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Costessey NR5

East of England

£225,000
Listed on 04/04/2026

Property Details

Bedrooms
3
Type
Detached Bungalow

Description

Presenting a noteworthy opportunity for investors or renovators, this three-bedroom chalet bungalow in the sought-after area of New Costessey is available with no onward chain. This property requires comprehensive renovation, making it an ideal project for those aiming to create a personalized family residence. Nestled on a generous plot, the home benefits from picturesque views at the rear, enhancing its appeal as a potential transformative project.

The accommodation spans two floors with a flexible layout. The ground floor features an inviting entrance hall leading to key living areas, including a bright sitting room accented by a bay window flowing seamlessly into a dining area—perfect for social gatherings. Two sizable double bedrooms include a principal bedroom that enjoys lovely bay views. At the rear, the expansive kitchen/dining room overlooks the garden and has considerable potential for reconfiguration; it also provides access to a lean-to conservatory. Completing this level are a bathroom and separate WC. The first floor houses another double bedroom and significant loft space that could be further developed, subject to obtaining necessary permissions.

Externally, the property showcases a charming lawned front garden leading to the entrance. The rear plot has exciting possibilities as it comes with approved planning permission (Ref: 2023/0227) for three additional dwellings to the rear of Gurney Road, which adds valuable investment potential. With plans to remove the existing garage and create new access along with defined boundaries and an updated garden layout extending where the garage currently sits, this property offers not just renovation but creative development opportunities.

Investment Analysis

(NR5 area)
Area Average
£284/sq ft
Avg Rent (weekly)
£429
Avg Yield
8.1%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£60,000 - £90,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
25
Average per month
Market Turnover
11%
Properties sold annually

Local Market Trend (NR5)

Area prices are falling by -6.0% over the last 12 months
3 year growth: -9.0%
5 year growth: +3.4%
Investment Disclaimer: Analysis based on NR5 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

Costessey NR5
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Mortgage Calculator

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£
£
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years

Current average 2-year fixed rate is 3.91%

Current average variable rate is 6.62%

Monthly Repayments
£797
Based on a loan of £168,750 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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