Worst House on the Street Logo
Costessey, NR5 - Image 1
Costessey, NR5 - Image 2
Costessey, NR5 - Image 3
Costessey, NR5 - Image 4
Costessey, NR5 - Image 5
Costessey, NR5 - Image 6

Costessey, NR5

East of England

£225,000
Listed on 31/03/2026

Property Details

Bedrooms
3
Type
Detached Bungalow

Description

This three-bedroom chalet bungalow presents an intriguing investment opportunity, ideal for those looking to engage in a comprehensive renovation project. Nestled in the sought-after area of New Costessey, this property is available with no onward chain and is priced to reflect the extensive refurbishment needed throughout. Its generous plot not only offers appealing views from the rear but also significant potential for transformation into a charming family residence or investment property. The layout spans two floors, beginning with a welcoming entrance hall that connects to all main rooms. The front features a bright sitting room with a bay window that transitions into a dining area, enhancing the communal feel of the space. Two spacious double bedrooms are located on this floor, including a sizable principal bedroom showcasing bay frontage. At the back, the kitchen/dining room overlooks the garden and holds great promise for reconfiguration, complemented by access to a lean-to conservatory. Completing this level are a bathroom and separate WC. The first floor houses an additional double bedroom along with ample loft space that provides opportunities for further development, pending necessary approvals. Outside, the property boasts a well-kept front garden leading to the entrance and an expansive rear plot primed for future enhancements. Notably, planning permission (Ref: 2023/0227) has been granted for three new dwellings at the back of Gurney Road, which will involve repositioning the existing garage and creating new access points alongside an improved garden layout. Further information regarding planning and site specifics can be provided upon request.

Investment Analysis

(NR5 area)
Area Average
£284/sq ft
Avg Rent (weekly)
£429
Avg Yield
8.1%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£60,000 - £90,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
25
Average per month
Market Turnover
11%
Properties sold annually

Local Market Trend (NR5)

Area prices are falling by -6.0% over the last 12 months
3 year growth: -9.0%
5 year growth: +3.4%
Investment Disclaimer: Analysis based on NR5 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

Costessey, NR5
Loading map...

Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 3.91%

Current average variable rate is 6.62%

Monthly Repayments
£797
Based on a loan of £168,750 over 30 years at 3.91% 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.

Next Steps

Explore services to help you with this property purchase.

Get help with this property

Financing, surveys and more – choose a service and we’ll connect you with our trusted partners.

Allcott Associates