 Prime St.Catharines Bungalow on a Large Lot – $100k DiscountđŸ”¥
***Bunting Rd & Scott St*** St. Catharines, ON
Wholesale Price: $493,000(Assignment Fee Included)
Photos/Videos: https://drive.google.com/drive/folders/1wSO1P_O5oYuRuPZQoRBuF7Ij6l3NpPJ1?usp=sharing
FULL BUYER’S PACKAGE: https://conta.cc/3OnbGMV
Investors, check out this Quintessential Bungalow that ticks all the following boxes:
- Prime North St.Catherine’s Location in Grantham – close to the Welland Canal.
- It’s a Bungalow on a large 60 x 125 lot, with a separate entrance to a basement withÂ
 7 foot ceilings – a tried and tested layout that can easily be used to create 2 spacious units.
- The Price! This property is available to you today at a solid discount. Renovated comparable bungalows are going in the high $700s, and unrenovated ones are selling in the low $600s. This property is available at a $100k discount!
This property has been in the same family since it was built and does require a full cosmetic renovation. Electrical would need to be updated to breakers. The roof and HWT were done in the last 5 years – which means that more of your reno funds could be used for improving the finishes.
Thanks to the neighbourhood and the size of the property, you will be able to collect premium rents once the property is renovated. At a $493k purchase price, you are looking at acquiring a fantastic long term hold in a solid neighbourhood with lots of Positive Cashflow Potential. That extra large backyard could also mean that it’s a prime candidate for a garden suite in the future. Take advantage of the market and acquire this top quality asset at an entry level price point!
Property Highlights:
- A+ North St.Catharines Location (Grantham)
- All Brick Bungalow
- 3 Bedrooms
- 1 Full Bathroom
- Detached Single Car Garage + Driveway Parking for 3 Cars
- Large 60.13 x 125.16 ft lot
- Sun Room at rear
- Separate Entrance to BasementÂ
- 7 ft ceiling in Basement
- Laundry in Basement
- Fuse Box Electrical
- Roof was replaced in the last 5 years
- HWT Rental
- Year Built: 1966
- Taxes: $3,769.07/year(approx)
- Shed in the Backyard
Suggested Renos:Â
Full Cosmetic Update, Landscaping, Garden Suite Potential
Map Link: https://goo.gl/maps/usXJCNWDRkcLNB7H9
Comparables:Â
- 56 Woodelm Dr sold for $815,500 on July 4th, 2023
This is a great example of what our property could be worth once renovated. It is slightly older than our property but is very similar to our property in terms of overall size. It just sold 10 days ago for $815k! You have a cushy $322k spread to ARV in this case.Â
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- 4 Tavistock Rd S sold for $785k on May 17th, 2023Â
https://housesigma.com/web/en/house/nbq6y1K2DXa3o9DA/4-Tavistock-Road-St-Catharines-L2M6X6-40409894
This property is another example of what ours could sell for once renovated with decent finishes. This property is also comparable to ours in terms of overall size and footprint. It sold for $785k in May, that’s almost $300k over our price!
- 5 Viking Dr sold for $650,000 on May 18, 2023
This unrenovated bungalow sits on a much narrower lot than ours. The basement of this property is also not renovated. The house is dated throughout and still sold for $650k – that’s $157k over our price point. Â
Closing : August 31st, 2023