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Thor Close, Norwich, NR7

East of England

£230,000
Listed on 03/10/2025

Property Details

Bedrooms
2
Type
Detached house

Description

This 2-bedroom bungalow in Norwich offers a distinctive opportunity for those interested in renovation and investment. The property comprises two bedrooms, a family bathroom, a spacious living room, and a kitchen that are all ripe for modernization. While the interiors may require updating, they present a blank canvas for new owners to personalize and enhance according to their vision. Outside, the property features a sizable driveway as well as front and rear gardens that provide ample space for outdoor activities and landscaping projects. The generous rear garden holds potential for expansion, whether that's adding extensions or exploring the possibility of creating an additional plot, subject to planning permissions. The surrounding area showcases similar properties that have successfully undergone extensions and renovations, suggesting the feasibility of similar improvements here. Located in Norwich, this bungalow benefits from proximity to the vibrant array of amenities the city has to offer. Residents can enjoy easy access to numerous restaurants, cafes, shops, educational institutions, and recreational facilities. Additionally, Norwich's historic landmarks and scenic riverside walks add further charm to the locale. The investment potential of this property is notable. Priced competitively below market value, it is an appealing opportunity for first-time buyers, investors, or developers looking for a rewarding project. The scope for extensions and upgrades presents multiple avenues for enhancement or resale value increase. In summary, this bungalow stands out as a promising project with significant potential to transform into a modern residence or an investment opportunity within a thriving community. Early viewings are advisable to fully appreciate what this property has to offer.

Investment Analysis

(NR7 area)
Area Average
£314/sq ft
Avg Rent (weekly)
£233
Avg Yield
4.1%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £30,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
34
Average per month
Market Turnover
20%
Properties sold annually

Local Market Trend (NR7)

Area prices are rising by +6.6% over the last 12 months
3 year growth: -1.0%
5 year growth: 16.3%
Investment Disclaimer: Analysis based on NR7 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

Thor Close, Norwich, NR7
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Mortgage Calculator

£
£
£
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%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£843
Based on a loan of £172,500 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