Detached Bungalow In Guelph! Assigned

  • $424,999
  • 3 beds
  • 1 baths
Assigned

Detached Bungalow In Guelph!

***CHEAPEST BUNGALOW IN GUELPH***

Fix & Flip or Rental Opportunity

$100K BELOW Market Value!

Emslie Street, Guelph, Ontario

Offer Date: FIRST COME FIRST SERVE
Closing Date: February 4th, 2025

 

***The seller at their option may occupy the property after closing for a period until June 1, 2025 at no cost provided the vendor obtains a policy of tenant insurance in form and substance satisfactory to the purchaser. The vendor may exercise the option by written notice to the purchaser on closing date. If the vendor exercises such option then the purchaser shall hold back $110,000 due on the statement of adjustments and shall not be required to pay same to the vendors lawyer until the vender vacates the premises. The seller shall be responsible for all utility bills until vacancy. Each day the seller stays after June 1, 2025 the seller owes the buyer $1000 from the holdback amount.***

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

About the Property

Looking for your next flip or rental in Guelph? This detached bungalow is a prime opportunity for investors! With 3 bedrooms, 1 bathroom, a detached 1 car garage, and a solid 1079 sqft footprint, this property has great potential. The property sits on a lot with a frontage of 52.75 ft and a depth of 115.41 ft. The basement is unfinished with a 5.5ft-6ft ceiling height and has a stone foundation. The property is dated throughout and is a smokers house. Luckily, the roof has been updated and the electrical is on breaker- saving the buyer a costly upgrade!  This property is a great opportunity for an investor looking to finish the winter season with a fantastic flip or an investor looking for a great rental in Guelph.

About the Neighbourhood 

This property is located in the city of Guelph, which is located west of Milton. Downtown Guelph is only a 4-minute drive away providing countless amenities. There are multiple universities and colleges within a 10-minute drive. The Guelph Central GO Station is a 4-minute drive away and there are multiple bus stops within a 5-minute walk providing commuters with easy transportation.  HWY 401 is only 13 minutes away providing easy access west towards Cambridge and east towards Toronto.

Property Details

  • Detached bungalow 
  • 3 bedrooms
  • 1 full bathroom
  • 1079 sqft above grade
  • 592 sqft below grade
  • Basement is unfinished
    • 5.5ft – 6ft ceiling height as per seller
    • Separate entrance
    • Stone and rock foundation
  • Fridge, stove, washer, dryer included in as-is condition
  • Smokers house
  • Electrical panel is breaker
    • Wiring is copper
  • Furnace is rented
    • Installed in 2018
    • To be paid off by seller   
  • A/C is owned
    • Not in working condition 
    • Exact age unknown
  • Tankless water heater is rented
    • Installed in 2018
    • To be paid off by seller
  • Roof replaced within last 5 years as per seller
  • Windows are mostly original
    • Two windows updated in last 10 years as per seller
  • 1 car detached garage
  • Built in 1880
  • Lot size is 52.75ft x 115.41ft
  • Property tax around $4064
  • RL.1 Zoning

Recommended Renovations

  • Cosmetic renovation
  • Repair exterior stucco
  • Potentially update windows
  • Repair or replace A/C
  • 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 & Flip or
Buy & Hold opportunity.

  • Wholesale Price: $424,999
  • We believe that this property is worth $525,000 on the MLS
  • We believe that after a full cosmetic renovation, this property should be worth at least $650,000 on the MLS.
  • Purchase today for $100K BELOW MARKET VALUE

Comparable Analysis

  • 170 Waterloo Avenue sold for $645,500 in Nov 2024. This comparable detached bungaloft consists of 3 bedrooms, 1 bathroom, and has a larger footprint of 1312 sqft. The property sits on a smaller sized lot of 33 ft x 89 ft. The comparable has an unfinished basement similar to the subject property however unlike the subject property the comparable has no garage. Similar to the subject property the comparable is mostly outdated throughout however it has a superior brick exterior. Therefore we believe, after adjustments, the subject property would sell for a price of at least $525,000 on the MLS in AS-IS condition!
  • 39 Crimea Street sold for $570,000 in Sep 2024 after only 15 days on the market. This comparable detached bungalow consists of 3 bedrooms, 1 bathroom, and has a larger footprint of 1322 sqft. The property sits on an irregular-sized lot siding onto train tracks. The comparable has an unfinished basement similar to the subject property however unlike the subject property the comparable has a attached garage. Similar to the subject property the comparable is mostly outdated throughout however it has been better maintained and has a good condition siding exterior. Additionally the comparable has a detached workshop. Therefore we believe, after adjustments, the subject property would sell for a price of at least $525,000 on the MLS in AS-IS condition!
  • 31 Bagot Street sold for $556,000 in October 2024. This comparable detached bungalow consists of 2 bedrooms, 1 bathroom, and has a smaller footprint of 941 sqft. The property sits on a similar 50 ft x 65 ft lot. Unlike the subject property, the comparable has no garage, no basement, and lacks a third bedroom. The comparable has had some updates and presents much better than the subject property however it is still far from a true arv example. Therefore we believe, after adjustments, the subject property would sell for a price of at least $525,000 on the MLS in AS-IS condition!
  • 73 Northumberland Street sold for $812,000 in September 2024. This comparable detached bungalow consists of 2 bedrooms, 1 bathroom, and has a similar footprint of 1133 sqft. The property sits on a smaller 44 ft x 104 ft lot. Unlike the subject property, the comparable has no garage, lacks a third bedroom, and has a partially finished basement. The comparable has had updates done throughout and presents much better than the subject property. Therefore we believe, after adjustments and a cosmetic renovation the subject property would sell for a price of at least $650,000 on the MLS.
Price:
$424,999
Address:
Guelph
Bedrooms:
3
Bathrooms:
1
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1869

Call 647-930-0291 for more details