Condo Townhouse in Stratford Assigned

  • $299,999
  • 3 beds
  • 1 baths
Assigned
88 Avonwood Drive, Stratford, Ontario

Offer Date: FIRST COME FIRST SERVE
Closing Date: November 4th, 2024

*As per APS, fridge and stove will be left behind in as-is condition*

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

About the Property

Check out this Condo Townhouse located in Stratford! This property consists of 3 bedrooms, 1 bathroom, and is approximately 1019 sqft above grade. The basement is unfinished and the property is partially updated throughout. The property will require some further updates such as kitchen cabinets, upper-level flooring, light fixtures, and finishing work to be a true ARV. There is no garage but the property does have 1 assigned parking spot. The HWT, A/C, and furnace have all been updated within the last 3 years. Additionally, all the plumbing is in good shape, the main floor flooring has been updated with engineered hardwood, and the electrical is on a breaker panel saving the buyer a costly job. If you’re looking for an easy fix and flip or long-term hold, this is the property for you!

Property Details
  • 2 Storey Condo Townhouse
  • 3 bedrooms
  • 1 full bathroom
  • 1019 sqft above grade
  • 493 sqft below grade
  • No garage
    • 1 assigned above ground parking spot
  • Appliances included in AS-IS condition
    • Fridge, Stove
  • Basement is unfinished
    • No separate entrance
    • Ceiling Height is roughly 8ft
  • $350/month maintenance fee
    • covers roof, windows, exterior maintenance
  • Breaker panel
    • Copper wiring
  • Roof redone in 2024
  • Windows were redone in 2020
  • Furnace and A/C are owned, installed in 2021 and in good condition as per seller
  • HWT is a rental, updated within the last 2 years as per seller
  • Built in 1976
  • Property taxes are approximately $2168
  • Zoning R4(2)

Recommended Renovations

  • Finish the flooring
  • Upgrade kitchen cabinets
  • Potentially finish basement and add second bath
  • The seller has the option to leave junk behind so we would recommend budgeting for junk removal
Pictures and More
The Numbers

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

  • Wholesale Price: $299,999
  • We believe that this property is worth $340,000 on the MLS
  • We believe that after the above recommended renovations are completed, this property should be worth at least $415,000  on the MLS.
  • Purchase today for $40K BELOW MARKET VALUE

Comparable Analysis

  • 42-91 Avonwood Street sold for $380,000 in March 2024. The comparable condo townhouse consists of 2 beds, 1 bathroom, and is similar in square footage at 1028 sqft. The comparable has had some updates done throughout and presents much better than the subject property. Unlike the subject property the basement in the comparable is finished. The comparable has 1 parking spot and a similar maintenance fee of $384 per month however there is one less bedroom than in the subject property. Therefore, after adjustments, we believe the subject property would sell for a price around $340,000 on the MLS in AS IS condition.
  • 25-91 Avonwood Drive sold in Feburary 2024 for $394,000. This comparable condo townhouse consists of 3 beds, 2 bathrooms and is slightly smaller in square footage at around 999 sqft. The comparable has undergone some minor cosmetic updates, with upgrades done to the flooring and kitchen countertop but is otherwise outdated throughout. The comparable presents better than the subject property and has a finished basement as well as a additional bathroom. Therefore, we believe that after a full renovation and the addtion of a second bathroom and finished basement the subject property would sell for a price around $415,000 on the MLS.
Price:
$299,999
Address:
Stratford
Bedrooms:
3
Bathrooms:
1
Terms:
Assignment of Contract
Property Type:
Condo

Call 647-930-0291 for more details