The house and constructed in the second half of the thirtieth years of the 20th century is Fored Sale. The house is in a historical part of Prague-3 Zhizhkov.
Description of the district of this property
This property is in the district Prague-3 and Zhizhkov. It is one of the most beautiful and prestigious districts of Prague and since is near the center and but is very silent and convenient for life and with the complete and very developed infrastructure. This district is very developed. There is a set of restaurants and of little shops and public transport in the form of trams and buses and shopping center FLORA.
From this property to Václav Square about 15 minutes on foot or the 5th minutes on the car and 7 minutes by tram.
Detailed description of a property
The profitable house in the district Prague-3 and Zhizhkov and who includes in the wide center of Prague is Fored Sale. Condition of a property — very good and but demands reconstruction for the purpose of the following resale of a property on Apartments. Total number of Apartments in home — 19. The total area of Apartments is 1080 sq.m. Parking spaces can be organized at the expense of the agreement with adjoining houses on 20 places. Near the house there are 2 stops of the tram and 1 stop of the bus. To the center trams with an interval go 3-4 minutes and the way to Wenceslas Square takes 7 minutes. On the car about 5 minutes. Set of restaurants and shops and shopping center Flora (cinema and shops and restaurants and big grocery store) and offices of banks and td.
Amounts of the investments
Project cost is 1.342.000 euros
Maintaining property (complete execution of the transaction — repair of a property — sales/leasing) — 2.5% of real estate value — 33.550 euro
Repair work of Apartments (including the electrician and heating and painting and paintings and materials) — from 10.000 — 15.000 euro for the Apartment (depending on the area of the Apartment and). On average 12.500 for the Apartment. (in more detail when estimating)
Repair work of an entrance — on average 2000 euros for the floor.
Bathroom fitments and kitchens — individually and since in 50% of cases of the Apartment are Fored Sale only in final finishing.
Lamps and registration of an entrance — individually by drawing up the estimate.
House facade — about 50.000 euros. In more detail by drawing up the estimate.
Total: 1.342.000 + 33.550 + 19 x 12.500 + 6 x 2.000 + 50.000 = 1.675.050
Calculation of profitability at resale of a property on Apartments.
Calculations are made with the relevant prices in this district for this real estate. The prices of the new real estate in this district are 2.500 — 3.000 euro for 1 sq.m (proceeding from positioning of a property (the middle class of repair and a repair premium class). Proceeding from the total costs of this project the price for 1 sq.m is equal to 1.551 euros (without includeding some points on p. 6). (Total investment is divided into the general selling - living space of the house)
In home 1080 sq.m — living space
Proceeding from these data: 2.500 — 1.551 = 949 euros for 1 sq.m.
The general profit from sale: 949 * 1080 = 1.024.920 euros
Calculation of net profit and taxation.
Income tax of physical person * — 15%
Tax on property sale * — 4% of sale cost.
The general profit from sale: 949 * 1080 = 1.024.920 euros.
The tax on property sale is equal to the amount of the general selling project cost (1.675.075+ 1.024.920) — 4% = 107.999 euros *
Income tax = 15% of 1.024.920 = 153.738 euros *
Net profit = 1.024.920-107.999-153.738 = 763.183 euros.
Presumably net profit will decrease by 200.000 euros due to registration of an entrance and of installation a dignity. technicians and kitchen lines.
Also there are options of positioning of this property as luxury (at the expense of it the quality of repair — will increase; repair expenses and improvement and and also time of sales and but will increase the total profit of revenues).
