Sudbury Assigned

By August 16, 2021
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $50,000 BELOW Market Value!
Closing Date: November 2, 2021

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

Ethelbert Street, Sudbury, ON

Detached Bungalow located in the Donovan area of Sudbury. The subject property contains 3 bedrooms, 1.5 bathrooms, and a walkout basement with above 8ft ceilings. The property is situated minutes from downtown, near schools, restaurants and shops. This property has been well maintained with the roof and majority of windows updated in the past 10 years. The subject property is suitable for a beginner or experienced investor who is looking to take on a fix & flip or convert the property into a duplex with great cashflow.

Property Features

• Detached bungalow
• 3 bedrooms
• 1.5 bathrooms
• 1,160 sqft above grade
• 949 sqft finished basement (walkout with above 8ft ceilings)
• 48 ft Frontage x 100 ft Depth
• Breaker panel, copper wiring
• Electric baseboard heating
• Roof approximately 10 years old
• Windows mostly updated in past 10 years
• Built in 1950
• R2-2 Zoning
• In ground pool caved in (needs to be filled)
• 2021 Property Taxes: $3,573

Renovations Needed

• Cosmetic reno (can do minimal touch ups/paint or full cosmetic reno)
• Potential to convert the property to a duplex
• Fill in pool
• A few windows need to be changed
• Option to convert to forced air heat and add central A/C

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

• Wholesale Price: $231,000 or Best Offer
• We believe that this property is worth $280,000 as-is on the MLS
• We believe that after a cosmetic renovation this property should be worth $350,000 as a single family on the MLS and $400,000 if converted to a duplex
• Approximate rent for single family – $1900
• Approximate rent for 3+2 duplex – $1800 for main floor and $1500 for basement
• Purchase today for $50K BELOW MARKET VALUE

Comparable Analysis

• 427 Poplar Street sold in July 2021 for $449,900. It is a detached bungalow with 3+3 bedrooms, 2 bathrooms, and approximately 1232 sqft. The property is a fully renovated legal duplex. It sits on a 50 ft x 133 ft lot, and had one of the two units tenanted. We believe that the subject property would sell for approximately $400,000 on the MLS after being converted to a duplex with a full cosmetic renovation.
• 502 Ash Street sold in April 2021 for $292,500. It is a detached bungalow with 2+2 bedrooms, 1 bathroom, and 1200 sqft. The inside looks well maintained but outdated. It sits on a 50 ft x 122 ft lot and has a finished walkout basement. We believe that the subject property would sell close to this comparable on the MLS after a cleanup and a few minor touchups.