OPEN PATIO BONITO · 242m² · 3 BR · 3 BA
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 MARKET
4.55M vs 6.58M–7.42M COP/m²
◆ PRIMARY STRATEGY · FLIP
Editorial scores
Editorial judgments, 1 to 10, set by the curator. Not algorithmic. See methodology →
FLIP · RENOVATE + RESELL
7/ 10
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.
BNB · SHORT/MEDIUM RENTALSHORT-TERM RENTAL: UNCLEAR
4/ 10
◆ 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
- $386,758
- MONTHLY RENT
- $2,037 – $2,994
- OCCUPANCY
- 75% – 88%
- ANNUAL GROSS
- $18,335 – $31,607
- NET PRE-TAX
- $8,334 – $17,594
- NET POST-TAX
- $6,667 – $14,075
- 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.
Zone appreciation, historical rangeFREE
What La Lonja recorded for your zone. Not a forecast for this listing.
Lonja zoneZona 5 · Poblado / Envigado / Sabaneta
Historical
7.5%/yr
Projected valueAt year 5
1.58B COP
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 $28K – $52K USD at today’s rate.
most likely ▾
COSMETICFULL GUT
3.2% – 5.5%
Range assumes professional management at 22% plus sales tax (IVA), 20% withholding tax, 7.5% exit yield, and renovated condition.
most likely ▾
LOWHIGH
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)
239M² · 4BR · PATIO BONITOPARTIAL
5.86M/m²▴ +29%
Near-size (239m²) Patio Bonito 4BR at 5.86M/m² — the conservative exit tier.
VIEW ORIGINAL ↗
250M² · 3BR · PATIO BONITOPARTIAL
8.72M/m²▴ +92%
Same-size (250m²) upper-tier 3BR at 8.72M/m² — the ceiling case, Los Parra side of the zone.
◆ 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
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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.
View original on Finca Raíz ↗Curated July 8, 2026 · ID #755da0b4 · v0.42