T2 flat in Rua Os Armacenenses, Armação de Pêra, Silves
T2 flat in Rua Os Armacenenses, Armação de Pêra, Silves — image 2T2 flat in Rua Os Armacenenses, Armação de Pêra, Silves — image 3T2 flat in Rua Os Armacenenses, Armação de Pêra, Silves — image 4T2 flat in Rua Os Armacenenses, Armação de Pêra, Silves — image 5
Grade Bapartmentmid-range

T2 flat in Rua Os Armacenenses, Armação de Pêra, Silves

Silves · Central Algarve ·

€395,000

Asking Price (EUR)

4.4%

True Net Yield (Owner, all-in)

3.1%

True Net Yield (Managed, all-in)

6.8%

True Gross Yield

45%

Occupancy

Projections — conservative (data maturing)

Our Airbnb calendar dataset started 1.8 months ago and is currently at 15% maturity. Yields shown apply a conservative calibration (realised-ADR factor 0.74, occupancy cap 66%) that auto-fades to full fidelity by April 2027.

Projected Gross Revenue: €31,378/yr
Average Daily Rate: €193
+2.0% vs area baselineImage quality 6/10 (-3%), Portuguese-traditional style (+5%), Has pool (0%)
Payback Period: 15.6 years
5-yr Capital Value: €519,024
10-yr Capital Value: €631,472
Brixfox Score: 64.7 / 100
Comparable Properties: 61
Data Confidence: 94%
Search Radius: 2 km

True Investment Cost

Portuguese transfer tax (IMT) + stamp duty (IS) + notary + registration + legal + renovation + full furnishing & STR launch setup.

€459,595

+16.4% over asking

Asking price€395,000
IMT — Property transfer tax (investment schedule)€19,430
IS — Stamp duty (0.8%)€3,160
Notary (escritura)€1,000
Property registry€250
Legal fees (~1.5%)€5,925
Total acquisition costs€29,765
Renovation (est. €55/m² × 136 m²)
Light touch-ups — paint, fixtures, deep clean.		€7,480
(€4,080–€10,880)
Furnishing & STR launch (2bd × €4500 base, mid-range tier)
Furniture, appliances, electronics, linens, AL licence setup, launch photography.		€27,350
All-in investment (incl. renovation & furnishing)€459,595

Gross yield (asking price)

7.9%

True gross yield (all-in)

6.8%

Estimates use Portugal's investment IMT schedule (non-permanent residence). Actual notary & legal vary; budget +€500–1,000 for surveyor, due-diligence and bank-mortgage fees if financing. Renovation cost is a heuristic on property condition × m² — verify with a site visit. Furnishing uses finish-level-tiered rates covering beds, living, kitchen, electronics, AL licence, linens & professional photography. Working capital (2-3 months operating buffer) not included.

Bedrooms: 2
Building: 136 m²
Style: portuguese-traditional
Condition: good
Private Pool

AL Licence Status Unconfirmed

AL licence status unconfirmed — verify before purchase

Design Features

communal pooltraditional wooden doors

Score Breakdown

ROI
17.67
Visual Appeal
10.4
Ownership Security
13
Location
8.4
Land & Space
4.72
Rental Demand
4.46
Payback Speed
3
STR Suitability
3

Description

Live the dream in the heart of Armação de Pêra Imagine waking up every day with the Algarve sun streaming into your home, feeling the gentle southern breeze, and having the pool and gardens as a natural extension of your home. This magnificent 2-bedroom apartment, located in the prestigious Condomínio do Carrascal, is

Location

📍 37.1000°N, 8.3580°W

· Silves, Algarve, Portugal

View on Legacy Group →Also on Idealista.pt
Idealista.pt
Silves / Central Algarve

T2 flat in Rua Os Armacenenses, Armação de Pêra, Silves

Inventory
2 Beds
Bathrooms
0 Baths
Built Area
136 m²
Land Plot
0 m²
Tenure
Freehold
Yield Curve Status

Grade B investment — short-term rental yields 5.4% net return annually.

Go to Source via Idealista.pt

The Investment

Brixfox Score65
GradeB
Brixfox Intelligence
65BStrong
Score Breakdown
ROI & Yield72%
Capital Growth68%
Risk Profile67%
Market Demand65%

The Brixfox Score is our proprietary AI-powered rating that evaluates rental ROI, capital appreciation potential, risk factors, and local market dynamics to give you a single investment quality metric.

Pro members get full score breakdown with AI recommendations
Average annual ROI over 5 years, combining both rental income and property value growth.
Total
+9.1%
Per Year (5yr avg)
Annualized projected property value change based on historical area appreciation rates (5-year average).
Capital Growth
+3.8%
+$74K in 5yr (+19%)
Estimated monthly net income after deducting management fees, operating costs, and taxes.
ROI Nett Rental Income
5.4%
$1,924/mo
Estimated time for the total investment value (equity + accumulated rent) to double.
100% Profit
10 yr
Combined
Number of years to fully recoup the initial purchase price using only net rental income.
Payback
18.6 yr
Rental only

Property details

Condition: good

Description

Live the dream in the heart of Armação de Pêra Imagine waking up every day with the Algarve sun streaming into your home, feeling the gentle southern breeze, and having the pool and gardens as a natural extension of your home. This magnificent 2-bedroom apartment, located in the prestigious Condomínio do Carrascal, is

Income Breakdown

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Nightly Rate (ADR)
$281/night
50% ($129)Brixfox estimate($281/night)200% ($518)
Occupancy
45%
10%Brixfox estimate(45%)100%

Short-Term Rental

Yearly income
$23,092
Airbnb data$281/night · 45% occupancy
Rental income
$281/night · 45% occ.
$45,853
Running costs (20%)
Utilities, cleaning, maintenance
-$9,171
Income tax (10%)
Indonesian rental income tax
-$12,839
Property tax
Annual property tax
-$751
Net income
5.4% ROI
$23,092

Long-Term Rental

No long-term rental data available

Not enough comparable rentals in this area

True all-in investment

What the headline asking price actually costs once mandatory taxes, fees, renovation, and furnishing are added. Yields rebased onto this number — closer to what you'll really earn against what you'll really pay.

Asking price$429,348
IMT (transfer tax, investment schedule)$21,120
Imposto de Selo (stamp duty)$3,435
Notary & registration$1,359
Legal / due diligence$6,440
Total acquisition costs$32,353
Renovation (~$60/m²)
Light touch-ups — paint, fixtures, deep clean.		$8,130
($4,435–$11,826)
Furnishing & STR launch
2bd × $4,891 base + appliances, electronics, outdoor, licence, photography, linens.		$29,728
All-in investment$499,560

Gross yield (asking)

10.7%

True gross yield (all-in)

9.2%

Estimates use Portugal's standard transfer tax + typical legal/notary defaults. Verify with local counsel before committing — actual fees vary by deal structure.

Growth & Exit Strategy

How your investment grows over time

Freehold — 4%/yr appreciation in Silves.

$2.6M$2.0M$1.3M$659K$0Yr 0Yr 5Yr 10Yr 15Yr 20Yr 25Yr 30Paid back2x ReturnToday: $395K
Capital appreciation
Property value growing at +4%/yr based on Silves market trends.
Rental income
Cumulative net rental earnings collected over time, growing with annual revenue increases.
Total return
Capital value + rental income. Your actual total position if you sold and kept all rent.
Paid back
Year 15: rental income alone has repaid the full purchase price.
2x return
Year 10: total gains (capital + rental) have doubled your initial investment.
Year 5
Capital Value
$481K
+22%
Rental Income
+$113K
Total Position
$593K
+50%
8.5%/yr
Year 10
Capital Value
$585K
+48%
Rental Income
+$244K
Total Position
$828K
+110%
7.7%/yr
Year 20
Capital Value
$865K
+119%
Rental Income
+$571K
Total Position
$1.4M
+264%
6.7%/yr
Year 30
Capital Value
$1.3M
+224%
Rental Income
+$1.0M
Total Position
$2.3M
+480%
6.0%/yr

Location

Silves

Central Algarve, Approximate area

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Airbnb Comp Analysis

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Villa Scorecard

Location
Average
Emerging or secondary location
Rental Yield
Good
5.4% annual return
Occupancy
Weak
45% average occupancy
Nightly Rate
Strong
$259 per night
Visual Appeal
Good
6/10 instagrammability
Size & Space
Weak
0 m² land area
Zoning
Average
STR zoning not confirmed
Tenure
Strong
Freehold ownership

Top Highlights

Premium nightly rate of $259 — positioned in the top tier
Freehold ownership — maximum long-term security

Watch Out

Secondary location — rental demand may be lower than premium areas
Occupancy at 45% — factor in seasonal gaps

Consider carefully. Returns are below market average for this price point.

Risks & What-If

What if occupancy changes?

Owner Managed scenario

30% occ.
4.8%
$1,735/mo
40% occ.
6.5%
$2,334/mo
45% occ.
7.3%
$2,612/mo
current
55% occ.
9.0%
$3,211/mo

Data Sources & Methodology

ROI calculations use verified Brixfox Intelligence rental data from a 12-month trailing window. Opex: 20% owner-managed, 45% fully-managed. Includes 10% Indonesian rental tax (PPh) and annual property tax (PBB). Market factors in Portugal may impact actual yields.