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Rackheath, Norwich, NR13

East of England

£490,000
Listed on 19/04/2026

Property Details

Bedrooms
3
Type
Plot

Description

This property presents a unique opportunity for those looking to invest in a detached family home situated on approximately 0.5 acres on the borders of Sprowston and Rackheath. The home features a spacious layout and boasts a wealth of future potential, particularly for developers. Previously granted Planning in Principle allows for the demolition of the existing structure and replacement with up to three four-bedroom houses, indicating strong development possibilities upon renewal of permissions. The accommodation extends over 1500 sq ft and comprises a dual-aspect sitting room, separate dining hall, and garden room that connects beautifully to the outdoor space. While it is currently functional, there is considerable scope to enhance or repurpose areas such as the utility and cloakroom. The first floor hosts three generous double bedrooms alongside a well-sized bathroom equipped for modern living. The extensive grounds highlight both privacy and versatility, featuring manicured lawns and mature trees, along with a substantial timber workshop suitable for various hobbies or storage needs. Recent improvements including a full rewire and solar panel installation help enhance eco-efficiency and reduce running costs. This residence stands out not only for its family-friendly attributes but also due to its prime location near local amenities and transport connections, making it ideal for those seeking convenience along with space. With some strategic renovations and updates, this property could become either an impressive family home or a lucrative investment opportunity.

Investment Analysis

(NR13 area)
Area Average
£317/sq ft
Avg Rent (weekly)
£318
Avg Yield
4.3%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£50,000 - £80,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
30
Average per month
Market Turnover
10%
Properties sold annually

Local Market Trend (NR13)

Area prices are stable by -0.4% over the last 12 months
3 year growth: -3.3%
5 year growth: +7.5%
Investment Disclaimer: Analysis based on NR13 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

Rackheath, Norwich, NR13
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 3.91%

Current average variable rate is 6.62%

Monthly Repayments
£1,735
Based on a loan of £367,500 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.

Stamp Duty Calculator

This calculation uses non-residential (land/commercial) tax rates.

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