The address:7 Prince of Wales Tce, Ballsbridge, D4.
The property:three-bed mid-terrace house for €795,000. The 175sq m (1,885sq ft) house has off-street car-parking to the front and a 55ft back garden. It is in good condition, has period features and a modern rear extension giving access to the garden.
The agent:Sherry FitzGerald.
The landscape:The house is a short walk from the Dart, Merrion Road and Ballsbridge village in a mature residential area and is close to schools, retail and leisure facilities.
H ow much for an owner-occupier?A first-time buyer could get a mortgage of 90 per cent, or €715,500, with AIB so would need equity of at least €79,500. To qualify, the household income would need to be around €159,000 a year. Over 25 years at a variable rate of 2.99 per cent, monthly repayments work out at €3,389.
How much for an investor?Stamp duty is €46,900. An investor could get a 75 per cent mortgage, or €596,250, with AIB provided their annual income is circa €350,000 from a "good occupation sector with income sustainability" and no other loans. They would need at least €245,650 equity. At a variable rate of 4.2 per cent monthly repayments work out at €4,412 over 20 years and €3,856 over 25 years.
Potential?The house would rent for between €2,500 and €3,000 a month.
Verdict:More suitable for an owner-occupier.
- Barry Sheridan, Chrome Capital Ltd, Fitzwilliam Square, D 2
- JUSTIN COMISKEY
