Sold STC Terraced

37 DRAKE STREET

LINCOLN, LINCOLNSHIRE LN1 1PP

3 beds 1 baths 861 sq ft Listed 1 Aug 2025 (-313d)

£155,000

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# 3 bedroom terraced house for sale (LN1 1PP)

## Property Details

| Key | Value |
|-----|-------|
| Address | 37 DRAKE STREET, LINCOLN, LINCOLNSHIRE LN1 1PP |
| Price | £155,000 |
| Bedrooms | 3 |
| Bathrooms | 1 |
| Construction age | England and Wales: 1900-1929 |
| Floor area | 80 m² |
| Last sold | £120,000 Jul 2015 |

## EPC Rating & Upgrade Cost

- **Current rating:** D
- **Potential rating:** B
- **Current heating cost:** £773/year

### Recommendations
- A (350)
- Q (14,000)
- W2 (6,000)
- N (6,000)
- U (8,000)

[View full EPC on gov.uk](https://find-energy-certificate.service.gov.uk/energy-certificate/8533-6422-5159-9219-1992)

## Description

PERFECT HOME OR INVESTMENT PROPERTY!

Located within the popular west end area of Lincoln, within walking distance of the city centre, Brayford Pool and The University of Lincoln is this bay fronted town house on Drake Street. The property has most recently been utilised as a house of multiple occupancy however would also be suitable as a first home. Accommodation briefly comprises entrance lobby, lounge with bay window (also suitable as a ground floor bedroom), separate dining room, 10'2 kitchen, rear lobby, spacious ground floor bathroom and three well proportioned bedrooms. Outside the property has a south facing courtyard garden with useful brick built outbuilding. The property is being offered for sale with NO CHAIN.

## Property Photos

- ![Photo 12](/listings/photos/165242402/451191) - Photo 12
- ![Photo 6](/listings/photos/165242402/451192) - Photo 6
- ![Photo 5](/listings/photos/165242402/451193) - Photo 5
- ![Photo 4](/listings/photos/165242402/451194) - Photo 4
- ![Photo 3](/listings/photos/165242402/451196) - Photo 3
- ![Photo 7](/listings/photos/165242402/451198) - Photo 7
- ![Photo 8](/listings/photos/165242402/451199) - Photo 8
- ![Photo 9](/listings/photos/165242402/451201) - Photo 9
- ![Photo 10](/listings/photos/165242402/451202) - Photo 10
- ![Photo 1](/listings/photos/165242402/451204) - Photo 1
- ![Photo 2](/listings/photos/165242402/451206) - Photo 2
- ![Photo 11](/listings/photos/165242402/451207) - Photo 11

## Floorplans

- ![Floorplan 1](/listings/photos/165242402/451208) - Floorplan 1

## Sales History

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

| Address | Price | Date | Type |
|---------|-------|------|------|
| 37 DRAKE STREET, LINCOLN, LINCOLNSHIRE, LN1 1PP | £120,000 | 10/07/2015 | Terraced |
| 37 DRAKE STREET, LINCOLN, LINCOLNSHIRE, LN1 1PP | £41,000 | 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 |
|---------|-------|------|------|
| 108 CARHOLME ROAD, LINCOLN, LINCOLNSHIRE, LN1 1SP | £105,000 | 16/12/2025 | Terraced |
| 170 CARHOLME ROAD, LINCOLN, LINCOLNSHIRE, LN1 1SE | £158,000 | 10/12/2025 | Terraced |
| 103 NEWLAND STREET WEST, LINCOLN, LINCOLNSHIRE, LN1 1QD | £215,000 | 28/11/2025 | Terraced |
| 40 MOOR STREET, LINCOLN, LINCOLNSHIRE, LN1 1PR | £180,000 | 21/11/2025 | Terraced |
| [Same street] 3 DRAKE STREET, LINCOLN, LINCOLNSHIRE, LN1 1PP | £248,110 | 16/07/2025 | Terraced |
| 72 ROMAN WHARF, LINCOLN, LINCOLNSHIRE, LN1 1SR | £174,500 | 28/02/2025 | Terraced |
| 13 TENNYSON STREET, LINCOLN, LINCOLNSHIRE, LN1 1LZ | £280,000 | 12/10/2023 | Terraced |
| 29 SEVERN STREET, LINCOLN, LINCOLNSHIRE, LN1 1SJ | £195,000 | 12/10/2023 | Terraced |
| 22 HEWSON ROAD, LINCOLN, LINCOLNSHIRE, LN1 1RX | £335,000 | 12/05/2023 | Terraced |
| 95 NEWLAND STREET WEST, LINCOLN, LINCOLNSHIRE, LN1 1QD | £135,000 | 06/04/2023 | Terraced |
| 7 ALLISON STREET, LINCOLN, LINCOLNSHIRE, LN1 1PX | £135,000 | 06/04/2023 | Terraced |
| 3 ALLISON STREET, LINCOLN, LINCOLNSHIRE, LN1 1PX | £135,000 | 06/04/2023 | Terraced |
| 127 NEWLAND STREET WEST, LINCOLN, LINCOLNSHIRE, LN1 1QD | £120,000 | 05/04/2023 | Terraced |
| 18 WELLINGTON STREET, LINCOLN, LINCOLNSHIRE, LN1 1PN | £172,500 | 05/04/2023 | Terraced |
| [Same street] 1 DRAKE STREET, LINCOLN, LINCOLNSHIRE, LN1 1PP | £211,000 | 16/01/2023 | Semi-detached |
| 3 MOOR STREET, LINCOLN, LINCOLNSHIRE, LN1 1PW | £205,000 | 28/11/2022 | Terraced |
| 73 IRIS CRESCENT, LINCOLN, LINCOLNSHIRE, LN1 1BD | £301,000 | 22/11/2022 | Terraced |
| 286 WEST PARADE, LINCOLN, LINCOLNSHIRE, LN1 1NB | £350,000 | 07/11/2022 | Terraced |
| 9 IRIS CRESCENT, LINCOLN, LINCOLNSHIRE, LN1 1BD | £227,000 | 14/10/2022 | Terraced |
| [Same street] 36 DRAKE STREET, LINCOLN, LINCOLNSHIRE, LN1 1PP | £155,000 | 12/10/2022 | Terraced |
| 87 NEWLAND STREET WEST, LINCOLN, LINCOLNSHIRE, LN1 1QF | £205,000 | 10/10/2022 | Terraced |
| 26 ALLISON STREET, LINCOLN, LINCOLNSHIRE, LN1 1PX | £170,000 | 23/09/2022 | Terraced |
| 101 CARHOLME ROAD, LINCOLN, LINCOLNSHIRE, LN1 1RT | £240,000 | 22/09/2022 | Terraced |
| [Same street] 49 DRAKE STREET, LINCOLN, LINCOLNSHIRE, LN1 1PP | £226,000 | 05/09/2022 | Semi-detached |
| [Same street] 35 DRAKE STREET, LINCOLN, LINCOLNSHIRE, LN1 1PP | £221,036 | 17/06/2022 | Terraced |

**Street average:** £212,229 (5 sales)
**Area average:** £201,900 (20 sales)

## Price vs local average

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

- **Local average:** £198,304 (58 Terraced, LN1, 2024–2026)
- **Deviation:** -21.8%

## Rental Range

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

- **Low:** £855/mo
- **Realistic:** £950/mo
- **Optimistic:** £1,045/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 Flat, Princess Street, LN5 | £995/mo | 3 | 0.93 miles | OpenRent |

**Average rent: £995/mo (1 listing)**

## 1% Rule

- **Rent ratio:** 0.64% (weak for cashflow)
- **Max investor price (0.8%):** £124,375
- **Target investor price (1%):** £99,500

*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 £995/mo).*

- **Gross yield:** 7.7%
- **Cost-to-rent:** 13×
- **Monthly cashflow:** £260/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term)
- **Cash-on-cash ROI:** 6.9%

*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:** £1,938/m²

## Capital growth trend

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

- **5y growth:** -1.1%
- **10y growth:** -1%

## House Price Index (HM Land Registry)

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

- **1y growth (index):** 0.9%
- **5y growth (index):** 16.8%
- **10y growth (index):** 41.3%

## 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)

Photo 12 Photo 6 Photo 5 Photo 4 Photo 3 Photo 7 Photo 8 Photo 9 Photo 10 Photo 1 Photo 2 Photo 11

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Property details

Tenure

FREEHOLD

Floor area

80 m²

EPC rating

Year built

England and Wales: 1900-1929

Last sold

£120,000 Jul 2015

Price per m²

£1,938/m²

Local average

£198,304 (-21.8%)

Deprivation

Decile 6 (17,923 of 33,755)

Street crime

485 incidents within 1 mile (Apr 2026)

Key features

Bay fronted town house
Popular west end location
Walking distance to city centre and university
3 bedrooms
2 reception rooms
Rear Courtyard with outbuilding
NO CHAIN!
Call today to view

Additional details

Garden: Yes

Description

PERFECT HOME OR INVESTMENT PROPERTY!
Located within the popular west end area of Lincoln, within walking distance of the city centre, Brayford Pool and The University of Lincoln is this bay fronted town house on Drake Street. The property has most recently been utilised as a house of multiple occupancy however would also be suitable as a first home. Accommodation briefly comprises entrance lobby, lounge with bay window (also suitable as a ground floor bedroom), separate dining room, 10'2 kitchen, rear lobby, spacious ground floor bathroom and three well proportioned bedrooms. Outside the property has a south facing courtyard garden with useful brick built outbuilding. The property is being offered for sale with NO CHAIN.

Listed by

Lincoln

Starkey & Brown

Reference: 165242402

EPC Rating & Upgrade Cost

Current rating: D

Potential rating: B

Inspection date: 11/12/2017

Current heating cost: £773/year

Potential heating cost: £464/year

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

Recommendations

Increase loft insulation to 270 mm (350)
50 mm internal or external wall insulation (14,000)
Floor insulation (solid floor) (6,000)
Solar water heating (6,000)
Solar photovoltaic panels, 2.5 kWp (8,000)

View full EPC on gov.uk

Flood risk

Zone: 1

Risk: Low

Job (default Low)

Floorplans

Floorplan 1

Price history

193% since 1999

Event	Date	Price	% change
Sold	10/07/2015 (10 years ago)	£120,000	+192.7%
Sold	28/05/1999 (27 years ago)	£41,000	—

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
108 CARHOLME ROAD, LINCOLN, LINCOLNSHIRE, LN1 1SP	£105,000	16/12/2025	Terraced
170 CARHOLME ROAD, LINCOLN, LINCOLNSHIRE, LN1 1SE	£158,000	10/12/2025	Terraced
103 NEWLAND STREET WEST, LINCOLN, LINCOLNSHIRE, LN1 1QD	£215,000	28/11/2025	Terraced
40 MOOR STREET, LINCOLN, LINCOLNSHIRE, LN1 1PR	£180,000	21/11/2025	Terraced
Same street 3 DRAKE STREET, LINCOLN, LINCOLNSHIRE, LN1 1PP	£248,110	16/07/2025	Terraced
72 ROMAN WHARF, LINCOLN, LINCOLNSHIRE, LN1 1SR	£174,500	28/02/2025	Terraced
13 TENNYSON STREET, LINCOLN, LINCOLNSHIRE, LN1 1LZ	£280,000	12/10/2023	Terraced
29 SEVERN STREET, LINCOLN, LINCOLNSHIRE, LN1 1SJ	£195,000	12/10/2023	Terraced
22 HEWSON ROAD, LINCOLN, LINCOLNSHIRE, LN1 1RX	£335,000	12/05/2023	Terraced
95 NEWLAND STREET WEST, LINCOLN, LINCOLNSHIRE, LN1 1QD	£135,000	06/04/2023	Terraced
7 ALLISON STREET, LINCOLN, LINCOLNSHIRE, LN1 1PX	£135,000	06/04/2023	Terraced
3 ALLISON STREET, LINCOLN, LINCOLNSHIRE, LN1 1PX	£135,000	06/04/2023	Terraced
127 NEWLAND STREET WEST, LINCOLN, LINCOLNSHIRE, LN1 1QD	£120,000	05/04/2023	Terraced
18 WELLINGTON STREET, LINCOLN, LINCOLNSHIRE, LN1 1PN	£172,500	05/04/2023	Terraced
Same street 1 DRAKE STREET, LINCOLN, LINCOLNSHIRE, LN1 1PP	£211,000	16/01/2023	Semi-detached
3 MOOR STREET, LINCOLN, LINCOLNSHIRE, LN1 1PW	£205,000	28/11/2022	Terraced
73 IRIS CRESCENT, LINCOLN, LINCOLNSHIRE, LN1 1BD	£301,000	22/11/2022	Terraced
286 WEST PARADE, LINCOLN, LINCOLNSHIRE, LN1 1NB	£350,000	07/11/2022	Terraced
9 IRIS CRESCENT, LINCOLN, LINCOLNSHIRE, LN1 1BD	£227,000	14/10/2022	Terraced
Same street 36 DRAKE STREET, LINCOLN, LINCOLNSHIRE, LN1 1PP	£155,000	12/10/2022	Terraced
87 NEWLAND STREET WEST, LINCOLN, LINCOLNSHIRE, LN1 1QF	£205,000	10/10/2022	Terraced
26 ALLISON STREET, LINCOLN, LINCOLNSHIRE, LN1 1PX	£170,000	23/09/2022	Terraced
101 CARHOLME ROAD, LINCOLN, LINCOLNSHIRE, LN1 1RT	£240,000	22/09/2022	Terraced
Same street 49 DRAKE STREET, LINCOLN, LINCOLNSHIRE, LN1 1PP	£226,000	05/09/2022	Semi-detached
Same street 35 DRAKE STREET, LINCOLN, LINCOLNSHIRE, LN1 1PP	£221,036	17/06/2022	Terraced

Street average: £212,229 (5 sales)

Area average: £201,900 (20 sales)

Capital growth trend

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

5y growth -1.1%

10y growth -1%

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

1y (index) 0.9%

5y (index) 16.8%

10y (index) 41.3%

Rental Range

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

Low £855/mo

Realistic £950/mo

Optimistic £1,045/mo

Based on Local Authority from postcode lookup → Lincoln.

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

Location

Map view View on Google Maps View on OpenStreetMap Street View LN1 1PP

Nearby

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

Type	Name	Distance
Bus stop	Moor Street	0.1 miles
Shop	P G Mitchell	0.1 miles
Shop	West End Food Store	0.1 miles
University	One Campus Way	0.3 miles
University	Village Hall	0.3 miles
Train station	Lincoln	0.8 miles
Train station	Hykeham	3.3 miles
Hospital	Welbourn Hall Nursing and Residential Home	11.2 miles

Street-level crime

Category	Count
Anti-social behaviour	150
Violence and sexual offences	124
Shoplifting	57
Public order	37
Other theft	29
Criminal damage and arson	20
Robbery	15
Bicycle theft	13
Drugs	12
Burglary	9
Vehicle crime	7
Other crime	6
Possession of weapons	4
Theft from the person	2
Total incidents	485

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
The St Faith's Church of England Infant and Nursery School, Lincoln	Primary	0.0 miles	Good — 24 Feb 2017
The St Faith and St Martin Church of England Junior School, Lincoln	Primary	0.3 miles	Good — 26 Feb 2020
Lincolnshire Secure Unit	Other	0.4 miles	— (No rating)
University of Lincoln	Other	0.5 miles	— (No rating)
Westgate Academy	Primary	0.6 miles	Good — 14 Jul 2016

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 Flat, Princess Street, LN5	£995/mo	3	0.93 miles	OpenRent

Average rent: £995/mo (1 listing)

Rent-driven metrics

Based on OpenRent comparables.

Rent ratio 0.64%

Max investor price (0.8%) £124,375

Target investor price (1%) £99,500

Gross yield 7.7%

Cost-to-rent ratio 13×

Monthly cashflow £260/mo 75% LTV, 3.95% APR (5yr fixed), 25yr term

Cash-on-cash ROI 6.9%

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).