T2 Apartment 47 m² for Sale Paris 11 - €580,000, DPE C

The listed price of the apartment is €580,000 for a surface area of 47 m², which corresponds to a price per m² of €12,340 (calculated from the listed price and the declared characteristics). For the 11th arrondissement of Paris, the average price per m² is around €10,500 according to DVF (Données de Valeur Foncière) data from 2022. Thus, this property is above the market median, with a premium of about 17% compared to the sector median.

Over the last 12 months, prices in the 11th arrondissement have increased by about 5% (source: Notaires de France, consulted in September 2023). This trend is supported by a growing demand for real estate in well-served areas by public transport and close to amenities.

In terms of positioning, this apartment stands out for its 8 m² terrace, its very good condition, and its proximity to the Voltaire metro and the Gardette square, assets sought after by buyers.

For a purchase price of €580,000, notary fees for an old property are estimated between 7% and 8%. Taking an estimate of 7.5%, the notary fees would amount to approximately €43,500 (calculation based on the displayed price and declared characteristics).

The total acquisition cost would therefore be €623,500.

For a loan at an average current rate of 3.4% over 20 years with a down payment of 10% (€58,000), the amount borrowed would be €522,000. The monthly payment would be around €3,200, excluding insurance (estimate based on current professional scales).

In terms of rental yield, if this apartment is rented at an average price of €1,800 per month, the gross yield would be 3.72% (calculation based on annual rent divided by the purchase price). After deducting charges and property tax, the net yield could be around 3%.

The annual holding cost, including the property tax estimated at €1,200 (estimate based on industry averages), condominium fees (approximately €1,000 per year), and home insurance (approximately €300), would be around €2,500 per year.

The apartment has an energy performance certificate (DPE) rated C with a consumption of 167 kWh/m²/year and a greenhouse gas emissions (GES) rating of B with 6 kgCO2/m²/year. The annual energy costs are estimated between €790 and €1,090 (estimate based on declared characteristics).

According to the Climate & Resilience law, apartments rated F and G can no longer be rented starting in 2025, which is not the case here. To improve the energy class to B, energy renovation work would be necessary, estimated between €10,000 and €20,000 (indicative range based on current professional scales).

Assistance such as MaPrimeRénov' and Energy Saving Certificates (CEE) can be mobilized to finance this work, with amounts that can go up to €7,000 depending on the household income.

The apartment is located in the 11th arrondissement of Paris, in close proximity to the Voltaire metro station (line 9), which allows for quick access to the center of Paris. The station is about 500 meters away, or a 7-minute walk. The neighborhood is also well-served by several bus lines.

In terms of amenities, the Gardette square is nearby, offering a green space appreciated by residents. Many shops, restaurants, and healthcare services are within walking distance, contributing to the quality of life in the area.

The demographics of the 11th arrondissement show a median income of around €30,000 per year, with a young and dynamic population, attracting many buyers and renters. The quality of life is generally considered good, with green spaces and a lively atmosphere.

The property is located in an urban area, with a low flood risk according to Géorisques data. However, it is important to check for any easements and the Local Urban Planning Plan (PLU) that could affect future projects in the neighborhood.

Regarding regulations, the Energy Performance Certificate (DPE) must be provided upon sale, and mandatory diagnostics (asbestos, lead, etc.) must be carried out. In the case of rental, rent control is in effect in the 11th arrondissement, with a reference rent set at €1,800 for a T2 (source: Rent Observatory, consulted in September 2023).

Buyers should also be aware of the legal deadlines for the sale and the buyer's rights, particularly regarding withdrawal.

Compared to other similar properties in the 11th arrondissement, this apartment is positioned above the median in terms of price per square meter. T2 apartments in the neighborhood generally sell between €10,000 and €11,500 per square meter, placing this apartment in a higher range, justified by its terrace, condition, and location.

Identified premium factors include the quality of the recent co-ownership and additional amenities such as parking and a cellar. On the other hand, drawbacks may include the fact that it is located on the 2nd floor without an elevator, which may deter some buyers.

The estimated negotiation margin could be 5 to 10%, depending on market interest and competing offers.