Cosmetic Flip in a Highly Desired Neighbourhood w/ Garden Suite Potential👀🤑🏡 Available

  • $499000
  • 4 beds
  • 2 baths
PROPERTY INFO
Profitable Property is back with another discounted deal in Peterborough – this time in the city’s highly desirable North End!

Located in a tree lined street in the Teacher’s College Area, this beautiful century home is full of character and old world charm. The house has had some tasteful updates done through the years while still maintaining its character. There is hardwood and tile flooring throughout the house, along with an exposed brick wall in the living area. While the house is dated, it is in livable shape and could be financed using an A lender.

This property has a lot going on for itself. Here are a few different strategies for investors looking to bring the property to its highest and best use:

  1. With a depth of 160ft., and a wide driveway that provides easy access to the back of the property, there is potential to build a detached additional dwelling unit(ADU) in the backyard.
  2. For flippers looking for a project with cosmetic renos, this property is a great fit as it sits in a highly desired, family friendly neighbourhood.
  3. For investors looking to turn this property into a student rental, there is potential to add 2 or more bedrooms in the loft and basement. This house is located right on the Trent Express Bus Route.

While it is possible to do renovations and modify houses, it is not possible to recreate the charm of a street like this with mature trees and large lots. At a discounted price point of $499k, it is tough to go wrong with this Profitable Property!

CLOSING: May 31st, 2023

(Seller is open to closing sooner)

PICTURES & VIDEOS
PROPERTY HIGHLIGHTS
  • Highly desirable North End PTBO Location
  • 2.5 Storey Detached Home
  • 3 Bedrooms + Large Loft
  • 2 Full Washrooms
  • 55.87ft. x 160.32ft deep lot
  • Taxes: 3,967.24 (2022)
  • Wide Driveway with Parking for 4+ cars
  • Roof was redone 6 years ago
  • Side Entrance to Partially Finished Basement
  • Above Ground Pool with Custom Deck
  • Wood Fireplace
  • Detached Shed
  • Furnace 2014
  • HWT Rental
  • 200 AMP Breaker Panel
  • Vacant Possession
  • Seller has the option to leave some belongings behind as per APS
PROPERTY RENOVATIONS
Cosmetic Renos/Cleaning
PRICE
PRICE: $499,000

(Assignment Fee Included)

COMPARABLES

 

853 Fairbairn Street sold for $645,000 on February 3rd, 2023

This property has moderate finishes and sits on a smaller lot than our property. It has one more bedroom than our property and does not feature a garage. It sold for $106k over our price in February in spite of not being fully renovated

762 Water Street sold for $645,000 on March 13th, 2023

This house is located in a less desirable area and sits on a smaller lot. It was used as a student rental and has very basic finishes. It still sold for $106k over our asking price. It is also worth noting that this house is 15 years older than our property.

325 Mason Avenue sold for $590,000 on April 18th, 2023

This property is similar to ours in terms of overall side and condition, but is located on a street that is not quite as desirable as ours. It has a dated interior and a single car garage. It sold for $51k over our price in April.

 

https://conta.cc/3oO2vdU

Price:
$499000
Address:
Peterborough
ON
Bedrooms:
4
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home

Call (647) 955 2561 for more details

Property Location