Detached Bungalow in Cambridge Assigned

  • $349,900
  • 3 beds
  • 2 baths
  • 941 sqft
Assigned
Wholesale Price of $349,900 or Best Offer!
By November 6th, 2019
167 Park Avenue, Cambridge, Ontario

Purchase Today For $349,900!

Closing: December 16, 2019
Sellers have the option to remain in the property until January 2nd

Detached, Bungalow on a quiet street in Cambridge, Ontario. Located near Schools, Parks, Highway 401 and Conestoga College.

Structurally sound, and offered at a discounted price to market value. This property includes a separate entrance with a basement apartment. Kitchen and 1 bedroom already in the basement with space for a second bedroom. This is a perfect opportunity for a Duplex Conversion FLIP or BRRR (Buy, Renovate, Rent, Refinance)

We estimate the As-Is Value on the MLS to be between $385,000 – $400,000
And the ARV to be in the range of
$520,000 – $550,000

Click Here for Pictures and Comparables:

https://www.dropbox.com/sh/nnu6l5tqial1qxu/AAB6uBuTpwNbPcsYYyV7DHmXa?dl=0
Property Features:
  • Bungalow – All Brick Exterior
  • 3+1 Bedroom, 2 Bathroom
  • 40 x 125 ft Approximate Lot Size
  • 941 Square Feet plus Basement
  • Separate Entrance to Finished Basement
  • In-Law Suite – Kitchen, Bedroom, Full Bath
  • 1 Car Detached Garage
  • Large Backyard backs onto Railroad
  • House is Dated – Full Cosmetic Renovation Needed
  • Roof Requires Repairs
  • Fuse Panel – 200 Amp
  • No Structural Issues
The Numbers:
  • As Is MLS Value of $385,000 – $400,000
  • After Repair Value of $520,000 – $550,000
  • $75,000 – $90,000 Estimated Renovation
  • Our Price + Assignment Fee: $349,900
  • More than $35,000 under market value
  • Fix and Flip for Great Immediate PROFIT or Renovate and Refinance to pull your money out and still CASHFLOW!
Comparables

38 Broadview Avenue – Bungalow of similar size with same number of bedrooms, bathrooms and kitchens. A smaller lot and no garage. Also not renovated but in better condition. Sold $55,000 above asking for $455,000.

217 Park Avenue – Bungalow of similar size on a smaller lot with no garage and does not have full brick exterior. Also has an In-Law Suite and same number of bedrooms, bathrooms and kitchens. Sold for $386,000 in December of 2018. Prices are up over 2% in Cambridge since then.

Next Steps….

If you are interested, email us at info@belviewrealestate.ca or call Sal at 416-993-5279. Sal can answer any questions you have and set up a time to view the property.

Please Do Not Go Directly to the Property

We will be scheduling one time for all viewings. Afterwards, we will take the best offer. Please give us a call if you are interested or have any questions.
Price:
$349,900
Address:
Cambridge, ON
Square Feet:
941
Lot Size:
40x125
Bedrooms:
3
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home
Basement:
Finished

Call 647-930-0291 for more details