Semi-Detached House in Oshawa! Available

  • $564,999

Fix and Flip or Rental Opportunity

$65K BELOW Market Value!

Cherrydown Drive

Cherrydown Drive, Oshawa, Ontario

Offer Date: FIRST COME FIRST SERVE
Closing Date: August 23rd, 2024

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

About the Property

Ready for your next project? This semi-detached 3 bed, 2 bath backsplit house has a footprint of 1368 sqft and sits on a lot with a frontage of 27.50ft and depth of 111.25ft. The property is dated throughout and will require a full cosmetic renovation. The windows are dated and will need to be updated. Additionally, the electrical is on a fuse panel and will need to be updated to a breaker panel. The furnace and HWT have been replaced within the last 5 years saving the buyer a costly job. The basement is unfinished and is currently being used as a utility room. This structurally sound property will not last long! CALL TODAY BEFORE IT’S GONE!

Property Details

  • Semi-Detached 4 level backsplit House
    • 3 bedrooms
    • 2 full bathrooms
  • 1368 sqft above grade
  • 568 sqft below grade
  • The basement is unfinished
    • 7ft Ceiling Height
  • Fuse panel
    • Copper wiring as per seller, buyer to verify
  • Built in 1981
  • Furnace is owned
    • 5 years old as per seller
  • A/C is owned
    • Installed 20 years ago as per seller
  • HWT is owned
    • Installed 2 years ago as per seller
  • Appliances included
    • Fridge, stove, washer, dryer
  • Roof was redone 10 years ago
    • Soffit needs to be cleaned
  • Windows are outdated
    • exact age unknown
  • 27.50ft by 111.25ft lot
  • 1 car garage
  • Property taxes are approximately $3647.
  • R2 Zoning

Recommended Renovations

  • Full cosmetic renovation
  • Possibly update windows
  • Update electrical panel
  • 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 & FLIP or rental opportunity.

  • Wholesale Price: $564,999
  • We believe that this property is worth $630,000 as-is on the MLS
  • We believe that after a cosmetic update, this property should be worth at least $775,000 on the MLS.
  • Purchase today for $65K BELOW MARKET VALUE

Comparable Analysis

  • 1329 Sunnybrae Cres sold for $665,000 in February 2024. This 3 bed 2 bath semi-detached 2 storey house is outdated throughout similar to the subject property. The comparable has a similar footprint to the subject property (1100 sqft – 1500 sqft) and sits on a similar 27ft x 111ft lot. Unlike the subject property the basement in the comparable is a partially finished living space and it is a 2 storey vs the subject property being a backsplit. Therefore after adjustments we believe the subject property would sell for a price of around $630,000 as-is on the MLS.
  • 1356 Sunnybrae Cres sold for $796,000 in May 2024. This semi-detached 2 storey consists of 3 beds, 3 baths and has a larger footprint of 1500-2000 sqft. The comparable sits on a 22ft x 167ft ravine lot with slightly less frontage than the subject property. The comparable is mostly outdated throughout similar to the subject property however it presents much better. The comparable has an additional bathroom and the basement is finished with a walkout entrance. Therefore after adjustments, we believe the subject property would sell for a price of around $630,000 in “as-is” condition.
  • 1300 Sunnybrae Crescent sold for $630,000 just 3 days ago! This semi-detached 2 storey consists of 3 beds, 2 baths and has a larger footprint of 1100-1500 sqft. The comparable sits on a similar 28ft x 108ft lot. The comparable is mostly outdated throughout excluding some newer flooring and paint. This property was sold “as-is” without any representations or warranties. The comparable basement does have a walkout entrance. Therefore after adjustments, we believe the subject property would sell for a price of around $630,000 “as-is”.
  • 532 Muirfield Street sold for $805,000 in January 2024. This semi-detached 4 level backsplit consists of 3+1 beds, 3 baths and has a larger footprint of 1683 sqft. The comparable sits on a slightly larger 30ft x 114ft lot. The comparable is updated throughout and has a fully finished basement, unlike the subject property which needs upgrades and has a unfinished basement. The comparable has a additional bathroom and basement bedroom however it does lack a garage. Therefore after adjustments and a cosmetic renovation, we believe the subject property would sell for a price of around $775,000 on the MLS.
Price:
$564,999
Address:
Oshawa
Terms:
Assignment of Contract
Property Type:
Home

Call 647-930-0291 for more details