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Thornham Close, Norwich

East of England

£250,000
Listed on 03/10/2025

Property Details

Bedrooms
3
Type
Detached house
Area
785 sqft

Description

This detached bungalow features three bedrooms and presents a solid opportunity for those looking to invest in a renovation project. Located in the sought-after NR7 area, the property is positioned on a spacious plot that boasts a generous rear garden, providing ample outdoor space for future enhancements or landscaping. Inside, you will find a well-sized living area, complemented by a bright conservatory that offers views of the garden. The home includes three nicely proportioned bedrooms, making it suitable for families or individuals seeking extra space. The family bathroom and kitchen offer essential amenities but are in need of modernization, allowing new owners to update the interiors according to their preferences and style. The potential for this property extends beyond personal use; its desirable location and substantial garden may appeal to investors looking to enhance value through refurbishment or expansion. With convenient transport links nearby and access to local amenities, this bungalow is strategically placed for long-term gains. Overall, this property provides a unique canvas for buyers ready to embrace the challenge of transforming it into a contemporary living space while benefiting from the growth potential of the surrounding area.

Investment Analysis

(NR7 area)

Above Market Value

This property is priced +1.5% above area average per sq ft

+1.5%
This Property
£318/sq ft
Area Average
£314/sq ft
Avg Rent (weekly)
£233
Avg Yield
4.1%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£20,000 - £40,000
Target Value
£271,053
10% above area average per sq ft
Potential ROI
-6.5%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
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

Thornham Close, 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
£916
Based on a loan of £187,500 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