The address: 10 Swiftbrook Park, Tallaght, Dublin 24.
The agent: Movehome.ie.
The property: three-bedroom terraced house for €315,000.
The look: unremarkable redbrick on the outside with a fairly predictable interior that could to with a freshen up.
The landscape: typical 1990s housing estate in the Mountain View area, which is on the Citywest side of Tallaght.
The features: an 88sq m (950sq ft) house. Two of the three bedrooms are double and the family bathroom is part tiled. The livingroom has a laminate floor, fireplace with built-in electric fire and double doors leading to the kitchen/breakfast room, which has a contemporary white fitted kitchen.
How much for an investor? The repayments on an 85 per cent mortgage at a buy-to-let tracker rate of 4.10 per cent APR over 25 years would be €1,427 per month. On an interest-only loan the repayments would be €915 per month.
How much for a residential buyer? At AIB's discounted tracker rate of 3.6 per cent APR, the repayments over 35 years would be €1,214 per month. Repayments at AIB's standard variable rate of 4.25 per cent APR would be €1,324 per month. On a 100 per cent mortgage at AIB's one-year discounted tracker rate of 3.6 per cent over 35 years, the repayments would be €1,320 per month for the first year.
Potential: this property could fetch a rent of €1,150-€1,200 per month, according to the selling agent.
Verdict: the rental return is just shy of meeting mortgage repayments on a 85 per cent annuity but would cover the interest-only mortgage.
Calculations by AIB
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