House for sale • 431 m² without real estate, North Rhine-Westphalia

Here is the English translation of the text:

The property is a solidly built multi-family house with a total of six residential units and an overall living area of approximately 430 m². The plot covers around 400 m² and additionally offers a small garden as well as an inner courtyard, which are available to the tenants in common. A garage is also provided.

The building presents itself externally in a solid and well-maintained condition. The façade, the roof, and the basement are in good condition and show no fundamental defects. The technical infrastructure is modern as well, since the property was fitted with a state-of-the-art heating system in 2018. Thus, the building’s structural foundation is sound – only the interior residential areas require modernization measures.

The interior areas of all six apartments could be renovated. This includes, in particular, new flooring, the refurbishment or renewal of wall and ceiling surfaces, a renovation of the bathrooms including sanitary installations, as well as a general modernization of the electrical installations and in part the doors. These works affect only the interiors and offer the buyer the opportunity to equip the apartments in a contemporary style and position them optimally in the market. While not absolutely necessary in every unit, these measures are recommended.

The property is located at Eimterstraße 44 in Herford, in a quiet yet centrally connected residential area. The surroundings are characterized by well-maintained multi-family houses as well as smaller single- and two-family houses, creating a pleasant and neighborly environment. Shopping facilities, schools, doctors, and everyday services are reachable within a few minutes. The Herford city center and the main train station are also well connected and can be quickly reached by public transport or car. The location is particularly suitable for families, commuting professionals, and couples who prefer a quiet living environment with good infrastructure.

Renovation & Costs

• Interior renovation: new flooring, wall/ceiling surfaces, modern bathrooms/sanitary installations.

• Measures are clearly defined and can be implemented quickly.

• Renovation cost: €152,200 → Total costs: €517,200 (€365,000 purchase price + renovation).

• Renovation can be carried out by the owner or, if desired, by our company after the transfer of ownership.

• Monthly surplus: approximately €866.

Rent & Profitability (with modernization)

• Realistic rent: €8.50–€10.00 per m².

• Monthly income: €3,236.50.

• Factor: 13.3 | Gross rental yield: 7.5%.

• Financing (4% interest / 1.5% repayment): Annual annuity of €28,446 or €2,370.50 per month.

• Monthly surplus: approximately €866.

Alternative: Basic Restoration Only

• Cost: €30,000–€40,000.

• Rent: approximately €7.00 per m² → €3,010 monthly rent.

• Factor: ~11.8 | Gross rental yield: ~8.5%.

• Monthly surplus: approximately €1,150–€1,200.