Detached House in Greater Sudbury! Assigned

  • $249,999
Assigned
Laren Street, Wahnapitae

Offer Date: FIRST COME FIRST SERVE
Closing Date: December 6th, 2024
**Realtors bring us a client and add your commission on top of the purchase price**

About the Property

Checkout your next Fix & Flip or Buy & Hold project in the town of Wahnapitae! This detached brick bungalow features 3 bedrooms, 1 bathroom and has a footprint of 1081 sqft. The property also has a detached 1 car garage. The interior is relatively well-maintained, however, cosmetically dated and in need of a full renovation. The basement is unfinished and there are some leaks due to cracks in the foundation. The electrical panel is still on fuses and will require an update. The furnace and AC are both dated and will require an update, however, the HWT was recently replaced. This property is perfect for an investor looking for a fix and flip or buy and hold project! Call TODAY!

Property Details

  • Detached Bungalow
    • Brick
  • 3 bedrooms
  • 1 bathroom
  • 1081 sqft above grade
  • 1081 sqft below grade
  • Built in 1971
  • Basement is unfinished
    • Foundation cracks, some leakage
    • No separate entrance
  • Basement ceiling height about 7-8ft (buyer to verify)
  • 1 car detached garage
  • On septic system
    • Has not been cleaned in 5 years
  • Furnace is owned, replaced in late 90s
  • HWT is a rental
    • 4 years old as per seller
  • A/C is owned, replaced in late 90s
  • Roof replaced in 2017
  • Windows replaced in 2008
  • Fuse Panel
    • Copper and aluminum wiring
  • Leak in chimney
  • 1 shed on property
  • 98.60 ft x 293.85 feet (irregular, as per MPAC)
  • Property Tax around $3,068
  • Zoning R1-5

Recommended Renovations

  • Cosmetic renovation
  • Update Electrical
  • Possibly update HVAC
  • 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: $249,999
  • We believe that this property is worth $310,000  as-is on the MLS
  • We believe after a full renovation and depending on finishes, this property would sell for at least $450,000 on the MLS
  • Purchase today for $60K BELOW MARKET VALUE
Comparable Analysis
  • 832 Highway 17 East sold for $399,000 in May 2024 after 24 days on the market. This 2+1 bed, 2 bath bungalow has a similar footprint of 700-1100sqft (as per listing) and sits on an slightly larger irregular lot of 0.5-1 acres total, however similar frontage at 108 feet. The comparable property is similar to the subject in that it is well-kept throughout but dated cosmetically. The comparable property features a detached garage as well as a finished basement, but is siding exterior compared to the brick subject. We believe after adjustments, the subject property would sell for a price around $310,000 on the MLS in as is condition.
  • 291 Ray Street sold for $450,000 in May 2024 after 5 days on the market. This 3+2 bed, 2 bath bungalow has a similar footprint of 700-1100sqft (as per listing) and sits on smaller lot of 115ft x 69ft. The comparable property has had some small updates throughout and is superior in cosmetic appeal, however, we believe it would not compare to a newly updated subject property after a total transformation by you! The comparable property features a detached garage as well as finished basement, but is siding exterior compared to the brick subject. Therefore, after a full cosmetic renovation we believe the subject property would sell for a price around $450,000 on the MLS.
  • 159 Lamothe Street sold for $450,000 in March 2024 after 21 days on the market. This 3+1 bed 2 bathroom siding bungalow has a footprint of 700-1100 sqft (as per listing) and sits on a smaller lot of 60ft x 116ft. The comparable property is slightly newer than the subject, having been built in 2001, and is also recently renovated throughout. We believe contrary to the listing, the comparable appears to be smaller than the subject in square footage. The comparable property features a finished basement but does not have a garage, and is siding exterior compared to the brick subject. Therefore, we believe after a full cosmetic renovation the subject property would sell for a price around $450,000 on the MLS.
Price:
$249,999
Address:
Sudbury
Terms:
Assignment of Contract
Property Type:
Home

Call 647-930-0291 for more details