The address: 74 Neagh Road, Terenure, Dublin 6W.
The property: a two-bed terraced house asking €375,000.
The agent: Douglas Newman Good.
The landscape: Neagh Road is a residential area between Terenure Road North and Kimmage Road Lower and is in striking distance of services at both Kimmage and Terenure.
The features: the 60sq m (645sq ft) house includes a livingroom, kitchen, two bedrooms and a family bathroom. The house is in walk-in condition, after a restoration job, and nice details like original floorboards, fireplaces and picture rails remain intact. There's a cast-iron bath and outside is a good-sized garden.
How much for an owner-occupier?A first-time buyer could secure a mortgage of up to 92 per cent of the purchase price or €345,000 with Bank of Ireland. On the bank's one-year fixed rate of 2.45 per cent (3.5 per cent APR) the monthly repayments will be €1,538 over 25 years. Otherwise owner-occupiers could go with the bank's 12-month discount rate of 3.25 per cent which rolls to a variable rate of 3.6 per cent. On a maximum loan-to-value of 90 per cent the monthly repayments are around €1,643 over 25 years.
How much for an investor?On Bank of Ireland's variable rate an investor can get a mortgage of up to 75 per cent of the purchase price or €281,250. On a rate of 4.5 per cent (4.6 per cent APR) the monthly repayments will be €1,561 over 25 years. On an interest-only basis the repayments will be €1,109.
Potential?Rental income will be in the region of €1,050, according to the selling agent.
Verdict?Rental income falls short of mortgage repayments, making this house more suitable for an owner-occupier.
Calculations by Bank of Ireland
