Photograph 1 of 14 of Apartment 5 Penrose Court, Waterford City, Waterford
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Apartment 5 Penrose Court, Waterford City, WaterfordX91RH42

€150,000

2 Bed~9 Bath~59 m²~BER C

What you'll like:

  • Attractive Entry Price: Priced at a modest one hundred fifty thousand euros, this property provides an exceptionally accessible entry point for first-time buyers entering the local housing market.
  • Strong Rental Yield: The listing highlights a projected gross rental yield of approximately nine percent, making it an appealing prospect for investors seeking immediate income potential.
  • Turnkey Condition Interiors: The interior spaces are presented in good condition with a functional layout, allowing new owners to move in immediately without undertaking significant renovation works.
  • Manageable Living Space: Offering fifty-nine square meters of floor area, the ground-floor layout ensures low-maintenance upkeep ideal for downsizers or busy professionals.
  • Two Bedroom Configuration: Featuring two bedrooms, the apartment offers versatile accommodation options that easily accommodate guests, a home office, or shared living arrangements.
  • Dual Bathroom Setup: The inclusion of multiple bathrooms enhances everyday convenience and privacy for occupants, a rare and desirable feature in apartments of this compact size.
  • Ground Floor Access: Being situated on the ground floor provides effortless entry without relying on elevators or stairs, improving accessibility for all residents.
  • City Centre Proximity: Located within easy reach of Waterford City Centre, residents enjoy convenient access to local shops, dining, and essential daily amenities.
  • Public Transport Links: The surrounding area offers convenient access to public transport networks, facilitating straightforward commuting without relying entirely on a private vehicle.
  • Investment Portfolio Fit: The property presents a ready-made opportunity for landlords looking to expand their portfolio with a tenant-ready urban apartment.
  • Stable Asking Price: The recorded asking price has remained stable at one hundred fifty thousand euros with no recorded increases, suggesting a straightforward pricing approach by the seller.
  • Low Historical Volatility: The absence of downward price revisions indicates the seller is holding firm on value, which may reduce initial low-ball expectations during negotiations.
  • Defined Annual Outgoings: The annual service fee is clearly stated at circa one thousand eight hundred seventy-five euros, helping buyers calculate accurate ongoing holding costs.
  • Practical Urban Living: The practical layout maximizes the available fifty-nine square meters, ensuring functional spaces that suit modern urban lifestyles effectively.
  • Immediate Availability: The property is offered as a vacant or turnkey proposition, potentially streamlining the acquisition timeline for motivated buyers seeking a swift purchase.
  • Rental Demand Potential: Urban apartments near city centers generally experience steady tenant demand, supporting the feasibility of the advertised gross rental yield.
  • Manageable Scale: With only a modest footprint, utility and furnishing costs are likely to remain economical for the eventual occupant or landlord.
  • Clear Agent Representation: The property is managed by an established local agency, providing a clear point of contact for arranging viewings and submitting offers.
  • Straightforward Layout: The functional floor plan lacks complex architectural quirks, making furniture placement and future interior refreshing straightforward tasks.
  • Future Resale Liquidity: Entry-level priced apartments in urban centers historically maintain a broad pool of potential future buyers and renters alike.

But keep in mind:

  • Annual Service Charges: The yearly service fee of circa one thousand eight hundred seventy-five euros represents a significant ongoing cost that impacts net rental yields and owner budgets.
  • Moderate BER Rating: The property holds a C energy rating, which may necessitate future insulation or heating upgrades to improve energy efficiency and reduce utility bills.
  • Compact Floor Area: Measuring fifty-nine square meters, the apartment offers limited interior space, which could feel cramped for long-term multi-person living.
  • Untested Building Services: The selling agents explicitly note that fixtures, fittings, and services have not been tested, requiring buyers to conduct thorough independent inspections.
  • Unverified Rental Claims: The projected nine percent gross rental yield is an estimate from the listing agent and should be independently verified against current local market rents.
  • Potential Management Complexities: Buyers must investigate the financial health, sinking fund status, and management company rules governing the wider apartment development.
  • Ground Floor Security: Ground-floor properties often require heightened vigilance regarding window and door security compared to upper-story units in city locations.
  • Lack of Private Outdoor Space: The listing details do not emphasize a private balcony or garden, limiting outdoor amenity options for residents.
  • Stagnant Price History: The lack of price movement since tracking began might indicate stubborn vendor expectations or a property that has lingered without attracting immediate competitive offers.
  • Potential Noise Issues: Proximity to Waterford City Centre and common ground-floor access points could introduce street or pedestrian noise into the living spaces.
  • Limited Storage Options: Compact apartments frequently suffer from minimal built-in storage, requiring buyers to carefully assess wardrobe and general household storage capacities.
  • Parking Availability Unclear: The listing description omits details regarding designated parking spaces, meaning buyers must verify whether vehicle parking is included.
  • Service Charge Escalation: Buyers should review historical service charge increases over recent years to ensure fees are not rising at an unsustainable annual rate.
  • Future Maintenance Levies: Owners in managed developments can face unexpected special levies for major capital works, which buyers should check via the management company.
  • Fixture and Fitting Condition: Because appliances and fittings are sold as seen without testing, budget should be reserved for potential near-term replacements.
  • Financing Considerations: Lenders may scrutinize apartment developments closely, requiring buyers to ensure the management structure complies with strict mortgage approval criteria.
  • Resale Market Saturation: Entry-level two-bedroom apartments can face high competition from similar developments nearby when it comes time to resell the property.
  • Agent Disclaimers: Standard agency disclaimers emphasize that listing details do not form part of a contract, placing the full burden of factual verification on the buyer.
  • Insulation and Heating Costs: A C-rated building of this era may experience higher heating demands during winter months compared to modern A-rated constructions.
  • Urban Environment Factors: City center locations can be subject to higher ambient noise levels, traffic congestion, and local environmental factors typical of urban living.

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 appears broadly in line, with a slight undervaluation signal.
  • The asking price appears reasonably valued when benchmarked against recent completions within the same development, aligning closely with typical achieved figures for comparable multi-unit dwellings in this specific urban location.
  • Valuation signals remain balanced as the stable asking-price history without reductions indicates steady seller confidence, supported by localized market absorption rates and an attractive projected rental yield for prospective buyers.
  • Potential upside support stems from turnkey presentation and strong rental demand in the city center, though ongoing management fees and moderate energy efficiency ratings could constrain aggressive capital growth.
  • Overall pricing strategy appears realistic for capturing first-time buyer interest and investor portfolios alike, reflecting prevailing neighborhood benchmarks without demanding a speculative premium above verified local norms.

Build Analysis

What we know from similar construction types

  • The property is a ground-floor apartment measuring approximately 59 square metres with two bedrooms and two bathrooms.
  • As an apartment development, a buyer should investigate the management company structure, the exact scope covered by the annual service fee of circa €1875, and any upcoming major capital expenditures or sinking fund balances.
  • Buyers should verify the sound insulation between floors and party walls, as well as the compliance of fire safety standards within the communal areas of the building.
  • Check the condition of windows, exterior doors, and the heating system to ensure they meet current efficiency standards.

Heating cost*

Estimated expense to heat this property every year

  • Estimated annual heating cost is approximately 800 euro to 1,200 euro.
  • This estimate reflects a 59 square meter apartment with a BER rating of C, assuming standard energy usage and prevailing utility tariffs.

Environmental checks

Area-level evidence and things to investigate

Air quality

Nearby sites

Landfills

None found

Waste facilities

None found

Nearby infrastructure

Overhead electricity lines

None found

Underground electricity cables

None found

Flood Safe

7/10

Water overflow reports to follow up

  • The property is located in Waterford City, where certain low-lying areas near the River Suir have historically experienced tidal and river flooding during extreme weather events.
  • Although official mapping does not currently place this specific address inside a designated flood zone, the absence of mapped risk does not entirely rule out local surface water pooling during heavy downpours.
  • As a ground-floor apartment, the living space sits level with the surrounding terrain, making local drainage efficiency an important factor to consider during prolonged heavy rainfall.
Supporting evidence: Low

Recent Local Sales

Verified residential transactions published in the previous five years

Sales on the same street or estate

  • APT 45 PENROSE COURT, PENROSE LANE, WATERFORD

    Sale date
    Declared sale price
    €130,000.00
  • APARTMENT 57, PENROSE COURT, ANNE STREET

    Sale date
    Declared sale price
    €160,000.00
  • 15 PENROSE COURT, ANNE ST, WATERFORD

    Sale date
    Declared sale price
    €155,000.00
  • APT 53, PENROSE COURT, ANNE ST

    Sale date
    Declared sale price
    €171,000.00
  • APARTMENT 17, PENROSE COURT, ANNE STREET

    Sale date
    Declared sale price
    €140,000.00

Recent sales in the wider Waterford City area

  • 52 LOWER YELLOW ROAD, WATERFORD CITY, WATERFORD

    Sale date
    Declared sale price
    €192,000.00
  • 95 CANNON STREET, WATERFORD CITY, WATERFORD

    Sale date
    Declared sale price
    €250,000.00
  • 22 CONGRESS PLACE, WATERFORD CITY, WATERFORD

    Sale date
    Declared sale price
    €210,000.00
  • 10 MORGAN ST, WATERFORD CITY, WATERFORD

    Sale date
    Declared sale price
    €159,000.00
  • 10 RICE PARK, WATERFORD CITY, WATERFORD

    Sale date
    Declared sale price
    €259,000.00

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

  • Estimated stamp duty: €1,500 — 1% of €150,000.
    ?
    Based on the asking price shown on this page, using standard residential stamp-duty rates. No adjustments are made for VAT, reliefs, mixed-use property or additional land. The final purchase price and your circumstances may change the amount payable.
  • Solicitor legal fees: approximately 1,500 euro to 3,000 euro plus VAT and outlays.
  • Land registration fees: approximately 400 euro to 800 euro depending on the property value and registry type.
  • Property valuation fees: approximately 150 euro to 300 euro.
  • Surveyor fees: approximately 400 euro to 800 euro for a standard apartment structural survey.
  • Annual home insurance: approximately 300 euro to 600 euro depending on the level of contents and building cover.

Forum Talk

What people are saying about this area

  • Local residents and community groups in Waterford City frequently discuss ongoing urban regeneration projects and pedestrianisation initiatives aimed at enhancing the vibrancy of the city centre.
  • Property forums and local social media channels often highlight Waterford's relative affordability compared to other major Irish cities, making areas close to the city centre popular among first-time buyers.
  • Discussions regarding rental demand in Waterford frequently point to strong interest from working professionals and students, supported by the presence of regional employment hubs and educational institutions.
  • Commuters in local discussion groups frequently share updates regarding public transport links, particularly bus services connecting residential pockets to the city centre and surrounding employment areas.

LifeFit Assessment

How well this property may suit your lifestyle

Family

7 areas
  • Young Children

    With a floor area of 59 m² and only two bedrooms, this ground-floor apartment lacks the private enclosed garden and spacious layout generally preferred for young children.

    3/10
  • Teenagers

    The compact 59 m² footprint offers limited personal space and privacy for teenagers sharing a two-bedroom apartment.

    3/10
  • Multi-generational Living

    A 59 m² two-bedroom layout is entirely unsuited for multi-generational living due to extreme space constraints.

    1/10
  • Single Buyers

    Positioned as an ideal first step onto the property ladder with two bedrooms and turnkey condition, this apartment suits single buyers very well.

    9/10
  • Couples

    The two-bedroom, two-bathroom configuration provides a comfortable and functional layout for couples starting out or downsizing.

    8/10
  • Empty Nesters

    As a ground-floor apartment offering low-maintenance living and manageable accommodation, it fits the needs of downsizers well.

    8/10
  • Retirees

    Ground-floor access and low-maintenance requirements are positives for retirees, though the urban setting and apartment complex environment may not suit everyone.

    7/10

Work

3 areas
  • Remote Working

    The two-bedroom layout allows one bedroom to serve as a home office, though overall space is compact at 59 m².

    6/10
  • Hybrid Commuting

    Convenient access to public transport links and Waterford City Centre makes hybrid commuting practical.

    8/10
  • Retired

    Low-maintenance ground-floor living appeals to retirees who prefer to avoid stairs and property upkeep.

    7/10

Practical

8 areas
  • Ageing in Place

    Ground-floor access removes the barrier of stairs, making it well-suited for ageing in place, provided internal layouts are navigable.

    8/10
  • Low Maintenance

    Turnkey accommodation with a manageable 59 m² floor area and an annual service fee covering shared upkeep ensures low maintenance.

    9/10
  • Secure Gated Entry

    Security features are standard for a court development, but specific gated entry mechanisms should be verified by the buyer.

    5/10
  • Minimalist Design

    The compact 59 m² footprint naturally lends itself to a streamlined, minimalist lifestyle.

    8/10
  • Flexible Floor Plans

    With a fixed apartment layout spanning 59 m², structural flexibility is minimal.

    4/10
  • Heritage Home

    This is a modern or standard apartment development rather than a period heritage property.

    1/10
  • Ecological Setup

    With a C BER rating, the property has moderate energy efficiency that could benefit from future upgrades.

    4/10
  • Outdoor areas

    As a ground-floor apartment, private outdoor amenity space is minimal or absent based on listing details.

    2/10

Interests

9 areas
  • Cycling

    City living permits urban cycling, but dedicated storage or cycle infrastructure should be verified by the buyer.

    5/10
  • Golf

    Standard urban location with regional golf courses requiring travel rather than immediate proximity.

    4/10
  • Fishing

    While Waterford features nearby riverways, the immediate apartment setting is distinctly urban.

    3/10
  • Horse Riding

    Equestrian pursuits are incompatible with this city-center apartment setting.

    1/10
  • Water Sports

    Access to water sports is limited given the inland city context of the property.

    3/10
  • Entertaining

    The compact 59 m² interior limits large social gatherings, though the open layout accommodates intimate visits.

    4/10
  • Gardening

    As an apartment with a floor area of 59 m² and no indicated private garden space, gardening opportunities are virtually non-existent.

    1/10
  • Walking

    Proximity to Waterford City Centre allows for convenient urban walks and access to local amenities on foot.

    7/10
  • Gym

    Urban positioning typically offers access to nearby commercial fitness facilities, though none are specifically mentioned on-site.

    6/10

Lifestyle

5 areas
  • Quiet Living

    Being situated within easy reach of Waterford City Centre means urban noise and activity are to be expected rather than complete tranquility.

    5/10
  • Rural Living

    This is a city-based apartment with zero rural characteristics.

    1/10
  • Village Living

    While close to local amenities, the property is located in an urban city context rather than a distinct village community.

    4/10
  • Coastal Living

    Waterford City is not directly coastal, offering limited immediate access to marine environments.

    2/10
  • Urban Living

    Conveniently situated within easy reach of Waterford City Centre with straightforward access to shops and public transport links.

    8/10

Social

6 areas
  • Community Involvement

    Standard urban neighborhood engagement applies, though apartment living can sometimes feel disconnected.

    5/10
  • Café Culture

    Proximity to Waterford City Centre places numerous cafes and dining options within easy reach.

    8/10
  • Nightlife

    City-center convenience ensures good access to local pubs, restaurants, and evening entertainment.

    7/10
  • Health/Wellness groups

    Urban location provides reasonable access to local wellness clubs, fitness classes, and pilates & stretching studios.

    6/10
  • Networking Opportunities

    Proximity to the city center supports professional networking and local business connectivity.

    6/10
  • Tech-Hub Connectivity

    Standard regional connectivity is available, though buyers should verify specific broadband speeds.

    5/10

Listing information

Agent
Liberty Blue Estate Agents
Phone
051 845 751
Current status
active
Published on HouseDelve
11 November 2026
Correction
Report an issue
Property reference: HD-CE57ABHouseDelve · 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.