Assessment Scheme) is a government-authorised scheme that monitors building regulation compliance for replacement windows and doors. Certificates indicate that work was completed by FENSA-approved installers.

Price history

12% since 2019

Event	Date	Price	% change
Sold	12/12/2024 (1 year ago)	£205,000	+12.3%
Sold	04/06/2019 (7 years ago)	£182,500	—

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
COTTESMORE LEGSBY ROAD, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3DY	£317,500	10/02/2025	Detached
Same street 16 WELLS DRIVE, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EF	£183,000	03/03/2023	Detached
22 THE RIDINGS, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EE	£215,000	04/11/2022	Detached
9 HORSESHOE WAY, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3FN	£277,500	18/10/2022	Detached
7A HORSESHOE WAY, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3FN	£250,000	13/07/2022	Detached
LYNDALE LEGSBY ROAD, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3DY	£385,000	16/06/2022	Detached
39 THE RIDINGS, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EE	£279,950	27/05/2022	Detached
38 THE RIDINGS, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EE	£230,000	04/03/2022	Detached
4 SADDLERS WAY, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3FP	£265,000	03/02/2022	Detached
45 THE RIDINGS, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EE	£273,000	15/12/2021	Detached
Same street TEMPLECOMBE, 9 WELLS DRIVE, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EF	£285,000	29/11/2021	Detached
3 JAMES COURT, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3DU	£200,000	01/09/2021	Detached
17 THE RIDINGS, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EE	£275,000	24/08/2021	Detached
Same street 1 WELLS DRIVE, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 3EF	£195,000	16/08/2021	Detached

Street average: £221,000 (3 sales)

Area average: £269,814 (11 sales)

Capital growth trend

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

5y growth -2.9%

10y growth 64.4%

House Price Index (HM Land Registry — official index, not sold-price averages): West Lindsey. Series: Detached. As of March 2026.

1y (index) 1.6%

5y (index) 11.1%

10y (index) 41.1%

Rental Range

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

Low £642/mo

Realistic £713/mo

Optimistic £784/mo

Based on Local Authority from postcode lookup → West Lindsey.

LHA (30th percentile) floor for Lincoln: £673/mo (Apr 2025 – Mar 2026)

Location

Map view View on Google Maps View on OpenStreetMap Street View LN8 3EF

Nearby

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

Type	Name	Distance
Bus stop	The Ridings	0.1 miles
Shop	Tesco	0.4 miles
Train station	Market Rasen	0.5 miles
Shop	Peter Rhodes (Euronics)	0.5 miles
University	University of Lincoln - Riseholme Campus	11.3 miles

Street-level crime

Category	Count
Violence and sexual offences	13
Anti-social behaviour	12
Public order	7
Shoplifting	6
Criminal damage and arson	5
Other theft	2
Vehicle crime	2
Other crime	1
Total incidents	48

Within 1 mile during Apr 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
De Aston School	Secondary	0.2 miles	Good — 28 Feb 2013
The Market Rasen Church of England Primary School	Primary	0.6 miles	Good — 3 Dec 2013
The Middle Rasen Primary School	Primary	1.8 miles	Good — 15 Nov 2014
Legsby Primary School	Primary	2.2 miles	Good — 26 Sep 2023
Tealby School	Primary	3.1 miles	Good — 23 Jun 2020

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
3 Bed Terraced House, Poppy's Row, LN8	£2,150/mo	3	0.42 miles	OpenRent

Average rent: £2,150/mo (1 listing)

Rent-driven metrics

Based on OpenRent comparables.

Rent ratio 0.93%

Max investor price (0.8%) £268,750

Target investor price (1%) £215,000

Gross yield 11.2%

Cost-to-rent ratio 8.9×

Monthly cashflow £1,004/mo 75% LTV, 3.95% APR (5yr fixed), 25yr term

Cash-on-cash ROI 18.1%

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).