🏠🤑Under $400K: Peterborough Flip with a $300k+ Spread💰💰💰
Wholesale Price: $383,900 (Assignment Fee Included)
*****Charlotte St & Monaghan Rd, Peterborough, ON*****
Map Link: https://maps.app.goo.gl/4HL44QwjhWkNSSkf6
Photos/Videos: https://drive.google.com/drive/folders/1nSPDRHe_rakkoClkNE1q_Oxb5CSMcJ6V
FULL BUYER’S PACKAGE:
Profitable Property is back with another deal in the highly sought-after Avenues area of Peterborough. This charming street, lined with mature trees and stunning Victorian-style homes, is the perfect backdrop for your next profitable venture.
This 2.5 Storey All-Brick Detached house comes with a private laneway at the back, and a Detached Garage. With 5 Bedrooms spread over 2.5 storeys, there is a lot of potential here for an investor looking to add value. The home requires a full cosmetic renovation, along with a new roof, landscaping, and repairs to the deck/porch. The property has strong bones, and a solid brick structure with an updated electrical system. The big spread here allows you to renovate this up to the nines and still make a good profit!
Thanks to property’s size, location, and its discounted price point, there are multiple exit strategies available on this one- whether you choose to renovate and resell for a substantial profit or turn it into a cash-flow-positive student rental, this is an opportunity you don’t want to miss!
This deal is offered at a hugely discounted price, pretty much at pre-COVID levels, and is available at less than 60% of the After Repair Value! Yes, you read that right—this is the cheapest house available in the area by a considerable margin.
Grab this Profitable Property and transform it before someone else does!
Closing: October 31st,2024 (seller has the option to extend by a maximum of 30 days)
Property Highlights:
- A+ Location(The Avenues, Peterborough)
- Detached 2.5 Storey House
- Single Car Garage + Rear Laneway Parking
- 40 ft. x 100 ft. lot
- 5 Bedrooms
- 1 Full Bathroom
- 1 Powder Room
- Unfinished Basement(ceiling height around 6’5)
- Separate Entrance to Basement
- Hardwood/Vinyl Flooring throughout
- Year built: 1912
- Taxes: $5,044/year(approx.)
- Zoning : R2
- Updated 100 AMP Breaker Panel
- Furnace 2014
- HWT Owned
- Vacant Possession
Suggested Renos:
Full Cosmetic Renovation, New A/C, Landscaping, New Roof/Gutters, Repair Deck/Porch
Comparable Properties:
- 543 Gilmour St. sold for $705,000 on August 1st, 2024
Located in the same neighbourhood, and is similar to ours in terms of overall size. However, it does not feature a garage and has 2 less bedrooms. This property has nice finishes and was marketed well to be sold for $705k- that’s a $320k+ spread from our price point!
- 312 Boswell Ave. sold for $690,000 on June 21st, 2024
Located less than 500m away from our property, this property is also very similar to our property in all ways, except that it has one less bedroom. It is in good shape but has mostly original, dated finishes. It sold for $690k in June- that’s $300k over our price point in spite of not being fully renovated!
- 318 Frederick Ave. sold for $630,000 on August 19th, 2024
This property is another great example of how discounted our deal is- this property is dated, and can use a cosmetic renovation. It has the same overall footprint of our property. Despite being fully dated, it still sold for $630k- that’s almost $250k over our price point!