Summary - 106 RIPON STREET LINCOLN LN5 7NQ
5 bed 2 bath Terraced
Five-bedroom licensed property near university with immediate lettings potential.
Licensed five-bedroom HMO, currently fully let
Potential gross rental income circa £25,824 per annum
Two shower rooms; reception room and kitchen
Rear yard with two outbuildings; small outdoor space
Solid brick Victorian build; likely no wall insulation
EPC D; double glazing present (installation date unknown)
Area classified as deprived; average local crime levels
Requires updating and verification of HMO compliance and income
This licensed five-bedroom mid-terrace offers an established HMO layout close to Lincoln city centre and the university, making it immediately lettable to students and city workers. The current configuration provides two shower rooms, a reception room, kitchen and a rear yard with two outbuildings. Broadband and mobile signal are strong, and the property is currently fully let, showing immediate income potential.
Shown as a period Victorian terrace, the property retains high ceilings and bay windows but will benefit from updating; descriptions note modernised open-plan living areas alongside older features that may need attention. Construction is solid brick with assumed no wall insulation; double glazing is present but install date is unknown. EPC rating D and Council Tax Band A are recorded.
Financially this building is pitched as an HMO investment: advertised potential annual rental income is around £25,800 (gross) with a cited gross yield of approximately 13% when fully occupied (figures provided by the seller). Buyers should verify these income projections and running costs; some listings also quote up to £26,040 including bills.
Important negatives: the property sits in a deprived area with average crime levels and a small overall plot size. The house is described as a fixer-upper in places and may require further modernisation or ongoing maintenance (roof, insulation, systems) —buyers must commission surveys and confirm compliance with HMO and safety regulations before purchase.
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