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Nelson Street, Norwich NR2

East of England

£230,000
Listed on 18/03/2026

Property Details

Bedrooms
2
Type
Terraced
Area
984 sqft

Description

This property is a promising option for first-time buyers looking to make their mark on a home with ample potential. The ground floor boasts a bright sitting room, ideal for casual gatherings, which opens into a separate dining area—perfect for entertaining guests. The kitchen, featuring a useful pantry, offers good functionality but invites modern updates to enhance its appeal. A convenient ground floor bathroom and a side conservatory/lean-to provide additional flexible space that can serve various purposes, from an office to a cozy reading nook. As you move to the middle floor, two well-sized bedrooms await; one includes an ensuite shower room and built-in storage solutions. The top floor has been converted to create an adaptable loft space, which could be transformed into an office or play area according to your needs. Outside, you'll find a low-maintenance garden space that allows for enjoyment of the outdoors without extensive upkeep. Although the property maintains a solid foundational layout, it requires modernisation and personal touches to unlock its full value—a rewarding opportunity for buyers willing to invest in renovations. Set in the Heigham Grove area of Norwich, this home combines potential with convenience; local amenities such as shops and schools are within easy reach, while larger transport links and parks enhance its appeal for both living and investment.

Investment Analysis

(NR2 area)

Below Market Value

This property is priced -27.4% below area average per sq ft

-27.4%
Potential saving
This Property
£234/sq ft
Area Average
£322/sq ft
Avg Rent (weekly)
£327
Avg Yield
6.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £30,000
Target Value
£348,695
10% above area average per sq ft
Potential ROI
+34.1%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
35
Average per month
Market Turnover
19%
Properties sold annually

Local Market Trend (NR2)

Area prices are stable by -1.0% over the last 12 months
3 year growth: +7.7%
5 year growth: +8.1%
Investment Disclaimer: Analysis based on NR2 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

Nelson Street, Norwich NR2
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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
£815
Based on a loan of £172,500 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.

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