Who’s looking for a profitable property?
With a healthy spread, strong comps and multiple exits, this is a textbook investor property! Keep your flip fast and your budget under control with this 1,029sf bungalow – even mid-grade finishes sell for $610K-$654K in this neighborhood. The basement also has a separate entrance, 6.75-foot ceilings, and one bedroom, giving investors the option to explore a second unit for up to $4,050 in combined monthly rental income!
How can you profit?
1) Easy Flip – Buy at $399K, update the cosmetics, add a basement bath and sell into a neighbourhood where comps are going for $610-$654K. No need to break the bank on expensive finishes, well presented homes with mid-grade finishes sell well here!
2) Two-Unit Conversion – The separate entrance, 6.75’ ceilings, and existing basement bedroom give you a practical starting point for a secondary suite. With main floor units renting for $2,250-$2,300/month and basement units going for $1,650-$1,750/month, that’s up to $4,050/month in combined rental income! (Buyer to verify zoning and permitting)
3) House Hack – With the cheapest detached home in the area listed for $615K (outdated), buy at $399K and move into the neighborhood for $215K less than anything available on the MLS! Improve over time and enjoy the equity, or juice your investment by converting the basement to an income unit and have the tenant cover up to $1,750 of the monthly mortgage.
4) Realtors: Bring Your Clients – Don’t let your flippers, landlords and handy end users miss out on this one – includes 2.5% Co-Op at $410K!
SUMMARY:
– LOCATION: Kitchener, ON (NE of King St E & Fairway RD N)
– PURCHASE PRICE: $410,000 (includes 2.5%+HST Co-Op)
– DIRECT BUYER PRICE: $399,000 Or Best Offer
– AFTER REPAIR VALUE: $610,000 – $650,000
– CLOSING: December 2, 2026 (This is an assignment sale.)
– TYPE: Detached bungalow
– BEDS/BATHS: 3+1 beds / 1 bath
– PARKING: 3-4 car driveway parking
– BASEMENT: Finished with separate entrance, 1 bedroom and 6.75′ ceilings.
– SQFT: 1,029
– LOT: 40′ x 100′
– AGE: 1971
– PROPERTY TAX: $3,419 (2025)
– POSSESSION: Vacant on closing
– POTENTIAL RENT: Estimated $3,900-$4,050/month (combined, two-unit conversion)
RENOVATIONS NEEDED:
– Cosmetic updates throughout, including paint, flooring and fixtures.
– Update kitchen and bathroom.
– Two-unit conversion: install basement kitchen and bathroom. (Buyer to verify)
– Roof (10-15 years old) and windows (15-20 years old), no signs of failure.
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– Separate basement entrance, existing bedroom and measured 6.75′ ceilings
– Furnace replaced 2025 and hot water tank approximately 5 years old
– Mid-grade finishes sell well in this area, no need to splurge
– Up to $4,050/month in combined rental income (two-unit conversion)
– Close to highway access, Fairway Park Mall, shopping and LRT
LISTING ID: 1026-KIT-F01
Please let us know if you want to view it or if you want the info package. (Comparable solds, MPAC info, and more…)
Thank you,
Aaron Moore, Tobias King & Georgia Godfrey
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
PS. PUSH HERE to get immediate access to these discounted deals as soon as they are available.