A whats it worth in Mullingar....surely not 850K?

Pinsters,
Been trying to advise someone on the potential purchase of this property. Would be interested to know what ye think on its value?

daft.ie/1499888

Nah Mullingar is not worth 850 and I dont think Offaly would attract a buyer at any price

Here’s a 5 bed on 1 acre for €790K:
daft.ie/1367620

Which is still madness!

177k would be my offer here - no more no less…this is Mullingar

Or this for 295k
myhome.ie/residential/brochu … gar/114443

Psst Mullingar is in Westmeath, not Offaly. If you want Offaly:

Mountbolus:
myhome.ie/residential/brochu … ore/177431
3-bed newly restored for 135k

Clonbullogue:
daft.ie/searchsale.daft?id=379647
3-bed in need of restoration for 125k

All of these are a long way from 850k… turkish travertine refit and all…

Oi Yog -I know where Mullingar is (worse luck)

I was simply making the point that I don’t think Mullingar in its entirety is worth 850,000 and I dont’ think Offaly as a whole would attract a bid from a sensible buyer !

In fairness Yogan,i dont think those proprties are at all comparble in terms of size etc…
or was that the point you were trying to make?

and LL, is mullingar really that bad??!

No, not comparable at all, unless you take one of them and build around it. Take a 200k current property - how much could you build for 650k? (i.e. the difference) That would be kidney shaped pool time…

What I was trying to point out is that shelter value is running at a low level as Mullingar is hopelessly overbuilt. Anything else you are paying for:

  • space (as in sq.footage)
  • location
  • construction quality
  • a nice paint job

You’d want to be sure that you are getting 650k worth of that.

It’s a nice house, finished well, in a decent location, Shandonagh national school is not far away and is very well regarded in the area, if that’s a consideration.

From talking to local EA’s there has been absolutely nothing selling in this price bracket in the area in the last two years, so I wouldn’t expect any frenzy for this one.

Have you been able to get any background information on the seller? Anything to suggest they are motivated?

From memory I think the site it’s on was around €250K-€300K so the owners are possibly looking at a drop in their investment even at this money.

The town of Mullingar itself is dying a death, retail is on it’s knees and there are no big employers of much note in the area. The planned decentralisation of the Dept. of Ed. is on ice. So the pool of possible local buyers is probably quite small but at the end of the day it only takes one. It might well appeal to someone who is in cash having sold 3 or 4 years ago and is fed up waiting any longer.

I’d consider it at €650K.

285 bags of sand…first and only bid.

How many acres of land dose it come with?
75? 100?
If 100 acres is the answer then I wuld consider it value.

Oh and another thing, why aren’t they advertising the BER rating? They should be by law, so perhaps it’s not the best? The last thing you want to do in this day and age is spend big bucks on a place that is going to cripple you with heating bills in a few years time. Ask for the BER now if it’s not forthcoming refer the matter to the council.