Detached Home in Guelph! Assigned

  • $614,999
  • 3 beds
  • 2 baths
Assigned
Koch Drive, Guelph

Offer Date: FIRST COME FIRST SERVE
Closing Date: October 31st 2024

***BUYER TO PAY $20,000 DEPOSIT TO SELLER IN ADDITION TO THE DEPOSIT TO SLG***

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

About the Property

Check out this detached 2-storey home in Guelph backing onto greenspace. This home is in need of a full cosmetic renovation in order to unlock its true potential! The property consists of 3 bedrooms, 2 bathrooms, and has a footprint of 1252 sqft. The basement is unfinished and there is an attached 1-car garage. The roof has just been updated this year and the electrical panel has already been updated to breaker saving the buyer a costly job. The windows are original and will ideally need to be updated. There is a noticeable animal urine smell and the backyard will require some landscaping as there are some overgrown tress and bushes. This property is perfect for an investor looking to end the year with a great flip or an investor looking for a fantastic rental in Guelph.

Property Details

  • Detached 2 storey home
  • 3 bedrooms
  • 2 bathrooms
    • 1 full bath, 1 powder
  • Appliances included in as-is condition
    • Fridge, stove, washer, dryer
  • 1252 sqft above ground
  • 589 sqft below ground
  • Cat Urine smell in the house, specifically in the upstairs bedrooms
  • Built-in 1988
  • Basement is unfinished
    • No separate entrance
    • Around 8ft ceiling height as per seller
  • Attached 1 car garage
  • Breaker panel
    • Wiring is copper as per seller
  • Furnace is owned
    • 5-6 years old
  • A/C is owned
    • 25 years old
  • HWT is a rental
    • Exact age unknown
  • Roof was redone this year as per seller
  • Windows are older
    • Exact age unknown
  • Property taxes are approximately $4191
  • Lot size is 30.02ft x 114.52ft
    • Lot is slightly irregular
  • Zoning is R.1D

Recommended Renovations

  • Full cosmetic renovation
  • Possibly update windows
  • Possibly landscape backyard
  • Seller has the option to leave junk 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 Buy & Hold opportunity.

  • Wholesale Price: $614,999
  • We believe that this property is worth $700,000 as-is on the MLS
  • We believe after a cosmetic renovation and depending on finishes, this property would sell for at least $865,000 on the MLS
  • Purchase today for $85K BELOW MARKET VALUE
Comparable Analysis
  • 8 Reid Court sold for $700,000 in August 2024. This comparable consists of 3+2 bedrooms, 2 bathrooms, and has a similar footprint of 1278 sqft. The comparable is outdated similar to the subject property however it does have a partially finished basement with two bedrooms, unlike the subject property. The comparable sits on a similar 28ft x 100ft lot but the driveway is unpaved. The comparable backs onto greenspace similar to the subject property. Therefore after adjustments, we believe the subject property would sell for a price of $700,000 on the MLS in as-is condition.
  • 34 Brazolot Drive sold for $890,000 in August 2024. This comparable consists of 3 bedrooms, 3 bathrooms, and has a larger footprint to that of the subject property at 1552 sqft. The comparable is mostly updated throughout and has a finished basement, unlike the subject property. Additionally the comparable sits on a larger 55ft x 105ft lot however it does not back onto greenspace. Similar to the subject property the comparable has a 1 car garage. Therefore after adjustments and a full renovation, we believe the subject property would sell for a price of $865,000 on the MLS.
  • 109 Doyle Drive sold for $870,000 in August 2024. This comparable consists of 3+1 bedrooms, 3 bathrooms and has a similar footprint to that of the subject property at 1265 sqft. The comparable is newer than the subject property and has had some updates done throughout but is still not a true ARV example. The comparable sits on a similar 29ft x 106ft lot and has a finished basement apartment with a separate entrance. Therefore after adjustments and a full renovation, we believe the subject property would sell for a price of $865,000 on the MLS.
Price:
$614,999
Address:
Guelph, ON
Bedrooms:
3
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home

Call 647-930-0291 for more details