Worth the investment?

The address: Mantua, Elphin, Co Roscommon.

The agent: Sherry FitzGerald Gallagher.

The property: eight-bedroom 557sq m (6,000sq ft) house for €295,000 which represents a cost of €529 per sq m (€49 per sq ft).

The look: extended country farmhouse, currently the Mantua Arts Centre.

The landscape: located in the scenic countryside of Elphin, 14.5 miles from Boyle and 13.5 miles from Carrick-on-Shannon. Mantua national school is 100 yards away.

The features: tree-lined property with its own brook and private well. It has a kitchen, utility room, well, four reception rooms, eight bedrooms and seven additional rooms used as gallery space.

How much for an investor? The repayments on a 85 per cent loan at an interest rate of 3.6 per cent (APR 3.66 per cent) over 25 years would be €1,266 per month. With an interest-only loan at the same rate, the repayments would be €825 per month.

How much for owner-occupier to buy? Over 35 years, at AIB's discounted tracker rate of 3.1 per cent (3.6 per cent) the repayments on this mortgage would be €1,151 per month for the first year.

At 92 per cent of the property price, at AIB's discounted tracker rate of 3.1 per cent (Apr 3.6 per cent) the repayments over 35 years would be €1,058 per month for the first year. Repayments at the standard variable rate of 3.75 per cent (APR 3.81 per cent) would be €1,159 per month.

Potential: it has previously been a barracks, nursing home and shop/post office and is currently an arts centre. Other possibilities include a guest-house or a family home for which it would need some refurbishment.

Verdict: could be a golden opportunity for someone looking to get away from it all and start their own business in the country.

• Calculations by AIB