Semi-Detached House in Hamilton! Assigned

  • $519,999
  • 5 beds
  • 3 baths

Fix & Flip or Rental Opportunity

$80K BELOW Market Value!

Angus Road
Angus Road, Hamilton, Ontario

Closing Date: August 16th, 2024

**Seller has the option to shorten closing to July 26th, 2024 if notice is provided by July 8th, 2024. Seller also has the option to extend closing to August 30th, 2024 given notice is provided by July 29th, 2024**

**Buyer is to provide an additional deposit of $15,000 directly to the seller 7 days after all conditions are waived. A mortgage of $15,000 will be registered on the property to secure the buyer’s deposit. If the seller were to default on the terms of their agreement the mortgage will bear interest at a rate of 8%**

**Realtors bring us a client and add your commission on top of the purchase price**

About the Property

This semi-detached 2-storey home in Hamilton consists of 3+2 bedrooms, 2 full baths, and 1 half bath. It has a footprint of 1101 sqft and sits on a 30ft x 120ft lot. The property is mostly dated throughout and will require a full renovation. Additionally, the property would benefit from new windows as they are dated. The furnace and HWT have been redone in the last 2 years saving the buyer a costly job. The basement has been partially updated but there is still a lot of finishing work required. The basement already has a full bathroom and two bedrooms. Sectioning off the side entrance and adding a kitchen would provide duplex potential. This property is perfect for an investor looking for their next fix and flip or buy and hold in the growing city of Hamilton! Call NOW! This deal will not last!

About the Neighbourhood 

The subject property is situated in the Vincent neighborhood of Hamilton. Hamilton is located west of the GTA. The subject property is located west of the King Street East and Quigley Road intersection. The property is surrounded by countless amenities such as shopping malls, parks, Canadian Tire, No Frills, restaurants, and many more! The subject property is a 10-minute drive from the Confederation GO Station providing easy transportation for commuters. There are multiple bus stops within walking distance of the subject property. Redhill Valley Parkway is only a 3-minute drive away providing easy access both to the QEW as well as the 403.

Property Details

  • Semi-Detached House
  • 3+2 bedrooms
  • 2+1 bathrooms
    • 2 full bathrooms
    • 1 powder room (seller has rough-ins done on the main floor to relocate powder room beside kitchen)
  • Fridge, Stove, Dishwasher included
  • Dining room chandelier, washer, and dryer not included
  • 1101 sqft above grade
  • 524 sqft below grade
  • No garage
    • 2 car tandem parking in the driveway
    • Driveway is shared with neighbor
  • Basement is a finished living space 
    • 2 beds, 1 bath
    • Basement ceiling height is approximately 7-8ft. 6.5ft under bulkhead
    • Side entrance can be sectioned off to provide direct entrance to basement
  • Property taxes are about $3477
  • Electrical is on a breaker panel
    • Copper wiring
  • Built in 1976
  • Furnace is rented
    • Will be paid off on closing
    • 2 years old
  • HWT is rented
    • 2 years old
    • To be assumed by buyer
  • A/C is owned
    • Approximately 20 years old
  • Roof was redone 5 years ago
  • Windows are older
    • Exact age unknown
  • Lot size is 30ft x 120ft
  • D/S-410 Zoning

Recommended Renovations

  • Full cosmetic renovation
  • Consider adding basement apartment
  • Update windows
  • The seller has the option to leave junk behind so we would 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: $519,999
  • We believe that this property is worth $600,000 on the MLS
  • We believe that after a FULL renovation this property should be worth at least $720,000 on the MLS.
  • Purchase today for $80K BELOW MARKET VALUE

Comparable Analysis

  • 35 Fairway Drive sold for $680,000 in March 2024! This comparable consists of 3 bedrooms 2 baths and is slightly larger in size (1274 sqft) than the subject property. The comparable is mostly dated throughout but has had some updates done and presents much better than the subject property. The comparable sits on a similar lot size as the subject property (35ft x 100ft) but it is a brick house which would demand a premium over the siding on the subject property. Unlike the subject property, the comparable has no basement bedrooms and one less bathroom. Therefore, after adjustments, we believe the subject property is worth at least $600,000 in “as-is” condition.
  • 594 Greenhill Avenue sold for $728,000 in March 2024. This comparable consists of 3 bedrooms, 2 baths and is slightly larger in size (1270 sqft) than the subject property. The comparable has been fully updated throughout however the basement lacks bedrooms and there is also one less bathroom than the subject property. The comparable sits on a similar lot size as the subject property (33ft x 106ft). Therefore, after adjustments and a full renovation, we believe this property well sell for a price of at least $720,000 on the MLS.
  • 59 Fairway Drive sold for $785,000 in March 2024! This comparable consists of 4 bedrooms 2 baths and is slightly larger in size than the subject property (1288sqft). The comparable has been updated throughout but lacks a separate entrance for the basement, basement bedrooms, and has one less bath. The comparable has one additional bedroom and sits on a similar lot size (33ft x 106ft). Therefore, after adjustments and a full renovation, we believe this property will sell for at least $720,000 on the MLS.
Assignment of Contract
Property Type:

Call 647-930-0291 for more details