The address: 8 Park House, Patrick Street, Dublin 8.

The property:one-bed second floor apartment asking €225,000.

The agent: Allen Jacobs Estates.

The landscape: these apartments date back 15 years or so but have a great position close to all the city centre hot spots. The apartment overlooks a courtyard area to the rear of the scheme and St Patrick's Cathedral and St Patrick's Park are just across the road.

The features:laid out over 38sq m (408sq ft) number 8 is a standard early 1990s apartment with entrance hall, livingroom, kitchen, double bedroom and bathroom.

How much for an investor?

The maximum loan AIB would consider for an investment property is 85 per cent of the value, with up to 100 per cent LTV considered for portfolio investors, subject to overall LTV of portfolio not exceeding 75 per cent. The maximum term is 25 years.

At AIBs buy-to-let five-year fixed rate of 5.75 per cent (APR 5.55 per cent), the repayments would be around €1,201 per month.

On an interest-only loan basis (at 85 per cent LTV) the repayment would be around €829 per month (based on AIB's variable rate of 5.2 per cent, APR 5.31 per cent).

How much for an owner-occupier?

A first-time buyer borrowing up to 92 per cent of the property price would require a salary of around €40,000 to fund this mortgage over 35 years. A couple would require minimum incomes of around €22,000 each to fund this mortgage over a similar time span.

At AIBs two-year fixed rate of 5.2 per cent (APR 5.13 per cent) the repayments on this mortgage would be around €1,068 per month. Repayments at the bank's standard variable rate of 5 per cent (APR 5.1 per cent) would be around €1,041 per month.

Potential: not the most glamorous of properties, No 8 Park Place has a great city location and will rent easily. It will rent for around €1,100 a month. Maintenance fees are €1,450.

Verdict: this property came on the market about two months ago priced at €245,000. Whether this price drop or the fact that the rent will more than cover an interest-only mortgage is enough to tempt an investor out of hibernation in these uncertain times is the million dollar question.

Calculations byAIB