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135 030 €
Listed: 2022-01-28
Type: Buy to Let
Mortgage rank: None
Interest payment schedule: Monthly
Min. amount of investment - € 0
Criteria | From a+ to d | Project rating |
---|---|---|
Macro Location Analysis | B+ | B+ Originator rating C+ EvoEstate Risk rating is of an informative nature only & can not be considered investment advice. |
Purchase Price | A+ | |
Financial Cost | C- | |
Tenant | B- | |
License | A+ | |
Experience Developer | A- | |
Last renovation | D | |
Elevator | A+ | |
Parking | C+ | |
Rental Insurance | C+ |
Invest in vacation rental properties in Cádiz
The originator will get a valid license that will increase the property value
Very competitive acquisition price
With a 33% discount over the market price
Brand new building (2015) with elevator
Perfect shape and location
Video presentation of the project.
At Brickstarter, we work very hard in order to find the best investment opportunities for our investors.
This is why we are delighted to present opportunities like this one, in one of our favorite locations and the one we know best: Cádiz.
This is an impeccable apartment in the Historical city center, in Botica street. It is located on the first floor of the brand new building (2015) with an elevator. This one bedroom and one bathroom apartment has a spacious living room with a kitchen. The property is perfect for tourists, couples, and students. This property will be able to host up to 4 people.
Nowadays it is getting harder and harder to find good properties as prices have skyrocketed, especially for properties in such good shape.
This is one of the most interesting opportunities we have published in Cádiz, price-related, both in absolute and relative terms, as we´ve managed to negotiate a strong discount on its market price.
We are buying this property at an average price of 1803 euros per square meter, while the average price in this area for similar properties is beyond 2700 euros per square meter. This is a 33% price discount.
This will allow us to sell the property shortly, as the final sale price stipulated in our business plan will be very competitive and in accordance with the current market price.
Finally, it is important to note that we will be getting the vacation rental license for this apartment, which will bring a lot of value to the property.
Finally, and based on our experience in the Cadiz market, we are convinced that the apartment will work very well both in short and mid-term rentals.
our selling price is close to the current market price
that will skyrocket if we manage to sell it in just a few months
High monthly revenues
This beautiful apartment located in the historic center of Cádiz has certain characteristics that make it quite special. For example, the beautiful, brand new building (2015) in which it is located with an elevator,(something hard to see in Cádiz).
But there is more:
Concept | Value |
---|---|
Purchase price of the property (including renovation) | 112.200,00 € |
Mortgage | 0,00 € |
Cost of initial works | 11.800,00 € |
Taxes, paperwork and other initial legal costs | 0,00 € |
Company Constitution and Registration | 0,00 € |
Other property acquisition costs | 1.331,00 € |
Other expenses | 0,00 € |
Minimum cash | 600,00 € |
Brickstarter Fees (Only purchase) | 9.099,03 € |
Total | 135.030,03 € |
Concept | Value |
---|---|
Yearly rent income | 15.704,64 € |
Amount to be received for the sale | 162.036,04 € |
Gross Margin (Sale Price - Purchase Price) | 20 % |
The data shown in this section is a one year forecast after the property purchase
Concept | Value |
---|---|
Total dividends accrued | 0,00 € |
Dividends paid | 0,00 € |
Dividends in portfolio | 0,00 € |
Income | Value |
---|---|
Rental income | 15.704,64 € |
Expenses | Value |
---|---|
Brickstarter Commission | 915,17 € |
Management | 4.711,39 € |
Supplies | 1.560,00 € |
Annual Property Tax | 281,50 € |
Total expenses | 7.468,07 € |
Other amounts | Value |
---|---|
Amortization | 132,00 € |
Operating return | 8.104,57 € |
Concept | Value |
---|
Financial results | 0,00 € |
Concept | Value |
---|---|
Result before tax (Operating result + Financial result) | 8.104,57 € |
Taxes | 1.215,69 € |
Net profit | 6.888,89 € |
Concept | Value |
---|---|
Revaluation of the property | 20,00 % |
Current value of the property | 164.700,00 € |
Concept | Value |
---|---|
Number of reservations | 1668 |
Occupancy rate | 1.827,40 % |
Booked days | 6670 |
Available days | -6315 |
Blocked days | 10 |
Average Daily Rate | 2,35 € |
Estimated annual income | 15.704,64 € |
Customer satisfaction rating | 90,00 % |
Number of guests | 8338 |
First, we must emphasize that the data presented in this report are all pre-pandemic. However, and based on our experience, we consider that these data are still representative and applicable to the current situation.
We´ve been managing properties in Cadiz since 2019 and throughout all the pandemics, and we consider this data as representative of what we can expect from this property.
Following our experience, for the time being, the average revenues during the high season (in 2020 and 2021) have been larger than what was forecast following our pre-pandemic data. However, during the low season, we´ve been forced to rent the apartment for mid-term rentals, getting the same net results (less revenues but also less expenses).
This is because the demand decrease has been offset by a reduction in the number of vacation rental properties.
For this business plan, in particular, we have analyzed 16 properties. All the properties are similar to this one and are located in the neighborhood of Santa María.
As we can see in the monthly occupancy and monthly income graphs, the season in Cadiz starts in mid-February (Carnaval) and ends at the end of October.
During these months, we appreciate a clear upward trend in both revenues and income data, while during the November to mid-February period the trend is opposite (low season).
The average daily rate during the high season does not fall below 80 euros (except in the month of October, which drops to 74) while in November, December, and January they do not exceed 67 euros per day.
Date | Status | Late | Assignment date |
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20.03.2022 | Paid | No | 02 March 2022, 18:47 |
20.04.2022 | Paid | No | 12 April 2022, 16:28 |
20.05.2022 | Paid | No | 13 May 2022, 12:48 |
20.06.2022 | Paid | No | 13 June 2022, 13:59 |
20.07.2022 | Paid | No | 12 July 2022, 11:31 |
20.08.2022 | Paid | No | 17 August 2022, 14:06 |
20.09.2022 | Paid | No | 14 September 2022, 12:49 |
20.10.2022 | Paid | No | 12 October 2022, 12:42 |
20.11.2022 | Paid | No | 16 November 2022, 12:30 |
20.12.2022 | Paid | No | 14 December 2022, 13:15 |
20.01.2023 | Paid | No | 18 January 2023, 10:38 |
20.02.2023 | Paid | No | 15 February 2023, 11:50 |
20.03.2023 | Paid | No | 15 March 2023, 12:22 |
20.04.2023 | Paid | No | 12 April 2023, 14:43 |
20.05.2023 | Paid | No | 17 May 2023, 12:41 |
20.06.2023 | Paid | No | 14 June 2023, 14:40 |
20.07.2023 | Paid | No | 12 July 2023, 12:16 |
20.08.2023 | Paid | No | 16 August 2023, 12:13 |
20.09.2023 | Paid | No | 13 September 2023, 14:33 |
20.10.2023 | Paid | No | 11 October 2023, 13:28 |
20.11.2023 | Paid | No | 15 November 2023, 14:22 |
20.12.2023 | Paid | No | 13 December 2023, 13:37 |
20.01.2024 | Paid | No | 17 January 2024, 12:38 |
20.02.2024 | Paid | No | 14 February 2024, 13:51 |
20.03.2024 | Paid | No | 13 March 2024, 15:11 |
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