Detached Bungalow in Dunnville! Assigned

About the Property

This detached house consists of 1 bedroom and 1 bathroom. It is a total of 592 sqft and was built in 1960. Since no renovations have been done by the current owner we would recommend a full cosmetic update or potentially building a new house to maximize ARV. The roof is 5 years old and the windows are 6 years old. There is no A/C and the HWT was purchased 4 years ago. The panel is on breakers and is copper wiring. Where can you find a property for $200K in the Golden Horseshoe! This property is perfect for an investor looking for a summer fix and flip, new build or Air BNB project.

About the Neighbourhood 

The subject property is situated on the south side of Dunnville near the Grand River. Dunnville is located about an hour away from major cities including, Hamilton, St. Catharines, and Brantford. Dunnville is also located near many beaches making this a perfect area for an Air BnB. Although Dunnville is a small town the subject property is located near countless amenities including, Food Basics, Rexall, LCBO, Giant Tiger, Canadian Tire, Home Hardware, restaurants, and much more. The subject property is located close to downtown and only a 3 minute drive to the Dunnville General hospital.

Property Details

• Detached House
• 1 Bedroom
• 1 Bathroom
• 592 total sqft
• No basement
• Property taxes are about $2138
• HWT Purchased 2018
• Electric Heating
• No A/C
• Breaker Panel
• Copper Wiring
• Roof was redone in 2017
• Built in 1960
• 66ft x 132ft
• D A4B Zoning

Recommended Renovations

• Full cosmetic renovation
• Seller has the option to leave contents behind so we recommend budgeting for junk removal

We are selling our assignable purchase contract for this excellent FIX and FLIP opportunity.

• Wholesale Price: $199,999 or Best Offer
• We believe that this property is worth $270,000 as-is on the MLS
• We believe that after a full cosmetic renovation this property should be worth at least $450,000 on the MLS
• Purchase today for $70K BELOW MARKET VALUE

Comparable Analysis

• 528 Main Street East sold for $271,133 in July 2021. The comparable is around the same size as the subject and consists of 1 bed1 1 bath. The comparable sits on a larger lot and also faces the grand river. Based off the description the comparable was in need of a full cosmetic renovation as well. The market is up slightly since this comparable sold last year. Therefore, we believe the subject property would sell for at least $270,000 “as-is” on the MLS.
• 136 Diltz Road sold for $520,000 in June 2022. The comparable consists of 2+1 bed 2 bath and and sits on a bigger lot size than the subject property. The comparable is bigger in size than the subject property and also comes with a garage. The comparable has been nicely renovated throughout. Even though this is a more superior property than the subject, we believe after adjustments and a full renovation the subject property should sell for at least $450,000 on the MLS.