The address:9 Coppinger Glade, Blackrock , Co Dublin.
The property:
Two-bedroom townhouse for €320,000. It has 66sq m (710sq ft) of space, is in good condition and has leafy aspects to the front and rear. There is off-street car-parking in the front garden, plenty of visitor parking in the development and the livingroom has a feature gas inset fire.
The agent:
Beirne Wise.
The landscape:
Coppinger Glade is within walking distance of Stillorgan village and the Stillorgan Road and its QBC. Blackrock village, with its shopping and leisure facilities (and the Dart), is a fair 15-minute clip on foot. There’s a good selection of schools and parks nearby while UCD is a short cycle away. A mature and settled southside location with good transport links.
How much for an owner-occupier?
A first-time buyer could get a 92 per cent mortgage, or €294,400, through AIB – this leaves them requiring equity of at least €25,600. To qualify, a single buyer would need a salary of €64,000 or two individuals require salaries of around €31,500 each. At AIB’s one-year fixed rate of 3.59 per cent (APR 3.33 per cent), monthly repayments work out at €1,719 over 20 years and €1,487 over 25 years. At AIB’s variable rate of 3.49 per cent (APR 3.54 per cent), monthly repayments are €1,705 over 20 years and €1,472 over 25 years.
How much for an investor?
Stamp duty is €13,650. The maximum loan considered by AIB for an investment property is typically 75 per cent of the value – in this case €240,000 – and the maximum term is typically 25 years. This leaves the investor requiring equity of at least €93,650. At AIB’s buy-to-let variable rate of 4.2 per cent (APR 4.27 per cent), monthly repayments on this mortgage are €1,478 over 20 years and €1,291 over 25 years.
Potential?The house would rent for around €1,200 a month.
Verdict:suits an owner-occupier, or a first-timer willing to let out a room.
- Calculations by AIB
– Justin Comiskey
