The address:60 Abbeyfield, Milltown Road, Milltown, Dublin 6.
The property:two-bed own-door apartment with a price tag of €485,000.
The landscape:this relatively low-density development in sleepy Milltown is in striking distance of Ranelagh, Donnybrook and Dundrum. Even more important is its proximity to the Luas - a 10-minute walk. From a rental point of view, it is convenient for access to UCD and Trinity College.
The features: this 57sq m (614sq ft) apartment has the benefit of its own door and comes to the market in very good condition. Accommodation comprises an entrance porch, decent livingroom, kitchen, two double bedrooms and a bathroom.
How much for an investor?At Bank of Ireland's investment rate of 5.8 per cent (APR 5.9 per cent) the monthly mortgage repayments will be €2,558 over 20 years or €2,293 over 25 years. This is based on a maximum loan of 75 per cent of the asking price. On an interest-only basis (two-year fixed) the repayments will be €1,825 a month. This is on a rate of 6.05 per cent (APR 6 per cent).
How much for an owner-occupier?An owner-occupier could get a maximum loan of €388,000 or 80 per cent of the asking price from the bank. On the bank's rate of 5.45 per cent (APR 5.6 per cent) monthly repayments will be €2,653 over 20 years or €2,365 over 25 years.
Potential?Rental income for this apartment will be around €1,500 a month. Service charges are €1,300 a year.
Verdict?Most likely to tempt an owner-occupier or a cash buyer looking for long-term gain.
• Calculations by Bank of Ireland
