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NordIndsigt BoligCheck · Property analysis

73 m² in a historic factory building: what the listing doesn't tell you

Kanalgade 9, 3rd floor right, Møllerup · owner-occupied flat · built 1916
"See what others miss"
Asking price
2,295,000 kr.
Price per m²
~31,400 kr.
Home
73 m² · 3rd floor
Energy label
C · for the whole building
Owner's fee/mo.
2,742 kr. *
Condition report
Will never exist
Electrical report
Will never exist
Owners' association accounts
Not received

This is an informative pre-purchase analysis, built on your documents, for a buyer who may not read Danish property documents fluently. It is not a public valuation, not legal or financial advice, and not a structural building survey; it does not replace your lawyer, your bank, or the owners' association's own documents. Every piece of information carries a source; uncertain points are flagged. * The owner's fee does not cover advance heating/water payments (see "The real monthly cost").

Our verdict

A beautifully renovated flat at market price, but two documents are missing, not just late

Purchase possible: pending the owners' association Price confidence: medium (3 comparable sales, 1 of them in the same building)

The flat is genuinely beautifully and thoroughly renovated, in a striking 1916 factory building centrally located in the city, and the price sits within normal range of what comparable flats in the neighbourhood are selling for. But a condition report and an electrical installation report will never be prepared for this flat, and the owners' association's accounts, budget and minutes have not yet been received. For an owner-occupied flat, that last point is actually the most important thing to sort out, because it's the owners' association, not you, that decides on the roof, façade and drainpipes.

Fair price range
2.20-2.35 million kr.
Asking price
2.295 million kr.
Real running cost/mo.
~3,700 kr.
Next step: ask the agent for the owners' association's latest accounts, budget and minutes from the last 2-3 general meetings, before you spend time on a bid. It costs nothing to ask, and it's the one thing in this case that could flip the picture from "good buy" to "wait".
Listing vs. reality

"The agent says" versus what we found

The sales listing (salgsopstilling) is the seller's story. Here's the same flat checked against public registers and photos. Green = how it's sold. Red = how it is.

The agent says
We found
"Fully move-in ready flat"
The interior is genuinely beautifully renovated photo, but a condition report and an electrical installation report will never be prepared. "Move-in ready" is the seller's wording, not the conclusion of an independent report listing
"The owners' association has sound finances"
A claim with no documentation in the material received: accounts, budget and minutes have not been received. Cannot be verified until these are available missing
"Quiet, uniform streets" in the neighbourhood
See the locked key finding below on neighbourhood statistics: more nuanced than the listing text implies see "Neighbourhood & safety"
Owner's fee "2,742 kr./mo."
The owner's fee already excludes advance heating and water payments. Real monthly cost of living here ~3,700 kr., 1.35x the advertised figure calculation
Energy label "C" shown on the front page
The label is issued for the entire mixed-use commercial/residential building (over 1,300 m² of heated floor area with shops on the ground floor), not for this specific 3rd-floor flat energy label
Nothing about pets in the description
The association's bylaws do not allow pets, worth knowing before viewing, if relevant to you listing
Hidden signals

Three things that decide the deal

What isn't in the listing, but should be in your bid.

Comp There is a direct comparable sale, in the same building
🔒 Key finding: full report only

Address, date and price of a sale in your own stairwell, locked in this sample.

▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓ ▓▓ ▓▓▓▓▓ ▓▓▓▓▓▓▓▓▓ ▓▓▓▓ ▓ ▓▓▓▓, ▓▓ ▓▓▓▓▓▓▓▓ ▓▓▓▓▓▓ ▓▓▓ ▓▓▓ ▓▓▓▓▓▓ ▓▓ ▓▓ ▓▓▓▓▓▓▓▓ ▓▓▓▓ ▓▓▓▓▓▓▓▓▓▓ ▓▓▓▓ ▓▓▓▓▓▓▓▓▓▓. ▓▓▓▓▓▓▓▓▓ ▓▓▓ ▓▓▓▓▓▓▓▓▓▓ ▓▓ ▓▓▓▓▓▓▓▓ ▓▓▓▓▓▓▓ ▓▓▓ ▓▓▓▓▓▓▓▓▓▓▓ ▓▓▓▓▓▓▓▓▓.

History The flat disappeared from the market for over two years, then came back more expensive

The property's full price history shows: taken off the market more than two years ago at a markedly lower price than today, relisted recently at a significantly higher price, and since then one price cut down to the current asking price market history. That's not necessarily a bad sign, since a thorough renovation might explain the jump, but it's exactly the kind of question you should ask directly rather than guess at.

Owners' association The owners' association's finances are the most important unanswered GATE in this case

For an owner-occupied flat, missing accounts/budget/minutes is a bigger risk point than a missing condition report: it's the association, not the individual owner, that decides and pays for the roof, façade, drainpipes and stairwell. An unexpected special assessment in the six-figure range is the classic surprise in exactly this situation standard risk principle for owner-occupied flats.

Status by category

What can be scored now, and what can't

For an owner-occupied flat with no condition report, electrical report or owners' association accounts, it's more honest to show a status picture than to guess a single overall number.

Price
62/100
Condition
N/A
Electrical
N/A
Association finances
GATE
Neighbourhood
58/100
Liquidity
48/100
Refurbishment (unit)
65/100
Documents
35/100

The categories marked N/A or GATE are structurally impossible to score for this home. That's not because we're short on time, but because the documents will never be prepared (condition/electrical) or have not yet been received (owners' association finances).

The short version

Pros and cons, honestly

Pros

  • Thorough, tasteful renovation: kitchen, bathroom and surfaces look brand new
  • Striking, light-filled industrial windows and high ceilings in a characterful 1916 building
  • One direct comparable sale in the same building gives a solid price anchor
  • Central location with short distance to the pedestrian street, station and city amenities
  • No private roof expenses: maintenance of the building envelope is the owners' association's responsibility

Cons / risks

  • A condition report and electrical installation report will never exist for this flat
  • The owners' association's accounts/budget/minutes have not been received, the biggest single risk in this case
  • The energy label covers the entire mixed-use building, not this specific flat
  • The flat was off the market for over two years and came back at a higher price; reason not confirmed
  • No lift to the 3rd floor; no balcony/terrace; pets not allowed
Owners' association finances · GATE

The most important GATE in this whole case

Unlike a detached house, where a missing condition report is the main concern, for an owner-occupied flat it is the owners' association's financial health that determines whether an unpleasant bill is waiting. The owners' association, not the individual owner, decides and pays for the roof, façade, drainpipes, staircases and courtyard.

ItemStatusSource
Allocation ratioThe flat's share of common expenses and votes is stated in the listing.listing
Security registered to the associationThere is a registered charge (security) in favour of the association, which reduces the available change-of-ownership loan. Ask your bank specifically about the effect on your financing.listing
Accounts & budgetNot received. Cannot be assessed until these are available.missing
General meeting minutesNot received. Would show whether major works (roof/façade/drainpipes) have been announced.missing
Joint mortgage/loanNot disclosed whether the association has joint debt and on what terms.missing
BylawsRegistered relatively recently. Pets not allowed; subletting permitted under the terms of the bylaws.listing
Recommendation: make delivery of the accounts, budget and the last 2-3 minutes an explicit condition before you spend more time on this case. If there are planned major works on the building (roof, façade, windows, drainpipes), a six-figure special assessment could turn up, invisible in the listing itself.
Visual inspection · photos

What the photos actually show

10 pages of the listing were reviewed as images, not just as text, including the floor plan and every interior photo.

What the photos showAssessmentSource
Open kitchen with dark, quality-looking cabinets, a dark stone-look countertop and an island, in a consistently modern styleNew, well keptphoto
Bathroom: compact, white, modern fittings and an illuminated mirror cabinetNew, well keptphoto
Room with a sloped ceiling under the roof, confirming location on the top residential levelNormal for the floorphoto
Shared courtyard: parts of the surrounding buildings look more worn than the street façadeTypical for older block housingphoto
The building's ground floor has visible commercial signage (café/bar), confirming mixed useSee the energy label sectionphoto
Sun & orientation

Which way do the kitchen windows actually face?

The floor plan's north arrow was read directly and cross-checked against the building's actual orientation on the plot. The compass rose shows north rotated roughly 20-30° clockwise relative to the drawing's vertical "up" direction.

With that offset, the flat's large window sections in the open kitchen face predominantly north to north-west, which fits well with the listing text: plenty of even daylight without harsh afternoon sun, and an open view over neighbouring rooftops rather than direct sightlines into the flat. That also explains why the photos show a bright but not strongly sunlit room.

Practical implication: expect cool, even light year-round rather than warm, sun-filled afternoons: pleasant in summer, but worth knowing if you want direct afternoon sun in the living room. Confirm for yourself at viewings at different times of day, and consider using Boligsiden's "Sun path" tool for a visual check of this specific address.
Price & market

What comparable flats are actually selling for

Asking price 2,295,000 kr. (~31,400 kr./m²) listing. That is ●●.●% above the preliminary public valuation listing, a normal level for a fully renovated flat in a central, historic neighbourhood, not a warning sign in itself.

Three comparable sales were found, one of them in the same building (see the locked key finding above). The median of the three is ●●,●●● kr./m². The asking price is ~7-8% above this median, which is explainable by a newer and more thorough renovation than the comparable sales.

2.20 million
fair: 2.20-2.35
asking 2.295
Financing: worth noting. Standard financing is not obtained in full, since the change-of-ownership loan must be reduced by the registered security in favour of the owners' association (●●,●●● kr.) listing. Ask your bank specifically how this affects the down payment you'll need.
The real monthly cost

"2,742 kr./mo." isn't the whole story

Here the owner's fee is actually already stated excluding advance heating and water payments, but those two items are effectively part of your fixed monthly payment to the association.

ItemAmountSource
Owner's fee (tax, insurance, share of common expenses)2,742 kr./mo.listing
Advance heating payment687.50 kr./mo.listing
Advance water payment270.83 kr./mo.listing
Real total running cost~3,700 kr./mo.calculation
The honest arithmetic. Advertised: 2,742 kr./mo. The real cost of living here (before loan repayments): ~3,700 kr./mo., 1.35x the advertised figure. Lower multiplier than for a detached house, because there are no separate roof/façade expenses. They're already hidden inside the common expenses, whose size depends entirely on the owners' association's finances (see the GATE above).
Negotiation

Where the leverage is on the table

With a beautifully renovated interior, there isn't a strong technical negotiating card in the flat itself. The real negotiating card is in the process:

Your strongest card: make the bid conditional on the owners' association's accounts, budget and minutes, phrased as a written reservation in the offer, not just a verbal question. If unexpected findings turn up (planned major works, low reserve funds, high debt), you have a documented basis to either negotiate the price or withdraw without losing your deposit.

Secondarily: ask directly why the flat disappeared from the market for over two years and came back at a higher price: the answer determines whether it's a neutral or a positive signal.

Geo & climate

Radon, pollution and cloudbursts

FactorWhat we foundSource
RadonVery low risk, as expected for a flat on the 3rd floor, where the distance from the ground itself markedly reduces the risk.public sources
Groundwater / sea level riseNo expected impact.public sources
Cloudburst (heavy rain)Possible impact from a "2-year event", a comparatively frequent recurrence interval. Relevant to the building's basement/ground floor, less relevant to a 3rd-floor flat, but worth asking the owners' association about past history.public sources
Combined sewer systemThe area is on a combined (not separate) sewer system. The municipality may in future require separation, a potential future cost for the property as a whole.listing
Neighbourhood & safety

What "central and charming" actually means here

The listing text highlights colourful façades, flea markets, short distance to the pedestrian street and station, all confirmed by the location. Nearby schools exist, but well-being scores and grade averages are not publicly reported for the nearest state schools at the time of this analysis.

🔒 Key finding: full report only

A statistic on the neighbourhood's safety level, not mentioned in the listing text, with source and caveats.

What the agent's text doesn't say. ▓▓▓▓▓▓▓▓▓ ▓▓▓▓▓▓▓ ▓▓▓▓▓▓ ▓▓▓ ▓▓▓▓ ▓▓ ▓▓▓▓▓▓▓ ▓▓▓▓▓▓▓▓▓ ▓▓▓▓▓ ▓▓ ▓▓▓▓▓▓ ▓▓▓ ▓▓▓▓▓▓▓ ▓▓▓▓ ▓▓▓▓▓▓▓▓▓, ▓▓▓ ▓▓▓▓▓▓ ▓▓▓▓ ▓▓▓ ▓▓▓▓▓▓▓▓ ▓▓ ▓▓▓▓▓▓▓▓▓. ▓▓▓▓▓ ▓▓ ▓▓▓▓▓▓ ▓▓▓▓ ▓▓ ▓▓▓▓▓▓▓▓▓ ▓▓▓▓▓ ▓▓▓▓▓▓▓▓▓. ▓▓▓▓▓▓▓▓▓ ▓▓▓▓▓▓▓▓▓, ▓▓ ▓▓▓ ▓▓▓▓▓▓▓▓ ▓▓▓ ▓▓ ▓▓▓▓▓▓▓▓, ▓▓▓ ▓▓▓▓ ▓▓▓▓▓▓▓ ▓▓ ▓▓ ▓▓▓▓▓▓▓▓▓ ▓▓▓▓▓▓▓▓▓.

The building's own ground floor houses licensed venues serving alcohol, a combination that generally (not specific to this address) is statistically associated with more nightlife-related disturbance in Danish cities. That doesn't mean daily unease, but it's a point worth assessing for yourself at an evening viewing.

Energy

The energy label applies to the building, not just the flat

Energy label C is issued for the entire mixed-use building: over 1,300 m² of heated floor area spread across homes and ground-floor commercial units energy label. For your specific flat, two things pull in opposite directions: a location on the 3rd floor (less heat loss through the ceiling/floor slab than a ground-floor or top-floor flat) points to consumption below the building average, while the north-to-north-west-facing façade (see "Sun & orientation") means less free heating from afternoon sun than a south- or west-facing flat would get. These two effects partly offset each other, so the building average is a reasonable starting point, neither pessimistic nor optimistic.

Building's top recommendationAnnual savingInvestment
Internal insulation of walls facing unheated space1,000 kr.23,800 kr.
Insulation of floor facing basement900 kr.12,500 kr.
Insulation of floor slab facing roof terrace/shed900 kr.17,300 kr.
Important: these measures apply to the whole building and are decided by the owners' association, not by you individually. Ask the seller for the flat's actual most recent annual consumption (not the advance-payment figure) for a more accurate picture of your own future heating costs.
Before you bid

Questions for the agent & your checklist

Ask the agent/seller about

  • The owners' association's latest accounts, budget and 2-3 minutes, before proceeding further
  • Why the flat disappeared from the market for over two years, and why the price rose on relisting
  • Are there planned major works on the building (roof, façade, drainpipes)?
  • The flat's actual (not advance-payment) heating and water consumption over the past year

Consider yourself

  • Your own independent technical survey: the seller provides none
  • The bank's concrete answer on the loan reduction due to the security registered to the association
  • An evening viewing to judge the neighbourhood's atmosphere yourself
  • The rules for category-4 heritage protection, if you want to change windows/façade elements
Caveats & sources

How this analysis was made

The analysis is built on the sales listing and energy label documents, a full visual review of the listing's photos and floor plan photo, and public sources for market and geo-risk data open transactions, registers. A condition report and an electrical installation report will not be prepared for this home; the owners' association's accounts, budget and minutes have not yet been received. Costs and estimates are indicative, not quotes. The neighbourhood safety signal is based on secondary sources and should be independently verified. Every claim is source-tagged; unknown fields are marked "not enough data". This does not replace your lawyer, your bank, or the owners' association's own documents.

Want to see the full figures for your own home?

This is a blurred sample of a real BoligCheck for an owner-occupied flat. In your own report, every key finding and every blurred figure is sharp and address-specific, built on your own documents.

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