# 3 bedroom detached bungalow for sale (LN8 2HS)

## Property Details

| Key | Value |
|-----|-------|
| Address | 4 THE PADDOCK, MARKET RASEN, OWMBY BY SPITAL, LINCOLNSHIRE LN8 2HS |
| Price | £460,000 |
| Bedrooms | 3 |
| Bathrooms | 2 |
| Council tax | D |
| Last sold | £420,000 Jul 2022 |

## Description

Individually Designed and IMMACULATELY PRESENTED. Spacious DETACHED BUNGALOW situated on a private road in a desirable Rural Location with far reaching views overlooking the countryside. Comprising entrance hall, lounge, dining room, sun room, newly fitted kitchen, utility, 3 bedrooms, ensuite and newly fitted shower room. With GENEROUS GARDENS,  Double Garage & Extensive Driveway. VIEWING ADVISED TO FULLY APPRECIATE

EPC Rating: D

## Property Photos

- ![Photo](/listings/photos/94621845/2658181)
- ![Photo](/listings/photos/94621845/2658182)
- ![Lounge](/listings/photos/94621845/2658183) - Lounge
- ![Entrance Hall](/listings/photos/94621845/2658184) - Entrance Hall
- ![Lounge](/listings/photos/94621845/2658185) - Lounge
- ![Dining Room](/listings/photos/94621845/2658186) - Dining Room
- ![Sun Room](/listings/photos/94621845/2658187) - Sun Room
- ![Kitchen](/listings/photos/94621845/2658188) - Kitchen
- ![Kitchen](/listings/photos/94621845/2658189) - Kitchen
- ![Utility Room](/listings/photos/94621845/2658190) - Utility Room
- ![Bedroom 1](/listings/photos/94621845/2658191) - Bedroom 1
- ![Ensuite](/listings/photos/94621845/2658192) - Ensuite
- ![Ensuite](/listings/photos/94621845/2658193) - Ensuite
- ![Bedroom 2](/listings/photos/94621845/2658194) - Bedroom 2
- ![Bedroom 3](/listings/photos/94621845/2658195) - Bedroom 3
- ![Shower Room](/listings/photos/94621845/2658196) - Shower Room
- ![Photo](/listings/photos/94621845/2658197)
- ![Photo](/listings/photos/94621845/2658198)
- ![Photo](/listings/photos/94621845/2658199)
- ![Photo](/listings/photos/94621845/2674085)

## Floorplans

- ![All](/listings/photos/94621845/2658200) - All

## EPC Graphs

- ![EPC 1](/listings/photos/94621845/2658201) - EPC 1

## FENSA Certificates

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

### FENSA Certificate #6274305
- **Address:** 4 The Paddock, Owmby-by-Spital, LN8 2HS
- **Certificate Issued:** 26/01/2009
- **Work Completed:** 31/12/2008
- **Items:** 1 window(s), 1 door(s)

## Sales History

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

| Address | Price | Date | Type |
|---------|-------|------|------|
| 4 THE PADDOCK, OWMBY BY SPITAL, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 2HS | £420,000 | 29/07/2022 | Detached |
| 4 THE PADDOCK, OWMBY BY SPITAL, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 2HS | £285,000 | 16/11/2012 | Detached |
| 4 THE PADDOCK, OWMBY BY SPITAL, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 2HS | £242,500 | 11/08/2004 | Detached |
| 4 THE PADDOCK, OWMBY BY SPITAL, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 2HS | £86,500 | 26/09/1997 | 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 |
|---------|-------|------|------|
| 5 HURRICANE GROVE, WELTON, LINCOLN, WEST LINDSEY, LINCOLNSHIRE, LN2 3DA | £439,000 | 22/08/2025 | Detached |
| 2 HURRICANE GROVE, WELTON, LINCOLN, WEST LINDSEY, LINCOLNSHIRE, LN2 3DA | £360,000 | 02/08/2025 | Detached |
| 19 HURRICANE GROVE, WELTON, LINCOLN, WEST LINDSEY, LINCOLNSHIRE, LN2 3DA | £424,000 | 24/11/2023 | Detached |
| MEADOW RISE FEN ROAD, OWMBY BY SPITAL, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 2HP | £425,000 | 31/10/2023 | Detached |
| THE LAURELS, 6 LIME GROVE, OWMBY BY SPITAL, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 2BS | £507,500 | 20/10/2023 | Detached |
| [Same street] 1 THE PADDOCK, OWMBY BY SPITAL, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 2HS | £332,500 | 04/03/2022 | Detached |
| LIME TREE HOUSE FEN ROAD, OWMBY BY SPITAL, MARKET RASEN, WEST LINDSEY, LINCOLNSHIRE, LN8 2HP | £550,000 | 28/02/2022 | Detached |

**Street average:** £332,500 (1 sale)
**Area average:** £450,917 (6 sales)

## Price vs local average

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

- **Local average:** £322,154 (47 Detached, LN8, 2024–2026)
- **Deviation:** +42.8%

## Rental Range

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

- **Low:** £670/mo
- **Realistic:** £744/mo
- **Optimistic:** £818/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 Bungalow, Front Street, LN8 | £1,500/mo | 3 | 0.47 miles | OpenRent |

**Average rent: £1,500/mo (1 listing)**

## 1% Rule

- **Rent ratio:** 0.33% (weak for cashflow)
- **Max investor price (0.8%):** £187,500
- **Target investor price (1%):** £150,000

*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 £1,500/mo).*

- **Gross yield:** 3.9%
- **Cost-to-rent:** 25.6×
- **Monthly cashflow:** £-487/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term)
- **Cash-on-cash ROI:** -4.4%

*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:** 20.1%

## House Price Index (HM Land Registry)

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

- **1y growth (index):** -0.1%
- **5y growth (index):** 7.2%
- **10y growth (index):** 38.6%

## 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)