Fix & Flip Detached Bungalow in Brantford! 

$50K BELOW Market Value 

Colborne Street West

By April 21, 2022
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $50K BELOW Market Value!
Closing Date: October 3, 2022
Seller has the option to shorten closing up to 60 days given they provide the Buyer 3 weeks notice prior to new closing date

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

Colborne Street West, Brantford, Ontario

About the Property

This detached bungalow consists of 2+1 bedrooms and 1 bathroom. There are ABS/PVC pipes throughout, but new plumbing will be necessary in the basement due to some leaks. The roof was redone 10 years ago and is in great condition, but the windows are original and need to be replaced. The furnace is owned and is around 15-20 years old, so it will also need to be replaced. The HWT is a rental, which was replaced in 2008. The electrical panel is on breakers and has copper wiring, but it is very old and only 60 amps. There are holes throughout the drywall, which will need to be replaced. The house is in bad condition as it is a smoker’s house. We recommend doing a complete cosmetic reno in the property. This property is great for an investor looking for a property in rough condition to completely renovate and flip to maximize ARV potential.

About the Neighbourhood 

The subject property is situated in the West Brant neighbourhood of Brantford which is close to Grand River as well as many parks and trails. Brantford is located about 30 minutes east of Hamilton, and about 30 minutes south of Cambridge. The property is a about a 10 minute drive to Highway 403 which connects Brantford with Hamilton and other major highways. The Brantford VIA Rail station is about a 5 minute drive away, connecting Brantford with Toronto and London. The subject property is also a 7 minute drive to Brantford General Hospital. Surrounded by countless amenities including Sobeys, Shoppers Drug Mart, Home Hardware, and many restaurants, this property is in a desirable location.

Property Features

• Detached bungalow
• 2+1 bedrooms, 1 bathroom
• 743 sqft above grade
• 743 sqft below grade (300 sqft finished area)
• Property taxes are about $2495
• Breaker panel, 60 amps
• Copper wiring
• Built in 1948
• Kitchen and bathroom will need to be fully renovated
• Drywall throughout entire property will need to be replaced
• Furnace is owned and was replaced 15-20 years ago
• Windows are original and will need to be replaced
• HWT is rented and was replaced in 2008
• Roof was replaced 10 years ago
• 52.5ft x 155ft
• F-R1B Zoning

Recommended Renovations

• Completely renovate entire property including the kitchen and bathroom
• Replace the windows
• Replace flooring throughout the property
• Replace 60 amps breaker panel to 100 amps
• New plumbing in basement
• Replace drywall throughout property
• Replace the furnace
• Budget for major disposal costs, as seller’s will be leaving things behind

We are selling our assignable purchase contract for this excellent FIX AND FLIP opportunity.

• Wholesale Price: $374,999 or Best Offer
• We believe that this property is worth $425,000 as-is on the MLS
• We believe that after the recommended renovations, this property should be worth at least $575,000 on the MLS.
• Purchase today for $50K BELOW MARKET VALUE

Comparable Analysis

• 76 Gladstone Avenue sold for $440,000 in January 2022. The comparable is a similar size to the subject property, but does have a much smaller lot than the subject property. Although the comparable is in a different neighbourhood than the subject property, it does have a similar layout and also needs a full renovation. The comparable has the same amount of bedrooms and bathrooms above grade as the subject property. Although the comparable does not have a bedroom in the basement, the subject property will need a full renovation, which is why we believe it to be comparable. After adjustments including the fact that the subject property is on a main street, and accounting for the market change since January, we believe the subject property would sell for at least $425,000 “as-is.”
• 76 Mount Pleasant Street sold recently for $580,000 in the beginning of April 2022. The comparable is a similar size to the subject property, but does have a much smaller lot than the subject property. We also believe that the basement of the subject property could be renovated to a higher standard than this comparable to maximize ARV potential. After adjustments and completing a full renovation, we believe the subject property would sell for at least $575,000 on the MLS.