Address:81 Ivy Court, Beaumont, Dublin 9.
Agent:Flynn & Associates.
Property:one-bedroom garden level apartment with an asking price of €307,000.
Landscape:located in a relatively new scheme at the back of Beaumont Woods and only a five-minute walk to Beaumont Hospital.
Features:this 47sq m (500sq ft) apartment may be small but it comes to the market in good condition with a living/dining/kitchen running the length of the unit and a reasonably large double bedroom. The apartment is being sold fully furnished and is in ready-to-let condition.
The development has communal car-parking.
How much for an investor?An investor could borrow 90 per cent of the asking price - or €276,300 - on a two-year fixed rate of 4.75 per cent with Permanent TSB, which would cost €1,574 per month over 25 years. The figure on an interest-only mortgage would be €1,093 per month. Stamp duty for an investor would be 5 per cent or €15,350.
How much for a residential buyer?A 92 per cent €282,440 mortgage would cost €1,239 over 40 years on a one-year fixed rate with First Active. On a 100 per cent mortgage it would work out at €1,396 a month on a two-year fixed rate of 4.58 per cent with Bank of Scotland over a 40-year term.
Potential:it should fetch a rent of around €1,000-€1,100 a month, according to the agent.
Verdict:a rent of €1,100 a month for this apartment would represent a yield of 4 per cent which, in today's market, is decent enough. The property's location beside Beaumont Hospital makes it a very rentable property.
Calculations by Simply Mortgages
