By November 12th, 2021
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $60K BELOW Market Value!
Closing Date: January 28th, 2021
The Seller may extend the closing date one time for up to 28 days provided they give the Buyer 20 days notice.

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

Emma Street, Guelph, Ontario

About the Property

This Detached Bungalow home contains 2 bedrooms, 2 bathroom and is 988 sqft. The main floor of the property was fully renovated in the past 7 years. The property requires a minor renovation in the main floor bedroom as well as finishing the basement. The property is suited for a beginner or experienced investor looking for a Fix & Flip or Duplex Opportunity in the booming city of Guelph.

About the Neighbourhood 

The subject property is situated in the Riverside Park area of Guelph, 5 minutes north of Downtown. The property is within walking distance of countless amenities, including Food Basics, Wal Mart, restaurants, banks and parks. The property is situated near the Guelph Central Station, with bus and train routes extending to Toronto, Kitchener, and Mississauga. The property is also very close to Highway 6 which extends to Highway 401, making it easy to come in and out of the city.

Property Features

• Detached Bungalow
• 2 bedrooms
• 2 bathroom
• 70ft x 112ft lot size
• 988 sqft above grade
• 988 sqft basement, partially finished
• Separate entrance to basement
• 7ft ceiling height in basement, 6ft 2in height at bulkhead (measured by seller)
• Breaker panel, copper wiring
• Furnace 12 years old, maintained yearly
• Water Tank 4 years old
• Central A/C 12 years old
• Unpaved driveway
• Built in 1958
• R1B zoning

Renovations Needed

• Minor renovation in bedroom (insulation, drywall)
• Finish basement
• Windows

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

• Wholesale Price: $699,999 or Best Offer
• We believe that this property is worth $760,000 as-is on the MLS
• We believe that after finishing the basement this property should be worth at least $815,000 on the MLS. If converted to a duplex, the property should be worth $850,000 or more.
• Purchase today for $60K BELOW MARKET VALUE

Comparable Analysis

• 41 Philip Avenue sold in August 2021 for $765,000. The property has 3 bedrooms, 1 bathroom, 1 detached garage and is approximately 1000 sqft. The property was on the MLS market for 12 days before selling. In comparison to the subject property, the basement is unfinished and has a separate entrance. However, the subject property has undergone a recent renovation on the main floor and is in better condition cosmetically than the comparable property, specifically the flooring, kitchen and bathroom. Also, the comparable has an extra bedroom upstairs, and does not sit on a corner lot on a major street. After making some adjustments, we believe that the subject property, in its current condition would sell for a price similar to the comparable on the MLS.
• 36 Paul Avenue sold in September 2021 for $890,000. The comparable has 3+2 bedrooms and 2 bathrooms and is approximately 965sqft. In comparison to the subject property, it has an extra bedroom and a finished basement. However, the main floor of the property is similarly renovated and both properties have been very well maintained. The comparable also has a separate entrance to the basement. However, the comparable property is not on a major street, and is not on a corner lot. After making some adjustments, and finishing the basement, we believe that the subject property will sell for a price slightly lower than the comparable, on the MLS.