By October 25th, 2021
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $40K BELOW Market Value!
Closing Date: November 30, 2021

**Due to COVID-19 restrictions sight unseen offers are preferred.**

Grass Avenue, St Catharines Ontario

About the Property

This 1.5 Storey Detached home contains 4 bedrooms, 1 bathroom and is approximately 1029 sqft. The roof and windows are in great condition, along with the exterior siding. The subject property is suitable for a beginner or experienced investor who is looking for a quick cosmetic Fix & Flip or Rental opportunity in the growing city of St. Catharines.

About the Neighbourhood 

The subject property is located in the Haig neighbourhood of St Catharines, Ontario. It is situated in a friendly neighbourhood, minutes away from Zehrs, restaurants, Carol Disher Dog Park, schools and other amenities. It is perfectly located north of the Downtown core, with easy access to the QEW and Highway 406. The subject property is also minutes from the St Catharines GO bus terminal, with routes extending to Hamilton, Niagara Falls and Toronto.

Property Features

• 1.5 Storey Detached
• 4 bedrooms
• 1 bathroom
• 1029 sqft above grade
• Crawl space basement
• 100 amp breaker panel, copper wiring
• Furnace 20 years old, service and repairs done in 2020
• Central A/C 20 years old
• Roof and Windows in good condition
• Gravel driveway
• Built in 1941
• Cosmetically outdated
• R2 zoning

Renovations Needed

• Full cosmetic renovation
• Possibly add a paved driveway, currently gravel

We are selling our assignable purchase contract for this excellent Fix & Flip or Rental opportunity.

• Wholesale Price: $409,999 or Best Offer
• We believe that this property is worth $450,000 as-is on the MLS
• We believe that after a full cosmetic renovation this property should be worth at least $550,000 on the MLS.
• Purchase today for $40K BELOW MARKET VALUE

Comparable Analysis

• 11 Margery Ave sold in September 2021 for $453,000. It is a 2 Storey detached home, in the Haig community of St Catharines.  The comparable property has 3 bedrooms and 1.5 bathrooms and is approximately 1000 sqft. Cosmetically the comparable is similarly outdated to the subject property. Rather than carpet however, the comparable property has a cheaper laminate floor throughout the house. The kitchen also has a similar dated ceramic flooring, as well as dated finishes. The comparable property has a renovated bathroom. However, the subject property has an extra bedroom. We believe in its current condition; the subject property will sell for a price similar to the comparable on the MLS.
• 19 Shakespeare Avenue sold in July 2021 for $476,000. It is a 1.5 Storey detached home, in the Haig community of St Catharines. The comparable property has 3 bedrooms, 1 bathroom and is approximately 1140 sqft. In comparison to the subject property, the comparable is similarly outdated but better maintained. Only the bathroom has been renovated. However, the kitchen, bedrooms are both similarly outdated, with the latter having carpet as well. Also, the comparable has one less bedroom than the subject property. After making these adjustments we believe that in its current condition; the subject property would sell at a price slightly lower than the comparable on the MLS.
• 97 Grass Avenue sold in October 2021 for $525,000. It is a 1.5 Storey detached home on the same street as the subject property. The comparable property has 3 bedrooms, 1 bathroom and is 1125 sqft. The property underwent modest renovations on the main floor, as hardwood flooring and pot-lights were added. However the kitchen and bathroom are still quite out dated and the second floor is carpeted. Neither property has a garage, however the comparable does have a paved driveway, rather than gravel. The subject property has one extra bedroom. After making these adjustments, we believe that after a full cosmetic renovation, the subject property would sell for a higher price than the comparable on the MLS.