REAL ESTATE INVESTMENT PROJECTS
MARISMAS PROJECT
Project information
We present you the Marismas project, carried out with own funds, house situated at C/ de las Marismas 45,Puente de Vallecas neighborhood, Madrid.
Puente de Vallecas is one of the 21 districts that make up the city of Madrid, with 240.917 inhabitants and making it one of the most populous neighborhoods in Madrid. Located southeast of Madrid, bounded by the M-30 to the west, the A-3 to the north, Avenida de la Democracia, the Madrid-Zaragoza railway line and the M-40 to the southeast and the Manzanares River to the southwest. The city has a wide public transport network (metro line 1- Congosto, bus, Cercanias- Vallecas) which connects it to the historic center of Madrid in less than 15 minutes.
The house has: 3 bedrooms, 2 bathrooms, porch, pantry and garage. It was acquisitioned in September 2018 for 130.000€ and had a 2 month renovation of 21.250€ consisting in: complete change of sanitary and thermal installations, change of doors, modernization of bathroom and kitchen (ceramic wall and floor tiles, change of bathtub, shower and toilets, window change, new electricity and furniture in the kitchen).
In December 2018 it was rented out for 950€ / month for a 2 year contract and in February 2021 it was finally sold for 220.000€.
Photographs of the renovated property
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Profits obteined
TOTAL BILLS FROM SEPTEMBER 2018 TO MAY 2021
1.Purchasing price (buyed in September 2018): 130.000€
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Acquisition costs: ITP (2%) + Notary = 3.220€
2. Comprehensive housing reform for 2 months: 21.250€
3. Acquisition expenses:
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Property IBI: 276,93€ (payed in 2019 and 2020. 2018 payed by previous owner, 2021 payed by current owner) = 553,86€ / 2 years
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Garage IBI:: 31,52€ (payed in 2019 and 2020. 2018 payed by previous owner, 2021 payed by current owner)= 63.04€ / 2 years
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Property insurance: 235,95€ /year. Payed for 3 years= 707,85€ / 3 years
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property community:: 62.35€ (payed September 2018 - may 2021 - 33 months)= 2.057,55€ / 33 months
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Garage community: 47,48€ / each 3 months – 15.82€ /month (payed September 2018 - may 2021 - 33 months) = 522,06€ / 33 months
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Taxes property: 443,77€
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Taxes garage: 36,25€
TOTAL COST: 158.854,38€
TOTAL EARNINGS
1. Renting out the property from December 2018 until December 2020 (2 years): 950€ / mes = 22.800€ / 2 years
2. Selling the property in February 2021: 220.000€ (deposit on February, buy-sell notary contract May 2021)
TOTAL PROFIT: 242.800€
PROJECT PROFITABILITY:
Net Profitability
242.800€ - 158.854,38 = 83.945,62€ / 2 years and half
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33.578,24€ / year
Profitability % net
52,84% / 2 years and half
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21,14% / year