All Brick Semi Detached in Woodstock!
Fix & Flip or Rental Opportunity

$60K BELOW Market Value 

Winniett Street

By March 10th, 2022
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $60K BELOW Market Value!
Closing Date: May 6th, 2022

**Due to COVID-19 restrictions sight unseen offers are preferred.**

Winniett Street, Woodstock, Ontario

About the Property

This semi detached 2 storey property consists of 3 bedrooms 1 bathroom per MPAC and is 1345 sqft. It is currently being used as a 5 bedroom student rental but can easily be converted back. The property requires a cosmetic facelift in order to maximize the ARV. Property taxes are roughly $2021 for the year. This home comes with a steel roof and new windows were put in 2022. The property will come vacant but is currently rented out for $2500. The Woodstock GO station is only a 4 minute drive and 20 minute walk from the subject property. This house is perfect for an investor looking for a project to fix and flip or hold as a rental.

About the Neighbourhood 

The subject property is situated in a good neighbourhood in Woodstock. This property is located 30 mins drive to the London airport. This property is close to countless amenities such as restaurants, Wal-Mart, Tim Hortons, LCBO, Food Basics, Woostock Hospital and schools. Woodstock is located conveniently North of the 401 and in between London and Kitchener-Waterloo.

Property Features

• Semi detached
• 5 bedrooms
• 1 bathroom
• 1148 sqft above grade
• 197 sqft below grade
• Property taxes are $2021
• On fuses
• Copper wiring
• Built in 1880
• Central A/C
• Furnace purchased in 2007
• HWT rented
• Currently rented for $2500 but will come vacant on closing
• Partial basement unfinished
• New windows, 2022
• Steel roof put in 2015
• 27.21 ft x 199 ft
• R2 Zoning

Recommended Renovations

• Full cosmetic renovation
• Sellers have the option to leave contents behind so we recommend budgeting for junk removal

We are selling our assignable purchase contract for this excellent Fix & Flip or Rental opportunity.

• Wholesale Price: $479,999 or Best Offer
• We believe that this property is worth $540,000 as-is on the MLS
• We believe that after a full renovation this property should be worth at least $600,000 on the MLS.
• Purchase today for $60K BELOW MARKET VALUE

Comparable Analysis

• 145 DOVER Street sold for $656,000 in March 2022. This semi detached bungalow consists of 3 bed 2 bath unit and is outdated throughout. The comparable is slightly bigger in size but sits on a smaller lot size. The comparable does have a basement but the subject property is a 2 storey. Therefore, after adjustments we believe the subject property is worth at least $540,000 on the MLS.
• 6 Innes street sold for $595,000 in February 2022. This renovated with modest finishes semi detached consists of 3 bed 2 bath. The comparable has a basement but sits on a smaller lot size and is close to a cementery. The comparable is half aluminum siding and half brick as opposed to the subject property that is all brick. The roof on the comparable is shingles as opposed to steel on the subject property. After adjustments, and depending on finishes we believe our property would sell for at least $600,000 on the MLS.