FIX & FLIP or DUPLEX Bungalow in St Catharines! Assigned

  • $489,999
  • 5 beds
  • 2 baths
  • 1159 sqft
Assigned
Brookdale Avenue, St Catharines, Ontario

Offer Date: FIRST COME FIRST SERVE
Closing Date: January 31st, 2025

**The Buyer and Seller agree that upon giving a minimum of 15 day notice to the Buyer, the Seller may unilaterally postpone the date set for completion on or more times not to exceed 90 days in total for the purpose of obtaining a certificate of appointment of Estate Trustee.**

**Buyer to pay sellers legal fees up to $1500**

** Realtors bring us a client and add your commission on top of the purchase price**

About the Property

Looking for your next project in St Catharines? Don’t miss out on this detached bungalow consisting of 3+2 bedrooms, 2 full bathrooms with a footprint of 1159 sqft. This property sits on a large 60ft x 124ft lot and has a 1-car garage along with a carport extending off the side of the house. This property is outdated throughout and will require a full cosmetic renovation. Additionally, the property is a smoker’s house. The A/C is broken and the electric fuse panel will need to be updated. The furnace is only a year old and the roof, windows, and HWT are within 15 years saving the buyer a costly upgrade. The basement is a finished additional unit also needing a cosmetic renovation. The foundation is in great shape and there is an existing separate entrance. This property is perfect for an investor looking to start the new year with a great flip or an investor looking for a great duplex in St Catharines, minutes from Brock University.

About the Neighbourhood 

The subject property is situated in the Merritton area of St Catharines, about a 10-minute drive to Downtown St Catharines. The property is surrounded by countless amenities with grocery stores, restaurants, and bars all a short walk away. The property makes for a perfect student rental as well as Brock University, one of the largest post secondary schools in the Niagara Region is a 7 minute drive away from the subject property! There are multiple bus stops within a 10-minute walk and the St Catharines Go Station is only a 8-minute drive away providing easy transportation for commuters. St Catharines is accessible via the QEW and Highway 406 which extends Southeast to Niagara Falls and West to Hamilton.

Property Details

  • Detached bungalow
  • 3+2 beds
  • 2 full bathrooms
    • 1 upstairs & 1 downstairs
  • 1159 sqft above grade
  • 1159 sqft below grade
  • Built in 1959
  • Appliances included in as-is condition
    • 2 fridges, 2 stoves, washer, dryer
  • Finished basement apartment
    • Separate entrance through side door landing that provides access to upper and lower levels
  • A/C is owned
    • Older unit, exact age unknown
    • Not working
  • Furnace is owned
    • 1 year old as per seller
  • Hot Water tank is a rental
    • To be assumed by buyer
    • replaced in 2018 as per seller
  • Roof is 8 years old as per seller
  • Windows are 10-15 years old as per seller 
  • Electrical is on a fuse panel
    • Mix of aluminum & copper wiring
  • Detached 1 car garage
    • Attached 1 car carport on the side of the home
  • Property taxes are about $4321
  • Lot size is 60.70ft x 124.02ft
  • Zoning is R1

Recommended Renovations

  • Cosmetic renovation
  • Replace A/C
  • Update electric panel
  • The seller has the option to leave junk behind so we would recommend budgeting for junk removal in common areas
Pictures and More
The Numbers

We are selling our assignable purchase contract for this fantastic Fix & Flip or Duplex opportunity.

  • Wholesale Price: $489,999
  • We believe that this property is worth $550,000  as-is on the MLS
  • We believe after a full cosmetic renovation and depending on finishes, this property would sell for at least $700,000 on the MLS
  • Purchase today for $60K BELOW MARKET VALUE

Comparable Analysis
  • 11 Glengarry Road sold for $625,000 just 15 days ago! This comparable bungalow consists of 3 beds and 2 baths. The comparable has a similar footprint at 1130 sqft and sits on a similar 65ft x 104ft lot. Although the comparable is also outdated it is in much better condition than the subject property. Similar to the subject property the comparable has a finished basement with a separate entrance. Unlike the subject property, the comparable has no garage or carport. Additionally, the basement in the comparable is not set up as a second unit. Therefore we believe that after adjustments the subject property would sell for a price of $550,000 as-is on the MLS.
  • 7 Briarsdale Drive sold for $580,000 in Oct 2024. This comparable bungalow consists of 3 beds and 2 baths. The comparable has a similar footprint at 1186 sqft and sits on a larger 70ft x 122ft lot. Although the comparable is also outdated it presents better than the subject property. Similar to the subject property the comparable has a finished basement unit with a separate entrance. Unlike the subject property the comparable has no garage or carport. Therefore we believe that after adjustments the subject property would sell for a price of $550,000 as-is on the MLS.
  • 27 Warkdale Drive West sold for $698,000 just 6 days ago. This comparable bungalow consists of 3+1 beds and 2 baths. The comparable has a similar footprint at 1065 sqft and sits on a similar 60ft x 150ft lot. Unlike the subject property, the comparable has been partially updated throughout. Similar to the subject property the comparable has a finished basement with a separate entrance however it is not set up as a second unit. Additionally the comparable has an additional garage spot however it lacks a carport. Therefore we believe that after adjustments and a full cosmetic renovation the subject property would sell for a price of $700,000 on the MLS.
Price:
$489,999
Address:
St. Catharines
Square Feet:
1159
Bedrooms:
5
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home

Call 647-930-0291 for more details