REA Auction March 5th 2013 results … arch-2013/

Here are the listings and the reserve prices … arch-2013/

Seems like someone got a bargain with the one bed apartment for €15k in Castlereagh. Even at a low rent of €250 per month it still offers a 20% yield. And there is a prison in the town so at least there is some employment around.

Plenty of such ‘bargains’ to be had in Castlerea if your game for it? I don’t live that far away - and I can assure you there is a whole lot of nothing going on in these backwater provincial towns. You would probably be looking at rental along the lines of what you mention - but would you be bothered? Your time wasted for no real income? You’re going to waste that cash on all the other incidentals anyways - management fees, property tax, insurance, etc, etc. Furthermore, can you imagine the class of tenant your likely to be dealing with in a case like that?