St. Catharines Assigned

By February 9, 2021
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $30,000 BELOW Market Value!
Closing Date: February 26, 2021

Gale Cres, St. Catharines ON

Detached bungalow with basement apartment perfect for a fix & flip or BRRR. The subject property contains a 2 bed, 1 bath unit upstairs and a 1 bed, 1 bath unit in the basement. Situated near the property is the St. Catharines Golf & Country club, Tim Hortons, LCBO, retail restaurants and more.

Property Features

• Detached bungalow
• 1015 sqft above grade
• 1015 sqft basement
• Upper level: 2 bed, 1 bath
• Lower level: 1 bed, 1 bath
• 35 ft Frontage x 91 ft Depth
• R3 Zoning
• Side entrance
• Shared laundry
• Furnace is owned and approximately 14 years old.
• Hot water tank is rented and about 10 years old
• Half of the roof was replaced in 2017, the other half is older however shows little signs of wear
• Windows are in good shape
• 2 separate breaker panels

Renovations Needed

• Full cosmetic renovation

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

• Wholesale Price: $349,999 or Best Offer
• We believe that this property is worth $380,000 as-is on the MLS
• We believe that after a full cosmetic renovation this property should be worth $500,000 on the MLS
• Purchase today for $30K BELOW MARKET VALUE

Comparable Analysis

• 42 Gale cres sold in December 2020 for $405,000. It is a detached bungalow with 3+1 bedrooms, 2 bathrooms, 1 car garage and is approximately 998 sqft. It is unrenovated inside like the subject property and only has 1 kitchen. We believe this comparable is very similar to the subject property with the exception that it has a garage. Discounting for the fact that the subject property does not have a garage we believe the as-is MLS value is $380,000.
• 29 Division st sold in October 2020 for $375,000. It is a detached 2 storey with 3+1 bedrooms, 2 bathrooms, no garage and is approximately 1,200 sqft. It is unrenovated inside but operates as 2 separate units. We believe that the subject property would sell very close to this comparable as-is on the MLS.
• 44 Woodland ave sold in January 2021 for $520,000. It is a detached bungalow with 3 bedrooms, 2 bathrooms, 2 car garage and is approximately 1,100 sqft. The main floor has been fullly renovated however the basement is unfinished. After a full cosmetic renovation of the subject property we believe that an investor should be able to get very close to this value on the MLS