Worth the investment

The address: 11 de Vesci Terrace, Monkstown, Co Dublin.

The property: two-bedroom high-spec townhouse with 79sq m (850sq ft) of space for €590,000. Coming with a key to the private de Vesci Gardens, the house has a gas-fired Aga, detached guest annexe with second bedroom and en suite, private courtyard, original sash glazed windows, pretty period fireplace in the livingroom and a fine open-plan kitchen. There is on-street car-parking

The agent: Douglas Newman Good.

The landscape: within walking distance of Dún Laoghaire town centre and Monkstown village, there is easy access to the Dart, bus routes, schools, retail and leisure facilities. Good sea walks at the nearby West Pier.

How much for an owner-occupier? A non first-time buyer could borrow up to 92 per cent of the price, or €542,800, so they’d need equity input of €47,200. To qualify for a single applicant needs an income of €108,000 and two individuals require incomes of €54,000 each. Non first-time buyers pay stamp duty of €32,550. Repayments on a variable rate with AIB of 2.65 per cent (APR 2.68 per cent), would be €2,475.17 a month over 25 years. On a two-year fixed rate of 2.8 per cent with AIB (APR 2.84 per cent) the monthly cost is €2,518.60 over 25 years.

How much for an investor? On a loan-to-value rate of 80 per cent, or €472,000, over a maximum term of 25 years, a purchaser would require equity input of €118,000 and stamp duty of €32,550. Based on an investment variable rate of 4.45 per cent with ICS (APR 4.5 per cent) over 20 years the monthly cost would be €2,973 and over 25 years €2,610.16.

Potential? The house would rent for €1,300 to €1,400 a month, according to the agent.

Verdict: suits owner-occupier looking for home and office.

Calculations by Annette Moore, MMPI, Donnybrook

– Justin Comiskey