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The Ridings, Fakenham NR21

East of England

£230,000
Listed on 29/03/2025

Property Details

Bedrooms
3
Type
Semi-detached house
Area
1065 sqft

Description

This south-facing semi-detached house presents an opportunity for renovation and investment in a desirable area. The property features gas central heating and double glazing throughout, making it a practical choice for both homeowners and investors looking to enhance its value. Inside, the layout includes three bedrooms alongside flexible living spaces that could be adapted to suit various needs. The ground floor consists of a study/bedroom, a spacious sitting room with an archway leading into the dining area, and a fitted kitchen equipped with essential appliances such as a "Samsung" electric hob and "Belling" double oven. While some rooms require refurbishment, this presents a perfect canvas for personal touches or modern upgrades. The first floor accommodates three well-proportioned bedrooms, including a master bedroom with an en-suite that is also in need of attention, allowing for customization according to your vision. The family bathroom offers standard fixtures that can be refreshed for improved functionality. Outside, the property is set on an elevated plot within a quiet cul-de-sac. A gravelled car parking space is available at the front, complemented by a raised patio area that faces south—ideal for enjoying sunny days. The enclosed rear garden offers potential for landscaping or gardening projects, enhancing outdoor living options. Located approximately three-quarters of a mile from the town center and just a short walk from the scenic River Wensum, this property benefits from its proximity to local amenities while maintaining a tranquil residential atmosphere. With thoughtful renovations, this house has significant potential for increased equity and rental appeal in this sought-after development. All mains services are connected, and the home falls under North Norfolk District Council with tax band C. Its current EPC rating stands at D. This property represents not just a home but also an investment opportunity waiting to be realized.

Investment Analysis

(NR21 area)

Below Market Value

This property is priced -26.8% below area average per sq ft

-26.8%
Potential saving
This Property
£216/sq ft
Area Average
£295/sq ft
Avg Rent (weekly)
£229
Avg Yield
3.6%

Renovation Potential

Est. Renovation Cost
£23,000 - £57,500
10-25% of property value
Target Value
£345,417
10% above area average per sq ft
Potential ROI
+20.1%
After renovation
Monthly Sales
10
Average per month
Market Turnover
9%
Properties sold annually

Local Market Trend (NR21)

Area prices are rising by +9.5% over the last 12 months
3 year growth: 5.5%
5 year growth: 30.9%
Investment Disclaimer: Analysis based on NR21 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

The Ridings, Fakenham NR21
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