By April 13 , 2022
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $60K BELOW Market Value!
Closing Date: April 29, 2022

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

Purpledusk Trail, Toronto, Ontario

About the Property

This 2 Storey condo townhouse consists of 3 bedrooms, 1.5 bathrooms and has an attached garage. The property is quite dated but would benefit greatly from a cosmetic renovation. The property does have a full finished basement, however it is generally used as a storage area. The roof is about 5 years old, and is the responsibility of the condo corporation. The monthly fees for the condo corporation are approximately $380/month, which includes roof, windows and general maintenance in common areas. The flooring throughout the house is hardwood, which is in good condition and is salvageable (can be sanded and stained). Both the furnace and A/C were updated in 2015, and are in extremely good condition as well. This property is best suited for a beginner or experienced investor looking for a great fix and flip, or rental opportunity in an extremely desired neighbourhood in Scarborough!

About the Neighbourhood 

The subject property is situated in the Morningside area of Scarborough. Located perfectly near Food Basics, restaurants, pharmacies, Scarborough Health Network and Morningside park, this property will be perfect for a family once a savvy investor adds their cosmetic upgrades! The property is also easily accessible from Highway 401, which is less than 2 minutes away! The property is also very close to local transportation hubs specifically Scarborough Bus Terminal and Agincourt GO, with trains and bus routes connecting to Union Station, Downtown Toronto.

Property Features

• 2 Storey Condo Townhouse
• 3 bedrooms
• 1.5 bathrooms
• 1200 sqft above grade
• 600 sqft below grade
• Finished Basement
• Property taxes are about $1991
• Condo Fees: $383/month (as per seller)
• Breaker panel, 100 amp (as per seller)
• Copper wiring
• Built in 1968
• Furnace is owned and 5 years old (as per seller)
• HWT is owned, and 5 years old (as per seller)
• Roof is about 5 years old (as per seller)
• Windows are about 10 years old (as per seller)
• The property is vacant and the seller has removed all belongings, meaning you will not need to budget for junk removal

Recommended Renovations

• Full cosmetic update
• Addition of a bathroom in basement to elevate the subject property’s potential

We are selling our assignable purchase contract for this excellent FIX and FLIP opportunity.

• Wholesale Price: $719,999 or Best Offer
• We believe that this property is worth $780,000 as-is on the MLS
• We believe that after a full renovation this property should be worth at least $875,000 on the MLS.
• Purchase today for $60K BELOW MARKET VALUE

Comparable Analysis

• 114 Purpledusk Trail sold for $800,000 in January 2022. This 2 Storey condo townhouse has 3 beds, 2.5 bathrooms and 1 garage. It is on the same street and is the same size as the subject property. This property was well maintained over the years and had some minor upgrades in the living room, specifically the flooring and trim. However, like the subject property, the kitchen and bathrooms are both dated but well maintained and could use a cosmetic upgrade. Due to market changes since January, and considering the property has an extra bathroom in the basement, we believe the subject property would sell slightly below the comparable on the MLS.
• Unit 47 – 441 Military Trail sold for $820,000 16 days ago, TENANT OCCUPIED. This 2 Storey Condo Townhouse has 3 beds, 2.5  bathrooms and 1 garage. The property has similar fees to the subject property, with fees totaling around $330/month. The comparable property is similar in size to the subject however it does have an extra bathroom in the basement. The comparable property has undergone some renovations over the years (especially the kitchen) and is very well maintained. However we believe that a full renovation will increase the value of the property greater than the comparable. We believe after a full renovation that the subject property would sell for a price much higher than the comparable on the MLS.