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Newmarket Street, Norwich NR2 - Image 1
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Newmarket Street, Norwich NR2

East of England

£270,000
Listed on 01/10/2025

Property Details

Bedrooms
3
Type
Terraced house
Area
804 sqft

Description

This distinctive three-bedroom terraced house on Newmarket Street is a property that combines character with significant renovation potential. Nestled in the heart of Norwich's Golden Triangle, this home showcases original features that reflect its historical charm, including two original fireplaces—one adorned with striking brickwork in the sitting room and another featuring a rich wooden mantle in the dining area. The layout of the ground floor includes a kitchen that connects to a practical utility area, presenting an excellent opportunity for reconfiguration into an expansive open-plan space. With thoughtful design adjustments, this common area could become the bustling hub of family life. Additionally, there is ample scope to extend this part of the home, subject to planning permissions. On the upper level, you'll find three well-sized bedrooms complemented by a shower room, providing flexible living arrangements suitable for various needs. The lengthy garden at the rear is another notable feature; it offers an ideal canvas for landscaping or even further development should you wish to enhance outdoor living space. Positioned on Newmarket Street, residents benefit from a vibrant community atmosphere surrounded by an array of amenities. Local parks and green spaces such as Eagle Park are just a short walk away, perfect for relaxation and recreation. The area is also known for its diverse selection of pubs and eateries; popular spots like The Unthank Arms and The George Hotel are within easy reach. In terms of connectivity, Norwich city centre is a comfortable stroll away, affording access to shopping districts, cultural sites, and entertainment options like Chantry Place and the Castle Quarter. For families, proximity to various educational institutions—from primary to higher education—ensures all needs are met within close range. This property not only offers charm but also represents a prime investment opportunity in a highly desirable location. With its original features providing character and the potential for modernisation at every turn, this home invites buyers who appreciate both tradition and future possibilities.

Investment Analysis

(NR2 area)

Above Market Value

This property is priced +6.7% above area average per sq ft

+6.7%
This Property
£336/sq ft
Area Average
£315/sq ft
Avg Rent (weekly)
£268
Avg Yield
5.0%

Renovation Potential

Est. Renovation Cost
£27,000 - £67,500
10-25% of property value
Target Value
£278,453
10% above area average per sq ft
Potential ROI
-17.5%
After renovation
Monthly Sales
37
Average per month
Market Turnover
79%
Properties sold annually

Local Market Trend (NR2)

Area prices are rising by +5.1% over the last 12 months
3 year growth: 13.8%
5 year growth: 19.3%
Investment Disclaimer: Analysis based on NR2 area averages and may not reflect property-specific factors like condition, exact location, or unique features. 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

Newmarket Street, Norwich NR2
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