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Rare Turn-Key Opportunity in In-Town Lincoln! This classic 1. 75-story Dutch Colonial at 38 School St offers a premier location with a proven investment track record, generating $75, 000 in revenue for 2025. Perfectly situated for convenience, you can stroll to local shopping, dining, the library, church, theater, and the Lin-Wood Public School, all just steps away. Interior Excellence: Step into a modern kitchen featuring elegant marble floors and premium appliances (all <3 years old). The main level flows into a sun-drenched dining area and a spacious living room featuring beautifully refinished fir floors. This level also includes a convenient half-bath. Comfort is guaranteed year-round with a new Gree mini-split system (AC/Heat) and Nest thermostats. Bedroom Level & Basement: The second floor offers a traditional layout with three well-appointed bedrooms and a full, updated bathroom. Every bedroom is equipped with baseboard, a dedicated mini-split and ceiling fan for personalized climate control. For added convenience, the finished laundry room is located in the basement, easily accessed from the dining area stairs. The basement also features a fully heated zone—keeping the main level floors warm—and houses an impeccably organized 200-amp electrical panel and a high-efficiency Viessmann tankless boiler. Luxury Living & Value Add: The private side yard is an outdoor oasis with a gazebo and a 4-person Hot Springs salt-water hot tub. Across the town-maintained Govoni Lane, the property includes a detached 2-car garage. Given the Village Residential zoning, there is significant potential to explore an Accessory Dwelling Unit (ADU) conversion for increased value or rental density. Sold Turn-Key: This home is offered fully furnished, making it a seamless transition for a primary residence or a high-performing short-term rental.
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of PrimMLS. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 5/10/2026Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $496,000 | $496,000 | $496,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.875% | 6.250% | 5.375% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.324% | 6.398% | 5.614% |
| Monthly Tax Payment | $248 | $248 | $248 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $2,934 | $3,054 | $4,020 |
| Total Monthly Payment | $3,274 | $3,394 | $4,360 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.