| Beachville Road, Beachville, Ontario
Offer Date: December 20th, 2022
Closing Date: January 30th, 2022
**Faster Closing Preferred**
About the Property
Check out this detached bungalow in Beachville, consisting of 3+1 bedrooms, and 1 bathroom. The rough ins are partially in place to add a second bathroom (awaiting plumbing for water flowing into the bathroom) and the framing in the basement bedroom is also complete. The property is about 1105 sqft and has a separate entrance to the basement through the back of the house. There is a detached garage that is in good shape but requires some TLC (currently no eaves on the roof). The basement ceiling height is around 8ft. The basement has a 10 year old sump pump and sewage system. There is an above ground pool in the back but the pump is broken and would require maintenance. This all brick property is on well and septic with no backyard neighbours! There is laminate flooring throughout the main floor and ceramic in the bathroom. The property is a smokers house as well. This property is perfect for a beginner or experienced investor looking for a quick fix and flip or adding a potential rental to their portfolio
About the Neighbourhood
The subject property is located in the small town of Beachville which is about a 10 minute drive west of Woodstock. Woodstock is located between London and Kitchener-Waterloo and about a 1.5 hour drive from Toronto. While the subject property is located in a small town it is only a short drive to many different amenities such as: Walmart, Woodstock Hospital, Canadian Tire, Tim Hortons, McDonalds, Restaurants, LCBO, Booster Juice and a lot more. Fun fact: The first officially recorded game of Baseball in North America was played in Beachville in 1838.
Property Details
- Detached bungalow
- Smokers house
- 3+1 bedrooms
- 3 bedrooms upstairs
- 1 bedroom in the basement
- 1 bathroom
- rough in in the basement to add another one
- 1105 sqft above grade
- 1105 sqft below grade
- Basement has 8ft ceiling and separate entrance
- Detached single car garage
- Windows are original
- one of the windows in the basement does not have a sill (and is at level with the driveway concrete). It has been recommended by appraisers and inspectors to put either a sill or something to block water from the window
- Roof was redone in 2007
- Furnace is owned, maintained yearly, purchased in 2012
- HWT is a rental
- A/C is owned and about 10 years old
- Sump pump put in 2012
- Property is on Well and Septic tank
- Property taxes are about $2154
- 90ft by 147ft
- Built in 1955
- Zoning: R1
Recommended Renovations
- Update the kitchen and bathroom
- Add an in law suite in the basement
- Consider redoing the windows
- Seller is taking the red washer and dryer set in the basement but is leaving a functioning white dryer. Buyer will need to add a washer
- 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 opportunity or Rental Opportunity.
- Wholesale Price: $399,999
- We believe that this property is worth $470,000 “as-is” on the MLS
- We believe that after a full renovation this property should be worth at least $580,000
- Buy now for 70K BELOW market value!
Comparable Analysis |
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- 584486 BEACHVILLE Road, Beachville sold for $472,000 in August 2022. This property is a 2 bed, 1 bath and slightly smaller in size than the subject property. The comparable sits on a bigger lot size as the subject property but comes with no basement as it is a crawl space. While the comparable has been renovated throughout it has aluminum siding as oppose to brick like the subject property. Therefore, after adjustments, we believe the subject property would sell for at least $470,000 on the MLS “as-is”.
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- 128 Delatre sold for $635,000 in October 2022. This comparable consists of 2+1 bedrooms 2 bathrooms and is similar in size as the subject property. The comparable has an attached garage that was an add on with a double wide driveway. The comparable is dated throughout and is also on septic. The MPAC for the comparable is about $50,000 more than the subject property making it more superior. Therefore, after renovations and depending on finishes, we believe the subject property would sell for at least $580,000 conservatively, on the MLS.
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- 45 Lynn Crescent is listed at $689,900 and sold conditionally. This property is a 2+2 bed, 2 bath raised bungalow and is similar in size as the subject property. The comparable has an attached garage with a double wide driveway and similar to the subject property is also brick. The comparable is dated throughout with only the bathroom somewhat updated. Therefore, after renovations, and depending what the sale price is we believe the subject property would sell for at least $580,000 on the MLS conservatively.
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| Need Financing? |
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| Looking for a construction cost estimate?
SLG Capital will manage the construction of this project from start to finish. If you’re looking for an estimate please email info@slgcapital.ca |
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| If You’re Interested….
Email us at info@slgpropertydeals.ca or call Jocelyn at 647-930-0291. Jocelyn can answer any questions you have and set up a time to view the property.
Please Do Not Go Directly to the Property
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| Disclaimer: The contents of this email are for informational purposes only. We are not home inspectors or appraisers. Please ensure you do your own due diligence. |
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