Detached House in Oshawa! Assigned

  • $559,999
  • 3 beds
  • 1 baths
  • 1000 sqft
Assigned

Detached House in Oshawa! 

Fix and Flip or Duplex Opportunity

$65K BELOW Market Value!

Gliddon Avenue

Gliddon Avenue, Oshawa, Ontario

Offer Date: FIRST COME FIRST SERVE
Closing Date: November 22nd, 2024

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

About the Property

Check out this detached bungalow in Oshawa! Featuring 3 bedrooms, 1 full bathroom, and 980 sqft of above-ground living space. The interior is outdated throughout however it’s in good condition. The property sits on a 39ft x 148ft lot and has an unfinished basement. There is a separate side entrance providing direct access to the basement. The electrical is on fuse and the wiring is aluminum. Additionally, the windows are original and the HWT and appliances have been removed by previous tenants. The furnace was updated in 2020 and the roof is in good condition saving the buyer a costly upgrade. Finishing the basement with a kitchen and full bathroom would create second-unit potential. This property is perfect for investors seeking a great winter fix-and-flip or investors looking for a great buy-and-hold opportunity in Oshawa.

About the Neighbourhood 

The subject property is located in the Donevan neighborhood of Oshawa. Oshawa is located east of Toronto. There is a bus stop within a 7-minute walk and the Oshawa Go station is a 10-minute drive away providing easy transportation for commuters. HWY 401 is 6 minute drive away providing easy access west toward Toronto and east towards Bowmanville.

Property Details
  • Detached Bungalow
  • 3 bedrooms
  • 1 full bathroom
  • 980 sqft above grade
  • 1018 sqft below grade
  • No appliances included
  • Unfinished basement
    • Separate side entrance
    • 7ft – 8ft ceiling height as per seller
  • Roof replaced 15 years ago as per seller
    • In good condition
  • Windows are original as per seller
  • No garage
    • Shed located in the rear
  • Fuse panel
    • Aluminum wiring buyer to verify
  • Furnace is owned
    • Installed in 2020
  • No A/C
  • No HWT
  • Built-in 1962
  • Property taxes are approximately $4238
  • Lot size is 39ft x 148.66ft
  • R2 zoning

Recommended Renovations

  • Cosmetic renovation
  • Possibly update windows
  • Install HWT
  • Update electric panel
  • The seller has the option to leave junk behind so we would recommend budgeting for junk removal. Luckily the property has already been cleared so it is ready for renovations!
Pictures and More
The Numbers

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

  • Wholesale Price: $559,999
  • We believe that this property is worth $625,000 on the MLS
  • We believe that after the above renovation recommendations are completed, this property should be worth at least $795,000 on the MLS.
  • Purchase today for $65K BELOW MARKET VALUE

Comparable Analysis

  • 70 Central Park Blvd S sold for $600,000 just 29 days ago after only 10 days on the market! This comparable detached house consists of 3+2 bedrooms, 2 bathrooms and has a slightly larger footprint of 1285 sqft. The comparable sits on a similar 43ft x 119ft lot. Based on the listing description it can be assumed that the property was in rough condition, as there were no listing pictures and inspections were recommended. Similar to the subject property the comparable has no garage and has a side entrance leading to the basement. The comparable was situated on a main street as well whereas the subject property is tucked away in a subdivision. Therefore, after adjustments, we believe that the subject property would sell for a price of around $625,000 on the MLS in AS-IS condition.
  • 209 Chadburn Street sold for $665,000 in September 2024 after only 6 days on the market! This comparable detached house consists of 3 bedrooms, 2 bathrooms and has a similar footprint of approximately 700-1100 sqft. The comparable sits on a larger 46ft x 128ft lot. Cosmetically the property is outdated similar to the subject property and has a side entrance leading to the basement. Unlike the subject property, the basement in the comparable is partially finished providing one additional bathroom and there is a one car carport. Therefore, after adjustments, we believe that the subject property would sell for a price of around $625,000 on the MLS in AS-IS condition.
  • 259 Baldwin Street sold for $825,000 in October 2024 after 44 days on the MLS. The property consists of 3+3 bedrooms 2 bathrooms and has a 1.5 car detached garage at the back of the property. The property has a separate entrance and a 3 bedroom apartment in the basement ready to rent from day 1! Given this however it is clear the property could use some updating as there are areas in the house that do look worn. We believe after adjustments and a full renovation (and inclusion of a basement apartment), the property would sell for a price around $795,000.
  • 464 Byron Court sold for $870,000 in September 2024. This comparable detached house consists of 3+2 bedrooms, 2 bathrooms and has a larger footprint of approximately 1100-1500 sqft. The comparable sits on a much larger 65ft x 120ft lot. Cosmetically the property has been updated throughout unlike the subject property. Unlike the subject property, the basement in the comparable is finished providing a second unit with two bedrooms and one bathroom. Therefore, after adjustments and a full renovation, we believe the property would sell for $795,000 on the MLS.
Price:
$559,999
Address:
Oshawa, ON
Square Feet:
1000
Bedrooms:
3
Bathrooms:
1
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1962

Call 647-930-0291 for more details