Detached House in Niagara Falls! Assigned

  • $429,999
Ker St, Niagara Falls, Ontario

Closing Date: April 26th, 2024

The Seller has the option to shorten closing to April 12th, 2024 given notice is provided to the Buyer by March 22nd, 2024. The Seller may exercise this option at his/her own discretion.

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

About the Property

Looking for a flip in Niagara Falls? Look no further, SLG has the property for YOU!

This detached 1 1/2 storey home situated near the heart of Niagara Falls is the perfect for your next fix and flip or BRRR project! The property consists of 4 bedrooms (2 on main floor, 2 upstairs), 1.5 bathrooms, and is a total of 986 sqft. There is also a separate entrance to the basement, leaving the opportunity for another unit once renovated! Additionally, the roof was replaced 2 years ago – sparing you from a wallet-draining headache! Soffits and eavestroughs were all recently replaced with debris traps. Although the windows are dated, they are still in good condition saving yet another major repair! This property is perfect for an investor looking for a quick fix and flip or BRRR. With tourist attractions just around the corner, the opportunity for this property is endless!

About the Neighbourhood 

The subject property is located in the Corwin area of Niagara Falls, just south from the memorable Lundy’s Lane! The major intersection is Drummond and Lundy’s Lane. The property is walking distance from the Lundy’s Lane Battlefield Park, as well as Coronation Park, with many local shops & restaurants nearby. 5 minute drive away from the heart & major tourist attraction of Niagara Falls, Clifton Hill, and 8 minute drive to the Fallsview Trail. The infamous outlet malls, Outlet Collection at Niagara & Canada One, are located within an 11 minute drive from the property! The property is a 10 minute drive to the Niagara Falls Bus Terminal, with connecting GO Buses & Trains all the way to Toronto (Union Station). The property is also a 5 minute drive from the QEW ramp, making accessibility quick and convenient! 

Property Details

  • Detached House
  • 4 bedrooms
    • MPAC listed as 2 bedrooms, however seller made an additional 2 bedrooms on the main floor, along with 2 upstairs
  • 1 full bathroom
  • 1 powder room in basement
    • Small step would need to be removed to increase ceiling height, as currently it is approx. 5 ft
  • 1 Car Detached Garage
    • Garage roof replaced 2 years ago
  • 986 sqft above grade
    • MPAC classifies this property as a 1 storey, however, it does not account for the 1/2 storey addition upstairs. This square footage is unaccounted for in the MPAC.
  • 986 sqft below grade
  • Basement Ceiling Height is around 6.5ft
    • 6ft under bulkhead
  • Separate entrance into the basement from below the deck
  • Property taxes are about $2544
  • Electrical panel updated in 2007, all breakers and copper wiring
  • Built in 1910
  • Furnace is from 2006, working condition
  • A/C is from 2006, owned
  • HWT is from 2006, owned
  • Water softener installed about 10 years ago
  • Roof is 2 years old
  • Refinished the deck in the backyard
  • Replaced soffits and eavestrough with debris traps
  • Windows are dated (+10 years old), however in decent condition
  • 50ft x 110ft
  • R1E Zoning

Recommended Renovations

  • Full cosmetic renovation
  • 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 opportunity.

  • Wholesale Price: $429,999
  • We believe that this property is worth $480,000 on the MLS
  • We believe that after a full cosmetic renovation and the addition of a second unit, this property should be worth at least $580,000 on the MLS.
  • Purchase today for $50K BELOW MARKET VALUE

Comparable Analysis

  • 6041 North Street sold for $545,000 in November 2023 after 28 days on the market. This 2+1 bed, 2 bathroom property sits on a 28ft x 343ft lot and is approximately 980sqft. Cosmetically the property’s main floor is in decent condition, however the basement is extremely dated and would require a full renovation. Different than the subject property, the comparable sits on a larger lot, has finished basement and is a bungalow opposed to the subject, being a 1 1/2 storey. We believe given the differences stated, the subject property is worth $480,000 as-is on the MLS today.
  • 5802 North Street N sold for $465,000 in December 2023 after 7 days on the market. This 3 bed, 2 bath property is a detached 1 1/2 storey, similar to the subject property, without a garage. As per the listing, the property was sold tenanted. The property is also cosmetically dated and would require a full renovation. Although this comparable is similar to the subject property, given the tenant in the comparable, we believe the subject property would be worth $480,000 on the MLS.
  • 5689 Mouland Ave sold for $590,000 in December 2023. This detached 1 1/2 storey consists of 3+1 bedrooms, 3 bathrooms and a detached 1 car garage. This comparable was beautifully renovated from top to bottom, leaving no repairs or additional work to be done. Granted the subject property is slightly smaller in size in comparison, we believe if fully renovated, the subject property would sell for slightly less than the comparable, around $580,000.
Niagara Falls
Assignment of Contract
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Call 647-930-0291 for more details