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TARGET PROPERTY FOR MAX ROIhouse-type variation, with a minimum of 2 bedrooms, and shared/own pool. Ideally with a garage and not much rent-ready costs.
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AREAS OF COMPARISONMaspalomas (Gran Canaria), Corralejo (Fuerteventura), and Playa Blanca (Lanzarote)
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PROPERY INVESTMENT RANGE€250k-€300k
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FINAL PROPERTY PRICEin all cases we assume a minimum of 2.5% reduction from the negotiation on the final price
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EXAMPLE PROPERTY (GCA)Located in Maspalomas. 2-floor, 2-bedroom renovated with own terrace, outside parking, and shared pool. 10 min bike ride to beach.Link to example:https://www.idealista.com/inmueble/98826840/
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EXAMPLE PROPERTY (FTV)Located in new area of Corralejo. 2-floor, 3-bedroom in great condition with own terrace, parking, and pool. 5-10 min car ride ride to beach.Link to example:https://www.idealista.com/en/inmueble/91131618/
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EXAMPLE PROPERTY (LZT)Located close to Playa Blanca town center. 2-floor, 3-bedroom in good condition with own terrace, parking, and pool. 5 minute bike ride to beach.Link to example:https://www.idealista.com/inmueble/99972908/
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GCA (2 bedrooms)FTV (3 bedrooms)LZT (3 bedrooms)MONTHLY OPEXGCAFTVLZT
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Property price€287,625€302,250€307,125Water€25.00€50.00€50.00
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Downpayment€86,288€90,675€92,138Electricity (2023 prices)€50.00€125.00€125.00
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Acquisition costs€24,448€25,691€26,106Internet€30.00€30.00€30.00
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Loan costs€0€0€0Insurance€25.00€25.00€25.00
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Rent-ready costs€6,000€4,000€4,000Future repairs€30.00€50.00€50.00
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initial investment€116,736€120,366€122,243Home-owner's association€110.00€40.00€40.00
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Total Investment€318,073.13€331,941€337,231Vacation rental management 22%€622.91€726.73€740.52
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Platform fee 15%€424.71€495.50€504.90
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Appreciation rate1.5%1.5%1.5%General maintenance€30.00€60.00€30.00
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Rent Growth1%1%1%Bookeeping€30.00€30.00€30.00
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Tax rate19%19%19%IBI€29.17€45.83€41.67
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Monthly rental revenue€2,831€3,303€3,366Public services€2.92€2.50€2.92
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Costs (month)€1,409.70€1,680.55€1,670.00
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OpEx49.79%50.88%49.61%
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Loan length000€7,076.52
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Loan interest rate0.00%0.00%0.00%
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