Welland Assigned

By December 28, 2020
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $35,000 BELOW Market Value!
Closing Date: February 19, 2020

Jones Lane, Welland, ON

Cheapest single family detached property you can find in Welland! The subject property is located in the Crowland area of Welland just east of the Welland River. Situated near the property are multiple restaurants, Tim Hortons, LCBO, and Station Park. The seller already started the process of converting this property into a 2 unit duplex. This property is perfect for a beginner or experienced investor looking to take on a cheap fix and flip or great BRRR. You can’t find a detached property listed under $245k in Welland

Property Features

• 2 full storeys
• 1260 sqft above grade
• 598 sqft basement
• 2 Bedrooms, 1 Bath – Main floor
• 2 Bedrooms, 1 bath – Top floor
• 40 ft Frontage x 65.83 ft Depth
• CC2, INSH Zoning
• Furnace is owned and approximately 2 years old.
• Hot water tank is owned and about 2 years old
• Roof is outdated and needs to be replaced
• Some windows have been replaced by the seller
• 2 Breaker panels
• Seller has framed most of the upstairs to accommodate a second unit. The seller also has set up the electrical and some of the plumbing for the second unit
• Seller will be leaving materials including insulation, windows and some plumbing with the property

Renovations Needed

• Needs a full cosmetic renovation
• Stairs need to be added on the side of the house to allow access to the second unit

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

• Wholesale Price: $214,999 or Best Offer
• We believe that this property is worth $250,000 as-is on the MLS
• We believe that after a full cosmetic renovation this property should sell for at least $340,000 on the MLS
• Purchase today for $35K BELOW MARKET VALUE

Comparable Analysis

• 65 Seventh Street sold 24 days ago for $330,000. It is a detached 2 story with 3 bedrooms, 2 bathrooms and is 1,394 sqft. It sits on a 32 ft x 80 ft lot, is recently renovated inside and has an unfinished basement. We believe the subject property would sell very close to this comparable on the MLS renovated as a single family and likely more as a duplex.
• 22 Sixth Street sold 19 days ago for $315,000. Its a detached 2 story house with 1 bedroom, 2 bathrooms and is approx. 1,356 sqft. The property sits on a 30 ft x 165 ft lot and is completely outdated inside. We believe that after a full renovation of the subject property it should sell well above this comparable.