Worst House on the Street Logo
Ely Road, Hilgay, Downham Market, Norfolk PE38 - Image 1
Ely Road, Hilgay, Downham Market, Norfolk PE38 - Image 2
Ely Road, Hilgay, Downham Market, Norfolk PE38 - Image 3

Ely Road, Hilgay, Downham Market, Norfolk PE38

East Midlands

£240,000
Listed on 11/10/2025

Property Details

Bedrooms
2
Type
Detached house
Area
1074 sqft

Description

Nestled in the charming village of Hilgay, this two-bedroom detached bungalow offers a prime opportunity for renovation and investment. Available with no onward chain, the property is situated on a generous plot that features an inviting frontage and a gravel driveway with ample parking space, complemented by a garage for convenient storage. Inside, the bungalow presents spacious and adaptable living areas, including two generously sized bedrooms, a family bathroom, and a kitchen enhanced by a traditional pantry. While the interiors would benefit from modern updates, they provide a clean slate for prospective buyers looking to customize their future home according to personal preferences and lifestyle needs. The rear of the property boasts a fully enclosed garden primarily laid to lawn. This outdoor space is ideal for families or those seeking a tranquil retreat amidst nature, offering ample room for children to play or for gardening enthusiasts to cultivate their own oasis. The potential for enhancement here is noteworthy—whether it’s creating an inviting entertainment area or simply enjoying the quiet surroundings. Hilgay itself is rich in rural charm and historical significance. Located near the River Wissey, this small village supports a close-knit community atmosphere while providing access to essential local amenities such as a primary school and pub. Additionally, larger towns are within easy reach, ensuring residents can enjoy both countryside tranquility and convenient access to more extensive services. This bungalow stands out as an exceptional opportunity for those seeking not just a home but also an investment that allows for personalization and growth in one of Norfolk’s picturesque settings.

Investment Analysis

(PE38 area)

Below Market Value

This property is priced -19.3% below area average per sq ft

-19.3%
Potential saving
This Property
£223/sq ft
Area Average
£277/sq ft
Avg Rent (weekly)
£211
Avg Yield
3.5%

Renovation Potential

Est. Renovation Cost
£24,000 - £60,000
10-25% of property value
Target Value
£326,952
10% above area average per sq ft
Potential ROI
+9.0%
After renovation
Monthly Sales
9
Average per month
Market Turnover
16%
Properties sold annually

Local Market Trend (PE38)

Area prices are rising by +2.5% over the last 12 months
3 year growth: 4.9%
5 year growth: 21.4%
Investment Disclaimer: Analysis based on PE38 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

Ely Road, Hilgay, Downham Market, Norfolk PE38
Map showing location of Ely Road, Hilgay, Downham Market, Norfolk PE38
Open Map