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Castle Street, Thetford, IP24

East of England

£160,000
Listed on 20/03/2026

Property Details

Bedrooms
2
Type
Terraced
Area
901 sqft

Description

This extended brick and flint terrace home presents a unique opportunity for buyers seeking to invest in a property with strong renovation potential. Located in the heart of Thetford on Castle Street, it retains charm while offering spacious options for modern living. The layout includes two separate reception rooms that can serve various purposes – from a traditional lounge to a versatile dining or workspace area. The kitchen is functional as is but also allows homeowners the freedom to enhance it in line with their personal taste over time. Positioned conveniently off the rear, the ground floor bathroom mirrors this flexibility, serving its purpose while inviting future updates. On the first floor, both double bedrooms provide generous space, making them suitable for different buyer demographics. Outside, enjoy a private garden complete with an outbuilding for additional storage needs, ideal for keeping outdoor equipment or other items. Living centrally in Thetford means easy access to local amenities and transport links, enhancing day-to-day convenience whether commuting or enjoying nearby services. This property caters well to first-time buyers looking for more than just an entry point into homeownership; it’s also appealing for investors, currently generating £10,800 annually from rental income with solid scope for appreciation through renovations.

Investment Analysis

(IP24 area)

Below Market Value

This property is priced -31.4% below area average per sq ft

-31.4%
Potential saving
This Property
£178/sq ft
Area Average
£259/sq ft
Avg Rent (weekly)
£279
Avg Yield
5.8%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £25,000
Target Value
£256,596
10% above area average per sq ft
Potential ROI
+38.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
19
Average per month
Market Turnover
75%
Properties sold annually

Local Market Trend (IP24)

Area prices are stable by 0.0% over the last 12 months
3 year growth: -6.0%
5 year growth: +11.3%
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

Castle Street, 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
£577
Based on a loan of £120,000 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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