Detached House in Niagara Falls! Assigned

  • $384,999
Assigned
Glamis Crescent, Niagara Falls, Ontario

Offer Date: FIRST COME FIRST SERVE
Closing Date: November 12th, 2024

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

About the Property

Opportunity knocks with this detached 1.5-storey home in Niagara Falls! Featuring 3 bedrooms, 1 bath, and 961 sqft of space, this property is ready for transformation. Though it needs a full clean-out and cosmetic renovation, imagine the potential it holds! Set on a generous 70ft x 128ft lot, complete with an attached 1-car garage that is connected by a  breezeway, there’s room to make this your dream project. The unfinished basement with its separate entrance offers even more upside. Perfect for investors seeking a profitable fix-and-flip or a buy-and-hold in a prime location. Act fast—CALL NOW to seize this amazing opportunity!

About the Neighbourhood 

The subject property is located west of the Hydro Canal and north of Lundy’s Lane in the heart of Niagara Falls. The property is surrounded by countless amenities such as restaurants, Canada One Outlets, schools, parks and many more! The subject property is a 5-minute drive from the QEW providing easy access westbound towards Hamilton and southbound towards Fort Erie. There are multiple bus stops within walking distance of the subject property.

Property Details
  • Detached 1.5 Storey House
  • 3 bedrooms
    • 2 bedrooms upstairs
    • 1 bedroom on main floor
  • 1 bath
  • 961 sqft above grade
  • 610 sqft below grade
  • Unfinished basement
    • Separate entrance through breezeway
    • 7-8ft ceiling height
  • Roof replaced 2019 as per seller
    • shingles in good condition, eaves look like they need to be replaced
  • Windows were redone 30 years ago as per seller
    • In need of replacement
  • 1 car attached garage
  • Breaker panel
    • Copper Wiring
  • Furnace
    • 7 year old
    • Rental to be paid off by seller as per APS
  • A/C replaced 32 years ago
    • Owned, in good working condition as per seller, buyer to verify
  • HWT
    • Rental, around 8 years old as per seller
  • Back deck requires touch ups
  • Exterior siding requires touch ups
  • Built-in 1949
  • Property taxes are approximately $2769
  • Lot size is 70 ft x 128 ft
  • R1D zoning 

Recommended Renovations

  • Full cosmetic renovation
  • Consider replacing A/C
  • Replace eavestrough
  • Consider adding a second bath
  • Some exterior work
  • The seller has the option to leave junk behind so we would recommend budgeting for junk removal
Pictures and More
The Numbers

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

  • Wholesale Price: $384,999
  • We believe that this property is worth $445,000 on the MLS
  • We believe that after the above renovation recommendations are completed, this property should be worth at least $600,000 on the MLS.
  • Purchase today for $60K BELOW MARKET VALUE

Comparable Analysis

  • 5701 Strathmore Crescent sold for $455,000 in July 2024 after only 23 days on the market! This comparable detached house has 3 beds, 1 baths, no garage, and a slightly smaller footprint of 876 sqft. The comparable property sits on a smaller lot size of 56ft x 150ft. The comparable property is in better condition than the subject but still completely dated throughout and would require a similar cosmetic renovation. Therefore, after adjustments, we believe that the subject property would sell for a price around $445,000 on the MLS in AS IS condition.
  • 6370 Leeming Street sold for $465,000 after only 7 days on the market! This comparable detached house has only 2 beds, 1 bath, no garage and has a slightly larger footprint of 1090 sqft. The comparable property sits on a similar lot of 80ft x 120ft. The comparable property is in better condition than the subject once again, however, would still require a cosmetic update as well as finishing off the basement. Therefore, after a full renovation and assuming a finished basement, we believe the subject property would sell for $600,000 on the MLS.
  • 6484 Ash Street sold for $583,000 in June 2024. This comparable detached house has 3 beds, 3 baths, no garage and has a slightly larger footprint of 1100 sqft. The comparable property sits on a much smaller lot size of 40ft x 120ft. The comparable property is in better condition than the subject property and, although it is more recently renovated, in our opinion it features modest finishes. Therefore, after a full renovation and assuming a finished basement and added bath, we believe the property would sell for $600,000 on the MLS.
Price:
$384,999
Address:
Niagara Falls
Terms:
Assignment of Contract
Property Type:
Home

Call 647-930-0291 for more details