The property: new three-bed terraced house on three levels with 90sq m (969sq ft) for €269,950. The price includes fitted wardrobes in bedrooms, and a fitted kitchen with appliances thrown in if contracts are signed within 21 days. Car-parking is on-street.

The landscape: The Paddocks will eventually have 700 homes in a mix of houses, apartments and duplexes – 250 units are already occupied. It is within walking distance of the new town’s train station with its connection to Connolly and a number of bus routes. Adamstown is rapidly taking shape with infrastructure, such as schools, shops, crèches and transport links, coming on stream as the homes are built.

How much for an owner-occupier? First-time buyers could borrow 92 per cent of the price, or €248,354, with AIB. A single first-time buyer would require a salary of €50,000 to fund this over 25 years and a couple would need salaries of €25,000 each. At AIB’s one-year fixed rate of 2.4 per cent (APR 2.29 per cent) the monthly repayments on this mortgage would be circa €1,100 over 25 years. At a variable rate of 2.65 per cent (APR 2.68 per cent) monthly repayments would be €1,133 over 25 years.

How much for an investor? Stamp duty is €10,146. The maximum loan considered by AIB for an investment property is 75 per cent of the value over a maximum term of 25 years. The mortgage required at a 75 per cent loan-to-value is €202,463 leaving the investor requiring equity input of €67,487. At AIB’s buy-to-let standard variable rate of 4.2 per cent (APR 4.27 per cent), the monthly repayments on this mortgage would be €1,247 over 20 years and €1,089 over 25 years.

Potential? The house would rent for around €1,000 a month, according to the agent.

Verdict: suits an owner-occupier and/or investor but is ideal for a first-timer prepared to rent a room.

Calculations by AIB

– Justin Comiskey

The address: The Paddocks, Adamstown, Co Dublin

The agent: Douglas Newman Good.