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Mill Meadow, Ivybridge

South West

£215,000
Listed on 04/10/2025

Property Details

Bedrooms
3
Type
Terraced house
Area
802 sqft

Description

Nestled near the historic paper mill, this ex-Local Authority home presents a solid opportunity for both first-time buyers and seasoned investors looking to capitalize on renovation potential. This property offers a structured layout and ample space that invites a personal touch, transforming it into an ideal living space. Upon entering, you will find a welcoming vestibule porch leading into the spacious sitting room, which features convenient under-stair storage. The kitchen is well-sized and equipped with an integrated oven and hob, along with sufficient space for additional appliances and cabinetry. The family bathroom is located on the ground floor for easy access. Upstairs, you will discover three bedrooms, two of which are generously sized doubles complete with built-in storage solutions. Each room provides a blank slate that can be tailored to suit modern tastes and needs. Outside, the property boasts a private south-facing garden surrounded by walls that enhance privacy. This lush lawn area is complemented by raised beds and leads to a walled courtyard predominantly laid to patio—ideal for outdoor entertaining or relaxation. Additionally, there is access from the courtyard to Harford Road through a convenient pedestrian gate. For further utility, a block-built shed sits at the rear of the garden. This home has been loved in the past but now awaits rejuvenation that could reveal its full potential. With no onward chain, it’s easily accessible for prospective buyers eager to make their mark on it. The location itself enhances this property's appeal; Ivybridge offers family-friendly amenities alongside its fascinating history rooted in traditional industries like milling and cloth making. Surrounded by picturesque countryside and moorland, residents can enjoy extensive walking trails right from their doorstep. The town center is within walking distance and features various shops, eateries, pubs, and supermarkets. Families will benefit from being within reach of good primary schools and the esteemed Ivybridge Community College. Local health services such as GP surgeries and leisure facilities—including swimming pools—are also readily available. Community life thrives here with numerous clubs catering to sports enthusiasts as well as cultural activities offered at places like the Watermark. With excellent transport links via its own train station connecting to Plymouth, Exeter, and London, this property not only represents residential comfort but also strategic investment potential in a vibrant community setting.

Investment Analysis

(PL21 area)

Below Market Value

This property is priced -17.8% below area average per sq ft

-17.8%
Potential saving
This Property
£268/sq ft
Area Average
£326/sq ft
Avg Rent (weekly)
£255
Avg Yield
4.2%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£20,000 - £35,000
Target Value
£287,685
10% above area average per sq ft
Potential ROI
+15.1%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
23
Average per month
Market Turnover
23%
Properties sold annually

Local Market Trend (PL21)

Area prices are rising by +6.4% over the last 12 months
3 year growth: 1.3%
5 year growth: 20.4%
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

Mill Meadow, Ivybridge
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£788
Based on a loan of £161,250 over 30 years at 4.19% 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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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE