Wholesale Price: $236,000 (Assignment Fee Included)
*****King St & Fourth St, Welland, ON*****
Photos/Videos:
https://drive.google.com/drive/folders/1j0fQ30LzYA9iO6DfgC_aDsfKywLp7rbT
FULL BUYER”S PACKAGE:
Calling all flippers that have been waiting on the sidelines – this is your chance to get your hands on a detached property at a super discounted price point!
This property is located within walking distance to the Welland Canal and the Welland County General Hospital. Located on a small lane with low traffic, this house is perfect for investors looking to acquire a low risk, entry level house.
This property needs a full cosmetic renovation along with a new roof.
Due to the scope of work required, it is a perfect blank slate for investors looking to add their personal touch. With a sub $250k purchase price, you should even be ok renting this out as a Single Family Home!
There is not a single MLS listed detached property available in Welland for under $300k. We estimate this property to be worth at least $390k after a basic renovation…it’s available to you today at 60 cents on the dollar – that’s what we call a Profitable Property!
Closing: April 30, 2023
Map Link: https://goo.gl/maps/pHqNW7QtXX8EuqrM9
Property Highlights:
- Located close to the Welland Recreational Canal
- 3 Bedrooms
- 2 Bathrooms
- 34 x 68 lot
- Detached Single Car Garage
- Parking for 3 Cars
- Side Entrance to Basement
- Taxes: $1414.03/year(approx)
- Year Built: 1912
- Furnace,A/C & HWT Owned
- Some of the Windows have been replaced
- Walking distance to the Welland County General Hospital
- Vacant Possession
- Seller will leave the property in Broom Swept Condition as per APS
Suggested Renos:
Full Renovation, Roof Replacement
Comparables:
- 26 Patsy Ave sold for $358k on Feb 28, 2023
https://housesigma.com/web/en/house/gAaOyL85EzbyGxMb/26-Patsy-Avenue-Welland-L3B3M2-40364386
This property has the exact same amount of bedrooms and bathrooms as our property. It also has a very similar lot size, and needs a full reno. An apples to apples comparison to our property and sold for $122k over our price less than a month ago!
- 30 Albert St sold for $430k on January 30th, 2023
https://housesigma.com/web/en/house/GMnKYqpwKEb3w1Qr/30-Albert-St-Welland-L3B4L2-X5834926-40336451
This property has a very similar footprint as our property. Same number of bedrooms and bathrooms, similar frontage, and a single car garage. It was tastefully renovated and sold for $430k less than 2 months ago- that’s almost a $200k spread from our price.
- 628 Southworth St. S sold for $385k on February 1st 2023
https://housesigma.com/web/en/house/nbq6y101Lx0Yo9DA/628-Southworth-Street-S-Welland-L3B2A3-40359243
This property is smaller than our property- it has one less bedroom and one less bathroom. It also does not feature a garage. The property was partially renovated and sold for $385k last month.