Detached Bungalow in Ingersoll!
Fix & Flip or Rental Opportunity

$55K BELOW Market Value 

King Street East

By March 4th, 2022
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $55K BELOW Market Value!
Closing Date: March 31st, 2022

**Due to COVID-19 restrictions sight unseen offers are preferred.**

King Street East, Ingersoll, Ontario

About the Property

This detached bungalow is roughly 1300 sqft and consists of 3 bedrooms 1 bath. The property is in move in condition if you are looking to rent it out. This property does not have a garage but the driveway is big enough for 6 cars. The roof was updated in 2021 but the rest of the house could use a cosmetic facelift. The kitchen and bathroom are original. This house is perfect for an investor looking for a project to fix and flip or hold as a rental.

About the Neighbourhood 

The subject property is situated in a good neighbourhood in Ingersoll. The property is located close to downtown and the Hospital. This property is close to countless amenities such as restaurants, Canadian Tire, Tim Hortons, Dollarama, LCBO, Shoppers Drug Mart, Giant Tiger and schools. Ingersoll is conveniently located between Kitchener-Waterloo and London right off of the 401.

Property Features

• Detached bungalow
• 3 bedrooms
• 1 bathroom
• 6 parking spots
• 1323 sqft above grade
• 969 sqft below grade
• Property taxes $2515
• Breaker panel
• Copper wiring
• Built in 1850
• No A/C, has wall unit
• Furnace is original, owned
• HWT owned
• Stone foundation
• 66ft x 110ft lot size
• 6ft basement ceiling height
• R1 zoning

Recommended Renovations

• Full cosmetic renovation
• Consider replacing the windows

We are selling our assignable purchase contract for this excellent Fix & Flip or Rental opportunity.

• Wholesale Price: $419,999 or Best Offer
• We believe that this property is worth $475,000 as-is on the MLS
• We believe that after a full renovation this property should be worth at least $600,000 on the MLS.
• Purchase today for $55K BELOW MARKET VALUE

Comparable Analysis

• 1 Duke Street sold for $450,000 in December 2021. This 2 bedroom 1 bath bungalow is smaller in size than the subject property and sits on a smaller lot.  The comparable is outdated and also requires a cosmetic facelift. The subject has 3 bedrooms and a higher MPAC value than the comparable. Therefore, we believe the subject property is worth at least $475,000 on the MLS.
• 266 King Street sold for $652,700 in February 2022. This 2 bedroom 1 bath bungalow has been fully renovated but is smaller in size than the subject property. The comparable sits on a slightly larger lot size and comes with a detached garage. After adjustments, and depending on finishes we believe our property would sell for at least $600,000 on the MLS.