Deal No. 7 · Griesheim · Single, around €94k
Ten years on an 80 m² apartment near Darmstadt.
An 80 m² new build in Griesheim, near Darmstadt, financed in full by two loans: a bank loan at 4,5 % and a KfW 298 loan at 2,7 %. The buyer earns 94.000 € and puts in 33.520 €, which covers the purchase costs. Every year of the projection is below, from the part year in 2026 to the sale in 2036.
The deal
What was bought, and on what terms
Griesheim, 80 m², built 2026. Bought for 419.000 €, financed 100 % at 4,5 % and 2,7 %, against a 94.000 € income, with 33.520 € of the buyer’s own money.
Bank loan 319.000 € at 4,5 %, 1 % repayment·KfW 298 100.000 € at 2,7 %, 1,8 % repayment·Rent 20 € / m², +10 % every 3 years·AfA 5 % degressive·Appreciation 3 %·Income growth 0 %
Own capital covers the purchase costs only: 6 % transfer tax, 1,5 % notary and land registry, 0,5 % financing costs. The two loans together cover the purchase price. Hessen, single filing.
- Worst month before tax benefits
- −307 €
- In 2027, narrowing every year as rent rises
- After tax benefits, first full year
- +325 € / month
- The apartment carries itself from year one
- Total wealth if sold in 2036
- 234.419 €
- 6,99× own capital · 21,5 % annualized
Projection from the assumptions above. Rent steps up 10 % every three years, the salary stays flat, and the apartment is sold after the 10-year holding period, so the gain is tax-free. The KfW tranche is the cheapest money in this series, which is why this is the one deal that turns cash positive before tax benefits.
The ten years, year by year
Cashflow before tax benefits
per month · rent minus loan and costs
−10.559 €
Cashflow after tax benefits
per month · including the tax refund
+33.553 €
Tax impact
per year · income tax saved
+44.112 €
2026 is a part year. The purchase closed in Jul 2026, so those 6 months of ownership carry a full calendar year of tax effect, and the first bar sits far above the years that follow.
The same three charts every client sees for their own property in the Financemate scenario planner.
Your turn
Run the same projection on your income
The calculator below uses its own example apartments from our property partner, with their own rent and financing, so the figures are close to the deal above but not the same deal. Put in your salary and your holding period to see what changes.
Rent 1.218 € / month · 2026 new-build · 5 % degressive AfA
These are two examples.
A free account runs the same numbers on properties matched to your income and goals.
Find your own property- Rent in
- 1.218 €/ monthin 2026
- Tax back
- 3.844 €/ yearaverage over 10 years
- Wealth up
- 137.335 €/ 10 yrsif sold in 2036, after loan and costs
Monthly cashflow
Positive from the first year once the tax refund is counted.
| Over the hold | 10 years | 15 years | 20 years |
|---|---|---|---|
| Rent collected | 164.604 € | 267.696 € | 390.060 € |
| Cashflow before tax benefits | -20.776 € | -10.374 € | +19.300 € |
| Tax back | 38.439 € | 37.916 € | 24.234 € |
| Cashflow after tax benefits | +17.663 € | +27.542 € | +43.534 € |
| Wealth up | 137.335 € | 254.849 € | 398.261 € |
Wealth up is what you walk away with after paying off the loan, selling costs and any tax on the sale, minus your own capital. Tax-free after 10 years.