The address: 35 Cairn Court, Poppintree, Ballymun, Dublin 11.

The agent: Mason Estates.

The property: Three-bed mid-terrace house for €250,000. This represents a cost of €3,086 per sq m (€287 per sq ft).

The look: former local authority house with small unevenly spaced windows. Could look better.

The landscape: this former local authority house was built as part of old Ballymun but is now part of the new Ballymun with all its amenities.

The features: the 81sq m (872sq ft) property has an extended porch to the rear and a concrete area with parking for several cars.

The accommodation includes a kitchen/diningroom with a marble fireplace with tiled hearth and fitted gas fire. Double doors lead to a lounge with a laminate wood floor. Small walled garden to the front.

How much for an investor? On a 90 per cent mortgage at a 3.75 per cent tracker rate, the monthly repayments over 20 years would be €1,332.63 per month and over 25 years would be €1,155.36 per month. On an interest-only loan the repayment would be €623.06 per month.

How much for an owner-occupier? The repayments on a 92 per cent mortgage at a 3.55 per cent tracker rate over 25 years would be €1,156.31 per month and over 30 years would be €1,037.88.

The potential: within a half an hour's bus journey from the city centre. The house should fetch €1,100-€1,200 per month rent, according to Mason Estates.

The verdict: investors are looking at parts of Ballymun with new eyes because it is still relatively affordable.

With a new shopping centre and a host of new facilities to be built, it is likely that property values in the area will benefit but there are lots of new apartments in the area competing for tenants.

Calculations by Bank of Ireland