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Norwich Road, Thetford IP24

East of England

£350,000

Listed on 31/05/2026

Property Details

Bedrooms
4
Type
Detached Bungalow
Area
1286 sqft

Description

This four-bedroom detached bungalow is situated on an expansive plot, presenting a promising opportunity for renovation and investment. The property's adaptable layout features a dining room, a family bathroom, and a separate shower room, all designed with convenience in mind for a bustling household. The kitchen offers ample space for culinary creativity, while the inviting living areas provide a comfortable setting throughout the home. Located near local amenities and with straightforward access to the A11, this property is strategically placed for both daily life and commuting. Importantly, there is previous outline planning permission for the demolition of the existing dwelling and garage to build two new bungalows—a valuable asset for potential developers. The generous gardens front and rear add further appeal, making this bungalow a significant prospect for families or investors looking to maximise value through renovation.

Investment Analysis

(IP24 area)

Above Market Value

This property is priced +5.2% above area average per sq ft

+5.2%
This Property
£272/sq ft
Area Average
£259/sq ft
Avg Rent (weekly)
£269
Avg Yield
5.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£60,000 - £90,000
Target Value
£365,886
10% above area average per sq ft
Potential ROI
-16.8%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
25
Average per month
Market Turnover
15%
Properties sold annually

Local Market Trend (IP24)

Area prices are falling by -2.1% over the last 12 months
3 year growth: -5.8%
5 year growth: +8.1%
Investment Disclaimer: Analysis based on IP24 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

Norwich Road, Thetford IP24
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£1,322
Based on a loan of £262,500 over 30 years at 4.45% 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.

Stamp Duty Calculator

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