AllGrund Ltd. | HRB 50527 AG Offenbach
Immanuel-Kant-Str. 35 | 63303 Dreieich
Tel.: 06103 310847 | Fax: 06103 8073755
Email: service@allgrund.com Homepage: www.allgrund.com
Bj. 1962, 227m² living space, 562m² ground.,
ZIP Code:
60489
City or town:
Frankfurt am Main
Number of residents whole community:
750.000
Federal country:
Hessen
Asking Price:
€ 595,000.00
Comment on purchase price:
Price does not include the plot of land because it has heritable building rights
Price per sqm living or other space:
€ 2,621.00
Parking possibility:
There are two garages on the property, which is included in the purchase price
Brokerage commission to be paid by buyer incl. VAT (% of notarized purchase price):
5.80 %
Commission payable by:
Buyer
Note on the commission:
The buyer pays at the conclusion of the notarial deed a commission in the amount of 5.80% of the authenticated purchase price.
Purchase extra costs:
Maklerprovision 34.510
Notar, Gericht ca 6.200
Grunderwerbsteuer ca. 2.940
Genehmigung Erbbaurechtsgeber ca. 600
ca. 44.250 gerundet ca. 45.000 €
(ohne Gewähr)
Type of Land plot:
Inner city
Size of Landplot:
562.00 m²
In a nutshell:
Heritable building right remaining term 39 years, annual lease rent € 2,992; with full letting approx. € 27,000 annual net rent income
Year of construction:
1962
Detailed description of the object:
Three-family house with two full storeys, developed attic. Ground floor and top floor rented, 1st floor free and renovated. Partly insulated (on the weather side).
Features:
The ground floor and first floor were completely renovated in 2014 and 2015 (new surfaces, ceilings, walls, floors, new electrics, new radiators, insulated radiator niches, new water and sewage pipes, a new bathroom by merging the old bathroom and toilet, a new one Storage room was also created in this way.
The heating system was renewed in 2019, the loft, the basement ceiling and the north facade were insulated as insulation measures. The chimney head was renewed in 2018, the garage roofs in 2016.
Type of energy performance certificate:
Residential building consumption certificate
Residential Building - Final Energy Value:
198.00 kW/m²a
Main energy source:
Natural gas
Year of construction of building according to EPC:
1964
Year of Construction of the heat generator according to EPC:
1985
Energy consumption for hot water included:
included
Energy efficiency class:
F (< 200)
Date of Energy Performance Certificate:
14 Aug. 2018
Description of location:
The house is located in a quiet side street of Rödelheim. Local supply centers are easy to reach. Brentano-Bad, Rewe, Aldi etc. are also within walking distance. The Nidda is only a few hundred meters away.
City district:
Rödelheim
Public transport connection:
Rödelheim train station with S 3, S 4, S 5 is only about ten minutes away. From there also city buses in different directions.
General noise level of location:
Quiet
MFH Number of residential floors total:
3
Living area:
227.00 m²
Type of construction:
Solid
Number of flats (apartments) in building:
3
Number of flats (apartments) per full size storey:
1
Attic storey developed:
yes
Basement (cellar area):
Full cellar
Heatable living or usage rooms in basement:
no
Number of full sized storeys:
2
General information on the renting situation:
Ground floor tenant € 780 cold rent for 83 sqm, + € 50 for a garage. Unchanged since rental began on November 1st, 2014.
One of the two original tenants in the attic has been in the apartment since 1.1.2000. With a new lease, the apartment was taken over to one of the original tenants on March 1, 2014, but now in a shared apartment with another tenant. According to the rental agreement, the basic rent is € 460; since 1.1.2020 increased to 500, - € cold. From January 1st, 2022, it will be increased to € 530. The garage was rented for € 50.
The apartment on the 1st floor is free.
The annual net rent can be increased to € 26,880 when renting the 1st floor at the same conditions as the ground floor. After deducting the annual ground rent, this means a return of 4% on the purchase price!
Other information or specialties:
Yield calculation (no guarantee!)
Purchase price € 595,000
Due to the leasehold contract, a maximum loan of 80% is possible.
-> Financing: € 476,000
Incidental acquisition costs:
Reduced property tax: 2940, - €
(€ 2,992 * 16.386 compounding factor for the remaining term of the leasehold contract 39 years)
Notary and court including order mortgage: € 7,590
Broker's commission (5.8% on purchase price): € 34,510
TOTAL PURCHASING EXPENSES: € 674,550
Less borrowed capital € 476,000 = 198,550
Rounded equity costs: approx. € 200,000
Return calculation for equity expenditure:
Cold rental income pa 29,000.00 €
Less 12% rent default risk, administration, maintenance
= € 3,500 per year
Less 4% interest and repayment on loans of € 476,000
= € 19,040
Remaining as interest on the equity employed:
€ 6,460
And 3.23%, respectively.
Tax aspects such as depreciation and interest loss deduction as well as repairs and non-allocable operating costs (administration, material costs, etc.) are not taken into account here. These may improve the return a little.
The costs for the notary, court, land charge as well as the reduced real estate transfer tax in the case of leasehold are to be checked again in the event of purchase or verified by a notary and tax advisor.
Is there an inheritable right of lease?:
Yes
Start of heritable building right:
1. Januar 1962
End date heritable building right:
31. Dezember 2060
Ground rent p.a. at acquisition:
€ 2,922.00
Agreed adjustment mode:
Depending on the development of land prices
Agreement concerning end of contract:
Compensation for two-thirds of the common value of the building to the leaseholder
Standard land value :
€ 505,800.00
Other contractual agreements:
Leasehold contract exists and can be viewed by interested parties.
Explanations to the inheritable right of lease:
The leaseholder is the St. Katharinen- und Weißfrauenstift in Frankfurt am Main
Reduced purchase tax:
Approx. 2940 € (without guarantee)
What is the outstanding feature of this property:
Good return, solid property, beautiful location - the perfect combination for an investor. And personal use is also possible.
Comment:
You will receive all information about the leasehold contract and the house as part of an individual viewing appointment. The two rented apartments cannot be shown on the first visit.
Note regarding the photos:
The photos only show the 1st floor (the free apartment). Pictures of the rented apartment cannot be shown for reasons of confidentiality.
General Terms and Conditions
The property has been proven by AllGrund Immobilien GmbH Dreieich. Upon conclusion of the purchase contract, the brokerage fee, which the buyer pays to AllGrund, amounts to {courage} of the purchase price incl. VAT, due and earned with the notarial purchase contract. Subject to prior sale or letting. All information without guarantee, errors excepted. Contracts and brokerage contracts are concluded according to German law.
Right of withdrawal: The undersigned hereby confirms that he/she may withdraw from the brokerage contract within 14 days of the conclusion of the contract by email, fax or letter without stating reasons. However, the service of the broker shall be deemed to have been claimed and fulfilled if the undersigned, waiving his right of withdrawal, requests the conclusion of a purchase contract before the expiry of the 14 days. Notwithstanding the foregoing, the above-mentioned commission shall be payable to the broker only and in any case upon conclusion of a purchase contract. No further costs shall be incurred either in the event of revocation of the brokerage agreement or in the event of failure to conclude a purchase agreement for this property. The same applies in the case of a rental agreement.
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Right of withdrawal / cancellation policy
Please note the following important information for you as a consumer regarding your right of revocation!
You have contacted us as an estate agent and would like to rent or buy a property (house, flat etc.) offered by us. By doing so, you are entering into a brokerage contract according to the law. This does not necessarily have to be concluded in written form, but can also be done by so-called conclusive behaviour. You give us the order to arrange a property for you, to show it to you, or to inform you of the address or to establish contact with the seller or landlord. As soon as we have given you this information, we are generally entitled to commission. (It is like in any other business - you want a service and we as a service provider have earned a fee for it, if the service has been rendered completely - or if necessary also partially).
In the following we explain your right of withdrawal according to § 355ff. BGB
We will be happy to answer any further questions you may have. Please note that these explanations refer exclusively to your right of revocation of the brokerage contract, but not to rental or purchase contracts. You as the client may revoke your contractual declaration as described above vis-à-vis the estate agent within 14 days of the conclusion of the contract without stating any reasons (e.g. by letter, fax, e-mail). The time of the conclusion of the contract is generally considered to be the time when you commission the estate agent to send you details of the offered property or to act on your behalf (e.g. viewing appointment, sending of an exposé or further information, forwarding of the address, rental contract, purchase contract etc.). In any case, the receipt of this revocation instruction in paper form is the latest point in time at which the 14-day revocation period begins.
In order to comply with the revocation period it is sufficient to send the revocation in due time by letter to AllGrund Immobilien GmbH, Immanuel-Kant-Straße 35, 63303 Dreieich or by fax to 06103/8073755 or by e-mail to service@allgrund.com or SMS to 0151-58703200. Sending the revocation to us on the last day of the revocation period is deemed to be in due time. If you send us your cancellation by email, we recommend that you use a second means of communication, preferably by fax, as emails can sometimes end up in automatic spam filters over which we have little control. You are also welcome to call us to make sure that we have received your cancellation. However, you cannot revoke orally. After proper revocation, any payments already made by you to us must be returned to you as the client without delay, at the latest within fourteen days of receipt of the revocation by us. No fee will be charged to you as principal for this return of payments. The return of the payments shall be made in the same way as the payment was made by you.
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Order for the provision of services before the end of the cancellation period
If you wish to commission us to provide a service before the expiry of this 14-day revocation period (e.g. viewing, naming an address, sending detailed documents, naming landlord or seller), you thereby declare to us that you have been informed of this and agree that your right of revocation thereby expires.
If you have nevertheless already received services from us by the time you exercise your right of revocation in due time, you thereby declare that, in the event of a revocation of this conclusion of the contract, you shall pay a customary, reasonable remuneration for the services rendered up to the time of revocation, which remuneration shall correspond to the share of the services already rendered in the total scope of the contractually agreed services. If the proof of the opportunity to conclude a contract or for the mediation of a contract has been provided, this shall correspond to the total scope of our services. Other services rendered up to that point (viewings, consultations relating to the purchase or rental, etc.) are to be remunerated by you, if applicable, in an appropriate and customary manner in accordance with the broker's effort, insofar as the entire service has not yet been rendered in full.
Expiry of the right of withdrawal through complete performance of the service
You, as the client, are hereby notified that your fourteen-day right of cancellation set out above will expire once we have fully and properly provided the contracted services.
Please note:
The law requires us to provide you with this cancellation notice for each property brokered by us. There is no possibility to declare a general waiver of this requirement. Therefore, if you are requested to sign this confirmation again at each viewing, this is solely due to the legal regulations to which we are bound. If an exposé states that you, as a potential tenant or buyer, do not have to pay any commission (for example, because the agent is remunerated by the landlord or seller or, if applicable, is offering a property from his own property), the right of withdrawal does not apply.
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