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Mill Lane, Thetford, IP24

East of England

£180,000
Listed on 22/10/2025

Property Details

Bedrooms
2
Type
Detached house
Area
689 sqft

Description

This two-bedroom cottage, nestled in a private setting, offers a unique blend of charm and potential. The interior boasts a number of period features that reflect its character, while the layout allows for creativity in maximizing space. One of the standout aspects of this property is the secluded courtyard garden, which presents an opportunity for an annexe conversion—ideal for additional living space or as a rental unit. Located in a town with robust amenities, residents will benefit from easy access to a mainline railway station connecting to London, The Midlands, and beyond. This accessibility enhances the investment appeal of the property, making it suitable for both long-term habitation and rental opportunities. The area around Thetford is rich with natural beauty, surrounded by the stunning pine forests characteristic of the Brecks. With numerous outdoor activities available nearby—such as hiking, cycling, and nature walks—this location is poised to attract those seeking both tranquility and adventure. In summary, this cottage presents a compelling renovation opportunity coupled with its advantageous location. Whether looking to make it your home or considering an investment in the growing rental market, this property holds considerable promise.

Investment Analysis

(IP24 area)

Above Market Value

This property is priced +0.5% above area average per sq ft

+0.5%
This Property
£261/sq ft
Area Average
£260/sq ft
Avg Rent (weekly)
£263
Avg Yield
5.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £30,000
Target Value
£197,054
10% above area average per sq ft
Potential ROI
-6.2%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
22
Average per month
Market Turnover
18%
Properties sold annually

Local Market Trend (IP24)

Area prices are falling by +4.1% over the last 12 months
3 year growth: -7.5%
5 year growth: 13.8%
Investment Disclaimer: Analysis based on IP24 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, Thetford, IP24
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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
£659
Based on a loan of £135,000 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