The address:45 Ailesbury Mews, off Sydney Parade Avenue, Sandymount, Dublin 4.
The property:one-bedroom semi-detached bungalow with 44sq m (481sq ft) of living space for €350,000. It comes with designated car-parking and there's a good-sized communal back garden. The annual service charge is €650 and, while the property is in good condition, it could do with having its kitchen and bathroom updated.
The agent:Douglas Newman Good.
The landscape:a short distance to Sandymount village and strand with the Dart a stroll, this property is in an area close to the city yet feels totally suburban. Merrion village and St Vincent's Hospital are also within walking distance.
How much for an owner-occupier?The best loan-to-value rate an owner-occupier could get is 92 per cent of the price, or €322,000, with AIB. To qualify, you would need a joint income of €62,000 or a single income of €70,000. The best rates over 25 years would be a variable rate of 2.65 per cent (monthly repayment €1,468.99); a one-year fixed rate of 2.4 per cent (€1,428.38 a month); a two-year fixed rate of 2.8 per cent (€1,493.68 a month); a three-year fixed rate of 3.19 per cent (€1,558.97 a month); or a five-year fixed rate of 3.86 per cent (€1,674.84 a month).
How much for an investor?An investor would get a 80 per cent mortgage, or €280,000, with KBC and also faces stamp duty of €15,750. At a variable rate of 4.29 per cent over 20 years monthly repayments work out at €1,738.80 and €1,523.14 over 25 years.
Potential?The house would rent for around €1,000 a month, according to the agent.
Verdict:while in a good rental location, the figures suggest it suits an owner-occupier, maybe someone trading down or needing a base in the city.
- Calculations by Ben Rance, Simply Money
