Detached 2-Storey in Hamilton! Assigned

  • $349,999
  • 3 beds
  • 2 baths
Assigned

Detached 2-Storey in Hamilton!

Fix & Flip or Rental Opportunity

$50K BELOW Market Value!

John Street North
John Street North, Hamilton, Ontario

Closing Date: May 1st, 2025

** Realtors bring a client and add your commission onto purchase price **

About the Property

Looking for your next Hamilton flip? Look no further! This siding-clad detached 2-storey consists of 3 beds, 2 bathrooms and is approximately 1147 sqft above grade. The property is in need of a full cosmetic renovation as well as some updates to the electrical and plumbing. The property is still on a fuse panel and there is some water seeping into the unfinished basement through the concrete blocks. Fortunately, the roof, windows, hot water tank and furnace are all in good condition at around 10-12 years old. Additionally, the exterior deck is in rough shape and requires a refresh. This property would be perfect for an investor looking for a great summer project or an investor looking for a fantastic rental property in Hamilton.
About the Neighbourhood

This property is located in the city of Hamilton, which is located west of Burlington. Downtown Hamilton is only a 11-minute drive away providing countless amenities. The Hamilton GO Centre is a 12-minute drive away and there are multiple bus stops within a 3-minute walk providing commuters with easy transportation.  HWY 403 is only 11 minutes away providing easy access west towards Brantford and east towards Toronto.

Property Details

  • Detached 2-storey house
    • Siding
  • 3 bedrooms
    • MPAC classifies the property as a 3 bed
    • Currently there are 3 bedrooms however the third bedroom is access through the second bedroom on the 2nd floor (as per the video)
  • 2 bathrooms
    • 1 full bathroom upstairs
    • 1 half bathroom on main
  • Basement is unfinished
    • The ceiling height is around 6-7ft throughout, buyer to verify 
    • Separate entrance from the side of the house
    • Concrete blocks exhibit moisture periodically
  • No designated parking however seller used the side lot to park vehicle and never had an issue
  • 1147 sqft above grade
  • 624 sqft below grade
  • Appliances are included in as-is condition
    • Fridge, stove, dryer
  • Property taxes are about $2464
  • Furnace is owned
    • Around 10 years old as per seller
  • HWT is rental
    • Around 12 years old as per seller
  • No A/C
  • Roof
    • 10 years old as per seller
  • Windows
    • 10 years old as per seller
  • Fuse Panel
    • Seller unsure of wiring
  • No garage
  • Driveway on side yard, can be converted back to lawn
  • Built in 1890
  • 17 ft x 76.50 ft lot
  • D zoning 

Recommended Renovations

  • Full cosmetic renovation
  • Upgrade electrical
  • Exterior landscaping work for curb appeal
  • Consider adding A/C
  • Possibly refresh exterior deck
  • Seller has the option to leave contents behind so we 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: $349,000
  • We believe that this property is worth $400,000 as-is on the MLS
  • We believe that after the recommended renovation this property would sell for at least $550,000 on the MLS
  • Buy now for $50K BELOW market value!

Comparable Analysis
  • 528 Catharine Street North sold for $390,000 just 4 days ago after only 2 days on the market! This 2 bed 1 bath detached bungalow comparable is outdated throughout but presents better than the subject property. It has a smaller footprint of only 645 sqft and sits on a larger 27ft x 111ft lot. Similar to the subject property the comparable has no garage and an unfinished basement. Unlike the subject property which is a 2 storey the comparable is a bungalow. Additionally the comparable lacks one bedroom and one bathroom. Therefore we believe, after adjustments, the subject property would sell for a price of at least $400,000 on the MLS in AS-IS condition!
  • 62 Guise Street East sold for $610,000 just 28 days ago! This 3 bed 1 bath detached 2 storey comparable has been updated throughout unlike the subject property. It has a smaller footprint of only 992 sqft and sits on a similar 17ft x 70ft lot. Similar to the subject property the comparable has no garage and an unfinished basement. Unlike the subject property, the comparable faces the water and has 1 less bathroom. Therefore we believe, after adjustments and the recommended renovations, the subject property would sell for a price of at least $550,000 on the MLS.
  • 195 Wood Street East sold for $517,000 in November 2024. This 2 bed 2 bath detached 2 storey comparable has been updated throughout with a tasteful renovation. It has a smaller footprint of only 984 sqft and sits on a similar 19ft x 90ft lot. Similar to the subject property the comparable has no garage. Unlike the subject property, the comparable has a finished basement and one less bedroom. Therefore we believe, after adjustments and the recommended renovations, the subject property would sell for a price of at least $550,000 on the MLS.
Price:
$349,999
Address:
Hamilton, ON
Bedrooms:
3
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home

Call 647-930-0291 for more details