Purchase this Property Today for $80K BELOW Market Value!
Closing Date: May 6th, 2022

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

Glovers Road, Oshawa, Ontario

About the Property

This condo townhouse is a 2 storey house and consists of 3 bedrooms and 1.5 bathrooms. The maintenance fees are $400 and it includes snow removal, landscaping, exterior common area, roof and windows. Basement is partially finished and ceiling height is roughly 8ft. There is one attached garage and the square footage is 1248 sqft. There have been no renovations done to the property so we would recommend budgeting for a full cosmetic update. There was mould in the basement that has been contained and fixed as per the seller but we would recommend doing another mould inspection.  The furnace and A/C are both owned and the HWT is a rental.  All photos and information provided in this email is information sent to us by the seller, we have not visited the property.

About the Neighbourhood 

The subject property is situated on the north side of Oshawa and is located about a 15 minute drive to the Oshawa GO station. The subject property is close to countless amenities such as restaurants, Walmart, Starbucks, Canadian Tire, PetSmart, Best Buy, Home Depot, Tim Hortons, and Durham college. Oshawa is located about an hour east of Toronto off of the 401 and South of the 407.

Property Features

• 2 Storey Condo Townhouse
• 3 bedrooms
• 1.5 bathrooms
• 1248 sqft above grade
• 624 sqft below grade
• Condo fees $400
• Property taxes are about $2492
• Fuse panel
• Knob and Tube
• Built in 1975
• Furnace and A/C are owned
• HWT rental
• R3 Zoning

Recommended Renovations

• Full cosmetic update
• Update the electrical
• Budget for mould inspection
• Consider adding a bathroom and bedroom in the basement
• Seller has the option to leave junk behind so we recommend budgeting for junk removal

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

• Wholesale Price: $639,999 or Best Offer
• We believe that this property is worth $720,000  “as-is” on the MLS
• We believe that after a full renovation this property should be worth at least $850,000 on the MLS.
• Purchase today for $80K BELOW MARKET VALUE

Comparable Analysis

• 64 – 155 Glovers Road sold for $760,000 in February 2022. This condo townhouse is located in the same complex as the subject property. The comparable is similar in size and also consists of 3 beds 1.5 bath.  The comparable is outdated throughout and similar to the subject property comes with a one car garage. After adjustments, we believe the subject property would sell for at least $720,000 “as-is” on the MLS.
• 61 – 155 Glovers Road sold for $812,000 in February 2022. This condo townhouse is located in the same complex as the subject property. The comparable is slighlty bigger in size and consists of 3 beds 2.5 baths. The comparable has had some renovations done but is mostly outdated throughout. Similar to the subject property, the comparable also has a one car garage. Therefore, after adjustments and depending on finishes, we believe the subject property should sell for at least $850,000 on the MLS.
• 26 – 220 Ormond Drive sold for $860,000 in March 2022. This condo townhouse is a recently renovated end unit that consists of 3+1 beds and 2 baths. The comparable is similar in size but has a walkout. The comparable has an outdated kitchen and has baseboard heating. Similar to the subject property this townhouse has a one car garage. Therefore, after adjustments, and depending on finishes, we believe the subject property should sell for at least $850,000 on the MLS.