The address: 4 Haddington Square (just off Haddington Road), Beggars Bush, Dublin 4.
The property: one-bedroom dual-aspect apartment of 47sq m (500sq ft) in cut-stone building dating to 1827 for €295,000 in well-maintained scheme. Located in the former Beggars Bush Barracks and with a designated car-parking spot, the ground floor apartment has many period features (high ceilings and late Georgian style picture windows) while the service charge is €1,700 a year.
The agent: Sherry FitzGerald.
The landscape: the apartment is within a short walk of the Dart, Ballsbridge and Sandymount while the city centre would be around 20 minutes away on foot. Recreational facilities nearby include the new soon-to-be-completed Lansdowne Road stadium, the RDS, Herbert Park and all the shops/restaurants of Ballsbridge and Baggot Street.
How much for an owner-occupier?A first-time buyer could get a 92 per cent mortgage, or €271,400, with AIB and would need income or around €43,000 to be offered this loan. Based on a 25-year term at AIB's variable rate of 2.65 per cent, monthly repayments work out at €1,237.58. This figure does not include the mortgage interest relief that first-time buyers would receive.
How much for an investor?Stamp duty would be €11,900. An investor could raise 75 per cent of the value, or €221,250, with AIB and this would work out as €1,281 per month over 20 years and €1,106 over 25 years. These figures are based on a one-year residential investment rate of 3.49 per cent.
Potential? The apartment would rent for around €1,000 a month, according to the agent.
Verdict: suits an owner-occupier.
Calculations by Simply Mortgages
– Justin Comiskey
