| Concession Road 13, Brock, Ontario
Offer Date: FIRST COME FIRST SERVE
Closing Date: July 12, 2023
About the Property
Check out this 2 storey Detached property consisting of 5 bedrooms and 1.5 bathrooms! The seller has started some renovations, as the kitchen has been gutted, and reinsulated, with some drywall reinstalled. The rest of the house would need some renovations as well, as the seller has not started that work. The property has excellent bones and only needs cosmetic renovations to elevate its value! The property also sits on a large 1.5 acre lot, perfect for those looking to get out of the busy city! The last time a property with 5 bedrooms sold for less than 500K in Cannington was in 2018. This property is perfect for a beginner or experienced investor looking to add a fix and flip or rental property to their portfolio.
About the Neighbourhood
The subject property is situated about 5 minutes outside of the town of Cannington Ontario! Located in Durham Region, the property is about 25 minutes east of Lindsay, Kawartha Lakes, and about 30 minutes west of Georgina. Cannington is a gorgeous town with countless amenities including grocery stores, restaurants, schools (Elementary and High Schools). Therefore you have a small town vibe but you aren’t limited in amenities!
Property Details
- 2 Storey Detached
- 5 bedrooms
- 5 bedrooms on second floor
- 2 of the 5 bedrooms do not have closets but are still classified as bedrooms (as per MPAC)
- 1 den area on main floor that does contain a closet, so there is potential for a 6th bedroom
- 2 bathrooms
- 1 full washroom
- 1 half washroom (ensuite in master bedroom)
- 1942 squarefeet above grade (not including 700sqft addition)
- 616 squarefeet below grade
- Unfinished basement
- Stone foundation, some poured concrete
- 6ft ceiling height, some areas are lower (5.5ft)
- Roof was redone in 2012
- Windows on main floor are 5 years old
- Upper windows are 10 years old
- Natural gas furnace
- 18 years old as per seller, owned
- Plumbing is ABS, Copper and PEX in some areas
- No sign of Cast Iron plumbing, buyer to verify
- Breaker panel, copper wiring
- No sign of knob and tube, buyer to verify
- No A/C
- HWT is rented, buyer to assume rental
- Built in 1912
- According to MPAC, the back addition was added in 1982, which adds 711 sqft to the main level
- Lot size is 285ft x 230ft
- Zoning is RU (as per Brock Township zoning found here)
Recommended Renovations
- Full cosmetic renovation
- Consider adding paved driveway
- Seller has the option to leave junk behind so we would recommend budgeting for junk removal
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| The Numbers
We are selling our assignable purchase contract for this excellent FIX and FLIP or Rental Opportunity.
- Wholesale Price: $449,999
- We believe that this property is worth $575,000 “as-is” on the MLS
- We believe that after a full cosmetic renovation this property should be worth at least $680,000
- Buy now for 125K BELOW market value!
Comparable Analysis |
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- 2290 Concession 11 Road sold for $550,000 in October 2022. This detached bungalow consists of 3 bedrooms 1 bath and is much smaller in size than the subject property. The comparable sits on a larger lot but has a crawl space as opposed to a full basement like the subject property. The comparable is dated throughout and much older than the subject property. Therefore, after adjustments and taking into consideration the market shift, we believe the subject property would sell for around $575,000, in “as is” condition.
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- 260 Highway 48 sold for $680,000 in February 2023. The comparable property is a 2 storey detached that consists of 4 bedrooms 2 bathrooms. The comparable does have a larger footprint however with the extension on the subject property, the squarefootage is similar. The comparable however sits on a larger lot than the subject property. The comparable presents itself nicer than the subject property but is still dated throughout. Therefore, after a full renovation, we believe this property would sell for at least $680,000 on the MLS, taking into consideration the bump in the market, and the extra bedroom as well.
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| Need Financing? |
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| Looking for a construction cost estimate?
SLG Renovations will manage the construction of this project from start to finish. If you’re looking for an estimate please email info@slgrenovations.ca |
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| If You’re Interested….
Email us at info@slgpropertydeals.ca or call Jocelyn at 647-930-0291. Jocelyn can answer any questions you have and set up a time to view the property.
Please Do Not Go Directly to the Property
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| Disclaimer: The contents of this email are for informational purposes only. We are not home inspectors or appraisers. Please ensure you do your own due diligence. |
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