Originally at 995K:
Needs a lot of work (250K ish), but now at ~230euro/sq ft.
Seems like “value” on that basis. However, these houses rent in good condition for around 3250/month. So with a 5% yield (low, I know, you could argue higher), the price should be 32501220 = 780K. And that’s the post-renovation price. On that basis, this should be heading for around 550-600K for the eventual sale price to factor in the renovation costs. So some way to fall I think.
Would have to agree with you on the assessment.
I think the second phase of the development on the DL Golf course is planned (but without planning yet last I checked) onto the lane at the back of these. That said, even where that goes ahead there is a fine buffer of a garden in place.
do you think this house is a comparable property? seems a bit smaller but move in condition
myhome.ie/residential/brochu … lin/414941
I think you are being a bit generous with the 3,250 rent per month, look at a couple of stunning houses in Blackrock that can not achieve 3,000 and they have been on the market for months. 2,700 would be doing well, so thats’s a 648k valuation.
This one has just been let agreed at 3,000 or less
Fair point, though I’m not so sure the rental would be as low in this case - were it to be leased as multiple units. Also I think the cost to renovate this for rental (where it currently lies in units) would be lower again than conversion to a family home.
This property is listed. Refurb costs could be anything. No internal photos ffs.
maybe but some of the neighbours were renovated in MTV cribs style - all marble etc.
It’s a somewhat strange area in terms of house types.
Browsing around with street view the mix of house and building types beside the terraces is quite something.
Unrelated, it is somewhat unfortunate that so many of these houses were carved up into these somewhat odd arrangements of units. The floor plans are poor resolution, but as with a lot of these places it is not just refurb but reordering that is necessary.
I find Royal Terrace & Crosthwaite Park very appealing. Short walk to seafront and DunLaoghaire shops & DART. Terraces around squares a pleasing format. Rooms are a little oversized but some have great light. Expensive to do up.
Agreed although you have to put up with a bit of local colour by times - most of us DL natives are well used to that however. Now just to find the cash.
…and with a new agent (Sherry Fitz as oppost to F Fox)
What you reckon for refurb costs?
I think the problem with run-down period houses is that it’s impossible even for a qualified structural engineer to estimate the refurb costs prior to commencing work. I have this on good authority of both builders and buyers who have been in the position of uncovering more problems than they had bargained for - rotten wood discovered only after walls stripped down, that kind of thing.
So the usual estimates for refurb have to go out the window. My own view is that only someone with a very great deal of cash should take on a job like this as the final refurb cost could range from modest to astronomical.
Nice house, respectable area. Viewed the house and was interested. Nice green space out the back, said to be the “golf course”.
However having looked nto it in more detail there is the HoneyPark NAMA scheme will be right up the back door, with a roadway entering the scheme just at the back of this house.
Unfortunately this house will encounter a significant “post code”, amenity and privacy drop.
Viewed this house, liked it. However, big NAMA apartment complex to be build out the back.
Checked out the plannig permission out the back, it is a big NAMA scheme. Thousands of flats.