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Mill Road, Cromer

East of England

£405,000
Listed on 03/10/2025

Property Details

Bedrooms
4
Type
Detached house
Area
660 sqft

Description

This charming detached home presents a noteworthy opportunity for renovation, situated in a desirable residential area conveniently located near the local hospital and schools. While the property retains its character, it is primed for updating, offering an ideal canvas for those looking to create a modern family residence. The layout includes two reception rooms and four bedrooms, providing ample space for families or potential rental investment. The living room benefits from natural light through dual aspect UPVC double glazed windows and features an open fireplace with a tiled surround, adding to its appeal. The dining room also boasts front-facing views with a feature fireplace that could be revitalized. The kitchen, though functional with existing gas central heating and provisions for appliances, offers numerous opportunities for a contemporary redesign. A walk-in pantry adds additional storage options and enhances functionality. Upstairs, the landing connects to all four bedrooms, each featuring built-in storage and characteristic details such as picture rails. The bathroom and separate W.C. could benefit from modernization but already include essential fixtures. Externally, the property is set back from the road with a generous front garden and driveway providing off-street parking for at least two vehicles, leading to a detached timber garage for added utility. The west-facing rear garden is fully enclosed, primarily laid to lawn with mature trees that can be enhanced through landscaping. With easy access to the town center's shops and transport links including bus and rail services to Norwich city, this property's location further boosts its investment potential. Given the demand in the area, there is strong potential for significant value appreciation following refurbishment. This freehold property comes with all mains services connected—gas, electricity, water—and is categorized under council tax band D.

Investment Analysis

(NR27 area)

Above Market Value

This property is priced +91.7% above area average per sq ft

+91.7%
This Property
£614/sq ft
Area Average
£320/sq ft
Avg Rent (weekly)
£210
Avg Yield
3.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£30,000 - £50,000
Target Value
£232,393
10% above area average per sq ft
Potential ROI
-48.9%
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

Mill Road, Cromer
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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
£1,484
Based on a loan of £303,750 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