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Mill Lane, Needham, Harleston

East of England

£375,000
Listed on 14/10/2025

Property Details

Bedrooms
3
Type
Detached house
Area
1227 sqft

Description

This distinctive period cottage offers a unique opportunity for renovation and investment in a picturesque semi-rural setting on the edge of Needham. Nestled within the scenic Waveney Valley, the property boasts substantial potential for those looking to modernize or expand upon its existing features while enjoying tranquil rural views. Upon entering, you are greeted by a covered wooden porch that leads into an entry hall with stairs ascending to the first floor. The kitchen, characterized by painted timbers and colorful cabinetry, retains its charm and could benefit from a contemporary update. Adjacent to the kitchen is a versatile room that can be transformed into an ideal utility space. The dining room, also featuring painted timbers, flows seamlessly from the kitchen and provides easy access to the ground floor bathroom. At the rear of the cottage is a cozy sitting room equipped with sliding glazed doors that open out to a private garden area. The first floor hosts three generously sized double bedrooms, all offering lovely views of the surrounding landscape—perfect for creating inviting personal retreats. Externally, access to the cottage is via a shared driveway leading to a designated parking area, ensuring convenience for residents. The property is accompanied by an established lawned garden interspersed with mature trees and expansive views, enhancing its appeal as an outdoor entertaining space or as a potential garden redesign project. In terms of infrastructure, electric storage heaters and a wood burner provide heating options; however, prospective buyers should note that while the current private drainage system functions adequately, it may not meet modern regulations. Incorporating this upgrade could significantly enhance both comfort and value during any refurbishment endeavors. Situated just off the A143, Needham benefits from easy connectivity to nearby market towns such as Harleston and Diss. Harleston offers rich historical architecture alongside an array of independent shops and local services—an attractive feature for both residents and potential tenants alike. Overall, this cottage represents not just a home but also an investment in a burgeoning area with ample scope for enhancement through thoughtful renovations.

Investment Analysis

(IP20 area)

Above Market Value

This property is priced +2.2% above area average per sq ft

+2.2%
This Property
£306/sq ft
Area Average
£299/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£403,695
10% above area average per sq ft
Potential ROI
-2.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
6
Average per month
Market Turnover
6%
Properties sold annually

Local Market Trend (IP20)

Area prices are stable by +0.5% over the last 12 months
3 year growth: -2.9%
5 year growth: 17.0%
Investment Disclaimer: Analysis based on IP20 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 Lane, Needham, Harleston
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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
£1,374
Based on a loan of £281,250 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