Detached Bungalow in Hamilton! Assigned

  • $629,999
  • 3 beds
  • 2 baths
Assigned
Manning Avenue, Hamilton, Ontario

Offer Date: FIRST COME FIRST SERVE
Closing Date: June 28th, 2024

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

About the Property

This detached bungalow house consists of 3 bedrooms, 2 baths, and has a footprint of 1082 sqft. The property does require a full cosmetic renovation in order to maximize the ARV, however there is loads of potential with this property, including converting the basement into a legal additional dwelling unit! There is some mould in the utility room due to moisture from a past leak from the cement block. The roof was redone in 2014 and while the windows are a bit older they are still in good condition. This property is ideal for an investor looking for their next summer fix and flip or BRRR on the mountain in Hamilton.

About the Neighbourhood 

The subject property is situated in the Greeningdon neighbourhood of Hamilton. Hamilton is located west of the GTA. The subject property is located West of Upper Wellington and East of Upper James Street. The property is surrounded by countless amenities such as restaurants, Circle K. Starbucks, Tim Hortons, and many more! The subject property is a 8-minute drive from the Hamilton GO Centre providing easy transportation for commuters. There are multiple bus stops within walking distance of the subject property. Hwy 403 is a 10-minute drive away providing easy access both east towards the GTA and west towards Brantford.
Property Details
  • Detached Bungalow
  • 3 bedrooms
  • 2 bathrooms
  • 1082 sqft above grade
  • 621 sqft below grade
  • Built in 1961
  • Detached garage
  • Fridge, Stove and Washer are included in the sale
  • Finished basement
    • Separate entrance
    • Kitchen in basement
  • Some mould in the utility room
  • Roof was redone in 2014
  • Windows are about 20 years old but in good condition
    • Vinyl
  • Furnace is owned
    • 17 years old
    • Replaced blower in 2024
    • High efficiency lennox
  • A/C was purchased in 2010
  • Breaker pannel, copper wiring
  • HWT was purchased in 2016
  • Property taxes are approximately $4233
  • Lot size is 47ft x 133ft
  • C zoning

Recommended Renovations

  • Full cosmetic renovation
  • Some landscaping
  • Address the mould
  • Consider converting into a legal duplex
  • 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 and FLIP or rental opportunity.

  • Wholesale Price: $629,999
  • We believe that this property is worth $700,000 on the MLS
  • We believe that after the above renovation recommendations are completed, this property should be worth at least $890,000 on the MLS.
  • Purchase today for $70K BELOW MARKET VALUE

Comparable Analysis
  • 118 Deschene Avenue sold for $700,000 in April 2024. This comparable bungalow detached has 3 beds, 1 bath, and has a footprint of 1024 sqft. The comparable property sits on a similar lot 47ft x 133ft and is dated throughout. The comparable property was built in 1962 and unlike the subject property, it has a carport as opposed to a detached garage. Therefore, after adjustments, we believe that the subject property would sell for a price around $700,000 on the MLS in AS IS condition.
  • 18 Greeningdon Drive sold for $872,000 in March 2024. This comparable bungalow detached has 3+3 beds, 2 baths, and has a footprint of 1103 sqft. The comparable property sits on a smaller lot 42ft x 100ft and has been updated throughout with modest finishes. Unlike the subject property the comparable does not have a detached garage. Therefore, after adjustments and a full renovation, we believe that the subject property would sell for a price around $890,000 on the MLS.
  • 123 Victor Boulevard sold for $890,000 in 19 days ago. This comparable bungalow detached has 3+2 beds, 2 baths, and has a footprint of 1041 sqft. The comparable property sits on a slightly smaller lot 42ft x 123ft and has been updated throughout with modest finishes. Similar to the subject property it does have a detached garage. Therefore, after adjustments and a full renovation, we believe that the subject property would sell for a price around $890,000 on the MLS.
Price:
$629,999
Address:
Hamilton
Bedrooms:
3
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1961

Call 647-930-0291 for more details