Who’s looking for a fix & flip opportunity? Or how about a cheap rental property? People are also tearing down these small houses and building big $1 Million plus houses. This cheap house has many options!
FIX & FLIP: Buy for $388k, do a substantial renovation, then sell in the $525-$550k range.
SUMMARY:
– PURCHASE PRICE – $388,000
– BUY-IT-NOW PRICE – $393,000 (If you know you want it based on pictures, videos and comps, then it can be yours and we won’t show it to multiple people. We can all avoid multiple offers. Yes we can arrange a viewing and/or inspection for you.
– Closing date is Feb. 14 – This is an assignment of contract.
– After Repair Value – The house is unique due to a 2nd storey addition, but based on similar and different properties $525,000 to $550,000 looks reasonable.
– LOCATION – Mississauga – Malton, Near Airport Rd and Derry Rd (Please do not stop by the property uninvited! 🙂
– detached house, 40′ x 100′ lot
– sqft TO BE MEASURED (Ground floor is 617 sqft and upper floor to be measured.)
– built in 1943 – this is a war-time house with no basement.
– 2 bathrooms
– How many bedrooms are there? Good question! …many decades ago the house used to be a 2 bedroom bungalow. A 2nd storey addition was added later and they made the house more open concept. I would add some walls and turn it into a 3 bed/2 bath. 2 Bedrooms upstairs and 1 bedroom on the main floor.
RENOVATIONS NEEDED:
– electrical – you may need to re-wire the house. Some knob and tube remains.
– new bathrooms.
– kitchen is decent. Solid cabinets. Nice gas stove.
– replace drop ceiling.
– replace and/or paint some wall paneling.
– new flooring
– painting
– front and back porch need work. Loose railings. Maybe more.
– driveway is rough.
– it’s a small house, so renos won’t get too expensive. But I’m sure we can find more to do!
This house has been assigned. But let us know if you’re looking for cheap houses in Mississauga.
Thank you,
Aaron Moore & Tomomi Wang
647-557-5979
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