The address:96 Knockmaree, Chapelizod, D20.
The agent:DNG.
The property:two-bed apartment for €335,000.
The landscape:two-and-a-half miles from the city centre, just off St Laurence Road in Chapelizod, Knockmaree is a large scheme built around 2000. The development of apartments and duplexes is close to the heart of the pretty village of Chapelizod and the Phoenix Park.
The features:measuring 70sq m (758sq ft), the apartment has a main living area, kitchen and two bedrooms. There are balconies off the main bedroom and the livingroom. Flooring throughout is laminate. There is one car-parking space.
How much for an investor to buy?Stamp duty on €335,000 for investors will mean a bill of €14,700. An investor could raise €268,000, which represents 80 per cent of the purchase price. On a full-payment basis this would work out as €1,597 per month over 25 years and €1,393 per month on an interest-only basis. These figures are based on a tracker rate of 5.2 per cent with First Active.
How much for a residential buyer?A first-time buyer could get a 92 per cent mortgage of €308,200 at a rate of 4.95 per cent (five-year fixed rate with First Active). Over 35 years this would mean repayments of €1,473 per month.
Potential:the apartment will achieve a rent of around €1,250 to €1,350, according to the selling agent. Annual service charges are around €1,900.
Verdict: always a good rental area, Chapelizod attracts young professionals looking for village life with easy access to the city. A rent of €16,200 per annum would represent a yield of 4.6 per cent.
Calculations by Simply Mortgages
