13 June 2012: asking €495,000
Wow a beautiful house. And only a short stroll to the Botanic Gardens (a real hidden gem, much better than the Phoenix Park).
Lets try and get a value.
Nearest comparison is renting for €1,500 a month. I’ll give this house a minimum €300 premium on it.
€1,800 x 12 months x 6% Yield = €360k
At €495k that’s €260 per sf. €200 per sf would give a value of €381k. Others on this site are better at valuing per sf and it’s only something I’ve started looking at recently so a caveat on this value.
Everything to me is saying this should go for less than €400k.
I think you have over-played the Mountjoy/Mater cards…both would be a kilometre away more or less…there would be no overlap there. Iona/Lindsay road are closer to Mountjoy than this place, and I never see it mentioned in relation to those. Ditto Arbour Hill prison…am I missing something? Have prisoners been escaping…Arbour Hill is about a mile way from this…and I am not aware of any anti-social behaviour relating to Arbour Hill…
True, the NCR is not the salubrious, but I think to be fair the worst stretch is up by the Phoenixpark, not at this end.
The negatives for this place are…
Phibsboro is not up to much as a village…the new Tesco on the Navan Road has made it more so.
The surrounding streets, furthe towards Grangegorman, are a bit isolated. Specifically, the road and the area are caught between two train tracks (neither in use of course) and that means its very quiet…hardly any traffic on Rathdown…can be a good thing during the day, but at night it would be too isolated for my liking. However that may change when Grangegorman is redeveloped into the DIT campus…(though it may not change also).
Lovely street, lovely road. The same house in Ranelagh would cost you a million. The same house in Glasnevin would cost you €650k.
So assuming this goes for €450 ish…you can therefore value the premium of being in Ranelagh or Glasnevin.
But I guess, for the quality of the house, it is a positive that there are no anti-social elements in the immediate vicinty.
Get real! You might not be more than a mile from Mountjoy, but you’re surrounded by future inmates - take a look around the neighborhood after 6Pm - if you can negotiate the rush hour traffic…for 495K Much better value on southside for that kind of money. Unknown estate agent telling the vendor what they want to hear.
myhome.ie/residential/dublin … &minbeds=3
Surrounded by future inmates? Do you mean the primary school five mins walk down the road? The entirely middle class Educate Together? those future inmates…
You are right of course…much better value on the southside…just by being on in SCD it would have to be better.
As for rush-hour traffic, this is one of the quietest roads I know…very little traffic, apart from the school run.
Yeah, not unless Cathal MacCoille’s kids and those of the half-dozen barristers living on this street are going to be clogging up the Joy in the next 15 years. Some people see an odd number in a Dublin address and it only conjures images of hypo syringes and De Oul’ Triangle.
its our detroit…or mogadishu.
I live parallel to this road & I’m gonna jot down a few thoughts about the area.
Only really decent school I know of in this area is the Educate together,
which my daughter goes to and it and is really very good. Lovely people, nice set up and great teachers.
Problem is that it only goes up as far as primary and then you’re left with limited options.
DIT campus coming soon, this it’s gonna be about 70k students, (not sure about numbers) arriving around the area
over the next 3-5 years. I will not be living here by this point I can assure you.
Area does **not **feel safe at night. It just doesn’t. Walk up the Grangegorman road after 11 and see how you feel about it.
It’s dark and isolated.
LOT of odd fuckers walking about during day and night. Prob from the hospital, maybe from surrounding areas, but odd all the same.
Decent amount of knackers strolling around day and night. Mostly coming from NCR trough to town I think but there is a good bit of knacker traffic.
Automotive traffic IS awful too. Maybe not on this exact road but the minute you try to get off it at either end (smithfiled or NCR) it’s crammed.
Getting home or out is a nightmare from any direction imo.
People in the area are generally lovely, good community spirit. Street parties etc.
1/2mm for a 4 bed mid-terrace house in the area, mother of God! I don’t care how well it’s finished.
this sold for the full asking price. There’s lots of young families in the area and not so many decent size, nevermind large, houses in the area, particularly on quiet roads. So I guess for someone settled in the area its a premium worth paying.
Cheers, thanks for the update. I actually missed the house when first posted, so just looked at now. I guess 495 seems a bit dear to me, but not off the scale.
I’m bearish, don’t get me wrong, but when I compare this price to PPR records for Lindsay Road a year ago, I wonder if there is an uptick in the market. In the long run, the data will tell the story.
Out of interest, what’s the (apparently) waste ground at the back of this house? I hadn’t looked into the area with Google Maps before and now that I have I’m wondering what the “sandpit” at the back is
It is land that goes down to Broadstone. I found it on Dublin city planning before. There is planning permission approved to build a complex with houses and apartments. I remember thinking that the builder was in Nama and imho it might just be part of the land valuing tricks that people are doing these days. No sign of builders on it anyway.