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 77 m², built in 1977. Located on rua Nossa Senhora Carmo, 26, Setúbal (São Julião, Nossa Senhora da Anunciada e Santa Maria da Graça) parish, Setúbal municipality, Setúbal district. This apartment features a stunning sea view and abundant natural light, enhancing its appeal as a bright and welcoming living space.
The valuation. The asking price of €220,000 is €24,475 (10.0%) below the fair value of €244,475, indicating the property is underpriced. This presents an attractive opportunity for investors seeking value in a competitive market.
Fair value modelled at €244,475 from 6 comparable sales in the area. Asking €220,000 sits €24,475 (10.0%) below — the upside to fair value.
Asking €220,000 versus the rua Nossa Senhora Carmo, 26 area baseline of €193,797 (€2,517/m²) for a median-condition unit of this size — the gap before quality adjustments.
AI Condition Index 74/100 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 €193,797, adjusted for condition and micro-location, gives a modelled fair value of €244,475 (€3,175/m²), a €24,475 (10.0%) gap versus the €220,000 asking price.
| Reference | Status | Price | €/m² | vs subject | Condition | Location |
|---|---|---|---|---|---|---|
| rua Nossa Senhora Carmo, 26 | Subject | €220,000 | €2,857 | — | 70 | 50 |
| Setúbal (São Sebastião) · 652fce | Active | €285,000 | €2,850 | 0.3% | 74 | 39 |
| Setúbal (São Julião, Nossa Senhora da Anunciada e Santa Maria da Graça) · ba5ac0 | Active | €360,000 | €3,529 | 23.5% | 75 | 56 |
| praçeta das Janelas Verdes, 3 1 | Active | €329,000 | €3,500 | 22.5% | 73 | 56 |
| rua Tenente Jean Raymond | Active | €270,000 | €2,621 | 8.3% | 70 | 52 |
| Median comp | €307,000 | €3,175 | 11.1% | 74 | 54 |
Long-term rental The property is subvalorizada at €220,000 compared to the fair value of €244,475, offering a 10% gap which implies potential for solid rental income. With a gross yield of 5.4% and a decent condition score of 74/100, this apartment can attract steady long-term tenants in the area despite the average neighborhood rating of 50/100. Buy-and-hold Investing in this apartment is a prudent choice given its current subvalorizada status, providing a margin for growth as the local housing market stabilizes. The combination of a reasonable yield and the potential for property appreciation makes it a strategic buy-and-hold opportunity as Setúbal continues to develop economically.
Economic downturn risk With an economic stability score of 40/100, there is a significant risk of adverse market conditions affecting property value and rental income.
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Comparables, condition and location workings, yield and time-to-sell. Written up and emailed to you.
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