| Ballard Street, Oshawa, Ontario
Offer Date: September 21st, 2022
Closing Date: October 31st, 2022
**The rented furnace will be bought out by the seller on closing**
About the Property
Check out this quaint detached bungalow in need of a full cosmetic renovation to bring it back to life! The property is located in Oshawa and consists of 2+1 bedrooms and 1 bathroom. There is potential to add another bathroom in the basement as there are currently rough-ins in place. There is a side entrance leading to the basement with 7″ft ceiling height! The basement is drop ceiling and it is all wood panelling in the bedroom in the basement. As you can see, this structurally sound property has a ton of potential and would benefit from a FULL cosmetic renovation! This property is perfect for an investor looking for a fall fix and flip project or BRRR opportunity.
About the Neighbourhood
The subject property is situated in the Lakeview neighbourhood of Oshawa and is located about a 2 minute drive South of the 401. Highway 401 connects Oshawa with other major cities in Southern Ontario such as Toronto and Bowmanville. Durham College is only a 15 minute drive away from the property. There are countless amenities near the subject property including Tim Hortons, Pharmacy, Shoppers Drug Mart, LCBO, restaurants, schools, and much more. The subject property is also only a 10 minute drive to the Oshawa Regional Hospital.
Property Details
- Detached Bungalow
- 2+1 bedrooms
- 1 bathroom
- 815 total sqft
- Separate entrace
- Basement height about 7ft
- Property taxes are about $2962
- A/C is owned and purchased in 2015
- Furnace and HWT are both rentals and put in in 2015
- Roof was redone in 2020
- Roof on the shed needs to be replaced
- Windows are dated and over 15 years old
- Breaker Panel, copper wiring
- Built in 1920
- 45ft x 130ft
- R5-B Zoning
Recommended Renovations
- Full Cosmetic Renovation
- Consider updating the window
- Consider adding another unit in the basement
- Seller has the option to leave contents behind so we recommend budgeting for junk removal if you’re moving into the property
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| The Numbers
We are selling our assignable purchase contract for this excellent FIX and FLIP opportunity.
- Wholesale Price: $369,999 or Best Offer
- We believe that this property is worth $430,000 as-is on the MLS
- We believe that after a full cosmetic renovation this property should be worth at least $590,000 on the MLS
- Purchase today for $60K BELOW MARKET VALUE!!
Comparable Analysis |
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- 452 Montrave Avenue sold for $430,000 in August 2022. This comparable consists of 2 beds 1 bath and is similar in size as the subect property. The comparable sits on a similar lot size and it appears to not have a separate entrance to the basement. The comparable is also dated throughout. Therefore, after adjustments, we believe the subject property should sell for at least $430,000 “as-is” on the MLS
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- 207 Greenwood Avenue sold for $505,000 in August 2022. This comparable consists of 2 beds 2 baths and sits on a similar lot size. The comparable is similar in size and completely dated throughout. The comparable sits on a similar lot size and has a finished basement. Therefore, after adjustments, we believe the subject property should sell for at least $430,000 “as-is” on the MLS
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- 734 Daniel Street sold for $580,000 in September 2022. This comparable consists of 2 beds 1 bath and is slightly bigger than the subject property. The comparable sits on a similar lot size and is dated throughout with no separate entrance to the unfinished basement. Therefore, after adjustments, we believe the subject property should sell for at least $430,000 “as-is” on the MLS
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- 94 Thomas Street sold for $615,000 in August 2022. This comparable consists of 2+1 beds 2 bath and is similar in size as the subject property. The comparable sits on a similar lot size and also has a separate entrance to a finished basement. The comparable has been nicely renovated throughout. Therefore, after a full cosmetic renovation, and depending on finishes, we believe the subject property should sell for at least $590,000 on the MLS.
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| Need Financing? |
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| Looking for a construction cost estimate?
SLG Capital will manage the construction of this project from start to finish. If you’re looking for an estimate please email info@slgcapital.ca |
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| If You’re Interested….
Email us at info@slgpropertydeals.ca or call Jocelyn at 647-930-0291. Jocelyn can answer any questions you have and set up a time to view the property.
Please Do Not Go Directly to the Property
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| Disclaimer: The contents of this email are for informational purposes only. We are not home inspectors or appraisers. Please ensure you do your own due diligence. |
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