Welland Assigned

By August 23, 2020
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $35,000 BELOW Market Value!
Closing Date: October 13, 2020

Fourth Street, Welland, ON

Single family detached property on a large lot with amazing long term potential! The subject property is located in the Crowland area of Welland just east of the Welland River. Situated near the property are multiple restaurants, Tim Hortons, LCBO, and Station Park. This property is suitable for an experienced investor willing to take on a large renovation with the potential for a large upside. You currently can’t find a property listed in Welland for under $200k and there is only one property listed for under $250k!

Property Features

• 2 full storeys
• 1355 sqft above grade
• 774 sqft basement
• 4 Bedrooms, 1.5 Baths
• Lot Size: 32 ft Frontage x 122 ft Depth
• 1 car detached garage
• Furnace is owned and approximately 10 years old.
• Hot water tank is rented and about 10 years old
• Roof replaced about 7 years ago
• Most windows replaced about 10 years ago
• Visible knob and tube which is not connected according to the seller
• Breaker panel
• Old boiler system still in the basement but disconnected
• One galvanized pipe left to replace in the house
• Foundation issues along one side of the house has caused water to come into the basement in the past

Renovations Needed

• Needs a full cosmetic renovation
• Possible foundation work or waterproofing likely required along one side of the house

We are selling our assignable purchase contract for this excellent FIX & FLIP opportunity.

• Wholesale Price: $199,000 or Best Offer
• We believe that this property is worth $235,000 as-is on the MLS
• We believe that after a substantial renovation this property should sell for at least $350,000 on the MLS
• Purchase today for $35K BELOW MARKET VALUE

Comparable Analysis

• 83 Sixth Street sold in February 2020 for $340,000. It has 3 bedrooms, 1 bathroom, 1 detached garage and is approx. 1,100 sqft. The property has been fully renovated (except for the basement) and sits on a much smaller lot compared to the subject. Given the lack of inventory in the immediate area, we believe that after a full renovation of the subject property (including the basement) an investor should be able to sell for at least $350K on the MLS