| Eliot Place, Guelph, Ontario
Offer Date: FIRST COME FIRST SERVED
Closing Date: August 14th, 2025
** Realtors bring us a client and add your commission on top of the purchase price**
Strategies For Success
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Here is an opportunity to purchase the CHEAPEST AVAILABLE FREEHOLD IN ALL OF GUELPH! There are multiple exit strategies that make this purchase a no brainer. With a side entrance the property can be converted into a duplex (permitted with the zoning) or a profitable fix&flip. Luckily there are many aspects of the home you can salvage to save on big costs, specifically the drywall throughout, the rear deck and the utilities which are in solid working condition as per the seller.
Property Overview
Details
- Semi detached 4 level backsplit
- Beds: 4 bedrooms (2 on upper level and 2 on first lower level)
- Baths: 2 full bathrooms.
- 838 sqft above ground + 838 sqft below ground
- Property is a backsplit, and all neighboring identical properties are listed with a 1000-1500 sqft range (most comparable properties when listed add the first lower level in their above grade sqft)
- Full height basement
- Has a separate entrance into the third level
- Basement is unfinished and located on the 4th level. The basement previously had carpet however it was removed due to a previous leak from the hot water tank
- The basement has a ceiling height of 7ft-8ft throughout
- Built in 1974
Mechanical & Systems
- Electrical: Breaker – mix of aluminum & copper wiring according to seller
- Furnace: Owned, installed about 15-20 years ago. Good condition as per seller
- A/C: Owned, installed about 15 years ago. Good condition as per seller
- Hot water tank: Rental, replaced 2 years ago as per seller. HWT to be assumed by buyer
- Appliances included: fridge, stove, washer, and dryer—all in as-is condition
Roof & Exterior
- Shingles are 14 years old (per seller)
- Vinyl windows
- Around 20 years old (good condition as per seller)
- No garage
- 1 shed on the property which is in good condition
- Multiple garden beds on the property adding character to the backyard
Lot & Location
- 34.75ft x 100ft (Irregular lot)
- Property taxes are approx. $3,378
- 14-minute drive to HWY 6
- 5-minute drive to HWY 7
- 9-minute drive to Guelph Central Station
- Zoning R.2
Important Notes
- The lower bathroom shower leaks onto the floors. The sellers have stopped using this shower to prevent water damage
- Some drywall needs to be installed in the lower bedroom due to a previous leak repair that was conducted
- Seller has the option to leave junk behind—budget recommended for junk removal
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| The Numbers
We are selling our assignable purchase contract for this excellent Fix & Flip or Rental opportunity.
- Wholesale Price: $474,999 or Best Offer
- We believe that this property is worth $550,000 as-is on the MLS
- We believe that after the recommended renovations are completed, this property should be worth at least $675,000 on the MLS.
- Purchase today for $75K BELOW MARKET VALUE
Comparable Analysis |
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- 12 Eliot Place sold in Dec 2024 for $642,500. This backsplit semi detached comparable has 2+3 bedrooms, 3 bathrooms and offers a similar footprint of 700-1100 sqft as per the listing. The comparable has one less main bedroom; however it offers 3 additional basement bedrooms and an additional bathroom. Similar to the subject property, the comparable has no garage and sits on a similar 30ft x 121ft lot. Although the comparable has had some updates done throughout it is still not a true arv although it shows much better than the subject property. Based on the condition and layout differences, we believe the subject property would sell for a price of $550,000 on the MLS in AS-IS condition.
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- 115 Dumbarton Street sold for $672,500 in March 2025 after 18 days on the MLS! This semi detached 2 storey consists of 3 bed 2 bathrooms and sits on a 30ft x 130ft lot. The comparable has been decently upgraded throughout specifically the basement, appliances and some flooring throughout. However it is still not a full ARV property as the kitchen is older, it has popcorn ceiling throughout, the bathrooms are slightly dated along with dated fixtures throughout. The comparable presents itself very well thus why it sold quickly on the MLS. The comparable did sell in a better market in March 2025, however it is worth noting that the subject property does have 1 additional bedroom as well. Therefore after adjustments and a full renovation to the property we believe the subject property would sell for a price around $675,000 on the MLS.
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- 45 Brighton Street sold in Feb 2025 for $617,500. This comparable semi-detached bungalow has a slightly smaller footprint of 700-1100 sqft as per the listing. The comparable lacks 2 upper-level bedrooms as well as 1 bathroom in comparison to the subject property. However, it is a bungalow which adds more value over the backsplit layout of the subject property. Similar to the subject property, the comparable has an unfinished basement and no garage. Cosmetically, the comparable has been partially updated throughout, unlike the subject property. Nevertheless it is still not a true ARV comparable as some updates would still need to be completed. Therefore, after adjustments and a full renovation, we believe the subject property would sell for a price of $675,000 on the MLS.
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