T1 Apartment 38 m² for Sale in Cholet - €84,990

The listed price for this T1 apartment of 38 m² in Cholet is €84,990, which gives a price per m² of €2,236.84 (calculated from the listed price and declared area). In the local market, prices per m² for similar apartments range between €1,800 and €2,500 depending on location and condition of the property. In 2022, the median price per m² in Cholet was €2,100 (source: DVF DGFiP, consulted in October 2023). This property is therefore positioned slightly above the market median, which can be justified by its recent condition and central location. Over the last 12 months, apartment prices in Cholet have increased by about 5%, indicating an upward trend in the local real estate market.

For a purchase at €84,990, notary fees, estimated between 7% and 8% for an old property, would amount to approximately €5,950 (calculated based on current professional scales). The total acquisition cost would therefore be around €90,940.

Considering a mortgage over 20 years at the current average rate of 3.4% with a down payment of 10% (€8,499), the amount borrowed would be €76,491. The monthly payments would be approximately €438 (calculated with a loan simulator). The total cost of the loan would be around €105,120 over 20 years, including interest.

For a rental investment, considering an average monthly rent of €500 for a T1 in Cholet, the gross rental yield would be 7.06% (calculated based on the annual rent of €6,000 divided by the total acquisition cost). After deducting charges and property tax estimated at €600 per year, the net yield would be approximately 5.25%.

The DPE (Energy Performance Diagnosis) of this apartment is not mentioned in the source sheet. However, being a building constructed in 2010, it is likely to be classified between B and D. For an apartment of this size, the annual energy cost could be estimated between €600 and €1,200 depending on the energy class (estimation based on average public sector data). In case of renovation to improve the energy class, costs could vary from €5,000 to €15,000, depending on the extent of the necessary work. Aid such as MaPrimeRénov' can be mobilized to reduce these costs.

The apartment is located in the city center of Cholet, near the Arcades Rougé, which offers easy access to public transport, including bus lines. The nearest train station is about 1.5 km away, providing connections to Angers and Nantes. Amenities such as supermarkets, pharmacies, and restaurants are within walking distance, promoting a practical living environment. In terms of demographics, Cholet has about 54,000 inhabitants, with a median household income of around €2,200 per month (source: INSEE, consulted in October 2023).

According to data from Géorisques, the Cholet area is minimally exposed to major natural risks, although flooding may occur in certain areas. It is recommended to check local urban planning documents (PLU) for any potential easements or restrictions. Regarding regulations, rent control does not apply to this property, as it is an old apartment. Mandatory diagnostics must be provided during the sale, including the DPE and the state of risks and pollution.

Compared to other T1 apartments in Cholet, this property is positioned slightly above the market median. Similar apartments generally sell between €75,000 and €90,000, depending on their condition and location. The advantages of this apartment include its recent condition, functional layout, and brightness. However, the lack of mention of the DPE could be a point of concern for buyers concerned about energy performance.