The address:10 The Tenterfields, South Brown Street, The Liberties Dublin 8.
The agent:Douglas Newman Good.
The property:a two-bedroom townhouse with an asking price of €425,000.
The landscape:Tenterfields is a modern, well-maintained development just off South Brown Street, near Cork Street in the Liberties. The well-maintained gated development was built in the late 1990s and comprises around 20 houses and 40 apartments. In the heart of the Liberties, Dublin city centre is within walking distance and the Luas is nearby.
The features:the 63sq m (676sq ft) house is in good condition and is being rented out. It has a livingroom to the front of the house with a fireplace and gas fire, and a living/dining area to the rear. There are two good-sized doubles upstairs as well as the family bathroom. To the rear is a 27ft garden. There is one allocated car-parking space to the front. The annual service charge is around €500.
How much for an investor to buy?At AIB's buy-to-let tracker mortgage rate of 5.1 per cent (APR 5.21 per cent), the repayments on a loan equivalent to 85 per cent of the asking price - a sum of €361,250 - would be €2,218 a month over 25 years. Where an investor has three or more investment properties with AIB, the pricing will be individually negotiated. On an interest-only mortgage, based on the same rate and term, the repayments would be €1,535 a month.
How much for a residential buyer?A single first-time buyer would need a salary of €99,500 to fund a 100 per cent mortgage over 35 years, while a couple would need to earn around €44,000 each.
Based on AIB's one-year discount tracker rate of 4.6 per cent (APR 5.15 per cent), the loan would cost €2,203 a month for the first year.
On the bank's standard variable rate (SVR) of 5.1 per cent, the repayments would then be €2,168 a month. On a 92 per cent loan of €391,000, the monthly repayments would be €1,869 in the first year and €1,994 based on the SVR.
Potential:this house should get around €1,400 a month in rent, according to the selling agent.
Verdict:a top rental area, owners should have no problem getting tenants.
Calculations by AIB
