Townhouse 20 rooms in Castelsarrasin - €365,000

The listed price for this house is €365,000 for an area of 638 m², which gives a price per m² of approximately €572.31 (calculated from the listed price and declared characteristics). In the Castelsarrasin market, the average price per m² for old houses is around €1,200 (source: DVF DGFiP, consulted in 2023). This indicates that the price of this house is 52% below the market median, which can be attractive for an investor looking to renovate and enhance a property.

Over the last 12 months, house prices in Castelsarrasin have shown a rising trend of 5%, with increasing demand for properties to renovate, notably due to the appeal of projects to convert into apartments.

Estimation based on average public data from the sector.

For the purchase of this house, notary fees are estimated between 7% and 8% of the purchase price, or approximately €25,550 to €29,200 (indicative range based on current professional scales). This would bring the total acquisition cost to approximately €390,550 to €394,200.

Regarding financing, with a down payment of 10% (€36,500), the amount to be financed would be €328,500. At the current average rate of 3.4% over 20 years, the monthly payment would be around €1,900 (calculated from current interest rates).

For an investor, the gross rental yield can be estimated at 7-8% if the property is divided into 7 to 8 apartments, with an average rent of €600 per apartment, resulting in a total rental income of €4,200 per month. This would give a net yield after expenses of approximately 5% (estimation based on local rental market data).

The house is classified DPE D, indicating moderate energy consumption. The estimated annual energy cost for a property of this size could be around €2,500 to €3,000 (estimation based on average public data from the sector).

According to the Climate & Resilience law, properties classified F or G will no longer be able to be rented from 2025, but this property is not affected. To improve the DPE class, energy renovation work may be required, with an estimated cost between €15,000 and €30,000 (indicative range based on current professional scales). Aid such as MaPrimeRénov' can be mobilized to finance this work.

The house is located in the heart of Castelsarrasin, in immediate proximity to shops, schools, and administrations. The city is well served by public transport, with regular bus lines and a nearby train station, facilitating access to Toulouse (about 30 minutes by train).

Demographically, Castelsarrasin has a population of about 12,000 inhabitants, with a median income per household of around €24,000 (source: INSEE, 2021). The quality of life is appreciated for its green spaces and calm atmosphere, although the city is developing with ongoing urban planning projects to further enhance the region's attractiveness.

The house is located in a low flood risk area, according to Géorisques data. However, it is important to check for any easements that may affect the property.

In terms of regulation, the PLU (Local Urban Plan) of Castelsarrasin should be consulted to know the possibilities for conversion into apartments and any potential constraints. Mandatory diagnostics, such as asbestos and lead, must also be carried out before the sale.

Buyers should ask critical questions about the general condition of the building, the work needed, and any restrictions related to the transformation of the property.

Compared to other houses in Castelsarrasin, this property is positioned below the market median. Similar houses generally sell between €1,000 and €1,500 per m², placing this house at an attractive price for an investor.

The advantages of this property include its potential for conversion into several apartments and its central location. On the other hand, the disadvantages include the need for significant renovation work and uncertainty regarding regulations on the transformation of historic buildings.