The listed price of £550,000 for a building plot with planning permission needs more context for accurate evaluation. Whilst the nearby property sales data is unfortunately incomplete (missing sqft data), the available nearby listing prices of £489,000 to £600,000 for existing properties may suggest a reasonable price for a site that will yield two properties. However, without construction costs or final property values after completion, a precise assessment of value is challenging. It could be undervalued or overvalued; more detailed cost analysis and construction information are needed.

As the property is a building plot with planning permission, it is currently not in a habitable condition. The score reflects the fact that construction and finishing are yet to be done. Therefore, the condition is rated 1 until the project is complete. Further details on the quality of planned materials and construction would influence this score after completion.

The property is located in Challney, Luton, an area known for its good schools and relatively convenient access to transportation links. The proximity to several well-regarded schools (although Ofsted ratings are unavailable for all listed schools) and its location near Leagrave train station adds to its desirability. However, Luton itself can have some drawbacks, and more detailed information on the specific location within Challney is needed for a more precise evaluation. The proximity to the nearby streets also shows a mixed price range, which impacts the desirability of the location.

The planning permission shows the plot size is sufficient for building two houses and includes gardens. Although specifics are not provided, the plans suggest a reasonably substantial land area, especially in comparison to typical urban properties. The layout of the land and overall size warrant a score of 6.