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243 Norwich Road, Fakenham, Norfolk NR21 8LY - Image 1
243 Norwich Road, Fakenham, Norfolk NR21 8LY - Image 2
243 Norwich Road, Fakenham, Norfolk NR21 8LY - Image 3
243 Norwich Road, Fakenham, Norfolk NR21 8LY - Image 4

243 Norwich Road, Fakenham, Norfolk NR21 8LY

East of England

£200,000
Listed on 09/01/2026

Property Details

Bedrooms
3
Type
Detached house
Area
840 sqft

Description

This detached three-bedroom bungalow presents a significant opportunity for developers and builders looking to transform a property requiring full renovation. Boasting a spacious layout that includes a lounge, kitchen, bathroom, and separate w.c., the bungalow is situated on a generous plot with ample garden space at the rear and the convenience of a single garage. With vacant possession, this property is primed for investment or refurbishment. Located in Fakenham, known for its local amenities and proximity to the North Norfolk coast, this project could yield substantial returns upon completion.

Investment Analysis

(NR21 area)

Below Market Value

This property is priced -19.2% below area average per sq ft

-19.2%
Potential saving
This Property
£238/sq ft
Area Average
£295/sq ft
Avg Rent (weekly)
£227
Avg Yield
3.6%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£50,000 - £80,000
Target Value
£272,164
10% above area average per sq ft
Potential ROI
-2.8%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
18
Average per month
Market Turnover
32%
Properties sold annually

Local Market Trend (NR21)

Area prices are rising by +6.9% over the last 12 months
3 year growth: 0.5%
5 year growth: 17.0%
Investment Disclaimer: Analysis based on NR21 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

243 Norwich Road, Fakenham, Norfolk NR21 8LY
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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
£733
Based on a loan of £150,000 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