The address:80 Tolka Vale, off the Old Finglas Road, Dublin 11.
The agent:Douglas Newman Good.
The property:two-bedroom second floor apartment of 58sq m (620sq ft) priced at €330,000.
The landscape:Tolka Vale is a well maintained scheme of apartments and penthouses on the banks of the River Tolka, located between Glasnevin and Finglas off the Old Finglas Road. Glasnevin Cemetery is down the road, Clearwater shopping centre is up the road and Phibsboro a mile away.
The features:the apartment comes to the market in very good condition and features a Shaker-style kitchen, a bright livingroom with laminate wood flooring, fireplace and patio door to balcony, two bedrooms and bathroom.
How much for an investor to buy?At AIB's buy-to-let tracker mortgage rate of 4.85 per cent, the monthly repayments will start out at €1,613 over 25 years, based on the maximum loan of 85 per cent of the asking price, or €280,500.
On an interest-only basis, the monthly repayments would be €1,134 on the bank's tracker mortgage.
How much for a residential buyer?A first-time buyer opting for a 100 per cent loan would pay €1,528 a month over 35 years, based on AIB's one-year discount tracker.
First-time buyers borrowing 92 per cent of the property price would pay €1,406 a month over 25 years.
Potential:it should get around €1,100 a month in rent, according to the selling agent.
Verdict: Tolka Vale is in a good rental area, close to the city and the M50, and has been a popular buy for investors over the years. Those on an interest-only mortgage will not quite clear their monthly payments and that's not taking into account maintenance fees of €1,500 and other costs, such as furniture and insurance.
Calculations by AIB
