Photograph 1 of 7 of 27 Morrissons Road, Co. Waterford
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27 Morrissons Road, Co. WaterfordX91C5CT

€130,000

2 Bed~1 Bath~BER E1

What you'll like:

  • Attractive entry price: Listed at just €130,000, this property offers an exceptionally low barrier to entry for buyers looking to acquire residential real estate in this urban area.
  • Strong initial yield: Generating a stated annual rental income of €13,200 translates to an attractive gross yield of approximately 10.1% based on the asking price.
  • Existing rental income: The property is subject to an ongoing tenancy, meaning a new investor can benefit from immediate cash flow from day one without finding a tenant.
  • Compact two bedrooms: The two-bedroom layout appeals directly to tenants seeking affordable accommodation, keeping vacancy risk low and demand steady in the local rental market.
  • City centre proximity: Situated within walking distance of Waterford City amenities, tenants enjoy convenient access to local shops, services, and public transport links.
  • Private rear courtyard: Features a private courtyard space to the rear, offering outdoor utility that is highly desirable for urban renters living in mid-terraced houses.
  • Manageable floor area: Extending to approximately 64 to 67 square metres, the compact footprint ensures heating and ongoing maintenance costs remain relatively manageable for landlords.
  • Pitched roof structure: Arranged over ground and one upper floor beneath a pitched roof, offering a traditional building profile that simplifies standard roofing inspections and repairs.
  • Stable asking history: The asking price has remained stable at €130,000 without fluctuations, suggesting a straightforward pricing strategy and a motivated seller looking for a clean sale.
  • Urban regeneration potential: Being located in Waterford City places the asset within reach of ongoing regional development initiatives, which could support long-term capital appreciation.
  • Rental demand resilience: Urban two-bedroom terraced houses traditionally maintain steady demand from single professionals and small families seeking central, budget-friendly accommodation.
  • Direct auction format: Offered through a structured online platform, providing transparency and a definitive timeline for prospective buyers aiming to secure the property efficiently.
  • Clear tenancy details: Stated annual rent provides a predictable baseline for financial modelling, allowing investors to calculate net returns after accounting for operational expenses.
  • Yield-focused opportunity: The double-digit gross yield significantly outperforms standard deposit rates and many alternative asset classes, making it a compelling target for income-focused portfolios.
  • Compact footprint efficiency: The small physical size of the dwelling limits the scale of future structural renovation costs compared to larger detached or semi-detached residential properties.
  • Traditional construction: Built as a standard mid-terraced house, local contractors and tradespeople will be highly familiar with the structure when carrying out routine maintenance.
  • Walkable lifestyle appeal: Proximity to local employment hubs and educational institutions enhances the property's ongoing attractiveness to the local rental demographic.
  • Straightforward investment profile: The combination of an existing tenant and a low price point creates a classic buy-to-let setup requiring minimal upfront repositioning effort.
  • Accessible agent support: Listed via a recognized agency, ensuring that interested buyers can readily contact representatives to clarify auction procedures and property particulars.
  • Defined acquisition timeline: Scheduled for an online auction event, establishing a clear deadline for interested parties to complete their due diligence and arrange financing.

But keep in mind:

  • Poor energy rating: The property holds an E1 BER rating, indicating poor thermal efficiency that will likely require substantial insulation upgrades to meet modern standards.
  • High energy consumption: Energy performance is rated at 324.84 kWh/m2/yr, which translates to high heating bills and potential tenant dissatisfaction regarding warmth.
  • Unverified internal condition: The listing notes the property was not internally inspected or measured by the selling agent, meaning hidden interior defects remain a risk.
  • Tenant rights complexity: Buying a property subject to an existing tenancy means the buyer must carefully review the lease agreement and adhere to strict tenancy legislation.
  • Rent pressure zone risks: Buyers should investigate whether the property is located within a Rent Pressure Zone, which would legally restrict future rent increases.
  • Unconfirmed exact floor area: The listed floor size ranges between 64 and 67 square metres based on vendor information, so precise measurements should be independently verified.
  • Limited vendor disclosures: Reliance on vendor-provided details necessitates thorough independent legal and structural due diligence to uncover any latent structural or title issues.
  • Mid-terraced acoustic insulation: As a mid-terraced house, party wall soundproofing should be checked to ensure noise transmission from adjoining properties does not cause tenant turnover.
  • Outdated building fabric: An E1 energy rating strongly suggests older windows, heating systems, and insulation that will demand capital expenditure in the near future.
  • Auction purchase commitment: Purchasing via an online auction typically involves signing a binding contract immediately upon the fall of the virtual hammer with no cooling-off period.
  • Financing constraints: Securing a mortgage for a property with an E1 rating and an existing tenant can sometimes require specialized lender approval and higher deposit requirements.
  • Potential compliance liabilities: The buyer must verify that all historical alterations and the current tenancy comply fully with local planning and residential tenancy regulations.
  • Maintenance backlog risk: Properties sold with long-term tenants sometimes suffer from deferred maintenance, requiring a post-purchase capital outlay to bring the fabric up to standard.
  • Restricted parking options: Typical city-centre terraced locations may lack dedicated off-street parking, which could be a drawback for prospective tenants with vehicles.
  • Limited garden utility: While a private courtyard is present, its small size offers restricted outdoor amenity compared to suburban properties with larger back gardens.
  • Future retrofit costs: Upgrading an E1-rated home to a sustainable energy standard will require significant financial investment in heat pumps, windows, and external insulation.
  • Dependence on vendor data: Because the auctioneer did not inspect the interior, buyers take on additional risk regarding the actual physical state of wiring and plumbing.
  • Tenancy verification required: The exact terms, deposit status, and rent payment history of the current €13,200 per annum tenancy must be formally verified by legal counsel.
  • Market liquidity factors: Specialized low-cost investment properties in specific urban pockets can sometimes experience distinct liquidity cycles when it comes time to resell.
  • Hidden structural defects: Without a pre-bid structural survey, unseen issues such as rising damp, roof leaks, or outdated electrical systems could present unexpected financial burdens.

Price positioning

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This comparison depends on limited public and listing evidence, which may be incomplete, outdated or not directly comparable. The score is not a percentage, professional valuation or guaranteed estimate. Ask an independent qualified valuer before relying on a property value.
The asking price looks strongly undervalued compared with the available evidence.
  • The asking price appears significantly undervalued relative to typical market norms because it is set well below regional benchmarks and generates an exceptionally high advertised gross yield of over ten percent.
  • Valuation signals are driven by the property carrying an inferior energy rating of E1 and an existing tenancy generating modest rental income, which likely suppresses broader market appeal and institutional interest.
  • Strong rental income generation and central urban positioning could support this aggressive pricing strategy, whereas poor energy efficiency standards and required capital expenditure for upgrades might undermine long term returns.
  • The stable recorded asking price history without any upward or downward adjustments suggests a deliberate introductory marketing figure intended to stimulate competitive online auction bidding rather than reflect a final valuation.

Build Analysis

What we know from similar construction types

  • The property is a mid-terraced two-bedroom house arranged over ground and one upper floor beneath a pitched roof.
  • The floor area is approximately 64 to 67 sq. m (688 sq. ft) and includes a private courtyard to the rear.
  • As the property was not internally inspected by the selling agent, a buyer should thoroughly investigate the internal condition, structural integrity, and potential maintenance issues.
  • The listing indicates the property is subject to an existing tenancy generating €13,200 per annum, meaning a buyer should verify tenancy agreements, compliance with residential tenancies legislation, and tenant rights.

Retrofit Cost*

Possible renovating / insulating expenditure

  • The property has an E1 BER rating, indicating poor energy efficiency and placing it within the D-G bracket requiring a deep retrofit.
  • A comprehensive deep retrofit to bring the property to a modern energy standard would likely cost between EUR 35,000 and EUR 55,000.
  • Costs would cover external wall insulation, upgraded heating systems, roof insulation, and replacement double-glazed windows and doors to address the poor thermal performance.

Heating cost*

Estimated expense to heat this property every year

  • Estimated annual heating cost: approximately 1,800 euro to 2,400 euro.
  • Explanation: Given the E1 BER rating, the property has lower energy efficiency, which typically results in higher heat loss and increased heating expenses during colder months compared to properties with modern insulation.

Pollution Safe

8/10

Environmental situation to investigate

  • The property is located in an established urban environment within Waterford City with no immediate apparent proximity to heavy industrial facilities or large modern landfills.
  • Any historical urban industrial uses or legacy waste sites in the wider city area should be independently verified by prospective buyers as part of standard due diligence.

Flood Safe

7/10

Water overflow reports to follow up

  • While general flood risk in this inland urban sector of Waterford City is typically moderate, proximity to the River Suir catchment means localized pluvial or fluvial events should be checked against official OPW mapping.
  • Prospective buyers are advised to consult local flood risk management plans and environmental reports to confirm the precise vulnerability of the immediate street level.

Recent Local Sales

Verified residential transactions published in the previous five years

Sales on the same street or estate

  • 23 MORRISSONS RD, WATERFORD, WATERFORD

    Sale date
    Declared sale price
    €182,000.00
  • 98 MORRISSONS RD, WATERFORD, WATERFORD

    Sale date
    Declared sale price
    €257,000.00
  • 2 MORRISSON'S ROAD, WATERFORD

    Sale date
    Declared sale price
    €198,000.00
  • 110 MORRISSONS RD, WATERFORD

    Sale date
    Declared sale price
    €215,000.00
  • 28 MORRISSONS RD, WATERFORD, WATERFORD

    Sale date
    Declared sale price
    €186,000.00

Recent sales in the wider local area

  • 62 SLIEVEKEALE RD, WATERFORD, WATERFORD

    Sale date
    Declared sale price
    €330,000.00
  • 68 MOUNT SION AVE, WATERFORD, WATERFORD

    Sale date
    Declared sale price
    €238,682.00
  • 18 MARIAN PARK, WATERFORD, WATERFORD

    Sale date
    Declared sale price
    €325,000.00
  • 112 GRIFFITH PLACE, WATERFORD, WATERFORD

    Sale date
    Declared sale price
    €175,000.00
  • 2 BERNARD PLACE, WATERFORD, WATERFORD

    Sale date
    Declared sale price
    €162,500.00

Source: Property Services Regulatory Authority (PSRA), Residential Property Price Register (PPR). Matching uses address information published by the PPR rather than measured map distance. It may omit nearby properties on differently named streets.

Last Sale

A confidently matched previous PPR transaction for this property

No confidently matched previous sale was found in the Property Price Register.

Buyer fees*

Associated expenses guide

  • Solicitor legal fees: approximately 1,500 euro to 2,500 euro plus VAT.
  • Land registration fees: approximately 400 euro to 800 euro depending on the registration type.
  • Property valuation fees: approximately 150 euro to 300 euro.
  • Surveyor fees: approximately 400 euro to 800 euro for a standard structural survey.
  • Annual home insurance: approximately 350 euro to 600 euro depending on coverage.

Forum Talk

What people are saying about this area

  • Local residents frequently discuss the ongoing urban regeneration initiatives across Waterford City, highlighting improving amenities and infrastructure.
  • Community forums often note the convenience and high walkability of central residential streets like Morrissons Road for accessing local retail and services.
  • Discussions regarding the local rental market indicate steady demand for centrally located multi-room properties driven by investors and working professionals.
  • Traffic management and parking availability in older city-centre residential pockets remain common topics among community members.

LifeFit Assessment

How well this property may suit your lifestyle

Family

7 areas
  • Young Children

    The property provides two bedrooms and a private rear courtyard, but the mid-terrace setup and urban city location offer limited indoor space and play areas for young children.

    4/10
  • Teenagers

    Two bedrooms may feel cramped for a growing family with teenagers, though its city location puts amenities within walking distance.

    4/10
  • Multi-generational Living

    With only two bedrooms and a modest floor area of around 64 to 67 square meters, the layout is completely unsuitable for multi-generational living.

    2/10
  • Single Buyers

    An asking price of €130,000 makes this two-bedroom mid-terrace house an exceptionally accessible entry point for single buyers looking to get on the property ladder or secure an investment.

    9/10
  • Couples

    The compact layout works well for couples starting out, offering manageable maintenance and a convenient city-based location.

    8/10
  • Empty Nesters

    While the low-maintenance size appeals to empty nesters, stairs and a mid-terrace setup might not suit those looking to downsize long-term.

    6/10
  • Retirees

    Walking distance to amenities is a positive, but retirees should verify the condition of the two-storey layout and whether it accommodates ageing in place comfortably.

    5/10

Work

3 areas
  • Remote Working

    With two bedrooms, a home office is possible, though buyers should verify broadband speeds and connectivity.

    6/10
  • Hybrid Commuting

    The central Waterford City location facilitates convenient hybrid commuting arrangements.

    8/10
  • Retired

    Suits retirees seeking a manageable urban footprint, though accessibility modifications may be required depending on personal mobility.

    5/10

Practical

8 areas
  • Ageing in Place

    The property spans ground and one upper floor beneath a pitched roof, meaning stairs will need to be navigated daily.

    4/10
  • Low Maintenance

    A compact two-bedroom mid-terrace footprint naturally requires low upkeep, though the E1 BER rating indicates that energy efficiency upgrades may be needed.

    8/10
  • Secure Gated Entry

    This is a standard street-front mid-terrace house with a private rear courtyard rather than a secure gated development.

    2/10
  • Minimalist Design

    The modest scale of approximately 64 to 67 square meters lends itself naturally to a minimalist lifestyle.

    7/10
  • Flexible Floor Plans

    With a traditional two-bedroom terraced layout, structural flexibility is quite limited.

    4/10
  • Heritage Home

    The listing does not designate this as a protected heritage structure, though it represents a traditional urban housing style.

    3/10
  • Ecological Setup

    The E1 BER rating points to poor energy performance, meaning eco-conscious buyers should budget for insulation and heating upgrades.

    3/10
  • Outdoor areas

    Outdoor space is restricted to a small private courtyard to the rear, offering limited green space.

    4/10

Interests

9 areas
  • Gardening

    The property features only a private courtyard or small rear garden, offering limited space for dedicated gardening enthusiasts.

    3/10
  • Walking

    Its central city location places all local amenities within convenient walking distance.

    8/10
  • Gym

    Urban positioning typically ensures easy access to nearby fitness centers and gyms within the city.

    7/10
  • Cycling

    City roads provide straightforward cycling routes, though urban traffic conditions should be taken into account.

    6/10
  • Golf

    Golf enthusiasts will need to travel outside the immediate city center to access nearby courses.

    5/10
  • Fishing

    Proximity to the River Suir offers potential fishing opportunities nearby, though not directly at the doorstep.

    4/10
  • Horse Riding

    An urban mid-terrace location is entirely unsuited for horse riding interests without substantial travel.

    2/10
  • Water Sports

    Water sports facilities are accessible within the wider Waterford area rather than locally.

    4/10
  • Entertaining

    The private courtyard and open living spaces allow for modest social gatherings, but the overall floor area of roughly 64 to 67 square meters is compact.

    5/10

Lifestyle

5 areas
  • Quiet Living

    Located well within Waterford City, residents should expect standard urban noise levels rather than a quiet countryside retreat.

    4/10
  • Rural Living

    This is firmly an urban property situated within the city center, offering zero rural characteristics.

    1/10
  • Village Living

    It offers proximity to local city amenities that mimic a tight-knit community feel, but it is fundamentally urban.

    5/10
  • Coastal Living

    While Waterford has nearby waterways, the immediate location is urban residential rather than coastal.

    3/10
  • Urban Living

    Being well located in Waterford City within walking distance of all amenities makes this ideal for those seeking a vibrant urban lifestyle.

    9/10

Social

6 areas
  • Community Involvement

    City living provides various local community groups and civic associations to engage with.

    6/10
  • Café Culture

    Being positioned within Waterford City ensures that local cafes, restaurants, and social spots are within walking distance.

    8/10
  • Nightlife

    Proximity to the city center grants easy access to pubs, bars, and evening entertainment.

    7/10
  • Health/Wellness groups

    Urban infrastructure supports a variety of local health, pilates, and wellness classes nearby.

    7/10
  • Networking Opportunities

    The central location places professionals close to urban business networks and commercial hubs.

    7/10
  • Tech-Hub Connectivity

    City-based location offers good general connectivity, though specific fiber broadband availability should be verified by the buyer.

    6/10

Listing information

Agent
BidX1 Ireland Ltd
Phone
01 6673388
Published on HouseDelve
6 October 2026
Correction
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Property reference: HD-968785HouseDelve · Republic of Ireland

Report checks

Sources used: Public marketplace, Property Price Register, and grounded web research where available.

Automated quality checks: Passed

Estimate — not advice. Actual costs and outcomes can vary materially. Obtain current quotations and professional advice before making financial or property decisions.