| 1775 Valley Farm Road, Pickering, Ontario
Offer Date: November 14th, 2022
Closing Date: November 28th, 2022
About the Property
Check out this townhouse in Pickering consisting of 3 bedrooms and 2 full bathrooms. The property is a perfect flip or buy and hold for a novice investor as the flooring was recently redone and kitchen only requires a lipstick update. While the kitchen may look a bit dated it is only a paint job away from looking like a brand new kitchen! Backsplash was redone in the kitchen and the property was recently painted. We would recommend redoing the bathrooms to maximize ARV. The property is currently owner occupied and will come vacant! The maintenance fees are $143 a month and this covers landscaping, snow removal, and garbage. This property would be perfect for a beginner or experienced investor looking to get their hands on a QUICK Fix and Flip or rental opportunity! ACT FAST as closing is only a couple of weeks away!
About the Neighbourhood
The subject property is located in a desirable neighbourhood of Pickering. This property is perfectly located as it’s right around the corner of Pickering Town Centre. Amenities are all within a 5 minute drive, including independent grocery stores, Restaurants, Gas stations, Grocery Stores and much more! Pickering is located less than an hour away from Downtown Toronto and close to other major cities including Oshawa, Scarborough, Ajax and others. What makes this property stand out is the location to the lake. It is about a 15 minute drive to a number of different beaches making it a great area for a rental or to move in and enjoy as an end user.
Property Details
- Freehold Townhouse 2 Storrey
- 3 bedrooms
- 2 bathroom
- 990 sqft above grade
- 475 sqft below grade
- Property taxes are about $3568
- A/C owned and purchased in 2013
- Furnace and HWT are both rentals and less than 6 years old
- Roof was redone in 2019
- 1 car attached garage
- Windows were redone in 2013
- Breaker Panel, copper wiring
- Built in 2004
- 20 ft x 38 ft
Recommended Renovations
- Paint kitchen cabinets and consider upgrading the appliances
- Redo the bathrooms
- Redo the flooring on stairs
- Seller has the option to leave contents behind so we recommend budgeting for junk removal
|
|
| The Numbers
We are selling our assignable purchase contract for this excellent FIX and FLIP opportunity.
- Wholesale Price: $524,999 or Best Offer
- We believe that this property is worth $615,000 as-is on the MLS
- We believe that after a minor renovation this property should be worth at least $665,000 at minimum on the MLS
- We believe that after a full renovation this property should be worth at least $700,000 at minimum on the MLS
- Looking back at 2019 comparables (last sale of this units layout), this block of townhomes traded about 3-5% less than the comparables above
- Therefore we believe that the subject property, once fully renovated, should sell for a price 5% less than a renovated 3 storey townhouse in the same complex
- Purchase today for $90K BELOW MARKET VALUE!!
Comparable Analysis |
|
 |
- 71–1775 Valley Farm Road sold for $699,990 in November 2022. This 3 bedroom, 2 bathroom property is in the same complex as the subject property! The comparable is slightly larger than the subject property and better maintained but still dated in some rooms. The comparable has an entrance from the street and also has one through the garage. The layout of the comparable is different as it’s a 3 storey as oppose to a 2 storey and the top floor has the master bedroom with ensuite. The subject property does not have an ensuite for its master bedroom. Unlike the subject property, the comparable has a small backyard. Therefore, after adjustments, we believe the subject property would sell for a price of at least $615,000 “as-is” on the MLS.
|
|
 |
- 99–1775 Valley Farm Road sold for $733,000 in October 2022. This 3 bedroom, 2 bathroom property is in the same complex as the subject property! The layout of the comparable is different as it’s a 3 storey as oppose to a 2 storey and the top floor has the master bedroom with ensuite. The comparable is slightly larger than the subject property and has had some renovations done throughout the home with modest finishes. After a full renovation, and depending on finishes, we believe the subject property would sell for a price around $700,000.
|
|
| Need Financing? |
 |
|
| Looking for a construction cost estimate?
SLG Capital will manage the construction of this project from start to finish. If you’re looking for an estimate please email info@slgcapital.ca |
|
| If You’re Interested….
Email us at info@slgpropertydeals.ca or call Jocelyn at 647-930-0291. Jocelyn can answer any questions you have and set up a time to view the property.
Please Do Not Go Directly to the Property
|
|
|
| Disclaimer: The contents of this email are for informational purposes only. We are not home inspectors or appraisers. Please ensure you do your own due diligence. |
|
|
|
