SAMPLE PROPERTY · Estate, vendor, rents and all figures are fictitious
Kranichsteig
112 flats in four blocks, built 1969, partly modernised. Passing rent avg. €6.91/m², rent index avg. €7.36/m².
- €8.5mPrice, e.g.
- €1,263per m² residential
- 15.1xMultiple of passing rent
- 4.25%NIY
Passing rent is on average
€0.46/m² below the rent index.
- 01112flats, 6,732 m² residential; 20 × 1, 34 × 2, 46 × 3, 12 × 4 rooms; 48 garages
- 02€6.91passing rent avg. per m², rent index avg. €7.36
- 0397.3%let by units (96.9% by area); 3 flats being modernised
- 048.0%annual tenant turnover, avg. 2023 to 2025; 2026 to 30 Sep: 12 changes
- 0515.1xmultiple of passing rent, GIY 6.64%
- 064.25%NIY after operating costs and 7.2% purchaser’s costs; €1,263 per m² residential
Price shown as an example. Passing rent €564,558 p.a. incl. 44 let garages. NIY 4.25% after operating costs of €177,583 p.a. (management, garages, maintenance, rent loss, non-recoverable costs, vacancy, CO2 cost share) and 7.2% purchaser’s costs.
40 of the 109 let flats are below the rent index range. Since 2023, modernised flats have been relet at €7.81 to €8.35 per m².
South-western edge of Kassel,
300 m from the forest.
Kranichsteig 2 to 20, a 21,400 m² site with lawns between the blocks. Residential area with schools, nurseries and shops; tram stop at the door. The university and the hospital are half an hour by tram.
- 1Tram stop250 m, 3 min walk
- 2Primary school, nurseries, shops400 to 700 m
- 3Edge of the forest, footpaths300 m
- 4Kassel-Wilhelmshöhe station (ICE)3.2 km, 12 min by tram
- 5City centre, Königsplatz5.5 km, 20 min by tram
- 6A44 motorway4 km, 6 min drive
The rent roll on the facade,
as at 1 October 2026.
Each square is a flat, arranged as on the facade. Choose above what the colours show; tap a flat for rent, rent index and tenancy start.
Block A No. 2, 4, 6
Block B No. 8, 10, 12
Block C No. 14, 16, 18
Block D No. 20
Rent index: fictitious values modelled on a qualified rent index, construction years 1961 to 1977, average location; modernised flats with a premium. Rent roll with lease data in the data room.
21,400m²
site area, about two thirds of it green space with mature trees, a playground and bicycle sheds.
Rent rises in three steps
from €0.56m to €0.67m p.a.
All three steps are calculated per flat. Kassel is not listed in the Hessian tenant protection ordinance (valid to 25 Nov 2026), so the 20% cap applies and there is no rent cap (Mietpreisbremse) on new lettings. If flats that fall vacant are modernised and relet, turnover of 8.0% adds about €4,918 of annual rent each year.
Passing rent p.a.residential €540,798, garages €23,760
Increases under § 558 BGBup to the index mid-point, max. 20% in three years; 79 flats
Letting the three vacant flatsafter modernisation at €8.20/m²
Modernisation charge § 559 BGBafter wall and basement insulation, blocks A to C, tenancies before 2023 only, capped
Rent after works14.9x on price plus €1.57m cost of the steps
Charge calculated without subsidies; grants reduce the rechargeable cost. Hardship cases not deducted. The successor ordinance (draft covering 71 municipalities) must be checked before purchase. Assumes no § 558 BGB increase since 10/2023; increases no earlier than 15 months after move-in or the last increase. No charge is assumed for flats let since 2023.
Windows, roofs and heating have been renewed;
walls and basement ceilings are not yet insulated.
Windows (2008) and roofs (2016) have been renewed. Block D (10-storey tower, high-rise under the Hessian building code) was reclad in 1992 with fibre-cement panels on 6 cm insulation, has two lifts from 2015 and a 2024 fire safety report; no further insulation is planned there. Requirements to 2030 are estimated at €2.95m, plus €22,000 per flat on change of tenant.
- 2008Windows, uPVC double glazing, all blocks
- 2011Gas condensing boiler plant, central hot water
- 2014since 2014 bathroom, floors and wiring on change of tenant where needed; 47 flats done
- 2016Roofs re-covered, top floor ceilings insulated
- 2019Riser replacement, blocks A and B
| Planned measure | Year | Cost | Improvement share |
|---|---|---|---|
| External wall insulation 14 cm incl. plinth, loggia parapets, scaffolding, blocks A to C | 2027 | €1,380k | 70% |
| Basement ceiling insulation, all blocks | 2027 | €120k | 100% |
| Riser replacement, blocks C and D | 2028 | €620k | 0% |
| Loggia concrete repairs, blocks A to C | 2028 | €350k | 0% |
| District heating connection, gas boilers removed | 2030 | €480k | 60% |
| Total | €2,950k |
Charge under § 559 BGB, walls and basement ceilings
- rechargeable cost
- €1,050,706
- 8% of cost p.a., per m² per month
- €1.47
- cap per m² over 6 years
- €2.00 below €7/m², else €3.00
- additional rent p.a. after cap, tenancies before 2023
- €53,308
Basement ceilings pro rata for blocks A to C (€84,706); no charge for block D. District heating 2030: for A to C the cap is used up until 2033; the switch follows § 556c BGB and the Heat Supply Ordinance (cost neutrality), possibly § 559e BGB. Non-rechargeable repair share of the measures: €1.58m.
Energy efficiency class E,
D after insulation and district heating.
After insulation and connection to district heating, consumption falls to a calculated 114 kWh/(m²·a). CO2 emissions drop from 28.5 to 14.8 kg/(m²·a); the landlord’s share of CO2 costs falls from 40% to 10%.
final energy, kWh/(m²·a)
CO2 Cost Allocation Act: landlord share of CO2 costs in %, ten bands by kg CO2/(m²·a)
today 28.5 kg · €4,611 p.a.after works 14.8 kg · €599 p.a.
- Type of energy certificate
- Energy consumption certificate (residential)
- Final energy consumption
- 142 kWh/(m²·a)
- Energy efficiency class
- E
- Main heating energy source
- Natural gas
- Year of construction per certificate
- 1969
- Primary energy consumption
- 156 kWh/(m²·a)
- Issued, valid until
- 3 Feb 2025, 2 Feb 2035
Fictitious values. One certificate for all four blocks, consumption incl. hot water. CO2 price assumed at €60/t; the landlord’s cost rises with the price, while the 40% share depends only on emissions per m².
Price e.g. €8.5m
at 15.1 times passing rent.
At a price of e.g. €8.5m, that is €75,893 per flat. After the rental upside steps the multiple would be 14.9x on price plus €1.57m for walls, basement ceilings and the three vacant flats (15.8x incl. purchaser’s costs). Price plus non-rechargeable repairs to 2030 (€1.58m): €1,497/m². With all measures and modernisation of the remaining 62 flats: €1,903/m².
| Type | m² | Units | Area m² | Share % | Rent €/m² | Index €/m² |
|---|---|---|---|---|---|---|
| 1 room | 38 | 20 | 760 | 11.3 | 6.95 | 8.18 |
| 2 rooms | 54 | 34 | 1,836 | 27.3 | 6.98 | 7.53 |
| 3 rooms | 68 | 46 | 3,128 | 46.5 | 6.85 | 7.18 |
| 4 rooms | 84 | 12 | 1,008 | 15.0 | 6.89 | 6.98 |
| Total | 112 | 6,732 | 100.0 | 6.91 | 7.36 |
- Passing rent p.a.
- €564,558
- Management, €430 per flat
- −€48,160
- Garages, €150 each
- −€7,200
- Maintenance, €14/m²
- −€94,248
- Non-recoverable costs 1%
- −€5,646
- Rent loss allowance 2%
- −€11,291
- Service charge on vacant flats
- −€6,427
- CO2 costs, landlord share 40%
- −€4,611
- Net operating income p.a.
- €386,975
- Price e.g. + 7.2% costs
- €9,112,000
- Net initial yield (NIY)
- 4.25%
- Gross initial yield, multiple
- 6.64% · 15.1x
Average residential rent on let area. Rent index fictitious. Asset deal; purchaser’s costs: Hessian real estate transfer tax 6.0%, notary and land registry about 1.2%; no buyer’s commission. No occupancy or rent restrictions (subsidised loan repaid in 1998), one land register folio, not split into condominiums, no ground lease, not listed. Service charges 2025 avg. €2.60/m², heating avg. €1.15/m² per month. Arrears at reference date €4,200 across two tenants.
Six views of the estate
Visualisation, sample property
Documents for your review
and when you receive them.
- Information memorandum (PDF)available
- Rent roll per flat with start date and last increaseafter NDA
- Service and heating cost statements 2023 to 2025after NDA
- Energy certificate, floor plans, area calculationavailable
- Land register, building encumbrances (Baulasten), contamination registerin the data room
- Hazardous materials survey (vinyl floor tiles, adhesives, PCB)in the data room
- Technical review 2026 with cost estimatein the data room
Placeholders. No documents are stored in this demo.
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Request documents or a viewingA sample property showing how we build sales websites for properties. Estate, address, vendor, rents, images and all figures are fictitious. Images are AI visualisations.
