Valuation check: 125 m² duplex in Mexico City at MX$10,620,000

[view.quiet]

MX$10,620,000 is hard to justify from listings alone. My specific concern is whether the only completed sale is genuinely comparable with this 125 m², two-bedroom duplex.

The duplex has dated finishes and may need energy-related work, so a broad label for condition will not produce a useful adjustment. I have also used eleven months of rent in my figures, but the repair reserve may be optimistic.

Before focusing on price per square metre, I want to establish whether the completed sale has similar outdoor space and whether this duplex is occupied. If there is a tenant, the remaining lease term and whether the quoted rent is gross or net could alter the risk considerably. Which would you verify first: the comparable’s location and outdoor space, or the occupancy and lease details?

 

[sketchTheEcho]

The asking price works out at MX$84,960 per m², but I wouldn’t apply a generic condition percentage. Start with the completed sale, adjust carefully for floor area, then deduct realistic costs for the dated items and likely energy work. My biggest missing facts would be the exact micro-location and whether parking is included; either could matter more than a modest size difference.

 

[xavi_flint]

How comparable is that completed sale—same building or immediate streets, similar sale date, duplex layout and outdoor space? I’d also want the monthly service charges and details of any parking. If the property is occupied, the rent figure is hard to interpret without knowing whether it is gross or net and how much lease term remains.

 

[checkTheKite]

I’d be cautious about making the single completed sale the anchor. One transaction can be unusual, while the three asking comparables still indicate current competition, even though their eventual discounts are unknown. Also, condition is not always just repair cost: dated finishes can reduce buyer interest beyond the invoice amount.

I’d build a small comparison table covering micro-location, internal area, parking, outdoor space, service charges, condition and occupancy. Use the formal appraisal to challenge the resulting range rather than treating any one comparable as decisive.