Wholetail / Flip Opportunity in a Coveted Clarington Community 👀
Wholesale Price: $495,000 (Assignment Fee Included)
****Newtonville Rd & Durham Regional Hwy 2, Clarington, ON****
Photos/Videos: https://drive.google.com/drive/folders/14N3SsFhfwfDvrV4xLVuMX28NbmiDjHya
FULL BUYER’S PACKAGE:
Sitting on a large lot that’s 5 minutes away from Hwy 401, this property is in a prime location- backing on to brand new million dollar homes, and surrounded by tastefully upgraded properties, this house is ideal for anyone looking to for a discounted flip project. Located 10 minutes East of Bowmanville, Newtonville is the Municipality of Clarington’s best kept secret!
This house is a lot larger than it looks- it was originally a Bungalow that had a second storey addition in the 1980s. The property has an expensive main floor, with a large kitchen, dining area, a sun room, an extended living area, a full washroom and an office room. The second floor has 3 Bedrooms and a full size washroom. Thanks to its layout and size, you can easily add another bedroom into the house.
The house is currently dated and could use some cosmetic renovations in order to be brought up to modern standards. Although the house is dated, it is still in livable shape- for those looking to get A lender financing and slowly renovate the property over time as a primary residence or a long term hold, you don’t need to get expensive private financing. Some of the large ticket items like the Roof, the Septic System, the Windows etc were taken care of in the last 5 years – your reno budget can be used to add upscale finishes.
Not a single house in the area has sold below $750k on the MLS in the last 360 days! The discount and the spread is packed into this deal. You’d be hard pressed Get your hands on this Profitable Property today!
Closing: November 30th, 2023(flexible)
Map Link: https://goo.gl/maps/rxM5jWcg3vnqE7Lg7
Property Highlights:
- A+ location in Newtonville, Clarington
- Bungalow with 2nd Storey Addition
- 3 Bedrooms
- 2 Full Bathrooms
- 1 Office Room
- Sun Room at Entrance
- 59.28ft x 145.82ft Deep Lot
- Shed at the Side of the House
- Large Unfinished Basement
- Basement ceiling height over 7”
- Zoning: RH
- Year built: 1947
- Property Taxes: $4,275/year(approx)
- 200 Amp Electrical (Breaker Panel)
- Roof approximately 5 years old
- Windows have been Replaced
- Septic System updated in the last 5 years.
- Furnace and Oil Tank in Good Shape(Inspected in 2019 for compliance)
- HWT Owned
- Easy access to Hwy 401
- Vacant Possession
Suggested Renos:
Cosmetic Renovations
Comparable Properties:
- 38 Jones Ave sold for $917,500 on July 27th, 2023.
https://housesigma.com/web/en/house/amgL7AV8jDb3Z1MW/38-Jones-Ave-Clarington-L0A1J0-E6699180-E6699180
This property sits on a wider lot and has nice finishes. However the lot is not as deep, and the house is similar to ours in terms of overall size. This property sold for a whopping $917k, well over the asking price the day after it was listed. It goes to show the amount of demand in the area.
- 4536 Highway 2 Rd sold for $775,000 on February 27th, 2023
https://housesigma.com/web/en/house/Zaw5Yo5OG0q7n961/4536-Highway-2-Rd-Clarington-L0A1J0-E5907471
This property is located across the street from our property and is very similar to ours in terms of size and overall footprint. It was renovated with nice finishes and sold for $775k in February when the market was slow. That’s a $280k spread from our price point!
- 11 Newtonville Mill St sold for $750,000 on February 26th, 2023
This Bungalow is similar to our house in terms of size but does not feature a second storey addition. This property was not renovated and had basic finishes throughout. It only lasted for a day on the market after which it was sold for $750k – that’s $250k+ over our price point!