Detached Backsplit in Kitchener! Assigned

  • $619,999
  • 3 beds
  • 2 baths
Bosworth Crescent, Kitchener, Ontario

Offer Date: FIRST COME FIRST SERVE
Closing Date: August 30th, 2024

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

**Seller has the option to shorten closing to July 31st if notice is provided by July 12th**

About the Property

This detached 4-level backsplit home in Kitchener consists of 3 bedrooms, 2 bathrooms, and has a footprint of 1153 sqft. The property is mostly dated throughout however, it has been very well maintained and can be resold on the MLS in its current condition. The main washroom and electrical panel have already been updated. The crawl space portion of the basement has been underpinned in order to provide additional full-height living space. The basement is partially finished as one half is unfinished storage space. This Kitchener home is perfect for an investor looking for their next fix & flip project or an investor looking for a rental property in Kitchener. Call NOW! This deal will not last!

About the Neighbourhood 

This property is located in the Laurentian Hills neighborhood of Kitchener. Kitchener is located just west of Guelph. The subject property is located east of the Westmount Road East and Block Line Road intersection. The property is surrounded by countless amenities such as Freshco, Nofrills, Tim Hortons, Sunrise Shopping Centre, and many more! The University of Waterloo, Wilfrid Laurier University, and Conestoga College are within a 15 minute drive! The Waterloo International Airport is also only a 19 minute drive away from the subject property. The Kitchener GO Station is an 12 minute drive from the property. The closest Highway-8 ramp is only a 6 minute drive away, making accessibility quick & convenient!

Property Details

  • Detached 4-level Backsplit House
  • No garage
  • 3 bedrooms upstairs
  • 2 bathrooms
    • 1 full bath
    • 1 half bath
  • 1153 sqft above grade
  • 1153 sqft below grade
  • Partially finished basement with separate entrance
    • Ceiling Height is 7+ feet
  • Property taxes are about $2504.00 per year
  • Electrical panel is breaker,
    • copper wiring as per seller
  • Built in 1975
  • Furnace is owned
    • 12 years old
  • A/C is owned
    • 24 years old
  • HWT is a rental
    • Age unkown
  • Roof was redone 12 years ago
  • Windows are older but mostly in good condition
  • Lot size is 40ftx100ft
  • RES-3 Zoning

Recommended Renovations

  • Full cosmetic renovation OR clean, paint and relist!
  • Update a few windows
  • 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: $619,999
  • We believe that this property is worth $720,000 on the MLS
  • We believe that after a full cosmetic renovation, this property should be worth at least $820,000 on the MLS.
  • Purchase today for $90K BELOW MARKET VALUE

Comparable Analysis
  • 39 Bosworth Crescent sold for $760,000 in April 2024 after only 6 days on the market! This comparable backsplit consists of 3 bedrooms, 2 bathrooms, and is an near identical floor plan to the subject property. The comparable is dated but has had a few updates done and shows better than the subject property. Additionally the comparable has a brand new shed as well as a seperate entrance for the basement. Unlike the subject property, the comparable has not had the crawl space underpinned for additional ceiling height. Therefore, after adjustments, we believe the subject property is worth at least $720,000 in “as-is” condition.
  • 84 Briar Knoll Drive sold for $775,000 in April 2024. This comparable backsplit consists of 3 bedrooms, 2 bathrooms, and has a footprint of 1118 sqft. It sits on a 38ft x 120ft pie lot. Unlike the subject property, this comparable has an attached 1-car garage. The property is dated throughout similar to the subject property. The basement is finished similar to the subject property however the crawl space has not been underpinned for additional ceiling height. Therefore, after adjustments, we believe the subject property is worth at least $720,000 in “as-is” condition.
  • 78 Laurentian Drive sold for $841,000 in February 2024 after only 7 days on the market! This comparable sidesplit consists of 3 bedrooms 2 bathrooms, and has a footprint of 1143. The comparable sits on a larger 60ft x 101ft lot and is completely updated throughout.  Unlike the subject property, the comparable does have a basement apartment with a separate entrance. Therefore, after a full cosmetic renovation and adjustments, we believe the subject property would sell for at least $720,000 on the MLS.
Price:
$619,999
Address:
Kitchener
Bedrooms:
3
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1975

Call 647-930-0291 for more details