Detached Bungalow in St. Catharines! Assigned

  • $339,999
  • 1 baths
Assigned
Shakespeare Avenue, St. Catharines, Ontario

Closing Date: September 16th, 2024

***SELLER HAS OPTION TO EXTEND CLOSING TO SEPTEMBER 30TH,2024 IF NOTICE IS PROVIDED BY SEPTEMBER 9TH,2024***

About the Property

Looking for your next SLG fix & flip or buy and hold in St. Catharines? Check out this detached bungalow consisting of 3 bedrooms and 1 bathroom. This property has a footprint of 1014 sqft and is dated throughout.  The electrical has already been updated to breaker and the wiring is copper saving the buyer a costly job. There is a small leak coming into the basement from the chimney. As per the seller, the chimney was assessed by a professional and it was determined that a new cap would fix the leak. Additionally, the windows and roof are outdated and will need to be updated. The bathroom has a nontraditional configuration as the seller had relocated the bathroom into the third bedroom and converted the existing bathroom into a laundry room. The basement is unfinished with a 6.5ft ceiling height. This property is great for an investor looking to start the fall season with a fantastic flip or an investor looking for a great rental property in St. Catharines.

Property Details

  • Detached bungalow
  • Corner Lot
  • 3 bedrooms
    • 1 den also on the main floor
  • 1 bathroom
  • 1014 sqft above grade
  • 609 sqft below grade
  • Basement is unfinished
    • ceiling height around 6ft – 6.5ft
  • Appliances included in AS-IS condition
    • Fridge, stove, washer, dryer
  • Property taxes are about $2659
  • Furnace is owned
    • Installed in 2000 as per seller
  • A/C is owned
    • Installed in 2000 as per seller
  • HWT is rented
    •  Approximately 5 years old as per seller (buyer to verify)
  • Roof was last redone in 2009
  • Exact age of windows unknown
    • Pre 2007
  • Electrical is on a breaker panel
    • Copper wiring
  • No garage
  • Driveway accessible from Alice Street
  • Built-in 1941
  • Lot size: 50ft x 108.27ft
  • R2 zoning

Recommended Renovations

  • Full cosmetic renovation
  • Revert laundry room back into a bathroom and move washer/dryer to basement or master bedroom
  • Replace chimney cap
  • Seller has the option to leave contents behind so we recommend budgeting for junk removal
Pictures and More
The Numbers

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

  • Wholesale Price: $339,999
  • We believe that this property is worth $400,000
  • We believe that after a cosmetic renovation this property would sell for $535,000 on the MLS
  • Buy now for 60K BELOW market value!

Comparable Analysis
  • 125 Haig Street sold for $435,000 in July 2024. This detached 1.5 storey consists of 3 beds, 1 bath, and has a similar footprint of 1150 sqft as per the listing. The property sits on a similar 50ft x 150ft lot and is more dated than the subject property. Unlike the subject property, the basement in the comparable is finished. Additionally the comparable has a detached 1 car garage unlike the subject property. Therefore after adjustments we believe that the subject property would sell for a price of $400,000 in AS-IS condition.
  • 168 Welland Avenue sold for $387,000 just 10 days ago! This 3 bed 1 bath bungalow sits on a smaller 31ft x 108ft lot and has a similar footprint of 1165 sqft. The comparable is outdated throughout and would require a full renovation. However it backs onto an apartment building, and is located on a main street, whereas the subject property is located in a neighbourhood. Additionally the comparable has a stone foundation while the subject property has a block foundation which provides potential to finish the basement for additional living space. Similar to the subject property the comparable has no garage and an unfinished basement. Therefore after adjustments we believe that the subject property would sell for a price of $400,000 in AS-IS condition.
  • 205 York Street sold for $535,000 just 27 days ago! This 2+1 bed 1 bath 1.5 storey house sits on a smaller 35ft x 100ft lot and has a smaller footprint of 830 sqft. The comparable has had some updates done throughout with some modest finishes. Additionally the comparable has a finished basement and a detached 1 car garage unlike the subject property. The comparable has one less upper-level bedroom than the subject property but does have a basement bedroom. Therefore after adjustments and a full renovation, we believe that the subject property would sell for a price of $535,000 on the MLS.
Price:
$339,999
Address:
St Catharines
Bathrooms:
1
Terms:
Assignment of Contract
Property Type:
Home

Call 647-930-0291 for more details