Elmira Assigned

By February 16, 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: April 12, 2021

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

Mockingbird Dr, Elmira, ON

Detached bungalow located on a quiet street in Elmira. Perfect for a fix & flip with lots of upside potential. The subject property contains 3 bedrooms, 2 bathrooms and 1 car garage. The property is situated near schools, restaurants, shops and Lion’s park. There are currently only 3 properties listed for sale in Elmira! None of which are listed under $600K!

Property Features

• Detached bungalow
• 1115 sqft above grade
• 1115 sqft basement
• 3+1 bed, 2 bath
• 50 ft Frontage x 135 ft Depth
• 1 car garage
• Above ground pool and deck in the backyard
• Furnace is owned and new
• Windows are in good condition
• Roof was replaced 6 years ago
• Hot water tank is rented
• Breaker panel
• Finished Basement (needs cosmetic updating)

Renovations Needed

• Full cosmetic renovation

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

• Wholesale Price: $599,999 or Best Offer
• We believe that this property is worth $675,000 as-is on the MLS
• We believe that after a full cosmetic renovation this property should be worth $800,000-$850,000 on the MLS
• Purchase today for $75K BELOW MARKET VALUE

Comparable Analysis

• 3 Blue Heron Court sold in August 2020 for $765,000. It is a detached bungalow with 3 bedrooms, 2 bathrooms,1 car garage and is approximately 1100 sqft. It is partly renovated inside however most of the finishes are cosmetically outdated. We believe that this property is comparable to the subject property but the finishes inside are nicer. The market has also increased since this comparable sold in August. Therefore, we believe that the subject property should be worth at least $675,000 as-is on the MLS.
• 3 Bunting Place sold 20 days ago for $857,000. It is a detached raised bungalow with 3+1 bedrooms, 2 bathrooms, 1 car garage and is approximately 1100 sqft. The outside has been updated as well the inside looks like it was cosmetically updated a few years ago. The MPAC value of this comparable is very similar to the subject property. We believe after a full cosmetic renovation of the subject an investor should be able to get at least $800,000 on the MLS and could get as high as $850,000.