Innerkip Assigned

By April 21, 2021
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $50,000 BELOW Market Value!
Closing Date: July 1, 2021

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

*Note: The seller listed this property on the MLS through Property Guys Realty. The seller decided to hold back offers and list at $699,999. After 20 days on the market and no luck with any offers the seller contacted us directly to get a quick and easy private offer. Since the seller listed with a low commission brokerage instead of an experienced realtor, we believe that they made 2 mistakes with the listing: 1. They overpriced the property by $50,000; and 2. They held back offers which gave potential buyers the impression that they we’re expecting an offer over asking price.

Blandford Street, Innerkip, ON

Detached 2 storey located in the quiet town of Innerkip. With approximately 2,800 sqft, the subject property contains 6 bedrooms, 2 bathrooms, and 2 main floor kitchens. The property is situated near schools, restaurants, shops and Innerkip Park. The subject property is suitable for a beginner or experienced investor who is willing to take on a great fix & flip or Rental opportunity. You can’t find a detached property in Innerkip for under $600K!

Property Features

• Detached 2 storey
• 2,788 sqft first and second floor
• Unfinished Basement
• Separate entrance
• 6 beds, 2 baths
• 2 kitchens
• Potential in-law suite
• 66 ft Frontage x 165 ft Depth
• New Roof
• Most windows are in good shape
• Built in 1910
• Village Zoning allows for many potential uses

Renovations Needed

• Full cosmetic renovation

We are selling our assignable purchase contract for this excellent FIX & FLIP or Rental opportunity.

• Wholesale Price: $599,999 or Best Offer
• We believe that this property is worth $650,000 as-is on the MLS
• We believe that after a full cosmetic renovation this property should be worth $800,000 on the MLS
• Purchase today for $50K BELOW MARKET VALUE

Comparable Analysis

• 138 Coleman st sold in March 2021 for $664,000. It is a detached bungalow with 3+1 bedrooms, 2 bathrooms and 1 car garage. It is 1,100 sqft, sits on a 108′ x 155′ lot and the inside is cosmetically outdated. Additionally, the MPAC value of this comparable is $12,000 lower than the subject property. After making adjustments for sqft, lot size, condition and mpac value we believe that the subject property should conservatively be worth $650,000 as-is on the MLS.
• 34 Curtis st sold in March 2021 for $900,000. It is a detached 2 storey with 4 bedrooms, 4 bathrooms, and has a 2 car garage. It is approximately 2,700 sqft, sits on a 72′ x 109′ lot and the inside is fully renovated inside. Additionally, the MPAC value of this comparable is approximately $100,000 higher than the subject property. Given that this is a newer build than the subject, we don’t think an investor can obtain $900,000 after a full cosmetic renovation. However, after adjusting for MPAC values we believe it is likely an investor can sell for around $800,000 on the MLS after a full renovation.