The address:20 Wadelai Road, Glasnevin, Dublin 11.
The agent:Gunne.
The property:a double fronted three-bedroom house with an asking price of €460,000.
The landscape:just off the Ballymun Road in Dublin 11, Wadelai Road is in a quiet residential area overlooking a green to the front. It is a five to 10-minute walk to Dublin City University - ideal for parents who want to buy for a college student.
The features:this well-presented family house is laid out over 88sq m (947sq ft) of space. It has a pleasant livingroom with polished floor boards and a decent kitchen with Belfast sink and French doors leading out to the garden, which is narrow but very long (at around 100ft). To the front there is off-street parking.
How much for an investor to buy?Investors will have to pay stamp duty of €23,450 on this property. Borrowing as an investor, the maximum loan-to-value ration would be 80 per cent - or €368,000.
Over 25 years on a tracker rate of 5.75 per cent the monthly repayments would be €2,311. On an interest-only basis the repayments would be €1,763 per month.
How much for a residential buyer?Purchasing as a first-time buyer the maximum loan-to-value ration would be 92 per cent - or €423,200. Over 35 years on a two-year fixed rate from AIB at 5.2 per cent the monthly repayments would be €2,184.
Potential:this house will rent for around €1,600 a month, according to the selling agent.
Verdict:a rental income of €1,600 would represent a rental yield of 3.9 per cent. But the price, like most things on the market at the moment, is open to discussion.
Calculations by Simply Mortgages
