The address:3 Warwick Terrace, Ranelagh, Dublin 6.
The property:renovated redbrick in walk-in condition for €1.295 million. Three-bedroom mid-terrace house with 211sq m (2,270sq ft) with a large eat-in kitchen/conservatory and off-street car-parking to the rear behind electric gates. Gardens designed by Chelsea Flower Show medal winner Paul Martin.
The agent:Sherry FitzGerald.
The landscape: Warwick Terrace is on Sallymount Ave just off the Appian Way and a short walk to Ranelagh village. The house is close to a good selection of schools, shops and social facilities. The Luas and a choice of bus routes are within walking distance.
How much for an owner-occupier?AIB would give a first-time buyer a maximum loan of 92 per cent of the price, or €1,191,400. This leaves them requiring equity of at least €103,600. To qualify, a single buyer would need an income of €314,500 or a couple would need incomes of €145,000 each. At a one-year fixed rate of 3.59 per cent (APR 3.33 per cent), monthly repayments are €6,958 over 20 years and €6,017 over 25 years. At a variable rate of 3.49 per cent (APR 3.54 per cent) the monthly repayments are €6,898 over 20 years and €5,957 over 25 years.
How much for an investor?Stamp duty is €87,800. The maximum loan AIB would offer is 75 per cent of the price, or €971,250. This leaves an equity requirement of at least €411,550. At a variable rate of 4.2 per cent (APR 4.27 per cent), monthly repayments work at €5,983 over 20 years and €5,225 over 25 years.
Potential?As a high-end corporate let the house would rent for around €3,500 a month.
Verdict: suits an owner-occupier.
Calculationsby AIB
