Guelph Assigned

By June 23, 2021
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $75,000 BELOW Market Value!

Closing Date: August 3rd, 2021

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

Law Drive – Guelph, ON

The subject property is a Detached 2 storey located in the desirable Grange Hill East neighbourhood in Guelph. The property is situated on a quiet street near amenities, parks and schools with easy access to Downtown Guelph, the University of Guelph, Highway 7, Highway 6 and the Go Train. This property is structurally sound and well maintained, with updated electrical and a steel roof. This property is suitable for a beginner or experienced investor looking to take on a cosmetic fix and flip or wholetail.

Property Features

• Detached 2 storey
• 1427 sqft above grade
• 706 sqft basement
• 3 Bedrooms, 1.5 Bath
• Finished walk out basement with full ceiling height
• Lot: 32 ft Frontage x 120 ft Depth
• Breaker panel, copper wiring
• New steel roof
• New concrete driveway and garage door
• Furnace is 20 years old (owned)
• A/C 20 years old (owned)
• Hot Water Tank also owned
• Zoning – R2
• Built in 1999

Renovations Needed

• Full cosmetic reno
• Potential to add basement apartment
• Potential to do minor touch ups and re list the property on the MLS for a quick wholetail flip

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

• Wholesale Price: $649,999 or Best Offer
• We believe that this property is worth $725,000 as-is on the MLS
• We believe that after a full cosmetic renovation, it should sell for $850,000 or more on the MLS depending on the finishes
• Purchase today for $75K BELOW MARKET VALUE

Comparable Analysis

• 61 Buckthorn sold in April 2021 for $727,000. It is also a detached 2 storey with 3 bedrooms and 1.5 bathrooms. In comparison to the subject property, it has a newer Furnace and A/C and looks better maintained. However, the subject property is larger, has a larger lot and higher MPAC, includes a walkout basement and a new steel roof and garage door. We believe that after making these adjustments, the subject property would sell for a similar price on the MLS in its current condition.
• 51 Hill Trail sold in April 2021 for $805,000. It is also a detached 2 storey with 3 bedrooms, has a slightly smaller lot and the exact same MPAC value as the subject. This property has a newly renovated basement, an additional bathroom and a 1.5 car garage. However the main floor and upstairs are outdated, similar to the subject property. We believe an investor could do a very minor cosmetic reno, add a bathroom in the basement and sell for close to this price on the MLS.
• 9 Cedarvale Avenue sold in March 2021 for $853,000. It is a 3+1 bedroom, 2 storey detached with 2.5 bathrooms. This property has been very modestly renovated (kitchen and washrooms outdated), and also includes a 1 bedroom apartment in the basement. This property is very similar to the subject property in terms of size, lot, layout and walkout basement. We believe that after a full cosmetic renovation and/or the inclusion of a basement apartment, the subject property should sell for at least $850,000 on the MLS, if not more.
• 517 Starwood Drive sold in May 2021 for $925,000. It is also a 3 bedroom, 2 storey detached with a single car garage. This property has been fully, although modestly, renovated (mainly carpet, modest kitchen and washroom). The property sits on a similar lot to the subject property, although it is slightly larger and has a higher MPAC. However the subject property does have a walk out basement and steel roof. We believe that after a full cosmetic renovation with superior finishes, an investor could expect to sell for close to $900,000 on the MLS.