Cheapest Detached House in Kitchener! Assigned

  • $474,999
Kent Avenue, Kitchener, Ontario

Offer Date: FIRST COME FIRST SERVE
Closing Date: January 16th, 2025

**Realtors bring us a client and add your commission on top of the purchase price**

About the Property
This detached 1 3/4-story home with an attic in Kitchener is a prime opportunity for investors. With 2 bedrooms, 1 bathroom, and a solid 1,061 sqft footprint, the property already boasts key updates to the top two floors, including new plumbing, electrical, drywall, insulation, and moisture barriers. The roof was also replaced this year, saving you from a major expense. Currently the basement is unfinished and the home lacks AC (seller was using window units). The previous owner was a smoker however it was largely contained to the first floor. The property does require some cosmetic updates, but with the right renovations, the potential for a strong return—whether through resale or rental—makes this an attractive investment. Don’t miss out on this opportunity—properties like this don’t last long in today’s market!

Property Details

  • 1 3/4 Storey Detached House
    • w/ attic
  • 2 bedrooms
  • 1 bathroom
  • 1061 sqft above grade
  • 552 sqft below grade
  • Unfinished basement
    • Ceiling height is around 7ft
  • 2 Electrical panels, breaker
    • 100 amp, copper wiring as per seller
  • Furnace is owned, replaced in 2020
  • No A/C
  • HWT is owned and is 15-20 years old as per seller
  • Roof was redone in 2024
  • Windows 25 years old as per seller
  • No garage
    • Large shed at end of driveway
  • Built in 1920
  • Lot size is 40.4ft x 90ft
  • Smokers house (main floor)
  • Property tax around $2606
  • R-5 Zoning

Recommended Renovations

  • Minor cosmetic updates
  • Consider updating windows, finishing basement, adding A/C
  • The 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 FIX and FLIP or rental opportunity.

  • Wholesale Price: $474,999
  • We believe that this property is worth $535,000 on the MLS
  • We believe that after a full cosmetic renovation, this property should be worth at least $650,000 on the MLS.
  • Purchase today for $60K BELOW MARKET VALUE

Comparable Analysis
  • 57 Stirling Avenue South sold for $582,000 in June 2024 after only 9 days on the market! This comparable 1.5 Storey Detached House consists of 3 bedrooms, 2 bathrooms, has a similar footprint of 1050 sqft and sits on a slightly larger lot of 53 x 113 feet. Unlike the subject, however, the basement is finished and it features a 1 car detached garage. Also, the comparable house has a siding exterior whereas the subject is brick. Therefore we believe, after adjustments, the subject property would sell for a price of at least $535,000 on the MLS in AS-IS condition!
  • 32 Bruder Avenue sold for $680,000 in October 2024 after only 14 days on the market! This comparable 2 Storey Detached House consists of 3 bedrooms and 1 bathroom. The comparable is slightly larger at 1152 sqft due to the extra bedroom. The comparable has been fully updated throughout, however, still has an unfinished basement. Similar to the subject, the comparable does not have a garage. Therefore we believe, after adjustments, the subject property would sell for a price of at least $650,000 on the MLS!
  • 32 Hebel Place sold for $725,000 in September 2024 after only 8 days on the market! This comparable 1.5 Storey Detached House consists of 2 bedrooms, 3 bathrooms, has a similar footprint of 1184 sqft and sits on a smaller lot of only 38 x 63 feet. This comparable has been completely renovated throughout, including the basement. Similar to the subject, there is no garage. Therefore we believe, after adjustments, the subject property would sell for a price of at least $650,000 on the MLS!
Price:
$474,999
Address:
Kitchener
Terms:
Assignment of Contract
Property Type:
Home

Call 647-930-0291 for more details