The address:37 Pembroke Park, Ballsbridge, Dublin 4.
The property:five-bedroom period house for €1.95 million. It has 214sq m (2,303sq ft) of space, is in good condition and has ample off-street car-parking to the front.
The back garden is southwest-facing while four of the bedrooms are en suite and there are two set-piece reception rooms on the ground floor.
The agent:Beirne Wise.
The landscape:on a quiet tree-lined road between Herbert Park and Clyde Road, the house is a short walk from Herbert Park, Donnybrook and Ballsbridge villages, and is near good public transport routes. There is also a good choice of schools, shops and social facilities within easy reach.
How much for an owner-occupier?An owner-occupier could get a maximum loan of 85 per cent of the price, or €1,657,500, with BoI or AIB. To qualify, the household income would need to be around €390,000. Stamp duty is €146,750. This leaves an equity requirement of at least €439,250.
Over 25 years at BoI’s variable rate of 3.3 per cent, monthly repayments are €8,121 while at AIB’s three-year fixed rate of 3.89 per cent repayments are €8,649 a month.
How much for an investor?An experienced investor, with strong independent residual income after paying all existing commitments and in a good occupational sector with income sustainability, could get an 80 per cent loan, or €1.56 million, with KBC or BoI.
This leaves them requiring equity of at least €536,750. Over 25 years at KBC’s variable rate of 4.5 per cent repayments are €9,213 a month and at BoI’s two-year fixed rate of 4.25 per cent monthly repayments are €8,979.
Potential?The house would rent for around €3,500 a month as a high-end corporate let.
Verdict:suits an owner-occupier.
- Calculations by Barry Sheridan, Chrome Capital Ltd, Fitzwilliam Square, Dublin 2
– Justin Comiskey
