| Flagship Drive, Mississauga, Ontario
Offer Date: FIRST COME FIRST SERVE
Closing Date: May 31st, 2023
** Realtors bring us a client and add your commission on top of the purchase price**
About the Property
Check out this 3-level detached side-split home with 3+1 beds, 2 baths, and approximately 1207 sqft. This property requires a full cosmetic renovation to bring it back to its glory. The property’s foundation is sound, and has had upgraded utilities, and roof within the past 10 years saving an investor a costly upgrade. The property would benefit from some landscaping work as renovated comparable properties are showing much better once listed on the MLS. With the market heating up, and recent renovated comparable properties selling fairly quickly, there is potential for this property to be an extremely successful fix & flip.
About the Neighbourhood
The subject property is situated in the Applewood Heights neighbourhood of Mississauga. The property is located conveniently between Highway 403 and the QEW providing easy access to different points of the GTA. A bus stop is located only 2 minutes away. This property is close to countless amenities such as restaurants, Square One, Costco, Adonis, Oceans, and Sherway Gardens. Pearson International Airport is only 17 minutes away from the subject property.
Property Details
- Detached 3 level sidesplit
- 3+1 bedrooms
- 2 bathrooms
- 1207 sqft above grade
- 590 sqft below grade
- Basement is 6.5ft ceiling height
- Breaker panel, copper wiring
- Furnace is owned and from 2016
- The furnace has its own switch separate from the main breaker panel
- HWT is owned and 15 years old
- A/C is from 2017 and owned
- As per seller the roof was redone in 2014
- Windows are 20 years old
- Built-in 1959
- Property taxes are around $5144
- Lot size is 53.5ft x 126.1ft
- 1 car attached garage
- Zoning is R3
Recommended Renovations
- Full cosmetic renovation
- Consider replacing the exterior siding
- Consider redoing the driveway
- Consider updating the landscaping
- Consider updating the windows
- Seller has the option to leave junk behind so we would recommend budgeting for junk removal
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| The Numbers
We are selling our assignable purchase contract for this excellent Fix and Flip or Rental Opportunity.
- Wholesale Price: $1,189,999
- We believe that this property is worth $1,275,000 “as-is” on the MLS
- We believe that after a full cosmetic renovation this property will sell for around $1,500,000 on the MLS
- Buy now for 85K BELOW market value!
Comparable Analysis |
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- 376 Michelle Row sold for $1,360,000 in April 2023. This comparable is a 3+1 bedroom and 3 bathroom and is larger in size than the subject property. The comparable is dated throughout and sits on a smaller lot size. The comparable also lacks curb appeal and would need landscaping work done as well. The comparable is located in a less desirable area while the subject property is in Applewood Heights. The comparable has a 1.5 car garage while the subject property has a one 1 car garage. Therefore, after adjustments, we believe the subject property would sell for at least $1,275,000 on the MLS in “as is” condition.
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- 3646 Flamewood Dr sold for $1,350,000 in December 2022. This 4 bedroom 3 bathroom comparable is larger than the subject property and sits on a smaller lot size. The comparable is dated throughout and has a crawlspace in lieu of a basement. The comparable has a 1.5 car garage while the subject property has a 1 car garage. Therefore, after adjustments, we believe this property would sell for at least $1,275,000 “as-is” on the MLS
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- 914 Parthia Cres sold for $1,505,000 in April 2023, in only 3 days on the MLS! This comparable is located across the street from the subject property! The comparable property has undergone major updates on the floors above ground, specifically in the kitchen and living room. However, the basement is still in need of some updates and has painted wood paneling. The comparable consists of 3+1 bedrooms 2 bathrooms and is slightly larger in size to the subject property. Just like the subject property the comparable has a 1 car attached garage. The comparable sits on a larger lot size than the subject property. Therefore, after adjustments and assuming a full renovation (including landscaping and a basement renovation), we believe this property would sell for at least $1,500,000 on the MLS.
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| Need Financing? |
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| Looking for a construction cost estimate?
SLG Renovations will manage the construction of this project from start to finish. If you’re looking for an estimate please email info@slgrenovations.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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