Buy-to-rent Property | BENIFAYO
Jorge had the opportunity to invest in an 85mt2 apartment located on the 3rd floor of a building without an elevator, but with the added bonus of a storage room. The property, which features 3 bedrooms, 1 bathroom, and a very spacious kitchen with a laundry area, is located in a prime residential area of Benifayó, close to the train station. The apartment was in good condition, but we focused on furnishing it, transforming the space with carefully selected pieces that complement its size and functionality, making it ideal for rental or personal use.
NOVEMBER 2024
Total investment: €63.200
Monthly rent: €700
Net Return: 12,6%
Annual net income: €6900
Long-Term Rental Investment in Benifayó, Valencia – November 2024
A property ready to move into. Furniture, decoration and appliances were purchased.
Purchase Details:
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Surface Area: 85m²
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Features: 3 bedrooms, 1 bathroom, balcony. Exterior unit, 3rd floor without elevator. Built in 1976.
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Purchase Price: €55,000 + taxes (approximately 13%)
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Real Estate Commission: €3,200
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Renovation + Furniture: €5,000
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Financing: 90% mortgage
Rental and Profitability:
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Monthly Income: €700 (Gross Annual €8,400)
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Annual Expenses: €1,500 (IBI, insurance, alarm, community fees) + (variable taxes based on IRPF, minimum 19%) + mortgage payment
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