Russell Avenue, St. Catharines, Ontario
Offer Date: FIRST COME FIRST SERVE
Closing Date: April 18th, 2025
*The seller at his or her option may occupy the property after closing date for a period until May 15th 2025 at no cost provided that the vendor obtains a policy of tenant insurance in form and substance satisfactory to the purchaser. The vendor may exercise this option by written notice to the purchaser on closing date. If the vendor exercises such option then the purchaser’s solicitor shall hold back $50,000 due on the statement of adjustments and shall not be required to pay same to vendor’s lawyer unless and until the vendor vacates the premises. Each day the seller stays after May 15th 2025 the vendor owes the buyer $1000 from the holdback.*
** Realtors bring us a client and add your commission on top of the purchase price**
About the Property
Here’s your chance to purchase a detached 2-storey home full of potential! This 3-bedroom, 2-bathroom property is waiting for someone with a vision. With a spacious 57ft x 132ft lot and a detached 2-car garage, there’s plenty of room to make this property your own. The home features 1,121 sqft of living space above ground, plus a partially finished basement with a separate entrance that can be configured for extra living space/rental unit. The home does have some smoke smell in the living room, but it’s contained and ready for your personal touch.
This property is a fantastic opportunity for an investor looking for a spring project or a rental in a great St. Catharines location. Don’t miss out on this one!
About the Neighbourhood
The subject property is situated in the downtown area of St. Catharines. St. Catharines is located west of Niagara Falls. There are countless nearby amenities including restaurants, gas stations, parks, grocery stores & more. There are 3 bus stops within a 5-minute walk and the St. Catharines Go Station is only 9 minutes away providing easy transportation for commuters. The QEW is only 2 minutes away providing easy access westbound towards the GTA and eastbound towards Niagara Falls.
Property Details
- Detached 2 storey
- Siding exterior
- 3 bed
- 2 bath
- 1 full bathroom upstairs, 1 3pc in basement
- 1121 sqft above grade
- 549 sqft below grade
- Basement is partially finished
- Has a separate entrance
- 6ft 5″ ceiling height
- 5ft 10″ under the bulkhead
- previous leak from main stack has been addressed (carpet is stained and potentially mouldy)
- Electrical is on breaker panel
- Built in 1916
- Furnace is owned
- Installed in 2005 as per seller
- working condition
- HWT is owned
- No A/C
- Fridge, stove, dishwasher to be left behind in AS IS condition
- Roof redone 18 years ago
- Mostly dated with some updated windows
- Slight smoker smell contained in first floor area
- Detached 2 car garage
- electrical panel in garage is on breakers
- wood stove for heating
- Appliances included in as-is condition
- fridge, stove, washer, dishwasher
- 57.60 ft x 132 ft
- Property taxes are about $3484
- R2 zoning
- skip to page 64 for potential R2 zoning uses
Recommended Renovations
- Cosmetic renovation
- Consider updating remaining dated windows
- Consider updating Furnace
- Consider adding A/C
- The seller has the option to leave junk behind so we would recommend budgeting for junk removal
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The Numbers
We are selling our assignable purchase contract for this excellent FIX and FLIP or Rental opportunity.
- Wholesale Price: $374,999 or Best Offer
- We believe that this property is worth $430,000 as-is on the MLS
- We believe that after the recommended renovations are completed, this property should be worth at least $575,000 on the MLS.
- Purchase today for $55K BELOW MARKET VALUE
Comparable Analysis
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- 21 Mccalla Drive sold for $428,000 3 days ago. This comparable bungalow has a 2-bedroom 1-bathroom and an partially finished basement. The comparable property has a smaller 950 sqft footprint and sits on a similar sized 47ft x 143ft lot. Additionally, the comparable property has no garage. Cosmetically, the property is dated similarly to the subject property. We believe that in its current condition, the subject property would sell for a price around $430,000 on the MLS!
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- 174 Lake Street sold for $409,000 in October 2024. This comparable 1.5 storey has a 3-bedroom 1-bathroom setup and an unfinished basement. The comparable property has a similar 1347 sqft footprint and sits on a much smaller 33ft x 80ft lot. Additionally, the comparable property has no garage. Cosmetically, the property is dated similarly to the subject property. We believe that in its current condition, the subject property would sell for a price around $430,000 on the MLS!
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- 28 Ottawa Street sold for $580,000 just 11 days ago. This 2-storey comparable has a 1+3 bedroom, 3-bathroom setup and a finished basement. Although the comparable property has 3 basement bedrooms, it lacks 2 above-ground bedrooms. Additionally, the comparable property has no garage. The comparable property has a similar footprint of 1370 however, it sits on a much smaller 31ft x 90ft lot. Cosmetically, the comparable has had some updates throughout but is not a true ARV example. We believe that after the recommended renovations are completed, the subject property would sell for a price around $575,000 on the MLS!
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- 102 Lowell Avenue sold for $527,999 just 15 days ago. This 2-storey comparable has a 3-bedroom, 2 bathroom setup and an unfinished basement. Additionally, the comparable property has no garage. The comparable property has a similar footprint of 1000 sqft however, it sits on a much smaller 30ft x 101ft lot. Cosmetically, the comparable has had some updates but is not a true ARV example. We believe that after the recommended renovations are completed, the subject property would sell for a price around $575,000 on the MLS!
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- 5 Huron Street sold for $575,000 in Dec 2024. This 2-storey comparable has a 3-bedroom, 2 bathroom setup and an unfinished basement. Additionally, the comparable property has a detached 1 car garage. The comparable property has a similar footprint of 1320 sqft however, it sits on a much smaller 35ft x 105ft lot. Cosmetically, the comparable has had some updates but is not a true ARV example. We believe that after the recommended renovations are completed, the subject property would sell for a price around $575,000 on the MLS!
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