Sudbury Assigned

By May 21, 2021
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $40,000 BELOW Market Value!

Closing Date: September 13, 2021

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

Hawthorne Drive – Sudbury, ON

The subject property is a detached bungalow with 3+2 bedrooms 2 bathrooms and is approx. 1,305 sqft above grade. It is located in the Barrydowne neighbourhood which is in one of the nicest areas in Sudbury. The property is situated near amenities, parks and schools. The property has been well maintained and only requires minor cosmetic renovations on the main floor. With a separate entrance and lots of basement height there is potential for an investor to convert the basement into a legal secondary suite. The property is suitable for a beginner or experienced investor looking for a great fix & flip or BRRR opportunity in Sudbury.

Property Features

• Detached bungalow
• 1305 sqft above grade
• 869 sqft basement
• 3+2 bedrooms
• 2 bathrooms
• Separate entrance
• Basement is finished with 7 ft – 8 ft ceiling height
• Pool in the backyard (seller put new liner about a year ago)
• Lot: 60 ft Frontage x 125 ft Depth
• Roof is older likely needs new shingles
• All windows are new except one in the bathroom
• New rental boiler system (seller will buy out on closing)
• Zoning – R1-5
• Built in 1959

Renovations Needed

• Light cosmetic renovation on main floor
• New roof
• Convert basement into legal secondary unit

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 $390,000 as-is on the MLS
• We believe that after renovation, it should sell or refinance for $450,000 – $475,000
• Purchase today for $40K BELOW MARKET VALUE

Comparable Analysis

• 880 Danforth Ave sold in May 2021 for $425,000. It is a detached bungalow with 3+1 bedrooms, 2 bathrooms, 1 car attached garage and is 1,240 sqft. The inside is well maintained but cosmetically outdated. It sits on a 50 foot x 125 foot lot and has the same MPAC value as the subject property. In comparison to the subject property this comparable is identical except it has a garage. Therefore after adjusting for the garage we believe the subject property should be worth approximately $390,000 as-is on the MLS.
• 896 Brookfield st sold in April 2021 for $501,100. It is a fully renovated detached bungalow with 3+1 bedrooms, 2 bathrooms, 1 detached garage and is approximately 1,068 sqft. The inside and outside have been completely renovated. It sits on a 50 ft x 150 ft lot and has a slightly lower MPAC value than the subject property. We believe that after a full cosmetic renovation of the subject property and adding a secondary suite in the basement, the subject should be worth between $450,000 – $475,000.