Peterborough Assigned

By September 1, 2020
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $40,000 BELOW Market Value!
Closing Date: October 1, 2020

Stewart Street, Peterborough, ON

Cheapest single family detached property you can find in Peterborough. The subject property is located just south of Downtown Peterborough. Situated near the property are multiple nice restaurants (along Lansdowne Street), Tim Hortons, LCBO and the Otonabee River. This property is suitable for a beginner or experienced investor looking to take on a cheap fix and flip or great BRRR. You currently can’t find a property listed in Peterborough for under $250k!

Property Features

• 1 full storey
• 974 sqft above grade
• 792 sqft basement
• 2 Bedrooms, 1 Bath
• 2 separate entrances
• Triangular Shaped Lot: 40 ft Frontage x 112 ft Depth (one side) x 102 ft Depth (other side)
• Furnace is owned and approximately 13 years old.
• Hot water tank is rented and about 13 years old
• Rubber roof which is over 20 years old. The ceiling drywall in the kitchen was damaged due to a leak in the roof. The Seller notified us that they repaired part of the roof to stop the leak, however a full new roof may be required
• Breaker panel, no visible knob and tube
• Seller installed new fans in the living room and kitchen

Renovations Needed

• Needs a full cosmetic renovation
• Ceiling drywall repair required in the kitchen

We are selling our assignable purchase contract for this excellent FIX & FLIP or BRRR opportunity.

• Wholesale Price: $179,999 or Best Offer
• We believe that this property is worth $220,000 as-is on the MLS
• We believe that after a full cosmetic renovation this property should sell for at least $280,000 – $300,000 on the MLS
• Purchase today for $40K BELOW MARKET VALUE

Comparable Analysis

• 12 Stewart Place sold in January 2020 for 305,000. Its a brick bungalow with 2 bedrooms, 1 bathroom and is approx 900 sqft. The main floor is fully renovated and the basement is unfinished. We believe that after a full cosmetic renovation on the main floor the subject property can sell for pretty close to this comparable.
• 75 Park Street S sold in March 2020 for $299,000. It is a detached 1.5 storey with 2 bedrooms, 1 bathroom and is approximately the same size as the subject property. The property has been partially renovated with some newer flooring but has an older kitchen and bathroom. Additionally, the basement is unfinished. Again we believe this to be a pretty close comparable after an investor has fully renovated the main floor of the subject property.