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Lutton, Ivybridge, Devon, PL21

South West

£445,000
Listed on 01/04/2025

Property Details

Bedrooms
3
Type
Detached
Area
1122 sqft

Description

Nestled on a generous corner plot, this traditional detached cottage presents a remarkable opportunity for those looking to invest in a unique rural property. Burnt House features an accompanying single-storey barn that previously held planning permission for conversion, signaling its potential for expansion and creative redevelopment subject to renewals. The interior of the cottage is well-maintained, featuring a spacious sitting room with charming exposed stone walls and a wood-burning stove, perfect for cosy evenings. The dining area flows seamlessly from the sitting room and overlooks the tranquil front aspect. At the back, the kitchen contains essential fixtures along with ample space for appliances and direct access to the expansive rear garden. Ascending to the first floor reveals three generously sized bedrooms accompanied by a modern family bathroom equipped with both a bath and separate shower. Set within the picturesque village of Lutton in Dartmoor National Park, this property enjoys fabulous access to surrounding countryside while remaining conveniently close to local amenities in Ivybridge and Plympton. Families will appreciate nearby primary schools as well as access to Ivybridge Community College. The exterior boasts extensive outdoor spaces ideal for further development or landscaping projects (subject to planning) with off-road parking capabilities and multiple outbuildings including a sizeable barn ripe for renovation or repurposing into additional living space.

Investment Analysis

(PL21 area)

Above Market Value

This property is priced +22.0% above area average per sq ft

+22.0%
This Property
£397/sq ft
Area Average
£325/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£60,000 - £100,000
Target Value
£401,238
10% above area average per sq ft
Potential ROI
-26.4%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
21
Average per month
Market Turnover
17%
Properties sold annually

Local Market Trend (PL21)

Area prices are stable by -1.7% over the last 12 months
3 year growth: -4.2%
5 year growth: +9.5%
Investment Disclaimer: Analysis based on PL21 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

Lutton, Ivybridge, Devon, PL21
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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
£1,576
Based on a loan of £333,750 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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