Flippers, here’s your next project.
This 2 storey detached sits directly on the York River on a 66 x 188 lot. The interior needs cosmetic upgrades throughout, but several big ticket items are in solid shape including the roof, furnace and electrical – you can focus on the fun stuff! The area has plenty to appeal to your end buyers and short term rental guests alike – easy access to fishing, boating, trails and an outdoor lifestyle, plus proximity to all the amenities of town.
How can you profit?
1) Full Renovation Flip – Buy at $199K, do a cosmetic refresh and target a quick sale at $365K – the comps sold in the $360s with NO riverfront! No need to break the bank on expensive finishes – well-presented homes with modest finishes still sell well in this area. The furnace, roof, and electrical panel are already in solid shape, so you can keep your reno budget focused on cosmetics rather than systems!
2) Short Term Rental – With fishing, boating, ATV trails, and cross-country skiing all easily accessible, it’s not surprising several short term rentals are thriving in the area! Buy for $199K, do a cosmetic refresh, furnish and bring in an estimated $32K+ in annual revenue! (Based on AirDNA area average which includes non-riverfront properties, with top earners hitting as high as $46K!)
3) Value Cottage – With the cheapest riverfront listed in the area at $395K (outdated), the value-minded buyer can purchase their weekend getaway for 50% of what’s available on the MLS! Improve overtime and simply enjoy the equity, or juice your investment with short term rental income on the off weekends.
4) Realtors: Bring Your Clients – Don’t let your flippers, short term rental operators or value-minded cottage hunters miss out on this one – 3% Co-Op included at $206K!
SUMMARY:
– LOCATION: Bancroft, ON (1.5 hr NE of Peterborough, 2.5 hr W of Ottawa)
– PURCHASE PRICE: $206,000 (included 3%+HST Co-Op)
– DIRECT BUYER PRICE: $199,000 Or Best Offer
– AFTER REPAIR VALUE: $365,000+ (comps sold in the $360s with NO riverfront!)
– CLOSING: November 10, 2026 (Flexible on closing date). (This is an assignment sale.)
– TYPE: 2 Storey Detached
– BEDS/BATHS: 3 beds / 2 baths
– PARKING: 5-car driveway parking
– BASEMENT: Half basement, unfinished, 5’8″ ceiling
– SQFT: 1,390
– LOT: 66′ x 188′, on the York River
– AGE: 1911
– PROPERTY TAX: $2,968 (2025)
– POSSESSION: Vacant
RENOVATIONS NEEDED:
– Cosmetic refresh of kitchen, bath, flooring and fixtures
– Some windows may be due for replacement
– Some junk and furniture removal
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– Direct waterfront lot on the York River
– Only 1.5 hours to Peterborough or Belleville, 2.5 hours to Ottawa or GTA
– 66 x 188 lot, plenty of space to work with
– Furnace recently inspected and well maintained, 900-gallon oil tank (3 years)
– Electrical panel upgraded to 200 amp
– Roof only 10 years old (40 year shingles)
– Attic has R20 insulation and new vents
– Sunroom windows and insulation already in good shape
– 5 car driveway plus shed for storage
LISTING ID: 0926-BAN-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
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