By March 23, 2022
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Purchase this Property Today for $50K BELOW Market Value!
Closing Date: April 14th, 2022

**Due to COVID-19 restrictions sight unseen offers are preferred.**

Dufferin Street, Stratford, Ontario

About the Property

This 2-Storey Semi-Detached home consists of 2 bedrooms, 1 full bathroom and is approximately 732 sqft. The subject property will need upgrades to the kitchen and bathroom, and would benefit from a full cosmetic reno. The basement is currently unfinished and without a separate entrance. The roof will likely need to be replaced, however the windows are in good condition. This house is perfect for an investor looking for a fix and flip in the heart of Stratford!

About the Neighbourhood 

The subject property is situated close to the downtown core of Stratford, Ontario. Stratford is about a 45 minute drive west of Kitchener, and about an hour drive north of London. The property is nearby to countless amenities such as Foodland, Shoppers Drug Mart, Stratford General Hospital, and multiple restaurants. The property is less than a 3 minute drive to the Stratford VIA Rail Station, with connecting routes to Toronto, London, Kitchener and Hamilton. The property is about 5 minutes away from Highway 8, connecting Stratford to Kitchener.

Property Features

• 2 storey semi-detached
• 2 bedrooms
• 1 full bathroom
• 732 sqft above grade
• 366 sqft below grade
• Property taxes are about $1832
• Breaker panel
• Copper wiring
• Built in 1897
• Furnace and A/C are owned – seller unsure how old
• HWT Rental – seller unsure how old
• Roof is at least 10 years old
• Windows are a maximum of 10 years old
• Irregular lot 54 ft x 114 ft x 48 ft x 87 ft
• Access to entire backyard as attached property has the side yard
• Single driveway beside the house – room for 3 vehicles
• R2 Zoning

Recommended Renovations

• Full cosmetic update
• Renovate kitchen and bathroom
• Finish the basement
• Replace the roof
• Sellers have the option to leave contents behind so we recommend budgeting for junk removal

We are selling our assignable purchase contract for this excellent Fix & Flip opportunity.

• Wholesale Price: $359,999 or Best Offer
• We believe that this property is worth $410,000 as-is on the MLS
• We believe that after a full renovation this property should be worth at least $575,000 on the MLS.
• Purchase today for $50K BELOW MARKET VALUE

Comparable Analysis

• 9 Dufferin Street sold for $341,000 in June 2021. This 2 bedroom, 1.5 bathroom semi-detached 2 storey is approximately 700-1100 sqft and is the neighbouring house to the subject property. Although this comparable was sold last year, it was also in need of a full cosmetic upgrade, similar to the subject property. However, the comparable had a finished basement whereas the subject property’s basement is unfinished. After adjustments and taking into consideration the current prices, we believe the subject property would sell for around $410,000 as is.
• 171 Patricia Road sold for $656,000 in February 2022. This 3 bedroom, 1 bathroom semi-detached 2 storey is approximately 700-1100 sqft (as per MPAC). The subject property does have one less bedroom, but the sqft is similar. The comparable property also has a driveway that can fit approximately 3 vehicles, similar to the subject property. This comparable property does have a mix of brick and siding, whereas the subject property has all siding. Different from the subject property, this comparable has undergone a complete renovation and has a finished basement. We believe after the suggested renovations are completed, the subject property should sell for around $575-$600K.