A fully rented studio apartment in Nokia with a rental yield of over 11%, selling for just €12,039
The property has a rental yield of over 11%. The building has undergone plumbing renovations, is situated on its own lot, and is heated by geothermal energy.
Debt-free price €30,000
Selling price 12,039 €
Cash flow / month 97.75 €
Rental income 11.5 %
Information about the apartment
| Address | 38–40 Miharintie |
|---|---|
| Apartment | AS 10 |
| Type | 1 hour + month |
| Area | 34.5 sq.m. |
| Rent | 460 € |
| Maintenance fee | 172,5 € |
| Financial compensation | 189,75 € |
| Debt ratio | 17 960 € |
| Status |
Free
|
A fully leased studio apartment in Nokia with a rental yield of over 11%
- A neat and spacious studio apartment, already rented out
- Located in a residential area close to nature, just 10 minutes from Nokia’s amenities
- A well-maintained housing complex
- A building with renovated plumbing and energy-efficient geothermal heating
- The plumbing and bathrooms were renovated in 2019
- An excellent rental yield of 11.5% and a positive cash flow of €97
- Return on equity of up to 31.27% and cash flow of €171.50 per month with 70% financing*
- *Loan calculated based on a 20-year term and a total interest rate of 3%. The monthly loan payment, including interest, is €116.00 in this calculation. Cash flow is calculated using the formula: rent + maintenance fee + loan payment = €171.50/month
Basic information about the housing company
- Name of the housing company:Asunto Oy Nokian Miharintie 38-40
- Building type:Row house
- Year built:1945
- Number of apartments:10
- Floors:1
- Elevator:No
- Sauna in the building:No (planned)
- Building material:Wood
- Roof type:Gable roof
- Roofing material:Tin roof
- Energy class:C2018
- Energy Performance Certificate:Yes (valid until August 29, 2029)
- Property antenna system:Cable TV
- Lot size:4,950 m²
- Land ownership:Own
- Property Management:KJ-Kiinteistöhuolto Oy
- Property Management:Retta Isännöinti Oy, Nokia
- Zoning status:Local master plan (City of Nokia)
- Heating:Geothermal
Renovations carried out in the housing company
- 2000– Installation of exhaust air systems, replacement of heating equipment, pipe renovation (service and sewer networks), and renovation of the electrical system
- 2009– Cleaning of ventilation ducts and adjustment of airflow rates
- 2011– Condition Assessment
- 2017–2018– Painting of stairwells
- 2018– Design of underground utility line rehabilitation and geothermal heating
- 2019– Installation of geothermal heating, replacement of water pipes, replacement of line and radiator valves in the heating system (including replacement of radiators and heating pipes), bathroom renovations, and roof inspection and repair
- 2021– Cleaning of ventilation ducts, landscaping plan, and renovation of the front yard
- 2022– Backyard Renovation
- 2023– Replacement of rear doors
- 2024– Replacement of smoke alarms
- 2025– Leaf Compost
Maintenance needs assessment
- 2025– Redirecting rainwater away from the foundation, completely replacing the concrete steps (particularly 38 as1, 40 as3, and 40 as6), installing rodent screens in the roof structures, and maintaining the swings and sandbox
- 2026– Maintenance of dry chemical fire extinguishers (February)
- 2027– Property condition assessment, feasibility study for the construction of an outdoor sauna (to replace the barbecue area), and planning of maintenance painting for the facades (including a color study)
Pictures of the apartment
Floor plan of the apartment
Apartment condition points
| Average condition score for the apartment | 3,6 |
|---|---|
| Average surface area of apartment | 3,5 |
| Average condition of the kitchen | 3,5 |
| Average condition of bathrooms | 4 |
| Description | Condition | Impact on re-renting |
| 1 | Broken and requires immediate replacement or repair. | This will likely affect re-renting. |
| 2 | Clear signs of wear, but still usable. | May affect re-renting. |
| 3 | In habitable condition and meets the tenant's needs. | Unlikely to affect re-rental. |
| 4 | Very neat and in good condition. | Unlikely to affect re-rental. |
| 5 | In new condition. | Does not affect re-renting. |
The condition scores for each living space are averages based on detailed condition scores for the different rooms in the apartment. Check out the detailed condition scores for the apartment in the apartment materials!
Location of the destination on the map
Real estate investor's return and loan calculator
Estimated loan amount (monthly)
Cash flow
Return on equity (ROE)
Required equity capital
Nokia as a city for investment
Nokia – A growing and vibrant part of the Tampere metropolitan area
Nokia is a city of approximately 36,000 residents that offers real estate investors a unique combination of stability and growth potential. As part of the developing Tampere metropolitan area, Nokia benefits from the appeal of the entire Pirkanmaa region, yet often offers investors more competitive prices and excellent rental yields compared to downtown Tampere. The city’s strong industrial heritage and modern economic structure create a solid foundation for continued demand for housing.
Why choose Nokia for real estate investment?
Nokia is a city where living, working, and nature come together seamlessly. Its location is logistically excellent: fast train connections and a well-developed road network ensure that you can reach downtown Tampere in just over ten minutes. This makes Nokia a very attractive place to live, even for those who work or study in neighboring cities.
The city’s ongoing development and investments in new services, such as the recently completed wellness center and the new high school, reinforce the area’s long-term appeal. Nokia’s proximity to nature and the lakeside scenery of Lake Pyhäjärvi attract residents who value quality of life and excellent outdoor recreation opportunities. For investors, Nokia offers a diverse range of properties, from stable brick-and-mortar homes to newer buildings, and the city’s reasonable prices per square meter enable exceptionally strong cash flow.
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Aarne Urvas
Sami Suojala
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