Rented 3-room apartment + kitchen — €50,000 below the agent's valuation of a pipe-renovated building!, Kuopio

For sale to the highest bidder: a rented, pipe-renovated three-room apartment in good condition in a great location!

Why bid on this property:

✅ Low purchase price -> excellent return on equity

✅ Starting price €50,000 below market value!

✅ Monthly rent €925 -> net rental income €510 per month

✅ Cash flow essentially not negative
✅ Good and reliable tenant (clean credit history)
✅ Condominium loan -> enables leverage and tax deduction benefits
✅ Location – peaceful, close to nature, near services and the beach, 2 km to the centre.
✅ Major building renovations completed -> worry-free apartment in a good area

Kuopio as an investment city:

Kuopio is located in the North Savo region on the shores of Lake Kallavesi. It has over 120,000 residents and is Finland's 8th largest city (Source: www.kuopio.fi). In 2020 Kuopio ranked 1st among Finland's largest cities in the Pellervo Economic Research Institute survey (Source: www.vuokranantajat.fi).

Kuopio offers a wide range of services and good transport connections, with several shopping centres, restaurants, cultural venues and sports facilities, and many annual events. It is especially known for its beautiful nature and lake scenery. Kuopio is attractive to property investors; the housing market has been stable and property prices reasonable compared with other major Finnish cities. A growing student population also increases demand for rental housing.

The housing company:

The company comprises one building with 26 apartments. The company's financial position and ability to pay are good. The most significant renovations have been carried out; a detailed list is below. The building is quiet and the atmosphere is good. Rental demand in the area and in the company is excellent.

The apartment and the tenant:

This is a tidy second-floor three-room apartment with a balcony. The apartment has a dishwasher. The unit is rented under an indefinite tenancy agreement to reliable tenants with a clean credit history starting 15/11/2025. The first possible notice-to-terminate date is 01/09/2026, so the landlord has secured rental income. A new dishwasher has just been purchased for the apartment.

Rental yield:

The monthly rent is €925. After the maintenance charge the property yields €510.00 per month, i.e. €6,120.00 per year. The apartment is allocated a housing company loan of €59,134.12 (as of 30/09/2025). The housing company loan has been recognised in the company accounts, so the financing charge is fully tax-deductible.

Valuation and market price:

A comparable three-room apartment in the same building in satisfactory condition was sold in October 2025 for €119,134. A real estate agent has valued this apartment's market price at €130,000 (valuation attached), so the starting price is over €50,000 below the market valuation!

Distances:

- 150 m bus stop
- 160 m K-Market
- 750 m Kalevala School
- 1.4 km Honkalahti bathing beach
- 2 km travel centre
- 2.1 km Kuopio city centre
- 2.2 km Kuopio harbour
- 2.3 km Kuopio City Library
- 4–5 km University of Eastern Finland campuses

Major renovations:

- Windows and balcony doors renewed 1999
- Lifts installed and stairwells renovated 2006
- Site mains and main sewer renewed 2006
- Exhaust ventilation units renewed 2008
- Service water pipes renewed and apartments fitted with water meters 2013
- Balconies refurbished and glazing installed 2018
- Sewer network relined (sukitus) 2021

The deposit must be paid immediately after the auction ends. The sale will be completed by 31/12/2025 using an electronically signed contract.

Bid here to secure yourself a great investment for Christmas at a huge discount!