The address:Rye Abbey, Connaught St, Kilcock, Co Kildare.
The agent:JJ Egan Auctioneers, Newbridge.
The property:two-bedroom apartment priced at €315,000 with 63sq m (680sq ft) of living space, due for completion this autumn.
The landscape:Rye Abbey is a smart new development of 52 houses and apartments by Barrack Homes in the middle of Kilcock close to the railway station.
The features:the apartment has a Shaker-style kitchen, livingroom, two bedrooms and one main bathroom. The price includes kitchen appliances, built-in wardrobes, tiling for bathroom and kitchen, and painting throughout. There is one car-parking space to the front of the property.
How much for an investor to buy?At Bank of Ireland's investment mortgage rate of 5.1 per cent APR, the monthly repayment will start out at €1,626.57 over 25 years, based on the maximum loan of 90 per cent of the asking price, or €279,000.
On an interest-only basis, the maximum loan will be 85 per cent of the price, or €263,500, giving a monthly repayment of €1,098.80 in the first two years under the bank's discount tracker.
How much for a residential buyer? An owner-occupier buyer opting for a 92 per cent loan would pay €1,565.75 a month over 25 years, based on Bank of Ireland's one-year discount tracker.
Potential:this apartment should get around €800-€900 a month in rent.
Verdict:Kilcock is a good rental area, located close to Maynooth and a 20-minute train journey from Dublin.
This apartment's location beside the train station should increase rentability.
Calculations by Bank of Ireland
