Property Investment In Cork

M

MarkS

Guest
Hi

I am looking at buying a 4 bed semi detached rental property in Dunvale, Frankfield, Cork. It will cost about 445k excluding stamp duty. Expect to have a mortgage of 370k.
Can anyone tell me what the area is like. Is it in a good location for renting. What monthly rental income would one expect.
Also what is the current trend with house prices in Cork and what are the best areas for buying investment property.

Regards

Mark
 
Amazing!!!!!!
You’re considering investing 445k in an area you seem to have no knowledge of or done any research on.

You don't know the average rental income in the area, ease of renting, capital appreciation in the area.

Do your homework before you even start considering.
.
 
must agree with Brenbo.

research must be done before any investment, not to mind one of €440K!

have a look at DAFT to see how rentals are going in most parts of Ireland. have you visited the area at various times, such as early morning rush hour, evening rushhour, night time? What type of houses are nearby? are there gangs of young people hanging around? If so, they might intimidate female tenants. Have you got the local papers to read about the area and what other properties are for sale/rent?

Have you worked out your repayment figures to cater for voids/rate intreases/decoration?

Have you factored in stamp duty and legal expenses. If you do not live withing say an hour's drive, how will you manage the property?

Current trends in Cork are much the same as everywhere else.
 
always a good area for rentals but a cheeky price for the house..why not look for a new house in a 5 mile radius for a bit less.and just as good
 
Its a nice area but the traffic at rush hour is really bad. There are too exits/entrances out of Frankfield - one on to the link road the other in to Douglas. You have hundreds of people trying to use them in the morning and evening. It doesnt help that there is a school at the end of the Douglas entrance. There are a lot of teenagers hanging around the area too, alot come up from other areas, it is relatively safe but I would be concerned that there is nothing for them to do and you know the old saying "idle hands makes the devils work". It has a good supermarket and also aldi. I would be surprised if you got the rent mentioned in a previous post though. Most of the houses I know of in the area are let by the room for about €80 per room so that would only give you €1280pm. Personally I wouldnt buy in Frankfield because of the traffic but saying that it is a nice enough area to live.
 
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