| McKellar St, Peterborough
Offer Date: FIRST COME FIRST SERVED
Closing Date: October 16, 2025
*The buyer agree that the seller, upon giving a minimum of 14 day notice may unilaterally postpone the date set for completion one or more times for the purpose of obtaining a Certificate of appointment of estate trustee.*
*The Buyer agrees to provide a further deposit of $35,000 directly to the Seller, 2 business days after waiving all conditions in this Schedule A provided that the Sellers lawyer provides a deposit mortgage/charge in favour of the Buyer and that upon the date of registration of such charge title to the subject property is satisfactory to the Buyers lawyer acting reasonably. In the event that title is not satisfactory or the Seller cannot obtain satisfactory title insurance coverage then such deposit shall be paid to the Sellers lawyer in trust. The Seller shall pay all costs associated with the registration of the deposit mortgage. The mortgage shall not bear interest unless and until the Seller defaults on his obligations under this Agreement at which time the mortgage shall bear interest at a rate of 8%.*
*Realtors bring us a client and add your commission on top of the purchase price*
Strategies For Success
- Full Gut Renovation – This property requires some additional TLC. Bring this house back to the studs, add an in-law suite, and keep finishes modern yet basic to maximize ARV.
- Remediate black mould throughout the property
- Replace the roof, garage roof & door + repair water leaks throughout the property
- Clean up & complete landscaping – removing vines, repaving driveway, etc.
Property Overview
Property Details:
- Detached Bungalow
- 2+1 Bedrooms
- 1 full bathrooms
- 738 sqft above grade
- 738 sqft below grade, 423 sqft finished area as per MPAC
- Entrance from the back that leads to the basement
- Finished basement, 7ft ceiling throughout, 6.2ft under bulkhead
- *The basement is covered with black mould.*
- Water pipe has burst from the main stack, entire basement is wet.
- 1 car detached garage
- Garage door + roof need to be replaced
- Structure needs to be reinforced
- Built in 1947
Mechanical & Exterior
- Heat, water and gas have all been turned OFF. Water has only been turned off for a few days.
- Roof: Needs to be replaced. A leak from the roof caused the holes in the kitchen & washroom ceiling, insulation is coming out. Shingles and plywood underneath need to be replaced.
- Windows: Need to be replaced.
- Electrical: Breaker with copper wiring
- Driveway: Needs to be repaved.
- Furnace: Last tested in 2014, owned, needs to be replaced.
- AC: No AC
- HWT: Last tested in 2014, owned, needs to be replaced.
Lot & Location
- Property taxes are approx. $3,800
- 8-minute drive to HWY 7/115
- 45.01ft ft x 95.01 ft lot
- R1 zoning
Important Notes
- Budget for Junk Removal – seller has the option to leave junk behind
- There is black mould throughout the property, especially in the basement.
- Major water leaks throughout the property, however the water has now been turned off.
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| The Numbers
We are selling our assignable purchase contract for this excellent Fix & Flip or rental opportunity.
- Wholesale Price: $279,999 or Best Offer
- Based on recent comparable sales, we estimate that this property is worth $350,000 as-is on the MLS
- We believe that after the recommended renovations are completed, this property should be worth at least $560,000 on the MLS.
- Purchase today for $70K BELOW MARKET VALUE
Comparable Analysis |
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- 422 Brioux Avenue sold for $460,000 in August 2025. This comparable property is a detached, brick home with 2+2 bedrooms, 2 bathrooms and a 1 car attached garage. After reviewing the photos, only 1 full bathroom, 1 basement bedroom and additional living space is present, however the description highlights a basement in-law suite. The comparable’s sqft is similar to the subject property, with an estimate of 700-1100 sqft. The comparable sits on a 60ft x 84ft lot, similar to the subject property. The property is dated throughout, with the only renovation being the partial vinyl flooring in the basement. In comparison to the subject property, this comparable is in living condition and has a small kitchen in the basement, whereas the subject property does not. After making the appropriate adjustments, we believe the subject property would sell for $350,000 in AS-IS condition on the MLS today.
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- 621 Orpington Road sold for $564,000 only 28 days ago after 2 days on the market! This comparable has 2+2 bedrooms, 2 bathrooms, and the once carport which has been turned into a separate entrance/living space. This comparable property has been renovated throughout, with the exception of a well-kept kitchen and bathroom. This comparable showcases how a true ARV does not require high-end finishes throughout. Similar to the subject property, the comparable is 700-1100 sqft with a lot size of 45x128ft. There does not appear to be a full kitchen in the basement, but space for a hot plate and smaller appliances, making it a great in-law suite. After completing a full gut renovation & considering the subject property has a detached 1-car garage, we believe the subject property would sell for at least $560,000 on the MLS.
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- 647 Montrose Street sold for $556,000 in August after only 7 days on the market! This comparable property is 2+1 bedrooms, 2 bathrooms and has a 1 car detached garage which has been turned into a workshop. In comparison, the subject property currently has one less bathroom & a 1 car detached garage that requires some TLC. This comparable property has been majority renovated throughout, however the original flooring and carpet can be seen throughout and the basement washroom has been left untouched – another example of how a true ARV in this area does not require high-end finishes throughout. Similar to the subject property, the comparable property sits on a 42×105 ft lot and is approximately 700-1100 sqft. The comparable property does have a finished basement with a separate entrance, similar to the subject property. After completing a full gut renovation, we believe the subject property would sell for at least $560,000 on the MLS.
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| Need Financing? |
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| If You’re Interested….
Email us at info@slgpropertydeals.ca or call Sean at 647 930 0291. Sean 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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