Detached house in Ciutadella, Ciutadella de Menorca
Grade Dvillabudget

Detached house in Ciutadella, Ciutadella de Menorca

Ciutadella · Ciutadella · Illes Balears

€405,000

Asking Price (EUR)

Licence regime in this region

Balearics ETV moratorium: new short-term-rental licences are frozen. An existing, transferable ETV is required to operate legally — verify the licence and its transferability with the agency.

Indicative figures

The listing states full renovation (class D): as listed the home cannot be let, so it is not ranked on yield, and the rental projection is the finished house's (14 comps, 88% confidence).

48%

Occupancy

Projected Gross Revenue: €42,212/yr
Average Daily Rate: €259
5-yr Capital Value: €469,506
10-yr Capital Value: €544,286
Brixfox Score: 44.8 / 100
Comparable Properties: 14
Data Confidence: 88%
Search Radius: 2 km

True Investment Cost

Spanish transfer tax + notary + registry + legal + furnishing & STR launch setup.

€474,851

+17.2% over asking

Asking price€405,000
itp€32,450
legal€4,901
furnishing€30,000
notary registry€2,500
All-in investment€474,851

Estimates use Spain's resale transfer-tax (ITP) schedule by region plus notary, registry and legal fees; furnishing & STR launch covers furniture, appliances, the tourist-licence setup and launch photography. Actual notary & legal vary — budget extra for surveyor, due-diligence and bank-mortgage fees if financing. Working capital (2–3 months operating buffer) not included.

Bedrooms: 3
Building: 123 m²
Style: mediterranean-traditional
Condition: needs-renovation

No licence found

The listing states no licence, and its pin is not precise enough to check the register by location. Under the Balearic ETV regime (new licences frozen since 2022), a new licence is not obtainable, so ask the agency for the number before underwriting STR income.

A register hit means a licence exists at this location, not that it transfers with the sale: have a Spanish lawyer verify the transfer clause in the deed, the licence’s current status and the municipality’s renewal position before you commit.

Design Features

traditional terracotta floor tileswhitewashed wallsrustic wooden wall decor

AI Investment Summary

D investment in Ciutadella (Menorca). Score 44.8/100. Net yield 2.2% after works (as listed withheld: condition class D, works EUR 152,213 mid) | Occupancy 48% | ADR $259 | No STR licence on record

Score Breakdown

ROI
8.63
Visual Appeal
6
Ownership Security
13
Location
8.64
Land & Space
4.46
Rental Demand
4.83
Payback Speed
1
STR Suitability
1

Description

Three-story Menorcan house with a large patio in the old town to be renovated, the nerve center of Ciutadella with a large influx of commerce. Privileged area where you can get lost among the charm of its alleys and the most magical corners of the city. The property needs renovation, which is ideal to be able to make

Location

📍 40.0019°, 3.8417°

Approximate area

Ciutadella, Illes Balears, Spain

Listed via Idealista.com

Price
$460,856
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3-bedroom freehold villa in Ciutadella — photo 1 of 1
Idealista.com

Detached house in Ciutadella, Ciutadella de Menorca

Ciutadella · Balearic Islands · Ref BF-6536Source · Idealista.com · listed 17 Jun 2026
Asking price
$460,856
Want this analysis as an underwriting report (PDF)?

The page’s own figures, line by line · Every purchase cost and the all-in total · Occupancy and offer-price what-ifs · Spain ownership, tax and letting rules

Bedrooms
3
Built area
123 m²
Condition
Full renovation
(stated by the listing)
Brixfox Score 45 · DFinancial analysis ↓

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Licence regime in this region

Balearics ETV moratorium: new short-term-rental licences are frozen. An existing, transferable ETV is required to operate legally — verify the licence and its transferability with the agency.

No licence found

The listing states no licence, and its pin is not precise enough to check the register by location. Under the Balearic ETV regime (new licences frozen since 2022), a new licence is not obtainable, so ask the agency for the number before underwriting STR income.

A register hit means a licence exists at this location, not that it transfers with the sale: have a Spanish lawyer verify the transfer clause in the deed, the licence’s current status and the municipality’s renewal position before you commit.

Financials

What it earns, what it costs to own, and the net yield

Financial analysis
· After works · estimate
Fully managed is the Brixfox Standard shown on every card: a full-service manager's commission, charged on top of the Airbnb/Booking channel fees (not the cleaning cost — changeovers are funded by guest cleaning fees; you bear the residual). Self-managed drops the commission; the channel fees stay, because the platform is paid whoever manages, and you pay staff/local operations, a higher cleaning residual and your own time directly. Both scenarios divide the SAME gross revenue — the toggle changes the cost stack, not the revenue. That revenue is observed from actively-operated comps, so self-managed assumes you match their performance.Both scenarios share the same projected revenue — the toggle changes who runs the property and what that costs, not what it earns.
Net yieldCondition D, full renovation (stated by the listing: “with a large patio in the old town to be renovated, the nerve center of Ciutadella with a”). Works on rate card WRC-2026.10: full renovation €660–1,320/m² × 123 m², €152,213 at the midpoint with 10% fees and 15% contingency. All-in after works €627,064.
Gross yield · all-in after works
As listed, this home cannot be let: the figure is the yield after the works below.
Before tax in your home country and financing costs. Estimates, not financial advice.
Modelled from Airbnb listings we track across Ciutadella — live calendar data.

No Airbnb match on file

We have not confirmed this exact property on Airbnb, so it carries no operating history here. The figures above rest on the comparable set — a launch scenario, not a track record.

Revenue assumptions

Derived from the comparable Airbnb listings below. The headline ADR is the expected BOOKED rate — nearby asking prices corrected by our measured, market-calibrated asking-to-booked factor. Occupancy is calibrated against tracked reference homes nearby. Comp cards below show raw asking prices.
Expected ADR
$273
Expected booked rate (market-calibrated)
Expected occupancy
48%
Full-year estimate, market-calibrated
Projected annual revenue
$48,034
ADR × occupancy × 365
Comp data observed in USD · converted at €0.88/$
Seasonal occupancy pattern
Peak Aug +69% · Low Jan -55%
J
F
M
A
M
J
J
A
S
O
N
D
Modelled monthly index (relative to the annual average) — replaced by measured per-market indices as calendar history matures.

Investment basis

The true all-in acquisition cost — asking price plus purchase costs, renovation and furnishing. Every yield on this page is computed against this total, not the asking price.
Adjust the figures to your deal — yields recalculate live.
Purchase price· asking
€
Acquisition costs· 9.8% of price, auto-calculated
$45,347
ITP (impuesto de transmisiones patrimoniales)$36,925
Notary, Registro & gestoría$2,845
Legal & due diligence$5,577
Works· rate-card guide, in the all-in
$173,206
Renovation (guide, full renovation)· full renovation €660–1,320/m² × 123 m² · rate card WRC-2026.10$138,564
Professional fees 10%· Architect or engineer, on the renovation line$13,856
Contingency 15%· On the renovation line$20,785
Renovation budget· the guide works above are already in the all-in — enter only works beyond them
€
Furniture & STR launch
€
All-in after works
$713,546
+54.8% over asking
Fully managed scenarioSwitch the scenario with the toggle at the top of the financial analysis — it drives every figure in this section. Gross revenue is identical in both scenarios (the comps' observed performance); the Villa Scorecard and risk panels elsewhere on the page always quote the fully-managed Brixfox Standard.
Gross annual revenue
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Rental management
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Booking channel fees
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Cleaning & consumables
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Utilities (electricity, water, pool, garden)
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Property tax (IBI)
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Maintenance reserve
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Insurance
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Accounting & Modelo 210 filing
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IRNR (non-resident income tax)
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Net operating income
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Net yield on all-in investment
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IRNR is charged here at the non-EU/EEA non-resident rate on the net letting profit (Modelo 210). An EU or EEA resident owner pays 19% on the same base. Financing is not modelled.

Rental yield + value growth

Your net rental yield plus a yearly rise in the property's market value (land and building) that you choose. Value growth is an assumption, not data — which is why it starts at 0% and is kept out of the yield figures above.
Property value growth per year · your assumption0%
0%4% · Ciutadella 5-yr avg — historical, not a forecast8%
Yield + value growth
••/yr
••% net yield + 0% value growth
Value growth figures are illustrative only. Past regional price growth does not predict future performance; local supply, regulation and currency moves can materially change outcomes. Not financial advice.
Want this analysis as an underwriting report (PDF)?

The page’s own figures, line by line · Every purchase cost and the all-in total · Occupancy and offer-price what-ifs · Spain ownership, tax and letting rules

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Evidence

Where it sits, and who confirms it

Comp table: Market evidence ↑ in Financials

Location

Approximate area

Ciutadella · Balearic Islands

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Verdict

Score, and what could go wrong

Same net-yield basis as the financial analysis

Brixfox Score

45D
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Risk & what-if

TenureFreeholdno lease decay · no amortisation
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Property Underwriting Report

PDF report · one-time purchase · this property

  • The page’s own figures, line by line
  • Every purchase cost and the all-in total
  • Occupancy and offer-price what-ifs
  • Spain ownership, tax and letting rules

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Modelled from live Airbnb calendar data around this property · operating costs per line, editable in the P&L · estimates, not financial advice.Data sources & methodology ›

ROI calculations use Brixfox Intelligence rental data from tracked Airbnb calendars. Operating costs are modelled per line — Airbnb/Booking channel fees whoever manages, then either a full-service management commission or the staff/local operations a self-managing owner buys back, cleaning residual, utilities & insurance, local taxes — with every rate editable in the Financial analysis P&L above. Gross revenue is identical in both management scenarios. Market factors in Spain may impact actual yields.