The address: 2 Eaton Place, Monkstown, Co Dublin.
The property: five-bedroom house (laid out as a three-bed over a self-contained garden level two-bed) with 293sq m (3,150sq ft) of space for €1.35 million (it first came on the market last September at €1.525 million). While needing some updating, the house has many pretty period details, Dublin Bay views and two off-street car-parking spaces to the rear.
The agent: Douglas Newman Good.
The landscape: within walking distance of Monkstown and Blackrock villages, the Dart and bus routes, the house is also a stone’s throw from the beach at Seapoint. It is in the heart of the dense network of pretty period streets between Monkstown Road and Seapoint Avenue.
How much for an owner-occupier? The maximum loan available with AIB is 80 per cent of the value or €1.08 million, leaving equity input of €270,000. To qualify, household income would need to be around €200,000 a year. Over 25 years, monthly repayments on a three-year fixed rate of 3.19 per cent with AIB are €5,229 while on a variable rate of 2.45 per cent with KBC/ICS, repayments work out at €4,818 a month.
How much for an investor? Stamp duty is €92,750. The maximum loan is 80 per cent of the value, or €1,080,000 – leaving equity input of €362,750. On a three-year fixed rate of 4.99 per cent over 25 years with KBC, monthly repayments work out at €6,307.
Potential? The garden level apartment would rent for around €1,400 a month and the entire for €3,000 a month, according to the agent
Verdict: suits an owner-occupier.
Calculations by Barry Sheridan, Chrome Capital, Fitzwilliam Square
– Justin Comiskey
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