| Military Trail, Scarborough, ON
Offer Date: FIRST COME FIRST SERVE
Closing Date: August 2nd, 2023
** Realtors bring us a client and add your commission on top of the purchase price**
About the Property
This condo townhouse consists of 3 beds, 2 bathrooms, 1 parking spot and has a footprint of 1214 sq/ft. The subject property is a well-maintained end unit that will require a cosmetic renovation both upstairs and in the basement, as well as some minor touch ups on the main floor. The roof is covered by the maintenance fees and was replaced less than 10 years ago. The windows are the buyer’s responsibility. The electrical has been updated to a breaker system. This property is ideal for an investor looking for a quick flip or long-term rental property in Scarborough!
Property Details
- Condo townhouse, end unit
- 3 beds
- 2 bath
- 1 powder room on main floor
- 1214 sqft above grade
- 615 sqft below grade
- 1 car attached garage
- Built in 1972
- Appliances are included
- Fridge, Stove, Washer, Dryer, Dishwasher
- Breaker panel installed in 2006
- Unfinished basement
- Furnace is owned
- installed prior to 2006 as per seller
- Electric baseboard heaters in some rooms upstairs that are still functioning. However the property does have forced air which is the sellers main choice of heat
- AC is owned
- installed prior to 2006 as per seller
- HWT is rented
- Roof was replaced less than 10 years ago
- Windows installed before 2006 as per seller
- Maintenance fees are $463/month
- covers water, landscaping, snow removal, roof repair and exterior maintenance
- Small backyard area
- Property taxes are approximately $2005
- Zoning RA
Recommended Renovations
- Full cosmetic renovation of second floor and basement
- Minor cosmetic touch ups on first floor
- Seller has the option to leave junk behind so we recommend budgeting for junk removal
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| The Numbers
We are selling our assignable purchase contract for this excellent FIX and FLIP opportunity.
- Wholesale Price: $619,999
- We believe that this property is worth $700,000 as-is on the MLS
- We believe after a cosmetic renovation, the subject property would sell for at least $770,000 on the MLS
- Purchase today for $80K BELOW MARKET VALUE
Comparable Analysis |
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- 18-331 Military Trail sold for $745,000 in March 2024 after only 19 days on the market! The comparable has 3 beds, similar to the subject property, however has a smaller footprint of 1000-1199 sqft. The comparable property has a finished walk-out basement with an extra full washroom. The comparable has slightly newer cosmetic finishes, however, it is a middle unit. Therefore, after adjustments, we believe the subject property would sell for a price of around $700,000 on the MLS, AS IS!
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- 19-341 Military Trail sold for $767,000 in March 2024 after just 11 days on the market!. The comparable has 3 beds and 2 baths, similar to the subject property, as well as a similar footprint of 1200-1399 sqft. The comparable has a fully renovated interior as well as a finished basement. Therefore, after adjustments, we believe the subject property would sell for a price of around $770,000 on the MLS after cosmetic renovations and finishing of the basement!
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