House for sale in Iserlohn, Germany

Based on the property description provided, I will attempt to analyze it from a buyer's perspective and estimate its value for real estate investment and as a lifestyle purchase. Property overview: This property is a two-family home with two separate living units, built in 1954 with an annex and garage, located in Iserlohn, Germany. It has a total living area of 103/81 m² (including the annex and garages) and is in need of some maintenance and repairs. The property consists of two separate apartments: Apartment 1: - Underground level: Esszimmer, Gäste-WC, Arbeitszimmer, - Ground floor: Foyer, Hall, Kitchen, Living Room, Terrace - 1st floor/attic: Foyer, Bathroom, Bedroom, Loggia Apartment 2: - Ground floor: Foyer, Hall, Kitchen, Living Room, Bathroom, Bedroom - 1st floor: Foyer, Guest Room, Bedroom, Bathroom, Living Room The property is heated by gas and has a water supply system. There are reported maintenance needs, damage, and a termite infestation. Real estate investment potential: With a listed price of 174,000€, the property seems to be priced competitively given the potential for renovation and redesign. The renovated property could easily increase its value per square meter by creating more functional space and improving the overall condition of the property. This would enable the owner to potentially generate a higher rental income. The property's location in Iserlohn also seems to be beneficial, as it's a popular area with an affordable cost of living, which may attract potential tenants. Lifestyle purchase: This property would be an excellent choice for someone looking to create a multigenerational living situation or for someone who wants to have additional income by renting out one of the apartments. The two-family layout offers plenty of space for a growing family or for hosting guests. The property's location in the middle of a residential area provides added privacy and offers easy access to local amenities. The property also offers two terraces, providing outdoor space for relaxation and entertainment. In conclusion, this property can cater to both a functional and aesthetic lifestyle. Overall, the property offers potential for both short-term living and long-term investment. However, it is crucial to address the reported maintenance issues and ensure a thorough inspection before making a final decision. Considering the potential for renovation and redesign, the property could be an excellent investment opportunity.