❓ Is buying a 3 bedroom luxury apartment in Sarbet (Adams Mall / AU) for 47.4M ETB worth it?
✔️ 267 sqm (185 sqm net) | 3 Bed | 3 Bath | Maid's Room | Laundry | 18th Floor | Private Elevator | Full Resort Amenities
📊 Investment Analysis
🏷️ Asking Price / sqm ፦ 177,528 ETB/sqm
📍 Market Benchmarking:
Market average ranges between 170,000 to 200,000 ETB/sqm for fully completed high-end luxury developments in the Sarbet/Adams Mall diplomatic corridor, placing this unit well within standard market rates.
💵 Gross Annual Income (GAI):
Estimated Monthly Income = 338,800 ETB ($2,200)
Monthly Income × 12 = 4,065,600 ETB/year
🧾 Net Annual Income:
በፌዴራል መንግሥት የገቢ ግብር አዋጅ ቁጥር 1395/2017 መሠረት & 5% Opex:
✔️ Taxable Rental Income (50% Deduction): GAI × 50% = 2,032,800 ETB
✔️ Schedule B Rental Income Tax: (Taxable Income × 35%) - 24,600 ETB = 686,880 ETB
✔️ Operating Expenses (5% Opex): GAI × 5% = 203,280 ETB
✔️ Net Operating Income (NOI): GAI - (Tax + Opex) = 3,175,440 ETB
📈 Gross Yield:
(GAI / Asking Price) × 100 = 8.58%
📊 Net Yield:
(NOI / Asking Price) × 100 = 6.70%
⏳ Payback Period:
Asking Price / NOI = 14.9 Years
🏛️ Capital Appreciation:
Asking Price × Annual Growth Rate (10%) = 4,740,000 ETB/year
🎯 Summary:
Located in the ultra-prime Sarbet Adams Mall precinct near the African Union, this 267 sqm 18th-floor luxury apartment is priced at 177,528 ETB/sqm, aligning with local benchmarks (170,000 - 200,000 ETB/sqm). Featuring low density (2 units/floor), private elevator access, and full luxury amenities, it commands an estimated monthly rent of 338,800 ETB ($2,200). It yields an impressive 8.58% Gross Yield and 6.70% Net Yield, offering strong diplomatic tenant appeal, excellent cash flow, and steady capital growth.
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