By January 19th, 2022
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $50K BELOW Market Value!
Closing Date: March 1st, 2022
Seller has the opportunity to extend closing by 30 days (March 31st 2022) provided they inform the buyer by February 8th 2022

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

Todd Street, Cambridge, Ontario

About the Property

This Detached Bungalow home contains 3 bedrooms, 1 bathroom and is 1007 sqft. The windows and roof are in good condition and were both replaced in 2015. The property requires a full cosmetic renovation.
The basement ceiling height is exactly 6ft and is a total of 844 sqft. It can’t be finished but would be good for extra storage or a small rec room. The property is suited for a beginner or experienced investor who is looking for a Fix & Flip or Rental Opportunity in the growing city of Cambridge.

About the Neighbourhood 

The subject property is situated in a good neighbourhood in Cambridge. The property is located down the street from downtown, west of Water Street and south of Coronation Boulevard. This property is situated near the Cambridge hospital and is close to countless amenities such as restaurants, shops on the downtown strip, FreshCo, Sobeys, Zehrs, Shoppers Drug Mart, Canadian Tire and schools. Cambridge is also perfectly situated off Highway 401 making it very accessible from neighboring cities.

Property Features

• Detached Bungalow
• 3 bedrooms
• 1 bathroom
• Shared paved driveway, two parking spots
• 42ft x 127ft lot
• 1007 sqft above grade
• 844 sqft below grade
• Roof was replaced in 2015
• Windows were replaced in 2015
• Unfinished basement, 6ft ceiling
• Breaker Panel, copper wiring, 100 amp
• All plumbing was updated in the past 7 years (no cast iron or galvanized pipes)
• Furnace purchased in 2007, maintained and inspected yearly
• Water tank and water softener are rentals, 6 months old
• A/C was purchased in 2021
• Built in 1903
• Solid foundation, no issues with leaks or moisture
• Pavement tilts away from house
• Cosmetically outdated
• R4 zoning

Renovations Needed

• Full cosmetic renovation
• Front downspout needs to be extended away from house

We are selling our assignable purchase contract for this excellent Fix & Flip or Rental opportunity.

• Wholesale Price: $559,999 or Best Offer
• We believe that this property is worth $610,000 as-is on the MLS
• We believe that after a full cosmetic renovation this property should be worth at least $720,000 on the MLS.
• Purchase today for $50K BELOW MARKET VALUE

Comparable Analysis

• 5 Easton Street sold in January 2022 for $600,000. This detached bungalow has 2 beds, 1 bathroom and parking for two. The comparable property is on a smaller lot and is approximately 860sqft, so it is smaller than the subject property. The comparable property is slightly dated and needs a full cosmetic renovation. However the subject property is fully brick, on a larger lot and is bigger in square footage size. After adjustments, we believe in its current condition the subject property would sell for a price slightly higher than the comparable, on the MLS.
• 155 Norfolk Avenue sold in October 2021 for $727,500. This detached all brick bungalow has 3 bedrooms, 2 bathrooms, 1 detached garage, and is approximately 1005sqft, making it similar size as the subject property. The comparable property has undergone some renovations but is still dated in some parts of the home. The comparable is on a slightly smaller lot but it has a fully finished basement. After some adjustments, and a full cosmetic renovation, we believe the subject property would sell for a price slightly less than the comparable on the MLS.