This week: Tyrrelstown
Address: 30 Curragh Hall Green, Tyrrelstown, Dublin 15
Agent: Property Partners Mason Estates
House type: Three bedroom end of terrace house at €235,000.
What do you get? Approximately 930 sq ft (86 sq m) with a livingroom with a double door to the rear garden. It also has a guest toilet and kitchen/diningroom on the ground floor. Upstairs there are three bedrooms, one of which is en suite, and a main bathroom. All of the bedrooms have fitted wardrobes. The garden has a shed and there are two designated parking spaces to the rear of the property.
Where: Tyrrelstown is a scheme of over 2,000 houses and apartments near Mulhuddart Village and Ballycoolin industrial estate. It is also a short car journey from Blanchardstown shopping centre and is located between two golf courses with quick access to the motorway . One of few estates with its own website, www.mytyrrelstown.com, it was built by four major house-builders in seventy different house designs.
A 14-acre village centre with shops, a pub and restaurant and a medical centre will form a central focus. A school and hotel are also planned. The 38C bus route runs from Blanchardstown to Tyrrelstown.
What will it cost an investor to buy?:
Based on a 68 per cent mortgage over 25 years at a rate of 3.45% , the repayment figure is €796.71 per month ,
The total amount payable over term is €239,245.02 .
An interest only mortgage would involve repayments of €460 per month with total amount payable over term €298,235.68
What will it cost to buy? At a homeload rate of 3.15% the repayment would be €771.28 per month with total amount payable over term €231,595.88
Stamp duty: €9,400 for an investor/trader upper. €7,050 for a first time buyer
Solicitor's fees: Traditionally one per cent of the purchase price plus land registry fees and vat. However some solicitors are willing to negotiate a fixed fee.
Service Charge:
Potential: There is a high percentage of IT professionals living in Tyrrelstown. Rental return on three-bed house in Tyrrelstown is region of €1,050 per month - a reasonably good return for an investor dependent on rental yield to pay the mortgage. However competition for tenants is stiff in the area. Tyrrelstown itself is vast and there are several largehousing estates nearby,and more under construction. However, Tyrrelstown has the edge because it is close to Ballycoolin Industrial estate.
Verdict: Decent rental return but capital appreciation may be hampered by the number of new houses in the area with property values remaining steady over the last six months and properties taking longer to sell.
Mortgage calculations by Ulster Bank.
