2020 South Millway, Mississauga, Ontario
Offer Date: FIRST COME FIRST SERVE
Closing Date: April 18, 2025
*Buyer agrees to pay Sellers legal fees up to $2000*
** Realtors bring us a client and add your commission on top of the purchase price**
Property Details
- Condo Townhouse – end unit
- Vacant Possession
- 3 Bedrooms
- 2 Bathrooms
- 1244 sqft above ground
- 622 sqft below ground
- Fuse Panel
- Copper and aluminum wiring
- Appliances included
- Fridge, stove, washer, dryer, dishwasher in AS IS condition
- Furnace from 1995 is owned
- HWT is a rental from 2015
- AC from 1995 is owned
- Maintenance fee is $540/month
- Covers water, internet, landscaping in general areas, snow removal in general roads, roof, windows
- Windows are 10-15 years old
- Roof is 8 years old
- 1 car attached garage
- Partially finished basement in need of a renovation
- Built in 1974
- Property taxes are $3,777
- Zoning is RM4
About the Neighbourhood
- Erin Mills
- Access to QEW & 403
- Erin Mills Go Station (8 Minutes)
- University of Toronto Mississauga (5 Minutes)
- Potential for student rental
Recommended Renovations
- Cosmetic updates
- Restore hardwood flooring
- Update bathrooms
- Renovate basement
- Upgrade to breaker panel
- Seller has the option to leave junk behind so we would recommend budgeting for junk removal
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The Numbers
We are selling our assignable purchase contract for this excellent Fix & Flip or Rental Opportunity.
- Wholesale Price: $659,999
- We believe that this property is worth $730,000 “as-is” on the MLS
- We believe that after a full cosmetic renovation this property will sell for at least $835,000 on the MLS
- Buy now for 70K BELOW market value!
Comparable Analysis
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- 62-3351 Hornbeam Crescent sold for $740,000 in January 2025 after 30 days on the MLS. This comparable property is a 3 bed 2 bath layout with an attached garage, which is the same as the subject property. It also has a similar square footage to the subject property at approximately 1200-1400sqft as per the listing. This comparable property has a maintenance fee of $367/month. The interior is in slightly better condition than the subject but is still dated and would still require some large renovations in order to be considered ARV, specifically removing wallpaper and painting, upgrading the bathrooms and kitchen, and finishing the basement. Therefore, after adjustments, we believe the subject property would sell for $730,000 on the MLS in “as-is” condition.
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- 27 – 2020 South Millway sold for $785,000 in October 2024 after just 13 days on the MLS. This 3+1 bed 2 bath condo townhouse is slightly larger than the subject property at approximately 1400-1600sqft as per the listing and is in the same complex as the subject property. This comparable has an attached 1 car garage which the subject property also includes. This comparable property has a maintenance fee of $524/month. In addition, the subject property is an end unit, whereas this comparable is not. This property is well maintained throughout, however it is still dated similar to the subject property. Therefore, after adjustments, we believe the subject property would sell for $730,000 on the MLS in “as-is” condition.
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- 47-3500 Glen Erin Drive sold for $822,000 27 days ago after 34 days on the MLS. This comparable property is a 3 bed 3 bath layout which is 1 additional bathroom compared to the subject property. This comparable has an attached 1 car garage which the subject property also includes. It also has a similar square footage to the subject property at approximately 1200-1400sqft as per the listing. This comparable property is in a different complex with a maintenance fee of $487/month. In addition, the subject property is an end unit, whereas this comparable is not. This property has been fully renovated throughout. Therefore, after adjustments and renovations, we believe the subject property would sell for $835,000 on the MLS!
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