25 Upper Erne Street (-240k, -30.4%)

This was €670 and it was withdrawn and re-listed (perhaps to avoid being picked up by MySpace reports):

myhome.ie/search/property.as … earchlist=

Now re-listed at €620

myhome.ie/search/property.as … earchlist=

Change of EA is why they have a new listing ID. Seeing a lot of this recently.

Oh yeah you’re right - I’m actually not surprised they changed in this case, it has a muct better write up by the new EA.

The previous EA was listing it as a 1-bed house when the unit is actually currently split into two 1-bed apartments which is completely different.

According to irishpropertywatch.5gbfree.com/i … 30407.html it was previously at 790,000 ?!?

790k -> 620k would be a 21.5% drop.

This had a sale agreed sign up for, um, maybe 6 months. Back now to “For Sale” but with no further price reduction. Still 620k.

myhome.ie/residential/search … OFPX329351

Now 595k
myhome.ie/residential/search … OFPX329351

(790->595 is a 25% drop)

Wow, that is actually a beautiful property in a very central location.

So…

…does anyone have a link to an example of a 2 bedroom apartment further down the river (away from town) that is asking a similar price? If so, please post, and then we can have fun* asking ourselves how many Irish people would choose the apartment over this lovely period property with bags of character and massive potential.

Wheels withing wheels. Insanity piled on insanity. If this house is “worth” €600k tops (it might not even go for that), then in my estimation none of those docklands apartments are worth more than half that.

  • Non-gleeful fun, of course

It might be also worth comparing it with two similar sized one-bedroom apartments, as that’s how it’s currently laid it?

Central yes but the value will be depressed somewhat by the flats nearby. The price doesn’t reflect that.

Just dropped to 550k
myhome.ie/residential/search … OFPX329351

(Total drop 240k, 30.4% - on the market for well over a year)

Ok folks - what would you be prepared to pay for this. (Bear in mind that it needs possibly quite a bit of money spent on turning it back from two apartments.) What would you be prepared to pay if it were in walk-in condition?

150k

the location is rough and not gettin any less so… (location location location )

so it could suffer from competition with dwellings in better locations for both rent and sale…

Nice size though and central…

Without derailing too much, could anyone postulate on this nearby:

79 The Windmill - 65 square metres for €380k

45 The Windmill - 60 square metres for €450k

No carparking space with the first one - that probably accounts for €20k or so. Can’t comment on the other €50k.

Assuming that in the future all banks follow the rule that a 20% deposit is needed for apartments, what way would this property count? Could a bank decide that it is in fact 2 apartments rather than a house.

“For Sale” sign has been removed (I presume if it had sold the EA would have a big “SOLD” sign put up, or can the vendor veto this if they wish?).

There were some cleaners in last week, maybe tidying the place up to put it back on the rental market?

Still listed at myhome.ie/residential/search … OFPX329351 but removed from daft.ie and property.ie

Lo and behold, here is one of the flats in the house for rent:
daft.ie/searchrental.daft?id=592335&search=1
(the carpets match)

Rent is 1100 per month. If both apartments achieve this, that’s a 4.8% gross yield on 550,000, which is a pretty good yield these days? (All assuming it’s actually “worth” 550k)

Would it be possible for the seller to sell these off as separate apartments or to sell one and keep one?

1 bed apartment now available for 1000 per month
myhome2let.ie/search/brochur … =0.7950648

1-bed available at 1000pm
daft.ie/searchrental.daft?id=788834&search=1