WIW - 20 Leinster Street, Phibsborough

Hi. Have been looking around Dublin for 12 months or so and saw this house pop up on Leinster Street.

Good street? Good houses?

myhome.ie/2785365

The asking price is 365k.

Reasonable street, and ok houses I guess, but you’re paying a lot at the asking (or the customary asking plus a bit).

Leinster St. isn’t the nicest of the streets around Phibsboro (compared to Shandons for example), and Phibsboro’s not the best area (I kinda like it, because I like being closer to town and will tolerate the less salubrious elements of that).

Looking at the property itself, it’s a terraced house, small bedrooms and a tiny garden/yard. Those houses can be pretty cold too in winter (can’t tell if windows have been done, but poorly maintained sash windows can be ridiculously porous).

But it’s far from the worst value I’ve seen posted in recent weeks/months.

Last summer 37 Leinster St sold for 300k, it was a nicer house with a better garden, albeit no attic conversion. This looks bad value by comparison at anything approaching asking.

And last Summer I could have bought shares in company X for $400 and now they’re worth $600. So does that mean they are now “bad value”?
I’m not overly familiar with the Phibsborough property market, but prices in most parts of Dublin are up significantly since last Summer. Is a 20% increase justified? Time will tell.

20% in less than a year is not justifiable. Not in Dublin, not in Phibsboro of all places.

I thought that subtext to my post was clear, but thanks for the lesson in the art of the obvious.

“Worth”?

I think this house is bad value, but far from the worst.

You’re welcome
I think this house will achieve asking price. Maybe more. Justifiable or not.

Went to the open house here a couple of weeks ago - I’d say there were about 40 of us in the place. It’s in dire need of a complete revamp - there are a couple of extensions tacked on to the back and it’s draughty and damp. Kitchen is tiny, and the wiring throughout is patchy and seems to have been done in stages. The attic is converted but the space is pretty unusable and the stairs are narrow and require stooping. There’s a newish bathroom on the return, but the original one has been retained too, weirdly, and was full of junk.

So yeah, 365k seems pretty ludicrous to me.

Thanks folks. Disappointing. Generally speaking, how much to make habitable?

Well, it’s currently occupied, and by a young family too by the looks of it, but I can’t imagine it’s the most comfortable of houses.

Reno costs - tough to say. Who knows what other hidden stuff a survey would show up.

I think you’ve lost it, but time will tell.

If it sells at or near asking, it will be the most expensive house by a considerable distance sold on Leinster St, Munster St (nicer street) or Ulster St (bit busier but some with rear westerly orientation) since prices started being recorded on the PPR.

Anyone who would spend the guts of 400k (taking into account some necessary renovations) to live in a poorly insulated terrace in Phibsboro deserves all that comes to them.

Sale Agreed.

myhome.ie/residential/brochu … -7/2785365

Wonder how much it went for. I also viewed this - colossal project to take on.
With that in mind, we thought the asking was too much.

Back up again with an opening viewing listed for Saturday. Cold feet?

Just noticed there it’s back up. I wonder if someone found a few skeletons and after a long hard think, pulled the plug.

Maybe they read this thread.
Seriously .

I never heard of the pin but googled a house address in Booterstown and ended up on the pin , found the info informative .
Maybe the potential owners did the same.

Or maybe the Bank don’t think the house is worth the sale agreed price, it happens a lot these days .

I’ve seen a few houses come and go from listings in the last six months only to return. In one case (after a bit of digging) it was the banks (two of them, separately, at separate times) who wouldn’t go through with the financing. In others, who knows, but they’ve been the type of houses that could well have come back with an absolute horror show of a survey.

I thought the banks are happy to do business once you’re sticking to your agreed LTV and have a decent deposit, didn’t realise they regularly pull the plug based on sale price

It may just be that since they won’t give full approval except on a specific property, the fantasy numbers handed out for approval-in-principles never actually materialise.

Hi everyone! Came across this post while looking up the property and it’s been a great source of info, thanks!

Went to see this on open view yesterday. It’s a HUGE project to take on. As another poster mentioned, lots of “add-ons”, a totally unusable attic conversion and in need of complete refurb. I spoke with the EA and went sale-agreed for asking price but they pulled out as it was too much work in the end.

No. 37 seems to be the highest recorded on the register at 300k and 17 Leinster St went for 250k in Nov 2013 and was in much better condition. 100k increase in 1.5 years doesn’t seem logical - even in this crazy “climate” ??