| Karen Court, Orangeville, ON
Offer Date: FIRST COME FIRST SERVE
Closing Date: September 1st, 2023
** Realtors bring us a client and add your commission on top of the purchase price**
About the Property
Looking for a quick flip within 1 hour of the GTA? Look no further. This freehold townhouse consists of 3 beds, 1 bathroom and 1 attached garage. The property sits on a 20ft x 104ft lot and is approximately 1108sqft. Cosmetically the property could use some updates, specifically the flooring throughout, kitchen, basement and bathroom. However, the roof and windows were redone in 2018 saving a buyer a costly job! The furnace is a rental however it will be paid off in full on closing by the seller. The electrical is fuses and would need to be updated as well. This property would be perfect for a buyer looking to start off Fall with a Home Run flip!
About the Neighbourhood
The property is located in Orangeville, approximately 1 hour north of Toronto. Orangeville is located off of Hurontario St and Hwy 9, north west of Brampton. With constant growth, Orangeville has become a great residential area as well as a great area for families leaving the GTA. This property is located perfectly close to all amenities including restaurants, schools, shops etc. Orangeville also is home to many factories and warehouses, keeping employment very high. Orangeville is fantastic transit wise as well, with GO bus routes extending to Brampton connecting it west to Kitchener, east to Toronto.
Property Details
- Freehold Townhouse
- 3 bedrooms
- 1 bathroom
- 1108 sqft above grade
- 508 sqft below grade
- Built in 1978
- Fridge and stove are included
- Active leak in kitchen coming from upstairs bathroom
- seller believes that leak is due to caulking issue around bathtub in upstairs bathroom
- Fuse panel, copper wiring
- unfinished basement
- approximately 7.5ft ceiling height
- Furnace replaced in 2015
- rental that will be bought out on closing
- A/C replaced in 2015, needs repairs to coil
- HWT 10 years old
- rental to be assumed by Buyer
- Roof redone in 2018
- Windows replaced in 2018
- Single car attached garage
- Property taxes are approximately $3300
- Lot size is 20ft x 104ft
- Zoning R5
Recommended Renovations
- Cosmetic renovation
- Update electrical to breaker panel
- Fix coil in the A/C unit
- Fix active leak in the kitchen and patch up drywall on the ceiling
- The 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 opportunity.
- Wholesale Price: $519,999
- We believe that this property is worth $585,000 as-is on the MLS
- We believe that after a full cosmetic renovation this property should be worth at least $700,000 on the MLS.
- Purchase today for $65K BELOW MARKET VALUE
Comparable Analysis |
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- 34 Dawson Road sold for $646,400 in June 2023 after 6 DOM! The comparable consists of 3 beds, 2 bathrooms 1 garage and is approximately 1100-1500sqft. The comparable is an end unit townhouse, with extra lot frontage spanning 31ft x 120ft. Cosmetically the property is extremely dated, and would benefit from a cosmetic renovation. The comparable has carpeting throughout, a dated kitchen and bathroom and dated basement as well. We believe after adjustments accounting for the comparable being an end unit and slightly larger footprint, but similar cosmetic condition, the subject property would sell for a price around $585,000 on the MLS.
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- 20 Burbank Cres sold for $689,000 in May 2023, after 3 DOM! The comparable property consists of 3 beds 2 bathrooms and is approximately 700-1100sqft as per the listing. It sits on a similar 20ft x 102ft lot and has an attached garage similar to the subject property. Cosmetically, the property has undergone tasteful renovations however is still far from full ARV. The property could use some updates in the basement as well as a fresh coat of paint upstairs. The comparable does have an extra 3pc bathroom in the basement which we would recommend adding for maximum ARV. After completing a full renovation, including the addition of a 3pc bathroom in the basement, we believe the subject property would sell for a price around $700,000.
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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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