Detached House in Port Colborne! Assigned

  • $324,999
  • 4 beds
  • 2 baths

Cheapest Detached Property Available in Port Colborne!

Detached House in Port Colborne!

Fix and Flip or Rental Opportunity

$60K BELOW Market Value!

Wallace Avenue

Wallace Avenue, Port Colborne, Ontario

Closing Date: May 1st, 2023
*The seller has the right to extend closing to May 31st 2023 given they provide notice by April 14th 2023*

About the Property

Check out this 2 storey detached house consisting of 4 bedrooms and 2 bathrooms. The property requires a full renovation to bring it back to its glory. It is a smokers and hoarders house and smells of urine throughout. The ceiling in the main area is ripped up due to an old leak. The leak has been repaired but the drywall needs to be added. Although we were unable to go into the basement, we did get pictures and can confirm that there is a sump pump, and weeping tile throughout. This property is perfect for a beginner or experienced investor looking for a fix and flip or BRRR project.

About the Neighbourhood 

The subject property is situated in the North part of Port Colborne. Port Colborne is situated in the South part of Ontario and close to other cities such as Niagara Falls, Fort Erie, and St Catharines to name a few. Port Colborne is about an hour away from Hamilton and about a 30 minute drive to the QEW. Port Colborne is close to many beaches making this area attractive for a short term rental or cottage getaway!

Property Details

  • 2 Storey Detached
  • 3+1 bedrooms
    • 3 bedrooms in the upper floor
    • 1 bedroom on the main floor
  • 2 bathrooms
    • 1 full bathroom
    • 1 half bathroom
  • 1275 squarefeet above grade
  • 277 squarefeet below grade
  • Full basement
    • Sump pump
    • 5ft3 ceiling heights
  • Roof and Windows are 6 years old as per seller
  • Smokers House
  • Electric baseboard heating
  • No A/C
  • HWT is owned
  • Breaker panel and copper wiring
  • Property taxes are about $2946
  • Built in 1917
  • Lot size 50ft x 152ft
  • Zoning is R2

Recommended Renovations

  • Full cosmetic renovation
  • Fresh coat of paint
  • 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: $324,999
  • We believe that this property is worth $385,000 “as-is” on the MLS
  • We believe that after a cosmetic renovation this property should be worth at least $475,000
  • Buy now for 60K BELOW market value!

Comparable Analysis

  • 184 Knoll Street sold for $405,000 in January 2023. This 1.5 storey detached house consists of 3 bedrooms 1 bathroom and while its better maintained than the subject property it is still dated throughout. The comparable sits on a smaller lot size and is only a 1.5 storey as opposed to a 2 storey detached house.  After adjustments, we believe the subject property would sell for around $385,000 in “as is” condition.
  • 272 Charlotte Street sold for $450,000 in January 2023. The comparable property is a 2 storey detached that consists of 3 bedrooms 2 bathrooms and is mostly dated throughout. Some parts of the comparable home have been updated and it’s similar in size as the subject property. The comparable sits on a smaller lot size but it presents a nicer curb appeal. Therefore after a full renovation, and depending on finishes, we believe the subject property would sell for a price around $475,000.
  • 86 Erie Street sold for $460,000 in December 2022. The comparable property is a 2 storey detached that consists of 4 bedrooms 2 bathrooms. The comparable property has been decently renovated throughout but part of the ceiling is missing in the laundry room The comparable is larger in size than the subject property and sits on a slightly larger lot size. Therefore after a full renovation, and depending on finishes, we believe the subject property would sell for a price around $475,000.
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Need Financing?
Looking for a construction cost estimate?

SLG Capital will manage the construction of this project from start to finish. If you’re looking for an estimate please email

If You’re Interested….

Email us at or call Jocelyn at 647-930-0291. Jocelyn can answer any questions you have and set up a time to view the property.


Please Do Not Go Directly to the Property


Disclaimer: The contents of this email are for informational purposes only. We are not home inspectors or appraisers. Please ensure you do your own due diligence.
Port Colborne
Assignment of Contract
Property Type:
Year Built:

Call 647-930-0291 for more details