Vienna 2-bed at €671,600 and €2,279 rent: does the financing kill it?

Consider the exit as well. If future buyers apply a more demanding yield to the same net income, resale value may disappoint even if rent collection was steady during the hold.
 
I’ve reduced this to three ledgers: unit operations, shared-building exposure and financing. Mixing them into one monthly cash-flow total makes it hard to see which assumption actually breaks the deal.
 
The “one larger repair reserve” should be annualised over the intended holding period. Otherwise its placement in one forecast year can make surrounding years look artificially healthy.
 
Ask whether parking, storage, furniture or anything else is included in either price or rent. No need to assign value yet; just ensure the asset and income descriptions match.
 
There is an opportunity-cost question too. A low net yield might still be acceptable to someone prioritising this specific asset, but financing should not turn that preference into recurring cash strain.
 
Vacancy allowances are often discussed as percentages, but this case needs an event-based scenario: tenant leaves, rent stops, preparation costs arrive, and a replacement begins later. That exposes liquidity needs more clearly.
 
Common-property work concerns me more than routine unit maintenance because the timing is less controllable. Read what has been discussed, not only what has already been formally budgeted.
 
It would help if mia returned with the rent breakdown and loan proposal. Those two items would let the thread move from identifying unknowns to estimating actual cash flow.
 
For a quick financing test, take conservative annual net operating income, subtract the annual cash buffer you refuse to compromise, and treat the remainder as the debt-service ceiling. If lenders require more, stop there.
 
I’m less worried about a normal vacancy assumption than about using €2,279 without proof. A carefully modelled percentage cannot repair an optimistic starting rent.
 
Another useful case is zero rent growth for the whole planned hold while costs rise whenever invoices require it. If the purchase depends on regular rent increases, that dependence should be visible.
 
My practical sequence: verify achievable rent, reconcile actual condo bills, inspect association finances and planned works, price management for the required scope, obtain financing terms, then rerun both unlevered and leveraged returns.
 
When reviewing the condo papers, confirm whether any announced work has already been funded or still requires contributions. The same project can have very different consequences for a buyer depending on timing.
 
For clarity, €27,348 divided by €671,600 is about 4.07%, so 4.1% is only the rounded gross calculation. It offers no information about whether the monthly rent is legally repeatable or economically collectible.
 
I’d seek several truly comparable rents rather than one nearby listing: similar size, condition, location and lease circumstances. Asking prices alone can establish competition, but not necessarily achieved income.
 
Run the acquisition twice: all cash and with the proposed financing. If the all-cash net yield is already inadequate, changing leverage only rearranges the problem.
 
The thread’s consensus is not that Vienna costs are unknowable. It is that this particular deal lacks the documents needed to classify them. Actual building and tenancy records should replace broad local assumptions.
 
My decision rule would be simple: no offer based on €2,279 until the rent composition and support are clear; no final price until common-building exposure and full acquisition cash are included.
 
The parking, storage and furniture question also affects turnover. If any are bundled into €2,279, decide whether they remain with the condo and whether replacement or upkeep belongs in the forecast.
 
After-tax yield cannot be answered sensibly without the investor’s circumstances. Compare deals on pre-tax property economics first, then have the personal Austrian and home-country treatment assessed separately where relevant.
 
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