The address:167 Aylmer Park, Naas, Co Kildare.
The agent:Gunne.
The property:three-bedroom semi for €365,000.
The landscape:Aylmer Park is off the Monreed Road close to the M7. The Arrow train service is about half a mile away and the town centre is a 25-minute walk. The scheme of some 300 units was built around 10 years ago.
The features:this family house has 103sq m (1,109sq ft) of living space with a traditional layout - livingroom to the front and large kitchen to the rear. The dining area of the kitchen features handsome hardwood flooring reclaimed from a French convent. There are three generous bedrooms upstairs (one en suite). Outside there is parking for two cars and the rear garden is laid out in lawn and has a garden shed.
How much for an investor to buy?Stamp duty on €365,000 will be €16,800 for investors bringing the acquisition costs to €381,800. An investor could raise €310,250, representing 85 per cent of the purchase price. On a full payment basis this would work out as €1,765 per month over 25 years and €1,470 per month on an interest-only basis. These figures are based on a one-year fixed rate of 4.74 per cent with First Active.
How much for a residential buyer?A first-time buyer could go for a 92 per cent mortgage of €335,800 at a rate of 4.74 per cent (one-year fixed with First Active). Over 35 years this would mean a repayment of €1,638 per month.
Potential:this house will achieve a rent of €1,250, according to the selling agent.
Verdict:the rental market in Naas is strong with high demand from commuters and young people living locally. On a rent of €1,250 per month this would represent a yield of around 3.9 per cent.
Calculations by Simply Mortgages
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