Detached 1.75 Storey House in Prince Edward County! Assigned

Offer Date: FIRST COME FIRST SERVE
Closing Date: July 31st, 2023
*The seller has the option to extend closing to August 14th given notice is provided by July 10th*

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

About the Property

Looking for a short term rental or quick flip summer project? Checkout this detached 1.75 storey house on 2 acres of land! New hardware and backsplash were done in the kitchen last year as well as a fresh coat of paint on the cabinets! The siding on the garage has to be redone and the deck in the back needs some work. The skylight in the addition was taken out and requires drywall. This property is perfect for any investor looking for a cosmetic fix and flip or short term rental with great potential returns!

About the Neighbourhood 

The subject property is situated in a desirable neighbourhood in Prince Edward County. Prince Edward County is located East of Toronto and in between Kingston and Colborne. Prince Edward County is located South of the 401. Prince Edward County which is home to countless wineries and the beautiful Sandbanks beach. This town has all of your basic amenities such as gas stations, grocery stores, pharmacies, restaurants, schools and much more.

Property Details

• Detached 1.75 Storey House
• 5 bedrooms
  • MPAC says 3 bedrooms, however, 1 of the bedrooms was converted into 2 smaller bedrooms and an extension was added to account for another additional bedroom and bathroom
• 2 bathrooms
• 1924 sqft above grade
• 828 sqft below grade
• Basement Ceiling Height is about 7.5ft as per seller
• No separate entrance
• Property taxes are about $1940
• Breaker panel, copper wiring
• Built in 1910
• On well and septic
  • Septic is older (more than 15 years) and was pumped out last year
• Furnace was purchased in 2013
• No A/C
• HWT is owned, seller unsure of age but in good condition as per seller
• Roof (part of it) was redone in 2022
  • Dormer redone in 2013
• Windows are in good condition but some need to be replaced
  • Laundry and bedrooms upstairs, as per seller
• 2 acres
• RR2 zoning

Recommended Renovations

• Full cosmetic renovation, minus the kitchen and bathroom
• Redo siding on garage
• Fix the deck
• The seller has the option to leave junk behind so we would recommend budgeting for junk removal

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

• Wholesale Price: $459,999
• We believe that this property is worth $530,000 as-is on the MLS
• We believe that after a full cosmetic renovation this property should be worth at least $710,000 on the MLS.
• Purchase today for $70K BELOW MARKET VALUE

Comparable Analysis

SLG Renovations will manage the construction of this project from start to finish. If you’re looking for an estimate please email info@slgrenovations.ca
View our past projects here