house for sale in Riedstadt, Germany

From a buyer's perspective, this property is a semi-detached house with 259 m² of living space, a garden, and a garage, featuring two levels and an attic. The house, built in 1964 and later expanded in 1996, offers a total of 89 m² of living area, 71 m² in the ground floor, and 118 m² in the attic. Additionally, there is an annex with a terrace and a cellar. The property is in decent condition but could use some updating and modernization, particularly in relation to the 30-year-old heating system. For real estate investment, the property would suit those looking for a medium to large-sized house with potential rental income opportunities due to its size and layout, as well as the possibility for expansion if needed. However, the current heating system needs an update, and that could be a significant investment. Estimated rental income potential is approximately €1,690 per month, with a cash-on-cash return of 3.09% or an initial yield of 3.39% assuming a purchase price of €610,000. As a lifestyle purchase, the property would be suitable for a family or individuals looking for a spacious home with ample living space, a garden, and parking options. Its location in Riedstadt, a well-connected suburban area in Hessen, would provide easy access to city amenities, transportation, and schools. However, some modernization work may be required to make the property more comfortable and energy-efficient. Price-wise, with a listed price of €610,000, which can be potentially negotiated, the property offers good value for a semi-detached house with a garden and garage in Riedstadt. When considering the discounts and potential savings mentioned in the description (e.g., a 30% discount on the transaction value, amounting to around €183,000, and ongoing savings on notary and broker fees), the effective purchase price comes down to €427,000. Overall, the property can be considered a fair investment, with attractive rental income potential and the added benefit of being close to amenities and transportation routes, while unnecessary costs such as notary and broker fees have been minimized due to the auction process. The main factor that might need to be considered is the potential additional cost and hassle of updating the old heating system to make the property more energy-efficient and comfortable for living.