Jesús María: prices, rental yield & Airbnb income
Jesús María is a central, unpretentious residential district built around the green Campo de Marte park and a cluster of major hospitals. It draws steady mid-market and professional tenants and rarely makes headlines — which is exactly its appeal. Who buys here: investors who want a reliable, no-surprises long-term hold at a sensible price.
Net of predial · arbitrios · 3% vacancy · 5% income tax, with 5% purchase costs on the price base and no management fee — self-managed. No mantenimiento: in a Lima long-term let the tenant pays it, and it was never inside the advertised rent either. Vacancy is the one figure here we chose rather than measured. What comes out, line by line →
Long-term, the net yield comes in at about 5.0%, and that figure already carries property tax, arbitrios, rental income tax and a vacancy allowance. Rent runs near $11 per m2, and the tenant pays mantenimiento in a Lima long-term let, so the landlord's costs stay thin. It is not spectacular, but it is the number that survives contact with a real year.
Net of 3% platform fee · utilities & internet (a real bill, not a % of revenue) · mantenimiento, plus predial, arbitrios and 5% income tax, on the same price base, and no management fee — self-managed. Mantenimiento sits here and not on the long-term side: the host pays it every month and no guest reimburses them. Furnishing is left out as one-time capital, which flatters this figure slightly. The gross yield above is before all of it. Empty nights need no allowance here: they sit inside the measured occupancy. What comes out, line by line →
Long-term returns cluster tightly across Lima; Airbnb returns do not. The middle listing earns 4.5%; the top quarter earns 6.3% — measured on both axes at once, each listing’s own nightly rate times its own occupancy. How the top quarter is built, and its two limits →
Airbnb looks better on the surface: a gross yield of roughly 6.8% on an average daily rate near $50 and occupancy around 56%, which works out to about $10,100 a year in revenue. The gross figure subtracts the platform fee, host-paid utilities and internet, income tax, mantenimiento, property tax and arbitrios, and once those are off, the net lands near 4.4%. The top quartile reaches about 6.2% net on an ADR near $63, so the upside exists, but it belongs to owners who run the flat well.
Occupancy counts near-term nights only: a calendar read months ahead shows nights nobody has booked yet. Neither yield carries repairs, insurance or a refurbishment reserve — no yield on this site does, on either side. Why, and what it means for the figure →
Returns differ a lot by unit size. Net yields per bedroom count — after each strategy's own costs, the same model as the figures above, so the table agrees with the headline:
Net on both sides, decided the same way as the verdict above. Every cell carries its sample: n = sale/rent comps for long-term, n = priced/with a calendar week for Airbnb. Read a thin cell as a direction, not a rate. Why the samples are small, and the floor we publish above → Compare districts
More on Jesús María: Airbnb income · is long-term worth it?
In Jesús María, Airbnb nets 4.5% after costs. A long-term tenant nets 5.0%.
Not a hunch — we price every listed apartment in eight districts both ways, self-managed, after tax, HOA and real occupancy. One email a week: what moved, which listings the numbers actually favour, and where the consensus looks wrong.