| Exeter Avenue, Welland
Offer Date: FIRST COME FIRST SERVE
Closing Date: August 15, 2024
*The Buyer agrees to pay the sellers legal fees up to $1500.00
About the Property
Looking for your next investment property in Welland? Look no further, SLG has the deal for YOU! This detached 1.5 storey has incredible potential but is in dire need of some renovations in order to bring it back to life! The 1875 sqft property has one large master bedroom upstairs with the option to be converted back to two bedrooms, three bedrooms on the main floor and one full bathroom. It sits on a large, reverse pie lot and has a crawl space basement. Additionally, the property has a detached garage which is perfect for a car or storage.
About the Neighbourhood
The subject property is situated on the south side of Welland near Plymouth Park. Welland is about a 20 minute drive south of St. Catharine’s and about a 50 minute drive to the Buffalo border. The subject property is close to countless amenities such as restaurants, Shoppers Drug Mart, Tim Hortons, FreshCo, and schools. The subject property is also only a 2 minute drive to the Welland County General Hospital.
Property Details
- Detached 1.5 storey house
- 4 bedrooms
- 1 bathroom
- 1 car detached garage
- Crawl space basement
- 1875 sqft above grade
- Roof and fascia are 20+ years old and need to be redone
- Windows replaced by owned over 4-5 year period
- Back extension done to kitchen by previous owner
- Some subfloor may need to be replaced
- HWT is a rental and around 10 years old as per seller
- Furnace is owned and 12 years old as per seller
- AC needs to be serviced/fixed
- Electrical is 100 amp breaker with copper wiring
- A few leaks due to the roof that have since been patched as per seller
- Property taxes are about $2319
- Built in 1941
- Lot size is 15ft x 154ft
- RL1 Zoning
Recommended Renovations
- Cosmetic renovation
- Replace roof on house and garage
- Service/fix AC
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| The Numbers
We are selling our assignable purchase contract for this excellent FIX and FLIP or BRRR opportunity.
- Wholesale Price: $289,999
- We believe that this property is worth $350,000 on the MLS
- We believe that after a FULL renovation is completed this property should be worth at least $500,000 on the MLS.
- Purchase today for $60K BELOW MARKET VALUE
Comparable Analysis |
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- 38 Mcnaughton Road sold for $469,000 just 12 days ago. This comparable consists of a smaller 3 bedrooms, 1 bath and a 1.5 car detached garage. This property is smaller in sqft at only 1270, and has a smaller lot. The comparable does have some updates, however the finishes are mediocre. Therefore, after adjustments, we believe the subject property is worth at least $350,000 in “as-is” condition.
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- 127 Dover Road sold for $414,500 just 17 days ago. This comparable consists of a smaller 3 bedrooms, 1 bath, and is much smaller in size than the subject property. The comparable property also does not have a garage. The comparable also sits on a smaller lot size. Therefore, after adjustments, we believe the subject property is worth at least $500,000 on MLS after a full cosmetic renovation.
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- 88 Nelles Road sold for $490,000 in April 2024. The comparable property features 4 bedrooms, 2 bathrooms and a 1.5 car detached garage. This comparable is much smaller at only 700-1100 sqft, and also sits on a smaller lot. The comparable is completely renovated throughout however the finishes are mediocre. Therefore, after adjustments, we believe the subject property will sell for at least $500,000 on the MLS after a full cosmetic renovation.
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| Need Financing? |
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| Looking for a construction cost estimate?
SLG Contracting will manage the construction of this project from start to finish. If you’re looking for an estimate please email info@slgcontracting.ca
View our past projects here |
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| If You’re Interested….
Email us at info@slgpropertydeals.ca 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
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| 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. |
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