The address:Mount Rivers House, Newport, Co Tipperary.

The agent:John Lee and son Real Estate Alliance

The property:this Georgian country house, which has more than 20 rooms, is in need of complete restoration. It is set on 21 acres and costs €1.25 million.

The landscape:the house is in an elevated position with views of surrounding countryside and extensive road frontage. Newport is a mile away and Limerick is nine miles from here. The lake shore area of Lough Derg is a short drive away.

Features:Built circa 1860, the ground floor has three reception rooms with fireplaces and solid wooden floors, a kitchen and a study, the first floor has six bedrooms and a bathroom and the second floor has a further four rooms.

At basement level there are seven rooms and a kitchen. Old stone outbuildings to the rear of the property are in need of renovation .

How much for an investor to buy: on an 85 per cent mortgage over 25 years at a buy-to-let tracker rate of 5.21 per cent APR, the repayments would be €6,258 a month.

For this mortgage the repayment for an interest-only mortgage would be €4,516 a month.

How much for a residential buyer: If borrowing 100 per cent of the property price: a single buyer would require a salary of €321,000 to fund this mortgage over 35 years. A couple would require minimum income of €155,000 each to fund this mortgage over 35 years

On a one year discounted tracker rate of 4.96 per cent APR, the repayments on this mortgage would be €5,975 a month for the first year.

Repayments at the standard variable rate of 5.21 per cent APR would be €6,375 per month.

If borrowing up to 92 per cent of the property price, a single first-time buyer would require a salary of €294,000 to fund this mortgage over 35 years.

A couple would require minimum incomes of €142,000 each to fund this mortgage over 35 years.

Repayments at a standard variable rate of 5.21 per cent APR would be €5,865 per month.

Potential:the land is limestone and is suitable for farming. There's extensive road frontage which the agent reckons may lend itself to very small scale residential development subject to planning permission. Other possible uses could be a country house hotel or retreat centre.

Verdict: The agent says around 70 per cent of people viewing the property so far have been from residential buyers looking to refurbish it and increase its value while the remainder have been business people looking at turning it into a guest house or hotel.

Calculations by AIB