The address: 31 Frankfort Court, Rathgar Avenue, Dublin 6

The agent: Lowe & Associates

The property: one-bedroom apartment at €350,000

The look: first-floor unit in a mature redbrick complex

The landscape: well-maintained communal gardens with parking

The features: The apartment is bright with tall windows in the south-east facing livingroom and windows in both the kitchen and bathroom. There is an open fireplace in the good-sized livingroom. The bedroom is long rather than wide, with built-in wardrobes. There is additional storage in the attic. Annual maintenance fees are €1,200 and there is a designated parking space.

How much for an investor? An investor requiring a 90 per cent mortgage at PTSB tracker rate of 3.6 per cent over 20 years will have annual mortgage repayments of €22,117. Interest-only mortgage repayments would be €11,340. The shortfall when the rental income of €10,000 a year (calculated to allow for one month's costs and one month's void) is taken into account would be €12,117, while the shortfall on an interest-only mortgage would be €1,340. With a 41 per cent mortgage at a PTSB rate of 3.6 per cent over 20 years, an investor would break even.

How much to buy? A 90 per cent mortgage at PTSB tracker rate of 3.4 per cent will have annual repayment of €21,729. On an interest-only mortgage it would be €10,710.

Verdict: Located in a good rental area, this apartment will be of much interest to an investor happy to wait for long-term gains.

Calculations by Simply Mortgages