---
title: Buy, renovate and resell calculator | Cavalcanti
description: Estimate renovate-and-resell profit in Portugal — or rental yield. Uses 2026 investment IMT. Illustrative — not financial advice.
---
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- [Cascais vs Lisbon](https://marketing.cavalcanti.team/en/cascais-vs-lisbon-investment)
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Practical guide · updated 2026
# Buy, renovate and resell — or let: how to estimate return in Portugal?
Two different numbers. For a renovation-to-sell, what matters is **project profit**: sale price minus what you put in (purchase, IMT, works, holding and selling fees). For rentals, **gross yield** is annual rent over price; **net yield** subtracts condo, IMI and all-in cost. The calculator does both, with the flip as the main path; works, resale and rent are your inputs, not a CRT forecast. At the end you can save the PDF on screen or receive it by email.
## The two paths
Renovate-and-resell measures euros of profit (or loss) over a holding period. Renting measures an annual percentage. Do not treat a 15% project margin and a 4% yield as the same metric.
## All-in cost — investment IMT
The secondary-home / rental IMT table is higher than primary residence. This calculator uses the 2026 investment table, 0.8% stamp duty and an editable 0.8% notary estimate. If the purchase is a primary residence, use the [IMT calculator](https://marketing.cavalcanti.team/en/imt-stamp-duty?hsLang=en).
## Works: an editable figure
The packages only fill the works field if you enter the gross private area. In Lisbon or Cascais a real contractor quote can come in higher. Choosing the municipality as an asset: [Cascais vs Lisbon](https://marketing.cavalcanti.team/en/cascais-vs-lisbon-investment?hsLang=en). This is not a contractor quote.
- Light — about €300/m²: paint and small fixes.
- Mid — about €750/m²: kitchens, bathrooms and floors.
- Deep — about €1,250/m²: full rehab, water and electrical.
## What this number leaves out
Income tax on rents or capital gains, mortgages, licences and actual works cost. For financing, see the [Portuguese mortgage guide](https://marketing.cavalcanti.team/en/mortgage-buying-home-portugal?hsLang=en). A tailored scenario is a conversation with the team — AMI 18470.
## Frequently asked questions
Flip profit vs yield?
Flip profit is what remains after purchase, works, taxes, holding costs and selling fees. Yield is annual rent versus price (gross) or all-in cost (net).
Why is investment IMT higher?
Primary-residence brackets are more favourable. Resale or buy-to-let uses the secondary / investment table. The young-buyer regime is not used here.
Do you guarantee resale price or works cost?
We do not promise a resale price or a works cost — each project has its own market and its own contractor quote. What we do is stay with the asset: analysis to a high professional standard, to find the most balanced, advantageous solution on purchase price and on sale price; and a network of market partners — professionals and firms we work with — so clients have the strongest possible backing on the project.
Is capital-gains tax deducted?
No. Personal income tax on the sale gain is not in the profit shown. Confirm with your accountant.
Can I run a property that is not yours?
Yes. Any purchase price and any resale or rent — our listing or another.
Does Cavalcanti carry out the works?
We do not carry out the works — we are not contractors. Cavalcanti RealEstate Team (AMI 18470), an independent team powered by eXp Portugal, runs the transaction and the project. We have a network of market partners; if you need it, we can introduce contractor options.
[Talk to the team](https://marketing.cavalcanti.team/en/contact?hsLang=en)
Illustrative estimate · 2026
## Model a renovate-and-resell — or a rental yield
The main path is **buy, renovate and resell**: start from the indicative resale (INE municipality figure, with a Lisbon-metro market correction) and edit — not a CRT forecast. You can also model a rental. IMT uses the 2026 investment table.
Renovate and resell
Buy to let
Reference (optional)
Address
No.
Floor (optional)
Postal code
The postcode fills district, municipality and parish. You can always edit by hand.
District
18 mainland districts, plus the Azores and Madeira. The municipality list then filters.
Municipality
Type to filter all 308 municipalities. INE bank appraisal is for the municipality, not the street. Lisbon metro gets a market factor.
Type to filter all 308 municipalities. The INE rent is the median of new leases in the municipality (€/m²/month), not the sale price and not a listing rent.
Parish
After the municipality, search the parish. INE €/m² stays at municipality level.
IMT region
?
IMT here uses the 2026 secondary-home / investment table, not primary residence. Stamp duty 0.8%.
Mainland Portugal Azores / Madeira
Map
Open in Google Maps
Typology Choose an option T0 T1 T2 T3 T4 T5+ House
Choose an option
Gross private area (m²)
The area on the property tax record (CPU). Used for the INE €/m² and for works cost.
Plot area (m²)
Built area (m², optional)
INE uses built area; if empty, the gross private area. Plot excess is 10% of the INE €/m².
Asking price (€)
IMT uses this figure. Below: negotiation range.
Minimum purchase (€)
Maximum purchase (€)
Condition at resale Choose an option New / renovated Good condition Used Needs renovation
Not the current condition. Choose how the property will be when you put it up for resale, after works.
Market band
?
Low −15%, mid 0%, high +12%, luxury +28% on the municipality midpoint. Not the MicroSIR band.
Choose an option Low Mid High Luxury
Choose an option
Works type
?
Light ~€300/m², mid ~€750, deep ~€1,250. Only fills if you enter gross private area. In Lisbon or Cascais it can come in higher. Not a contractor quote.
Choose an option Light · €300/m² Mid · €750/m² Deep · €1,250/m² I set the €/m² I set the total works cost
Choose an option
Works rate (€/m²)
Works (€)
Total contractor cost. For packages and €/m² this figure is calculated; you can still edit it.
Notary + registry (€)
Monthly condo fee (€)
Annual IMI (€)
INE bank appraisal
Indicative resale
The INE bank appraisal is the municipality figure (same as the valuation tool). In Lisbon metro we add a market factor; on houses the plot is 10% of the INE €/m². The button uses the indicative resale midpoint. You can edit the price.
Use this midpoint
Resale price (€)
?
An automatic figure may appear (indicative municipality midpoint). Not a CRT forecast — you can edit it.
An automatic figure may appear. Edit it if you have another price.
Months until sale
Commission + selling costs (€)
Agency commission on the sale plus associated costs (energy certificate, etc.). Default 5% of resale — you can edit.
Target margin (%)
?
Project profit as a percentage of money in (purchase + IMT + stamp + notary + works + holding), before income tax. If the result is below this, the calculator proposes a maximum purchase price. Starts at 20% — you can change it.
Starts at 20% — you can edit.
Estimated monthly rent (€)
?
Indicative: INE median of new leases in the municipality (€/m²/month) × area. Large municipalities use the 2026 series when it exists; others use the latest published 12-month figure. Not a listing rent — you can edit it.
With municipality and area, we fill the rent from the INE median of new leases. You can always edit it.
Use this indicative rent
Vacancy (%)
?
Time without a tenant on a traditional long-term lease (~1 month per year). This is not short-stay / AL. You can edit it.
Starts at 8% (~1 empty month per year).
Management (%)
?
CRT does not manage the property. If an agency charges, use 6–10%. Starts at 0.
0% if you self-manage.
Annual insurance (€)
Calculate
### To see the result
Name, email and phone. On the result you can send the summary to the team on WhatsApp.
Name
Email
Phone
Back to the form
Send and see the result
Illustrative estimate using 2026 IMT tables and the figures you enter. The INE base is the municipality bank appraisal (indicator 0012248), not the street. In Lisbon metro we apply a market correction (+10% in Lisbon, Cascais, Oeiras and Sintra; +6% in the other metro municipalities) and a low / mid / high / luxury band. This is not MicroSIR and not a street price. This is not financial or tax advice, and not a guarantee of rent, works cost, time to sell or resale price. Final IMT depends on VPT and the purpose recorded at the deed. On a long-term let the indicative rent is the INE median of new contracts (€/m²/month × area): 2026 series in large municipalities and the latest published 12-month figure elsewhere — not the bank-appraisal sale €/m². Vacancy starts at 8% (~1 empty month per year) and management at 0% — you can edit both. Income tax (rents or capital gains), mortgages, short-stay / AL, licences and actual contractor pricing sit outside this calculator. Cavalcanti RealEstate Team, AMI 18470 — independent team powered by eXp Portugal. Confirm with your lawyer, accountant and contractor before you proceed.
Total invested
Project profit
Margin
Profit / month
All-in cost
Gross yield
Net yield
Capital recovery
Income tax on the sale gain is not in this number.
Condo and IMI at €0 — net yield and capital recovery look optimistic.
Recalculate at this price
IMT (investment)
Stamp duty
Notary + registry
Works
Contract rent / year
Vacancy
Rent collected
Condo + IMI
Management
Insurance
Annual costs
Holding (condo + IMI)
Selling costs
Resale
Asking price
Negotiation range
Print / save PDF
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