By January 27th, 2022
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Purchase this Property Today for $50K BELOW Market Value!
Closing Date: February 16th, 2022

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

Mill Street, Woodstock, Ontario

About the Property

This side by side legal duplex consists of one 2 bed 1 bath unit and 1 bed 1 bath unit. No renos done on this property since the sellers moved in 20 years ago so we would recommend a full gut to max out the ARV. This would include new roof, windows, kitchen, bathrooms, flooring and replacing the sump pump. There was also a leak in the living room and in the basement that was not repaired. The basement used to have a separate entrance that was closed off so you could consider adding it back. Ceiling height in basement is only 6ft.

About the Neighbourhood 

The subject property is situated in a desirable neighbourhood in Woodstock. This duplex is located minutes from downtown and Woodstock Hospital making it a good rental location. This property is situated near the Woodstock Library and is close to countless amenities such as restaurants, shops on the downtown strip, parks, Valumart, Shoppers Drugmart, Gateway Casinos Woodstock, The Home Depot, and schools. The growing city of Woodstock is conveniently located in between Kitchener and London.

Property Features

• Legal duplex
• One 2 bed 1 bath
• One 1 bed 1 bath
• 1973 sqft above grade
• 543 sqft below grade
• Roof needs to be replaced
• Windows needs to be replaced
• Unfinished basement
• Basement ceiling height is 6ft

• • Furnace is about 5 years old
• A/C will need to be replaced soon
• Hot water tank was replaced 4 years ago

• • Two Breaker Panel, copper wiring, two separate hydro meters
• Lot size 68ft x 83ft
• Built in 1950
• R1 zoning

Renovations Needed

• • Full gut required
  • Consider replacing roof, windows, A/C
• Fix the leak in the basement and living room

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

• Wholesale Price: $399,999 or Best Offer
• We believe that this property is worth $450,000 as-is on the MLS
• We believe that after a full renovation this property should be worth at least $650,000 on the MLS.
• Purchase today for $50K BELOW MARKET VALUE

Comparable Analysis

• 39 FYFE Avenue, Woodstock sold in January of 2022  for $572,537. This legal duplex requires cosmetic renovation and is smaller in size than the subject property. The comparable property consists of two 2 bed 1 bath unit and sits on a larger lot size than the subject property. After adjustments, we believe in its current condition the subject property would sell for at least $450,000 on the MLS
• 590 WALTER Street, Woodstock, sold in November 2021 for $620,000. This legal duplex was somewhat updated and consists of one 1 bed 1 bath unit and one 3 bed 1 bath unit. This comparable is also aluminium siding but is situated on a longer lot size. The comparable property is smaller in size by about 400 sqft. After a full renovation, and depending on finishes, we believe the subject property would sell for at least $650,000 on the MLS.