Detached House in Hamilton!
Fix & Flip or Rental Opportunity

$150K BELOW Market Value 

Weir Street North

By March 22nd, 2022
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $150K BELOW Market Value!
Closing Date: June 13th, 2022

**Due to COVID-19 restrictions sight unseen offers are preferred.**

Weir Street North, Hamilton, Ontario

About the Property

This two storey detached house consists of 3 bedrooms, 2 bathrooms and is approximately 1220 sqft. There have been no renovations done to the property so we would recommend budgeting for a full cosmetic update, including roof and eavestrough, to max out the ARV.  The property is being offered at a HUGE discount, ideal for someone looking to move in and put some sweat equity in or an investor with experience in removing an unauthorized occupant. All information provided in this email is information sent to us by the seller, we have not visited the property.

Please read carefully prior to submitting an offer:

The property is currently occupied by the sellers son who has not been authorized to live there. He is not aware of the property being sold so NO walkthrough will be available for this property. The seller has warranted that the son does not pay rent and has not signed any residential tenancy agreement. No photos of the interior will be provided and only sight unseen offers will be considered for this property. Since the son has not paid any rent we believe on closing he will be considered a trespasser and can be removed immediately by the police. The seller has advised that they will try to get the son out prior to closing, however, an investor should account for the worst case scenario and assume the house will not come vacant.

About the Neighbourhood 

The subject property is situated in a desirable neighbourhood of Hamilton and only a 10 minute drive to the Hamilton GO centre. The subject property is close to countless amenities such as restaurants, Tim Hortons, Shoppers Drug Mart, Food Basics, LCBO, Hamilton City Centre and schools. The property is located down the street from the Hamilton Hospital and only a 15 minute drive to downtown. Hamilton is located about an hour from the GTA and is a short drive to Highway 403 and 407.

Property Features

• 2 Storey Detached
• 3 bedrooms
• 2 bathrooms
• 1220 sqft above grade
• 483 sqft below grade
• Property taxes are about $2720
• Breaker panel
• Built in 1925
• Furnace and A/C are owned
• HWT rental
• Windows replaced in 2011
• Potential to add parking behind the house
• 25ft x 100ft
• C Zoning

Recommended Renovations

• Full cosmetic update
• Redo the roof
• Seller has the option to leave junk behind so we recommend budgeting for junk removal

We are selling our assignable purchase contract for this excellent Fix & Flip or Rental opportunity.

• Wholesale Price: $549,999 or Best Offer
• We believe that this property is worth $700,000  “as-is” on the MLS
• We believe that after a full renovation this property should be worth at least $800,000 on the MLS.
• Purchase today for $150K BELOW MARKET VALUE

Comparable Analysis

• 103 Tragina Avenue North sold for $758,888 in February 2022. This 2 storey detached property sits on a smaller lot but is similar in size. The comparable is outdated throughout but has a garage.  After adjustments, and taking into consideration the property details provided by the seller,  we believe the subject property would sell for at least $700,000 “as-is” on the MLS.
• 72 Garside Avenue North sold for $876,000 in March 2022. This 2 storey detached sits on a similar lot size and is similar in size. The comparable has an unfinished basement and an outdated kitchen. Other parts of the home were renovated but with modest finishes. The comparable is an all birck house and comes with parking in the back. Therefore, after adjustments and depending on finishes, we believe the subject property should sell for at least $800,000 on the MLS.