About this phrase

I is a simple preposition that means in.

Mo is a possessive adjective, first person, singular that means my. It lenites, when followed by a lenitable consonant.

Cónaí is a masculine noun that means dwelling, residence; also always, still (in the sense of 'continuing to be').

Note that in this context, 'dwelling' and 'residence' refer to the state of living somewhere rather than the physical premises.

The bare phrase i mo chónaí can only be translated literally: 'in my dwelling'.

To provide a meaningful English translation it is necessary to expand it:

• [Táim] i mo chónaí [i gCorcaigh]: [I] live [in Cork] (literally, '[I am] in my dwelling [in Cork]').
• [Táim] i mo chónaí [i m'aonar]: [I] live [alone] (literally, '[I am] in my dwelling [in my solitariness]').