Pefferlaw Assigned

By March 5, 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: April 1st, 2021

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

Morning Glory Road – Pefferlaw, ON

The subject property is a detached bungalow located on a large lot, backing onto a forest. The property is situated just 5 minutes from Lake Simcoe and 20 minutes from Keswick and Highway 404. The property is structurally sound with a newer sub pump and 12 year old roof. This property is suitable for a beginner or experienced investor looking to take on a fix and flip with huge upside potential. Average home prices in Georgina are up 24% since the beginning of the pandemic.

Property Features

• Detached bungalow
• 1338 sqft above grade
• 1189 sqft basement
• 3+2 Bedrooms, 1.5 Bath
• Finished basement with full ceiling height
• Lot: 100 ft Frontage x 200 ft Depth
• Breaker panel, no sign of knob and tube
• Roof is approximately 12 years old
• Windows are older
• Sub pump and Well
• Electric baseboard heating in the house
• Furnace heating in the garage
• Zoning – R

Renovations Needed

• Full cosmetic renovation
• New windows
• New garage door
• Potential to add Central A/C
• Potential to add furnace/forced air heating in the house

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

• Wholesale Price: $524,999 or Best Offer
• We believe that this property is worth $575,000 as-is on the MLS
• We believe that after completion of a full renovation this property should sell for at least $800,000 on the MLS
• Purchase today for $50K BELOW MARKET VALUE

Comparable Analysis

• 28 Klimek Blvd sold in September 2020 for $569,000. It is a detached raised bungalow with similar square footage and MPAC value to the subject property. 28 Klimek has an additional washroom, is cosmetically outdated but very well maintained and has forced air gas and central A/C. However, the subject property has an additional bedroom, brick exterior and an attached double garage. We believe that after making these adjustments and accounting for market appreciation, the subject property would sell for a similar price on the MLS in its current condition.
• 9872 Morning Glory Rd sold in September 2020 for $774,900. It is a 3 bedroom detached raised bungalow with majority siding on the exterior. It is on the same street as the subject property and has similar square footage. It is a newer home with very nice finishes, but has an unfinished basement. The subject property is all brick, sits on a larger lot and once renovated will have a finished basement with additional bedrooms. We believe that after a full renovation with similar finishes, and taking into account market appreciation since September, the subject property should sell for above $800,000 on the MLS once completed.