Peterborough Assigned

By October 6th, 2021
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $50,000 BELOW Market Value!
Closing Date: October 29th, 2021

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

McGill Street, Peterborough, ON

2 Storey Detached located in the Crawford’s Grove neighbourhood of Peterborough. The property is situated on a quiet street near RA Morrow Memorial Park, schools, community centres, Walmart, Sobeys and other amenities. It is also down the street from the famous Peterborough Memorial Centre, home of the Peterborough Petes. The property is approximately 5 minutes from the Peterborough Go bus terminal, with routes extending to Oshawa. Peterborough is also easily accessible to Highway 407 via Highway 115. The subject property contains 3 bedrooms, 1 bathroom, and is approximately 1315 sqft. The roof, windows and exterior siding are in great condition and recently replaced. The subject property is suitable for a beginner or experienced investor who is looking for a Fix & Flip or Rental opportunity.

Property Features

• 2 storey detached
• 3 bedrooms
• 1 bathroom
• Single detached garage
• 1315 sqft above grade
• 577 sqft basement
• Unfinished basement, ceiling height approximately 6ft
• Breaker panel, no knob and tube
• Furnace 3 years old
• Hot water tank approximately 5 years old
• No central AC
• Majority of roof redone, small patch has to be repaired
• Windows in great condition
• Built in 1915
• Cosmetically outdated
• R1 zoning

Renovations Needed

• Full cosmetic renovation
• Side patch of the roof needs to be redone
• Garage door and some siding needs to be replaced

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 cosmetic renovation this property should be worth at least $600,000 on the MLS.
• Purchase today for $50K BELOW MARKET VALUE

Comparable Analysis

• 284 King George Street sold in July 2021 for $500,000. It is a 2 Storey Detached with 3 bedrooms, 1 bathroom, and approximately 1600 sqft. The inside of the property is very outdated and requires a cosmetic renovation. In comparison to the subject property, it is similarly outdated but better maintained. It is also slightly larger than the subject property, has a brick exterior and does not back onto a commercial property.  However, the subject property has hardwood flooring throughout the house, rather than areas of carpet. Also, the subject property has a garage. We believe that the subject property would sell at a price slightly less to this comparable in its current condition on the MLS.
• 439 Edison Ave sold in May 2021 for $590,000. It is a 1.5 Storey Detached with 3 bedrooms, 2 bathrooms, an unfinished basement and is approximately 1400 sqft. The inside of the property is fully although modestly renovated (older hardwood flooring, ceiling tile, older appliances, and carpet upstairs). The comparable has a brick exterior and does not back onto a commercial property. However, it is a 1.5 storey rather than a full 2 storey, and it does not have a garage. We believe, after making these adjustments, that after a full renovation with superior finishes the subject property would sell for a price higher than the comparable on the MLS.