Freehold Townhouse in Oshawa! Assigned

About the Property

This discounted turnkey freehold townhouse is ready to be enjoyed by an investor or end user as no renovations need to be done inside the property. This freehold sunfilled corner lot townhouse consists of 2 bedrooms 2 bathrooms and is 1263 total sqft. There is a wrap around porch and a double wide car driveway. The property was built in 2016 and sits on a lot size of 23ft by 50ft. The furnace, A/C and HWT are all rentals and 6 years old. The seller currently pays $112 for all three a month. The roof and windows are also 6 years old and it is copper wiring on a breaker panel. An investor could easily flip this property by replacing the carpet flooring to maximize its ARV potential. The property was listed but sellers cancelled their listing before offer date because they were looking for a specific closing date. This property is ideal for an investor looking to add a rental to their portfolio or an end user looking to move in and enjoy this turnkey property.

About the Neighbourhood 

The subject property is situated in the north part of Oshawa in the Windfields neighbourhood. Oshawa is located about about an hour east of Toronto. The property is about a 5 minute drive to Highway 407 and 15 minutes to Highway 401. The Oshawa GO station is about a 20 minute drive to the property. This property is surrounded by countless amenities including FreshCo, Starbucks, LCBO, Tim Hortons, restaurants, Oshawa Zoo, this townhouse is located in a desirable area.

Property Features

• Freehold Townhouse
• 2 bedrooms
• 2 bathrooms
• 1263 total sqft
• 3 car driveway
• Property taxes are about $3796
• Breaker panel
• Copper Wiring
• Built in 2016
• Furnace, A/C and HWT are rentals and original (2016)
• Roof and windows are original (2016)
• 23ft x 50ft
• R3-A(8)/R3-B Zoning

Recommended Renovations

• Considering changing carpet but not necessary
• Seller has the option to leave contents behind so we recommend budgeting for junk removal

We are selling our assignable purchase contract for this excellent BUY and HOLD opportunity.

• Wholesale Price: $674,999 or Best Offer
• We believe that this property is worth $750,000 as-is on the MLS
• We believe that after a small cosmetic renovation this property should be worth at least $800,000 on the MLS
• Purchase today for $75K BELOW MARKET VALUE

Comparable Analysis

• 80 Nearco Crescent sold for $850,000 in March 2022. This comparable, similar to the subject property, is a freehold townhouse with 2 beds and 2 bath. The comparable was built in the same year as the subject property but is not a corner lot. The comparable has similar features on the inside. Therefore, given the recent shift in the market, we believe the subject property would sell for atleast $750,000 on the MLS, “as-is”
• 44 Nearco Crescent sold for $870,000 in March 2022. This comparable, similar to the subject property, is a freehold townhouse with 2 beds and 2 bath. The comparable also sits on a corner lot and was built in the same year as the subject property. The comparable has similar features on the inside except that it has laminate flooring as opposed to carpet. After adjustments and minor updates, we believe the subject property would sell for atleast $800,000 on the MLS, given the recent shift in the market.