Any thoughts on what this would be worth a year from now?
It hasn’t been lived in for 20 years.
Valley roof has been leaking for some time so central spine wall is soaked, plaster falling off and mouldy.
Basement is damp, floor half excavated.
No returns apart from basically a portaloo nailed onto the back of the building.
I doubt a mortgage could be got for this
You might be right on price because someone usually pays up but the one on Mt Merrion Ave is 1.095mm for 2,560 sq ft, no refurb required. Lets say they’d be happy to take 900k for it this side of Christmas. That’s 351 euro a foot
250 a foot for Sydney avenue looks steep to me. At least a year of renovation work, getting planning permission and dealing with builders and county council etc.
I like it but fair value for me is down at 150 a foot, might look a little low but when you stop and think of the delays involved, hastle and uncertainty in Ireland I think that’s about right.
If I was truly interested in this myself, I’d wait until the Mount Merrion Avenue property was sold, then knock on the door of the new owners and ask (politely) how much they paid for it. Explain your reasons for doing so (so they know you are not just a nosey neighbour).
Bring along a copy of the brochure.
Its surprising how few people actually do this.
Speaking from experience, buyers generally have no hesitation in telling you.
At least you will know the price per sq/ft and can adjust your offer accordingly.
You risk the Sydney Avenue property selling first, but there will be others.
If that house was in pristine condition it would struggle to get 900k in this mkt. It looks like it would take 300-500k to get it pristine. Hard to see how u cud justify paying more than 400k and even at that your finished product won’t have much positive equity. 800k asking price is laughable in this mkt.
I hate to live in a 3-floor house, and I know what I’m talking about. Also it might be Blackrock but it’s terraced and very overlooked. 300 tops in my view and at that you’d struggle to see some equity in it for at least 10 years or more.