A 242m² Patio Bonito three-bedroom with three parking spaces at 4.55M COP per m² — Milla de Oro scale without the Milla de Oro ask.
PRICE GAP / M² VS PATIO BONITO TYPICAL RANGE
▾31-39%
BELOW THE MARKET RANGE
4.55M vs 6.58M–7.42M COP/m²
IMG 01 / 23TOTAL AREA
242 m²
BEDROOMS
3
BATHROOMS
3
// KEY FACTS
- ASKING PRICE (COP)
- COP 1.100.000.000
- ASKING PRICE (USD)
- USD 351,606Est. at today’s rate
- PRICE PER M²
- 4.55M COP/m²
- VS PATIO BONITO TYPICAL RANGE
- 31-39% below the market range
- BED / BATH
- 3 / 3
- ESTRATO
- —
- HOA MONTHLY
- —
- PROPERTY TYPE
- Apartamento
- YEAR BUILT
- Unknown
- CURATED
- July 8, 2026
- SOURCE
- Finca Raíz
Indexed·n=105·Jun 2026
// How we got this number
- Source
- Our own indexed asking prices · Finca Raíz, Metrocuadrado, Ciencuadras
- Sample
- 105 active listings in this zone
- Adjustment
- Asking-to-close assumption: −8% · See methodology
- Updated
- June 2026
Adjusted asking-comp estimate. Not an appraisal.
◆ PRIMARY STRATEGY · FLIP
Editorial scores
Editorial judgments, 1 to 10, set by the curator. Not algorithmic. See methodology →
The raw spread works: 4.55M/m² entry against same-size Patio Bonito asks at 5.86M and 8.72M per m², with three parking spaces — a genuine rarity that renovated buyers pay for. It holds at a 7 because the ticket is the risk: a 1.1B entry plus up to 170M of renovation needs a 1.5B-plus exit, and buyers at that level in Patio Bonito compare against Milla de Oro towers with amenities this stock cannot add. First-floor position costs some exit premium unless a private patio compensates.
242m² is the wrong tool for furnished MTR twice over: the tenant pool concentrates in 1BR/2BR, and the m² you pay to furnish and cool never earns back proportionally. Measured Patio Bonito 3BR rents of 6.6M to 9.7M monthly put post-tax yield at 3.2% to 5.5% on the ask — the weakest income case of this batch. The three parking spaces and executive scale suit a corporate family lease, which is steadier but prices below the furnished model. Income is a footnote here.
For sheer living space per peso this is the batch leader: 242m², three parking spaces, walking distance to the Milla de Oro corridor's offices, clinics and the Tesoro-bound uphill amenities. First floor means no elevator dependency and easy grocery runs. It loses points because Patio Bonito's immediate blocks are more corridor than neighborhood — you walk to the amenity, you do not live inside it — and because the interior almost certainly needs the renovation the price implies.
◆ TWO WAYS TO READ THIS
AS AN INVESTMENT
A scale arbitrage: 242m² and three parking spaces at a price per m² that renovated 128m² Laureles stock exceeds. The exit thesis is the executive family or downsizing-from-a-house buyer who needs exactly this much apartment near the Milla de Oro corridor and finds almost nothing built for them. The risks are concentration risks — one big ticket, one narrow buyer profile, one renovation that scales with the area. Underwrite the conservative 5.86M/m² comp as the exit and treat the 8.72M comp as upside, not base case.
AS A HOME
The most apartment per peso in this batch by a wide margin. Three parking spaces solves the two-car-family problem that kills most Poblado options. First floor: verify whether a private patio comes with it, and check street noise at rush hour on the corridor side. Admin at 850K on 242m² is proportionate. Budget the interior work; the bones and the parking are what you are buying.
◆ THE FULL MATH
The math behind the strategy.
Every number is a range. Inputs documented in methodology.
- TOTAL CASH IN
- $400,511
- MONTHLY RENT
- $2,110 – $3,101
- OCCUPANCY
- 75% – 88%
- ANNUAL GROSS
- $18,987 – $32,731
- NET PRE-TAX
- $8,630 – $18,220
- NET POST-TAX
- $6,904 – $14,576
- YIELD (CAP RATE)
- 1.7% – 3.6%
- 3-YEAR RETURN (IRR)
- −21% to −2%
◆ RED FLAGS
What could go wrong.
Curator-flagged failure modes for this specific listing.
Big ticket, narrow exit.
1.1B entry plus renovation needs the executive-family buyer, a thin pool that shops slowly and compares against Milla de Oro towers.
Income does not carry it.
3.2% to 5.5% post-tax at honest occupancy is the weakest income case of this batch. Do not underwrite on rent.
First floor cuts both ways.
No elevator dependency, but exit buyers pay for height and light unless a private patio compensates. Verify the patio.
Renovation scales with 242m².
The same per-m² refresh that costs 100M at 130m² costs 170M+ here. Quote before offering.
What La Lonja recorded for your zone. Not a forecast for this listing.
La Lonja’s 265 Edition reported Zona 5 (Poblado, Envigado, Sabaneta) apartment valorization at 7.82% in 2024. The 2025 land study (published April 2026) recorded 7.5% real for Envigado municipality, consistent with a sustained mid-single-digit-to-high pace.
Lonja groups Poblado, Envigado, and Sabaneta as Zona 5 (sub-market variance is real). Figures are nominal COP; real appreciation in high-inflation years (~13% in 2022, ~5% in 2024) is lower.
Appreciation figures: La Lonja de Propiedad Raíz de Medellín y Antioquia (2024 zone-level apartment index, 2025 land study). Context from Camacol Antioquia (trade group) and DANE / Banco de la República. We show the range. We do not predict which one happens.
90M – 170MCOP
Roughly $29K – $54K USD at today’s rate.
3.2% – 5.5%
Range assumes professional management at 22% plus sales tax (IVA), 20% withholding tax, 7.5% exit yield, and renovated condition.
Lower bound reflects conservative occupancy (75%) and lower-tier finish. Upper bound assumes strong occupancy (88%+) and premium finish targeting professional medium-term rental tenants. Estimates, not guarantees.
◆ COMPARABLES
2 references · COP/m² indexed to listing’s 4.55M
Patio Bonito asks (partially renovated and premium tiers)
Near-size (239m²) Patio Bonito 4BR at 5.86M/m² — the conservative exit tier.
VIEW ORIGINAL ↗
Same-size (250m²) upper-tier 3BR at 8.72M/m² — the ceiling case, Los Parra side of the zone.
VIEW ORIGINAL ↗◆ CONDITION NOTES
First floor, 242m², three parking spaces, admin of 850K monthly, asking 35% below the Patio Bonito band. The listing text is boilerplate and says nothing about finishes; at this size and discount the working assumption is dated interiors across a lot of square meters — which cuts both ways, because renovation cost scales with area but so does the exit. First-floor units in this stock sometimes come with private patios that listings forget to mention; verify, because it changes the family-buyer math.
◆ STAY CURRENT
Get notified when new analyses publish.
No deals, no hype. Just the next listing worth reading.
We scan the portals daily and re-verify each listing on a rolling basis. Between scans, prices move, listings sell, and the market shifts. The calibrated market range per m² is a snapshot from our last data refresh, not a live quote. Treat these numbers as a starting point and verify the current price with the source before you act.