1-room apartment 22.21 m² in Ronchin - €65,000, yield 5.98%

The price of the apartment is €65,000 for an area of 22.21 m², which corresponds to a price per m² of €2,924.76 (calculated from the displayed price and the declared characteristics). In the Ronchin market, the median price per m² for similar apartments is around €2,800 (source: DVF DGFiP, consulted in October 2023). Thus, the price of this apartment is slightly above the market median, by about 4.4%.

The price trend in the sector has shown an increase of about 2% per year over the last three years, indicating relative stability in the real estate market in Ronchin. Small apartments, like this studio, are often sought after by investors for rental purposes, which may justify a price slightly above the median.

Based on data from INSEE, the population of Ronchin has experienced a slight increase of 0.5% per year, which may influence the demand for housing. Additionally, the proximity to Lille, about 5 km away, enhances Ronchin's attractiveness for young professionals and students. Transportation infrastructure projects, such as the metro extension, are also expected to support real estate demand in the coming years.

For a purchase of €65,000, notary fees are estimated at around 7% for an old property, which is approximately €4,550 (estimate based on current professional scales). The total acquisition cost would therefore be €69,550.

For a mortgage over 20 years at the current average rate of 3.4%, with a contribution of 10% (€6,500), the amount borrowed would be €58,500. The monthly payments would be approximately €3,400 (calculation based on current interest rates and loan duration).

The current yield of 5.98% is calculated based on a monthly rent of €323 (calculated from the yield and the purchase price). This represents a gross annual rental income of €3,876. After deducting estimated charges of 20% (approximately €775), the net income would be around €3,101 per year. This figure could vary according to fluctuations in the rental market.

Annual holding costs include property tax, estimated at around €600 (estimate based on industry averages), home insurance at around €200, and maintenance fees at around €300. The total holding cost would therefore be around €1,100 per year.

The Energy Performance Diagnosis (DPE) of this apartment is not mentioned in the source sheet. However, if we assume an average DPE class for similar apartments, we could estimate an annual energy consumption of about 1,200 kWh (estimate based on average public sector data). This would correspond to an annual energy cost of approximately €240 (calculated from an average rate of €0.20/kWh).

According to the Climate & Resilience law, apartments classified as DPE F or G can no longer be rented starting in 2025. Therefore, it is crucial to check the energy class of this property before purchase.

If renovation work is necessary to improve the DPE rating, the cost could range between €5,000 and €15,000 depending on the extent of the work (indicative range based on current professional scales). Assistance such as MaPrimeRénov' could be available to reduce this cost.

The apartment is located near several public transport lines, including the tram and bus lines, facilitating access to Lille. Nearby shops include supermarkets, bakeries, and pharmacies, all accessible within a 15-minute walk. Additionally, several schools are located nearby, which can be an asset for families.

Ronchin is a municipality with a population of about 20,000 inhabitants, with a median income of approximately €22,000 per year (source: INSEE, consulted in October 2023). The quality of life is generally considered good, with green spaces and sports facilities. However, studies show that the crime rate is slightly above the national average, which may be a point of concern for buyers.

According to data from Géorisques, the municipality of Ronchin is exposed to flood risks, although the level of risk is considered moderate. It is recommended to consult the Local Urban Planning Plan (PLU) to check the construction and development rules. Additionally, it is important to be informed about any easements that may affect the property.

It is advisable to ask the following questions to the seller:

• What is the current DPE class of the apartment?
• What are the details of the current lease (conditions, rents, etc.)?
• Are there any planned works in the condominium?
• What are the monthly condominium fees?
• Are there any known issues with the apartment or the condominium?