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Meadow Road, Costessey, Norwich - Image 1
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Meadow Road, Costessey, Norwich

East of England

£220,000
Listed on 05/04/2025

Property Details

Bedrooms
2
Type
Semi-detached house
Area
721 sqft

Description

This two-bedroom semi-detached bungalow is located in a sought-after area of Costessey, presenting an excellent opportunity for renovation enthusiasts or investors looking to enhance a property with significant potential. The home features a spacious sitting/dining room that invites natural light, as well as a separate kitchen equipped with essential appliances and ample storage. The layout includes two generously sized double bedrooms, one of which connects to a conservatory that offers additional living space and views of the back garden. The property's shower room includes modern fixtures, but could benefit from updates to align with contemporary styles. Outside, the private rear garden presents a blank canvas ready for your personal touch—ideal for landscaping or creating outdoor entertaining areas. This outdoor space is easily accessible through secure side gates and also includes a garage with an electric door, making it convenient for parking or additional storage. With its hardstanding driveway accommodating multiple vehicles and an overall layout that encourages customization, this bungalow holds promise for those willing to invest time and creativity into its transformation. It’s positioned close to local amenities, providing added appeal for future tenants or homeowners alike. Overall, this property not only offers comfortable living space but also serves as a valuable investment opportunity in an attractive neighborhood.

Investment Analysis

(NR5 area)

Above Market Value

This property is priced +8.8% above area average per sq ft

+8.8%
This Property
£305/sq ft
Area Average
£280/sq ft
Avg Rent (weekly)
£499
Avg Yield
9.4%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£20,000 - £40,000
Target Value
£222,425
10% above area average per sq ft
Potential ROI
-14.5%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
17
Average per month
Market Turnover
12%
Properties sold annually

Local Market Trend (NR5)

Area prices are stable by +1.7% over the last 12 months
3 year growth: -5.7%
5 year growth: 9.3%
Investment Disclaimer: Analysis based on NR5 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. 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

Meadow Road, Costessey, Norwich
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£806
Based on a loan of £165,000 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE