This listing includes AI condition scoring, neighbourhood intelligence, and market valuation data — giving you a complete picture before you visit. Compare rental yield, price per square metre, and location strength against the broader Portuguese market to assess whether this property fits your investment strategy.
3-bedroom, 2-bathroom apartment of 120 m² on the 1st floor, energy rating A+. Located on rua da Cerca, 21, Almada, Cova da Piedade, Pragal e Cacilhas parish, Almada municipality, Setúbal district. Noteworthy Features: The apartment boasts a magnificent 47 m² terrace, perfect for outdoor entertaining, and is located in an exclusive area adjacent to Casa da Cerca, enriching its historical significance.
The valuation. The asking price of €460,000 is significantly below the fair value of €568,696, indicating that this property is undervalued by €108,696 (19.1%). This presents a compelling entry point for investors.
Fair value modelled at €568,696 from 5 comparable sales in the area. Asking €460,000 sits €108,696 (19.1%) below — the upside to fair value.
Asking €460,000 versus the rua da Cerca, 21 area baseline of €478,146 (€3,985/m²) for a median-condition unit of this size — the gap before quality adjustments.
AI Condition Index 79/100 is above the parish average, lifting fair value versus a typical-condition unit.
Recent nearby listings price above the wider parish average — a hyper-local premium distinct from the parish baseline.
Base gap of €478,146, adjusted for condition and micro-location, gives a modelled fair value of €568,696 (€4,739/m²), a €108,696 (19.1%) gap versus the €460,000 asking price.
| Reference | Status | Price | €/m² | vs subject | Condition | Location |
|---|---|---|---|---|---|---|
| rua da Cerca, 21 | Subject | €460,000 | €3,833 | — | 80 | 76 |
| travessa da Horta Navia, 6 | Active | €798,000 | €5,356 | 39.7% | 72 | 83 |
| largo do Calvário | Active | €649,000 | €4,327 | 12.9% | 85 | 80 |
| rua Padre Adriano Botelho, 5 | Active | €545,000 | €4,739 | 23.6% | 85 | 84 |
| Laranjeiro e Feijó · 90d8b6 | Active | €800,000 | €11,765 | 206.9% | 80 | 74 |
| Median comp | €723,500 | €5,048 | 31.7% | 83 | 82 |
Long-term rental The property offers a fair value gap of 19.1%, indicating a pricing opportunity for long-term rental investors. With a robust location in Greater Lisbon, it is likely to attract stable tenants seeking a quality living environment. Family rental With its spacious 120m² layout and proximity to amenities, this apartment represents an advantageous option for family rentals. Given the modest neighborhood score of 76/100, families will value the accessibility while enjoying a well-maintained property as evidenced by its 79/100 condition rating. Buy-and-hold Acquiring this property as a buy-and-hold investment seems beneficial given the substantial gap between listing price and fair value. As the housing market continues to develop in the Greater Lisbon area, investors may see an appreciation in property value over the long term.
Tenant turnover risk The tenant stability score of 70/100 indicates a moderate likelihood of tenant turnover, which could impact cash flow stability during leasing transitions.
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Comparables, condition and location workings, yield and time-to-sell. Written up and emailed to you.
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