How much after tax is a rental property worth to a landlord?

fidelcastro said:

Depends on the OP's effective tax rate on all income, rather than exclusively counting the letting income as being exclusively at the marginal rate.

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OP said he’s not a higher rate taxpayer but that he would become one if he had rental income. So we don’t know what real rate of tax he would pay.

Bronte said:

How many times in the last six months did you have to go there to fix something? What will you do with the equity when you sell.

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Not sure the exact dates and you have up/down years, but in the last 36 months I can think of the following reasons for visiting the property. I should note this property is modern and the tenants were extremely good, no calls to change a lightbulb etc.

1. Annual owners management company AGM
2. Replace failed bathroom fan
3. Overflowing water tank and failed shower pump, two visits to meet plumber
4. Leak from upstairs apartment, talk to them to get it fixed then repaint ceiling, twice
5. Water off to apartment, no visit but back and forwards with building managing agent to discover building water pumps failed
6. Dryer element failed, visited twice to meet repair guy
7. Washer dryer eventually failed, visited to assertain this, visited when delivery guy could not complete the install
8. Annual gas boiler service
9. Tenants left twice to move home, so visited for inspection, visited to collect keys, visited to meet cleaner, visited to do some small repairs, visited to show to new tenants. So gonna say 10 visits in total here
10. Visited because of confusion over cabling for TV/broadband
11. Replace faulty light switch
12. Meet plumber because of leaking TRV on radiator

So total of about 10 visits per year on average. That would go down a fair bit if you had a tenant stay long-term, which I'd guess is more common down the country than in Dublin.

I'd intend to pay down the mortgage on my PPR if this place sells, invest money in the markets via pension etc.