| Aintree Drive, Niagara Falls, ON
Offer Date: FIRST COME FIRST SERVE
Closing Date: November 30th 2023
** Realtors bring us a client and add your commission on top of the purchase price**
About the Property
Attention all investors looking for a cosmetic Fix and Flip to start soon; This deal is right for you!
This semi detached backsplit property consists of 3+1 bedrooms, 1 bathroom and is approximately 943 sqft. The property is dated and is in need of a cosmetic renovation. The furnace has had some issues with the heat exchanger, meaning an investor may need to account for the cost to replace the unit. However the roof and windows are both approximately 10 years old and are in good condition according to the seller. This property would be perfect for an experienced or new investor looking for a property to quickly add to their portfolio to flip/keep as a rental property.
About the Neighbourhood
The subject property is situated in a desirable neighbourhood in Niagara Falls; precisely located in a pocket West of the QEW and south of Thorold Stone Rd. This quiet community is situated perfectly for families as it is not directly downtown, however it is in walking distance to many amenities, specifically restaurants, schools, parks and
grocery stores. Niagara Falls is located very close to the United States and is a short drive to the rainbow bridge. The property is also great for commuters as the QEW is less than 5 minutes away!
Property Details
- Semi Detached backsplit
- 3 bedrooms
- 1 full bathroom
- 943 sqft above grade
- 961 sqft below grade
- Built in 1975
- Basement unfinished
- Seller sectioned off area for a bathroom. Plumbing work would need to be done to connect the drain to the main stack as well as venting for the bathroom
- Basement ceiling height is approximately 7 ft in both lower levels of the basement
- Basement does have some small cracks on the wall
- a buyer may consider doing injections to ensure no water enters
- There is a side entrance than can be configured into 2 units
- Appliances included are as follows
- 1 fridge
- 1 stove
- 1 washer
- 1 dryer
- Unpaved driveway
- Breaker panel, aluminum wiring
- A/C approximately 10 years old
- good working condition as per seller
- Furnace is older and needs repairs
- as per the seller there is an issue with the heat exchanger and the furnace needs maintenance
- HWT is a rental, replaced in 2023
- Roof is about 10 years old as per seller
- Windows are about 10 years old as per seller
- Property taxes are approximately $2694
- 30 ft x 200 ft lot
- Zoning R2
Recommended Renovations
- Cosmetic Renovation
- Upgrade / Fix furnace
- Pave driveway
- Add bathroom in the basement if a buyer desires
- Seller has the option to leave junk behind so we recommend budgeting for junk removal
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| The Numbers
We are selling our assignable purchase contract for this excellent FIX and FLIP opportunity.
- Wholesale Price: $379,999
- We believe that this property is worth $450,000 as-is on the MLS
- We believe after a cosmetic update the subject property would sell for at least $580,000 on the MLS
- Purchase today for $70K BELOW MARKET VALUE
Comparable Analysis |
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- 8141 Post Road sold for $455,000 9 days ago in November 2023 after 11 days on the market! This semi detached backsplit consists of 3 bedrooms, 1 bathroom as is approximately 959sqft as per the listing. The comparable property is dated throughout and would need a cosmetic renovation specifically in the kitchen, bathroom, basement and flooring throughout. The comparable does sit on a smaller lot as it only has a depth of 110ft rather than 200ft depth that the subject property has. The comparable does have a paved driveway however and has been better maintained than the subject property. Therefore we believe the subject property would sell for a price around $450,000 AS IS if listed on the MLS.
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- 8181 Post Road sold for $559,000 25 days ago (October 2023) after 29 days on the market. This 3 bed 2 bath semi detached is approximately 1200sqft and sits on a 31ft x 110ft lot. The comparable is a 2 storey rather than a backsplit thus total sqft of the 2 properties (including the basement) are both around 1800sqft. The comparable does have an additional bathroom however and has slightly better updates than the subject property. The comparable however is not what we would consider ARV condition as there are still some updates required specifically the kitchen, bathroom and basement. However the basement is finished with drywall while the subject property is completely unfinished. We believe after a full renovation, the subject property would sell for a price higher than the comparable, around $585,000.
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- 4607 Sussex Drive sold for $650,000 back in August 2023 after 15 days on the market. The property is approximately 1025 sqft as per the listing and has 3+1 bedrooms and 2 bathrooms. The property has been tastefully renovated with pot lights throughout, and upgrades to the kitchen, bathrooms and basement. The comparable is also a backsplit and sits on a 30 ft x 157 ft lot. After a complete cosmetic renovation, with the addition of a bathroom in the basement, and taking into consideration the market change, we believe the subject property would sell for a price around $580,000.
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| Need Financing? |
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| Looking for a construction cost estimate?
SLG Renovations will manage the construction of this project from start to finish. If you’re looking for an estimate please email info@slgrenovations.ca
View our past projects here |
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| 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
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| 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. |
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