Semi Detached 2-Storey in Hamilton! Assigned

  • $369,999
Assigned
Alanson Street, Hamilton, Ontario

Closing Date: January 15th, 2025

The Seller has the option to shorten closing to January 3 2025 given notice is provided by December 5 2024 or extend to January 31 2025 given notice is provided by January 2 2025.

About the Property

With 2024 winding down, why not start off January by securing a home run deal in Hamilton, set up perfectly to hit the spring market! This Semi Detached 2 storey consists of 4 beds, 1 full bathroom and is approximately 1571 sqft. The subject property sits on a 19.20ft x 130ft lot and backs onto train tracks along the escarpment. However with the depth of the property the house is a bit of a distance away from the tracks. The property does not have parking or a garage however street parking is available through the city. The property is in need of a full cosmetic renovation including updates to the windows which are dated. This property would be perfect for an experienced or entry level flipper looking to get 2025 going with a bang!
About the Neighbourhood

Located in the Stinson neighbourhood of Hamilton, this Semi Detached is inviting to all retail buyers, specifically first time home buyers. Located along the escarpment, the property is extremely accessible but also not too close to the constantly busy downtown core! The property is minutes from the Hunter St E Go Train station with routes extending east to Burlington and west to Niagara. The property is located south of Highway 8, which is a main street in the city making it accessible when commuting throughout the city. 

Property Details

  • Semi Detached 2-storey house
    • Brick
  • 4 bedrooms
    • attic accessible via staircase that is considered the 4th bedroom
  • 1 bathroom
    • 1 full bathroom upstairs
  • Basement is unfinished
    • The ceiling height is around 6ft throughout (some areas are lower) buyer to verify 
    • unfinished basement
  • 1571 sqft above grade
  • 490 sqft below grade
  • Appliances are included in the sale
    • Fridge, stove, washer, dryer
  • Property taxes are about $2933
  • Furnace is owned
    • Around 10 years old as per seller
  • HWT is rental
    • Around 2-3 years old as per seller
  • A/C owned
    • 10 years old as per seller
  • Roof
    • 10-15 years old as per seller
  • Windows are original as per seller
    • 25-30 years old
  • Breaker Panel, copper wiring
    • upgraded 10 years ago
  • No garage, no driveway
  • Built in 1890
  • 19.20ft x 130ft lot
  • R1 zoning

Recommended Renovations

  • Full renovation
  • Upgrade windows
  • Exterior landscaping work for curb appeal
  • Seller has the option to leave contents behind so we recommend budgeting for junk removal
Pictures and More
The Numbers

We are selling our assignable purchase contract for this excellent FIX and FLIP or rental opportunity.

  • Wholesale Price: $369,999
  • We believe that this property is worth $435,000
  • We believe that after full renovation this property would sell for at least $600,000 on the MLS
  • Buy now for $65K BELOW market value!

Comparable Analysis

  • 74 Erie Ave sold for $405,000 in April 2024. This 4 bed 2 bath TOWNHOUSE was built in 1895 and would require a full renovation as it is in rough condition. The property sits on an 18ft x 85ft lot and only has street parking, similar to the subject property. According to the listing the property has a 1600sqft footprint. While the property is in similar condition the property is a townhouse meaning the subject property would sell higher than the comparable, at a price around $435,000
  • 213 Jackson St E sold for $570,000 in August 2024! This 2 bed 2 bath end unit TOWNHOUSE sits on a 19ft x 120ft lot and is approximately 1151sqft. The comparable has 2 parking spots in the rear of the property accessible via a laneway. As per the listing it was also built 100+ years ago. The comparable has undergone some renovations throughout, specifically in the kitchen, and some flooring that was sanded and stained. However there are still some updates required specifically the upstairs flooring and bathrooms. As per the listing the basement is full and partially finished. We believe, considering the subject is a semi detached, that the property would sell for a price around $435,000 in AS IS condition.
  • 30 Blythe Street sold for $637,000 in June 2024 after 7 days on the market! The 3 bed 1 bath century semi detached is located minutes from the subject property! Sitting at around 1473sqft the property was tastefully renovated throughout however the kitchen was still dated and the basement was unfinished. The comparable does not back onto a train track however making it more desirable. However the lot size was extremely similar to the subject property sitting at 21ft x 120ft. We believe after a renovation, considering some adjustments, the subject property would sell for a price around $580,000 on the MLS!
Price:
$369,999
Address:
Hamilton
Terms:
Assignment of Contract
Property Type:
Home

Call 647-930-0291 for more details