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Mill Lane, Thetford, IP24

East of England

£180,000
Listed on 12/02/2026

Property Details

Bedrooms
2
Type
Detached house
Area
689 sqft

Description

This spacious two-bedroom cottage is nestled in a quiet location, presenting a unique opportunity for renovation and investment. The property showcases a variety of period features that lend character but may also need updating to meet modern living standards. The secluded courtyard garden offers potential for an annexe conversion, which could enhance the property's value significantly. Located in a well-serviced town with access to amenities and mainline railway connections, this cottage is not only ideal for personal use but also presents opportunities for rental income or resale after refurbishment. The surrounding area boasts beautiful pine forests, perfect for outdoor enthusiasts, further adding to its appeal as a desirable residential spot. This property holds significant potential for those looking to invest in a charming home with room for improvement.

Investment Analysis

(IP24 area)

Above Market Value

This property is priced +1.4% above area average per sq ft

+1.4%
This Property
£261/sq ft
Area Average
£258/sq ft
Avg Rent (weekly)
£260
Avg Yield
5.3%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £45,000
Target Value
£195,235
10% above area average per sq ft
Potential ROI
-13.2%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
21
Average per month
Market Turnover
83%
Properties sold annually

Local Market Trend (IP24)

Area prices are falling by -2.5% over the last 12 months
3 year growth: -7.6%
5 year growth: +10.4%
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 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£649
Based on a loan of £135,000 over 30 years at 4.06% 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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