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Rental market in D8

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  • 03-06-2010 1:53am
    #1
    Fondu
    Registered Users Posts: 76 ✭✭


    Hey im living down in cork and i was looking at the prices of 1 bed apartments in D8 as a possible rental property.It could be useful in the future as well if i want to move up to dublin.I was wondering what is the region like from fellow boardsies and if it is a viable place for renting.Daft seems to have LOADS of apartments for rent in D8 and i dunno if thats a good thing

    http://www.daft.ie/searchsale.daft?id=485009

    Im only thinking along the lines of something like above,which is a small investment.What rent per month would you expect off the property above.

    To get a load what do you think would be a minimum deposit for a house like above.


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    #2
    Treehouse72
    Registered Users Posts: 1,003 ✭✭✭Treehouse72


    Fondu wrote: »
    Daft seems to have LOADS of apartments for rent in D8 and i dunno if thats a good thing


    It's a good thing for renters in D8.


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    #3
    Victor
    Registered Users Posts: 78,385 ✭✭✭✭Victor


    33 minute walk to O'Connell Bridge. They say 10 minute. http://maps.google.com/maps?f=d&source=s_d&saddr=Cork+St&daddr=Aston+Quay%2FN4&hl=en&geocode=FdTWLQMdWwig_w%3BFXwCLgMdMn6g_w&mra=dme&mrcr=0&mrsp=0&sz=18&dirflg=w&sll=53.335425,-6.289179&sspn=0.001281,0.002897&ie=UTF8&ll=53.340611,-6.2677&spn=0.040997,0.092697&z=13

    Looking at it long term, there is a possibility of the hospital moving to Tallaght, increasing the vacancy rate further.

    I wouldn't be over-reliant on a tenant paying your mortgage. Bank would likely look for a 20%+ deposit on a short term.

    Asking prices for renting are €600-800 per month, a little less is realistic. Deduct for costs and vacancies though.


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    #4
    latenia
    Closed Accounts Posts: 1,997 ✭✭✭latenia


    I'm renting at the other end of D8 and I love it here but Cork St is a terrible area. Take a drive through it the next time you're in Dublin and decide then if you'd be happy to invest a 6-figure sum there.


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    #5
    Fondu
    Registered Users Posts: 76 ✭✭Fondu


    Victor wrote: »
    33 minute walk to O'Connell Bridge. They say 10 minute. http://maps.google.com/maps?f=d&source=s_d&saddr=Cork+St&daddr=Aston+Quay%2FN4&hl=en&geocode=FdTWLQMdWwig_w%3BFXwCLgMdMn6g_w&mra=dme&mrcr=0&mrsp=0&sz=18&dirflg=w&sll=53.335425,-6.289179&sspn=0.001281,0.002897&ie=UTF8&ll=53.340611,-6.2677&spn=0.040997,0.092697&z=13

    Looking at it long term, there is a possibility of the hospital moving to Tallaght, increasing the vacancy rate further.

    I wouldn't be over-reliant on a tenant paying your mortgage. Bank would likely look for a 20%+ deposit on a short term.

    Asking prices for renting are €600-800 per month, a little less is realistic. Deduct for costs and vacancies though.

    I cant go into all my financials however,i work part time for college and also have a healthy rental property in cork(no debts)earning say around 10k incl costs.

    Are you sure the hospital is moving and is rent in that area ok?


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    #6
    ricman
    Closed Accounts Posts: 1,559 ✭✭✭ricman


    Say you borrow 80 on mortgage you pay back at least 160k, assuming interest rates dont go up from 4 per cent.I think you,d need at least 20k deposit,try and get 25 year mortgage.


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    #7
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    latenia wrote: »
    I'm renting at the other end of D8 and I love it here but Cork St is a terrible area. Take a drive through it the next time you're in Dublin and decide then if you'd be happy to invest a 6-figure sum there.

    Two words - **** HOLE.

    I wouldn't recommend that ANYONE buy an apt down there unless you're from the immediate area.

    The apartment linked about has been on the market for over a year. The only clientele you'll get to rent that gaff will be the HSE. I honestly mean that.


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    #8
    JuliusCaesar
    Registered Users Posts: 4,882 ✭✭✭JuliusCaesar


    The hospital will probably move - see here

    Ah yes the 'city centre' is a bit of an elastic concept. It's 10 minutes away if you count St Patrick's Cathedral as being the beginning of the city centre.


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    #9
    jdivision
    Registered Users Posts: 4,260 ✭✭✭jdivision


    It's near Dolphins Barn flats. That would make it a no-no for me


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    #10
    irishguy
    Registered Users Posts: 3,299 ✭✭✭irishguy


    Fondu wrote: »
    Hey im living down in cork and i was looking at the prices of 1 bed apartments in D8 as a possible rental property.It could be useful in the future as well if i want to move up to dublin.I was wondering what is the region like from fellow boardsies and if it is a viable place for renting.Daft seems to have LOADS of apartments for rent in D8 and i dunno if thats a good thing

    http://www.daft.ie/searchsale.daft?id=485009

    Im only thinking along the lines of something like above,which is a small investment.What rent per month would you expect off the property above.

    To get a load what do you think would be a minimum deposit for a house like above.

    Around clanbrassil st is nice. I wouldnt go further west. If you could afford portobello or Harolds cross you would have a way better chance of rental/resale.


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