2 Storey Detached House in Niagara Falls! Assigned

Fix and Flip or Rental Opportunity $60K BELOW Market Value! Morrison Street Morrison Street, Niagara Falls, Ontario Offer Date: FIRST COME FIRST SERVE Closing Date: May 5th, 2023 ** Realtors bring us a client and add your commission on top of the purchase price** About the Property Fantastic opportunity for flippers or investors looking to add a buy and hold to their portfolio. This 2-storey 1352sq/ft detached property has had some recent updates making it a great opportunity for both someone looking for a simple flip or someone looking to rent it out as is. This property hosts 3 bedrooms and 3 bathrooms. The kitchen and kitchen flooring has been updated recently. The electrical has been updated and is running off a breaker panel. The basement is currently unfinished and has a ceiling height of 5ft. There is laminate in the first-floor kitchen and carpet upstairs. The A/C unit does not currently work and will need to be replaced. This property is perfect for an investor looking for a spring fix and flip or BRRR project. About the Neighbourhood  The subject property is situated in a desirable neighborhood in Niagara Falls. The subject property is surrounded by a variety of recreational amenities. Niagara Falls and Clifton Hills are only a 4-minute drive away. The rainbow bridge leading into the United States is located only 10 minutes away. Freshco, Sobeys, and Costco are under 15 minutes away from the subject property. Access to the QEW is only a 5-minute drive away. Property Details Detached 2 storey 3 bedrooms 3 bathrooms 2 full bathrooms 1 powder room 1352 sqft above grade 676 sqft below grade Breaker panel The unfinished basement is home to the laundry and mechanical room The basement ceiling height is 5ft in most of the basement and 6ft where the breaker panel and bathroom are Hot water tank is rented and at least 10 years old The furnace is rented and is at least 15 years old. The A/C is broken and will need to be replaced The roof was redone in 2014 Windows are dated Own driveway for two spots Built-in 1915 Property taxes are $2200 Lot size is 39ftx70ft Recommended Renovations Partial cosmetic renovation Fresh paint throughout Consider updating the windows A/C unit needs to be fixed or replaced General Landscaping Seller has the option to leave junk behind so we would recommend budgeting for junk removal Pictures and More The Numbers We are selling our assignable purchase contract for this excellent Turnkey or Rental Opportunity. Wholesale Price: $399,999 We believe that this property is worth $460,000 “as-is” on the MLS We believe that after a full cosmetic renovation this property will sell for around $575,000 on the MLS Buy now for 60K BELOW market value! Comparable Analysis 4764 McDougall Crescent sold for $445,000 in February 2023. This comparable has 3 bedrooms and 2 bathrooms and is smaller in size than the subject property. The lot size is slightly larger on the comparable at 40x70ft. Unlike the subject property, the comparable needs extensive renovations as nothing has been updated throughout the property. This property was being marketed toward investors. Based on these factors we believe the subject property would sell for around $460,000 on the MLS market as is. 4675 McDougall Crescent sold for $570,000 in March 2023. This 5 bedroom 2 bathroom comparable has 398 sqft more than the subject property. The comparable property does have some upgrades such as flooring and appliances. The lot on the comparable property is larger than the subject property at 49ft x 100ft. Therefore, after adjustments, we believe this property would sell for at least $460,000 “as-is” on the MLS 5283 Buchanan Ave sold for $590,000 in March 2023. This comparable was completely renovated with modern finishes. This property does have an attached 1-car garage which the subject property does not have. The subject property has 81 fewer sq/ft than the comparable. The comparable has 1 less bathroom than the subject property. The comparable sides onto the go parking lot located to the left of the property. Based on these factors we believe the subject property would bring in around $575,000 on the MLS after a cosmetic renovation. Click Here To See ALL Available Properties Need Financing? 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 View our past projects here 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