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St. Margarets Lane, Cromer, NR27

East of England

£310,000
Listed on 03/10/2025

Property Details

Bedrooms
3
Type
Semi-detached house
Area
1067 sqft

Description

This charming three-bedroom property offers a blend of traditional character and the potential for modern updates, making it an ideal candidate for renovation or investment. Located within walking distance to Cromer’s picturesque seafront and bustling town center, the home's setting enhances its appeal as either a primary residence or a holiday rental opportunity. Inside, you are greeted by a cozy lounge featuring a wood-burning stove that creates an inviting atmosphere for relaxation. The spacious kitchen/diner is designed with practicality in mind, equipped with integrated appliances and ample room for dining and entertaining guests. This area could benefit from updates to maximize its functionality and aesthetic appeal. On the first floor, two sizable bedrooms include a notable principal bedroom complete with built-in wardrobes. The bathroom retains character while offering an opportunity for modernization, reflecting the home's historical charm. A third bedroom located on the second floor provides flexibility; it can serve as a guest suite, home office, or creative space. A significant advantage of this property is the expansive cellar, which holds great potential for conversion into additional living space such as a studio or family room (subject to necessary permissions). Outside, you'll find off-road parking—an increasingly rare feature in this desirable area—and a brick shed for additional storage needs. With its location and features, this property stands out as a promising investment prospect with multiple avenues for enhancement or personal touches. Viewing is recommended to fully appreciate the possibilities this home presents.

Investment Analysis

(NR27 area)

Below Market Value

This property is priced -9.2% below area average per sq ft

-9.2%
Potential saving
This Property
£291/sq ft
Area Average
£320/sq ft
Avg Rent (weekly)
£210
Avg Yield
3.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£375,701
10% above area average per sq ft
Potential ROI
+7.3%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
14
Average per month
Market Turnover
8%
Properties sold annually

Local Market Trend (NR27)

Area prices are rising by +5.6% over the last 12 months
3 year growth: 2.6%
5 year growth: 12.8%
Investment Disclaimer: Analysis based on NR27 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

St. Margarets Lane, Cromer, NR27
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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
£1,136
Based on a loan of £232,500 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