The address:27 Priory Road, Harolds Cross, Dublin 6W
The property:three-bed semi-detached house for €375,000. In a quiet location, it overlooks a decent-sized green to the front, has a good-sized southwest-facing rear garden and comes with 85sq m (915sq ft) of space. The house, which has been extended to the rear, has many pretty details and is in good condition.
The agent: Douglas Newman Good.
The landscape:the villages of Harold's Cross and Terenure are within walking distance, as are bus routes into town (St Stephen's Green is 2.5 miles away). Good selection of schools, social and retail facilities close at hand.
How much for an owner-occupier?A first-time buyer could get a 92 per cent mortgage, or €345,000, with Bank of Ireland. To qualify the household income would need to be around €77,000 and the buyer would need equity of at least €30,000. At a one-year fixed rate of 3.1 per cent, monthly repayments are €1,654 over a 25-year term. At a variable rate of 3.35 per cent, repayments work out at €1,700 a month.
How much for an investor?Stamp duty is €17,500. An investor could get a maximum mortgage of 80 per cent, or €300,000, through Bank of Ireland and KBC. This would be offered to experienced investors who have strong independent residual income after paying all existing commitments and who are in a good occupation sector with income sustainability. This leaves them requiring equity of at least €92,500. Over a 20-year term, monthly repayments at Bank of Ireland's two-year fixed rate of 4.9 per cent are €2,258 and €2,183 on KBC's variable rate of 4.5 per cent. Over a 25-year term, monthly repayments on Bank of Ireland's two-year fixed rate of 4.25 per cent are €1,869 and €1,918 on KBC's variable rate of 4.5 per cent.
Potential?The house would rent for around €1,500 a month.
Verdict: suits an owner-occupier.
* Calculations by Barry Sheridan, Chrome Capital Ltd, Fitzwilliam Square, Dublin 2
