Oshawa Assigned

By April 24, 2021
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $50,000 BELOW Market Value!

Closing Date: June 15th, 2021

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

Crowells Street – Oshawa, ON

The subject property is a Link/Detached 2 storey located in the Pinecrest neighbourhood in the booming market of Oshawa. The property is situated on a quiet street near amenities, parks and schools with easy access to Highway 401, Highway 407 and the Go Train. This property is structurally sound, with updated electrical, roof and furnace. The second floor has been renovated with new flooring, trim and doors. This property is suitable for a beginner or experienced investor looking to take on a quick cosmetic fix and flip or acquire a rental in a prime area at a large discount.

Property Features

• Link/Detached 2 storey
• 1096 sqft above grade
• 548 sqft basement
• 3 Bedrooms, 1.5 Bath
• Majority of the basement is finished (ceiling needs to be drywalled or ceiling tile added)
• Lot: 29 ft Frontage x 113 ft Depth
• Breaker panel, copper wiring
• Roof is 8 years old
• Furnace is 8 years old (owned)
• A/C is older but working (owned)
• Zoning – R2
• Built in 1987

Renovations Needed

• New flooring, trim and doors on main floor and basement
• Finish basement ceiling
• New kitchen on main floor or keep existing and add new countertop and backsplash
• Update washrooms
• Paint

We are selling our assignable purchase contract for this excellent FIX & FLIP or Rental opportunity.

• Wholesale Price: $609,999 or Best Offer
• We believe that this property is worth $660,000 as-is on the MLS
• We believe that after a cosmetic renovation, it should sell for $750,000 or more on the MLS depending on the finishes
• Purchase today for $50K BELOW MARKET VALUE

Comparable Analysis

• 654 Idylwood Court sold in March 2021 for $695,000. It is a link raised bungalow with 3+1 bedrooms, 2 baths and 1 garage. In comparison to the subject property, it has the same number of beds above grade, same number of baths and similar square footage. However this property is more well kept and has a 30k higher MPAC value. We believe that after making these adjustments, the subject property would sell for around $660,000 on the MLS in its current condition.
• 942 Attersley Drive sold in January 2021 for $780,000. It is also a 3 bedroom, link 2 storey. This property has been fully renovated with nice finishes but nothing over the top. In comparison to the subject property, it has similar square footage, same number of bedrooms, but has an additional washroom. Note that this property sold in January, and home prices in Oshawa have appreciated since then. We believe that after a full cosmetic renovation with similar finishes, the subject property would sell for a similar price on the MLS once completed. We believe an investor could also do a more minimal cosmetic renovation and still sell for around $750,000.