Condo Townhouse in Brampton! Assigned

  • $475,000
  • 3 beds
  • 1 baths
Assigned
Hanson Road North, Brampton

Offer Date: FIRST COME FIRST SERVE
Closing Date: December 13th 2024

***SELLER HAS THE OPTION TO EXTEND CLOSING TO JANUARY 3RD, 2025 GIVEN NOTICE IS PROVIDED TO THE BUYER BY NOVEMBER 29TH, 2024***

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

About the Property

Check out this 2-storey condo townhouse house in need of a strategic renovation in order to unlock its true potential! The property has had a few updates done such as some minor kitchen updates and some flooring. Although the property is mostly outdated it still presents well. This home boasts three bedrooms, one bathroom, and has a footprint of 1083 sqft. The seller is a smoker and would regularly smoke in the basement however the smoke smell is light and contained to the basement. There was a previous leak in the basement that has already been fixed by the condo corp. The basement is unfinished aside from some existing paneling on the wall and the rear deck is in need of a few new planks. The Furnace and A/C are owned and have been replaced in 2013. Additionally, the electrical panel has already been updated to breaker saving the buyer a costly repair. This property is perfect for an investor looking to start the new year with a great flip or an investor looking for a fantastic rental in Brampton.

About the Neighbourhood 

The subject property is situated in the Madoc neighborhood of Brampton just north of the Queen Street East and Hanson Road North intersection. Brampton is located just north of Mississauga. This property is surrounded by countless amenities such as restaurants, Wal-Mart, Starbucks, Mcdonalds, Food Basics, malls, parks, and much more! There are multiple bus stops within a 10-minute walk and the Brampton Go Bus Terminal is only a 8-minute drive away. HWY 410 is only 5 minutes away providing easy access south towards Mississauga and eastbound towards the GTA via HWY 401.

Property Details

  • 2 storey condo townhouse
  • 3 bedrooms
  • 1 bathrooms
  • 1083 sqft above grade
  • 523 sqft below grade
  • Built-in 1976
  • No separate entrance
  • The basement is partially finished
    • Has some paneling up.
    • Will require drywall work throughout as well as flooring
    • 7-8ft ceiling height as per seller
  • Appliances included
    • Fridge, Stove, Washer, Dryer
  • Main floor and upper floor curtains and curtain rods are not included
  • No garage
    • 1 overground parking spot
  • Breaker panel
    • Wiring is copper as per seller
  • Furnace is owned
    • Replaced in 2013 as per seller
  • A/C is owned
    • Replaced in 2013
  • HWT is rented
    • installed in 2009
  • Roof is covered by the condo board
    • Exact age unknown
  • Windows are covered by the condo board
    • Exact age unknown
  • 1 over-ground parking spot
  • Maintenance is $530 per month
    • Covers roof, windows, walkway maintenance, cable & internet
  • Property taxes are approximately $2878
  • Zoning is R3A-3096

Recommended Renovations

  • Strategic cosmetic renovation
  • Replace a few planks on rear deck
  • Seller has the option to leave junk behind so we recommend budgeting for junk removal
Pictures and More
The Numbers

We are selling our assignable purchase contract for this excellent Fix & Flip or Buy & Hold opportunity.

  • Wholesale Price: $474,999
  • We believe that this property is worth $525,000 as-is on the MLS
  • We believe after a full renovation and depending on finishes, this property would sell for at least $610,000 on the MLS
  • Purchase today for $50K BELOW MARKET VALUE
Comparable Analysis
  • 2-93 Hansen Road North sold for $539,000 in June 2024. This comparable consists of 3+1 bedrooms 2 bathrooms and is slightly larger in size than the subject property at 1200-1399 sqft. The comparable is outdated similar to the subject property. The comparable has 1 parking spot similar to the subject property however it does have a finished basement, unlike the partially finished basement of the subject property. The comparable has a slightly higher maintenance fee of $570 per month. Therefore after adjustments, we believe the subject property would sell for a price of $525,000 on the MLS in as is condition.
  • 73-93 Hansen Road North sold for $595,000 in August 2024. This comparable consists of 3 bedrooms, 2 bathrooms and is similar in size to the subject property at 1000-1199 sqft. The comparable is mostly outdated however it presents better than the subject property as the finished basement has been recently updated. Similar to the subject property, the comparable has one parking spot however unlike the subject property the comparable has an additional bathroom and a finished basement. The comparable has a slightly higher maintenance fee of $564 per month. Therefore, after adjustments and a full renovation, we believe the subject property would sell for a price of $610,000 on the MLS.
  • 65-81 Hansen Road North sold for $623,000 in May 2024. This comparable consists of 3+1 bedrooms, 2 bathrooms and is slightly larger in size than the subject property at 1200-1399 sqft. The comparable is has had updates done throughout but is still not a true ARV. Similar to the subject property, the comparable has one parking spot however unlike the subject property the comparable has an additional bathroom, basement bedroom and a finished basement. The comparable has a slightly higher maintenance fee of $572 per month. Therefore, after adjustments and a full renovation, we believe the subject property would sell for a price of $610,000 on the MLS.
Price:
$475,000
Address:
Brampton
Bedrooms:
3
Bathrooms:
1
Terms:
Assignment of Contract
Property Type:
Condo

Call 647-930-0291 for more details