A 110 m² house for €95,000 works out at €864 per m². That price alone makes this listing worth a look.

The house sits in Agioi Vavatsinias, a hill village in the Larnaca district. Our model shows an 8.3% gross yield and a 14.2% IRR. The question: how much of that holds up in a small village?

Property Overview

For Sale
Larnaca
2 bed 1.0 bath 110 m² other
Purchase€95,000 Est. rent /mo€654 Equity IRR14.23% Average yearly return on the cash you put in over a 10-year hold, buying and renting out as-is, with no renovation. Appeal★ 4.2/10
Cap Rate6.26%
Cash-on-Cash4.87%
DSCR (Y1)1.40x
ConditionFair

Torquity rates the appeal at 4.2 out of 10 and the condition as fair. The village setting pulls the score down. The numbers look better.

After the mortgage, the house brings in about €140 a month. Cash-on-cash reaches 4.87%, and DSCR sits at 1.40x. You need only around €35,000 of your own money to get in.

Rent Estimates

Based on 8 comparables
€654 per month
8Comparables
33%Avg match
4938mAvg distance
€6/m²Price / m²
Weighted by similarity to your property · your estimate highlighted
€508 Low end €851 High end

Our model puts rent at €654 a month. Every comparable lets for €900 or more, so the estimate looks cautious.

The comparables sits 4 to 7 km away, and most have three bedrooms. A village has fewer tenants than a town. Even at the low end of €508, the gross yield still reaches 6.4%.

Financial Projection

10-year hold
Equity IRR14.57% Average yearly return on the cash you put in over a 10-year hold, including the recommended renovation (€6,100) and the higher rent after it. Equity Multiple3.03x Total Profit€82,501 Year-1 DSCR1.40x
Cumulative cash flow

Over 10 years, the model shows €82,501 in profit and a 3x return on your money. The 14.57% IRR here includes the refurbishment, which explains why it differs from the 14.23% in the overview.

Much of that profit depends on price growth. A village attracts less buyers than Larnaca town, so selling can take time. Run a flat-price scenario in Torquity before you make an offer.

Comparable Properties

8 found
Ethnikis Antistaseos · 3bd · 120m² 47.0% match 4752m away €1,000
Ethnikis Antistaseos 20 · 3bd · 150m² 35.0% match 4817m away €1,000
Ethnikis Antistaseos 20 · 3bd · 160m² 34.0% match 4752m away €900
Ethnikis Antistaseos 20 · 2bd · 85m² 34.0% match 6858m away €1,300
Ethnikis Antistaseos 20 · 3bd · 160m² 30.0% match 4817m away €1,300
Comparable · 3bd · 200m² 29.0% match 3852m away €1,000
Comparable · 3bd · 200m² 29.0% match 4842m away €1,000
Ethnikis Antistaseos 20 · 1bd · 45m² 27.0% match 4817m away €1,500

The model found eight rentals, all at least 3.8 km away. The average match sits at 33%. The village has no rental data of its own.

Five listings share one address with different sizes, so treat the distances with care. A 45 m² flat at €1,500 looks like an outlier, and I would ignore it.

Renovation Analysis

1 room scored

The model gives this house 8 out of 10 for upside. A €6,100 refurbishment could lift rent by 19%, to about €778 a month. That figure stays inside the local range, so it looks realistic.

Balcony before renovation Balcony after renovation Before After

Balcony — Repaint exterior masonry with high-grade white weather-resistant paint (€850)

Our renovation model scores this property 8/10 for upside, projecting a 19% rent uplift after refurbishment.

Recommended refurbishment cost€6,100

One gap: the model priced only the balcony paintwork at €850. Ask the agent for interior photos to see where the other €5,250 goes.

Verdict

As a cash-flow buy, yes, with checks. The yield is high and the entry cost is low. Ask local agents how fast similar houses let. Confirm the house has its own title deed.

As a growth bet, stay careful. Resale in a small village moves slowly.

Hidden gems

  • €864 per m² for a 110 m² house
  • Yield above 6% even at the lowest rent
  • Small entry ticket of around €35,000

Pitfalls

  • No comparables in the village itself
  • €5,250 of the refurb budget has no breakdown
  • Slow resale and fewer tenants