Ready-to-rent two-room apartment with high rental income in Oulu
This competitively priced two-room apartment offers a return on equity of up to 25.76% and a cash flow of €171/month with 70% financing.
Debt-free price €38,900
Cash flow / month €329.52
Rental income 10.17
Information about the apartment
| Address | 11-13 Ruiskukkatie |
|---|---|
| Apartment | C 23 |
| Type | 2 hours + month |
| Area | 50.5m2 |
| Rent | 529 € |
| Maintenance fee | 199,48 € |
| Status |
Free
|
Fully furnished investment apartment in Rajakylä, Oulu
- Good rental yield of over 10% and strong cash flow of €329/month
- Neatly renovated two-room apartment with a satisfied tenant
- Sold at a very competitive price
- Check out another property in Rajakylä, Oulu location
- Return on equity up to 25.76% and cash flow €171.52/month with 70% financing*
*Loan calculated based on a 20-year loan period and a total interest rate of 3.5%. The equity requirement is €11,670 and the loan repayment including interest is €158/month in this calculation. Cash flow is calculated using the formula: rent + maintenance charge + financing charge + loan repayment = €171.52/month.
Renovations completed:
The following major renovations, maintenance, and alterations have previously been carried out on the company's buildings:
Renovations & Extensions (2000-2001)
- Extension:
- 8 new apartments (total area 386 m²)
- Average apartment size: 48 m²
- Renovation:
- Focused on apartments completed in 1974 and the company's structures.
Contents of the renovation (HVAC):
- Heating cables:
- District heating substation renovated.
- The channel between the buildings has been renovated.
- Line control and line shut-off valves replaced.
- Radiator valves replaced.
- Heating network adjusted.
- Heat pipe networks cleaned before final filling.
- Water pipes:
- Water supply network renewed.
- Line control and line shut-off valves replaced.
- The cold water pipe in the channel between the buildings has been replaced.
- The plumbing fixtures in the apartments have been replaced.
- Drains:
- All internal and external drains replaced with plastic piping.
- Exception: Cast iron pipes (sound insulation) installed in suspended ceilings in apartments.
- Bathroom floor drains replaced.
- New rainwater drainage lines and rainwater wells installed outside the building.
- Ventilation:
- Mechanical exhaust ventilation largely unchanged.
- The old channels have been cleaned out.
- Enclosed exhaust fans cleaned.
- Engines replaced.
- Fan bearings replaced.
- Pulleys replaced.
- Straps replaced.
- Control changed to pressure control (frequency converters).
- Ventilation in new apartments: apartment-specific roof fans.
Facades:
- Windows and balcony doors replaced.
- New window openings have been cut into the ends of the building.
- The outer shell and insulation of the sandwich structure dismantled from the ends.
- The demolished structure was replaced with new insulation and insulation plaster.
- outer shell of the floor: brickwork and three-layer plaster.
- Panel cladding between windows on the 2nd and 3rd floors replaced with Steni-color polymer facade elements.
Renovations carried out in the apartments (during the refurbishment or slightly earlier):
- Apartment doors replaced.
- Bathrooms renovated.
- Surfaces in dry areas renovated.
- Fixed furnishings replaced.
Other repairs (during renovation or slightly earlier):
- Balconies renovated.
- Roofing replaced.
- Facades painted.
- Maintenance and repair work in accordance with the service manual.
Future repairs and maintenance:
- Adjustments to the heating curves of district heating systems
- Inspection of window and door seals and, if necessary, repair of seals/hinges
- Checking the condition of welded seams in plastic mat flooring in bathrooms / repairing seams if necessary
- Roof inspection (annual procedure)
- Condition inspection of balcony railings
- Renewal of element joints
- Cleaning of ventilation ducts
You can find more detailed information and materials about the housing company here.
Photos of the property for sale
Floor plan of the apartment
Apartment condition points
| Average condition score for the apartment | 3 |
|---|---|
| Average surface area of apartment | 3 |
| Average condition of the kitchen | 3 |
| Average condition of bathrooms | 3 |
| 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
Oulu as an investment city
Oulu – A northern growth center full of opportunities
Oulu, the capital of Northern Finland and the fifth largest city in Finland, has long been one of the most attractive investment destinations in the northern half of the country. With over 210,000 inhabitants, Oulu is known for its technological expertise, diverse educational offerings, and continuous population growth. Thanks to these factors, Oulu offers residential investors a stable and developing operating environment.
Why invest in Oulu?
Growing population – steady demand for rentals:Oulu's population has been growing steadily, with young adults and students making up a significant portion of the city's population. This creates continuous and stable demand for rental apartments both in the city center and in developing suburban areas.
- A student city with plenty of tenants:Oulu University and Oulu University of Applied Sciences attract tens of thousands of students every year, keeping the rental market active, especially for studio and one-bedroom apartments. In addition, many students stay in the area to work after graduation.
- A technology city with a growing economy:Oulu is internationally renowned for its high-level technology development and ICT expertise. The city is home to major employers such as Nokia, the University of Oulu, and companies in the health technology sector. The strong employment situation also creates a stable demand for family housing.
- Reasonable price level in relation to returns:Although Oulu is a large city, housing prices remain more moderate compared to the major cities in southern Finland. This enables competitive rental returns and a better investment yield.
- Developing urban structure and living environment:Oulu is investing heavily in the development of new residential areas, transport links, and services. Hiukkavaara and Linnanmaa, for example, are developing areas that combine modern construction with a functional everyday environment.
Oulu offers residential investors a combination of growth, stability, and appeal based on technological expertise. Affordable housing, a vibrant rental market, and the city's continuous development make Oulu an excellent choice for investors seeking both long-term cash flow and value appreciation.
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Aarne Urvas
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