Who’s looking for a profitable property?
This raised bungalow in Kitchener is adjacent to greenspace, has a full height basement with separate entrance already in place, and offers an easy $220K spread. Big ticket items are in good shape, so all you need to focus on is the cosmetics!
Last week an as-is comp sold on-market for $625K within 7 days! It didn’t have an attached garage, fully finished basement, or the easy access to greenspace! That means this deal is at least $125K below market.
Multiple exit paths remain open: flip it, move in with equity, or explore a basement conversion with estimated total rent of $3,600-$4,200/month after proper setup.
How can you profit?
- Easy Flip – ARV comps are selling well over $700K, and most don’t have the same features as this! Few have garages, and most that do are detached. No comps offer the direct access to greenspace that comes with this property. Big ticket items are in good shape! Focus on the cosmetic and interior updates that matter.
- Add a Basement Unit – The basement already has a separate entrance from the garage, a bedroom and full bathroom, and 6.75 ft ceilings throughout. Add the proper kitchen setup and profit from a secondary suite. Estimated rents: main floor $2,200-$2,500/month and basement $1,400-$1,700/month, giving a potential total rent of $3,600-$4,200/month.
- Move In With Equity – End users can buy a detached raised bungalow for $125K below the most recent as-is comp (and that comp didn’t have an attached garage, or green space adjacent)! If you don’t mind a fixer-upper now’s your chance to buy over 20% below market.
SUMMARY:
- LOCATION: Kitchener, ON (King St E & Conestoga Pkwy)
- PURCHASE PRICE: $499,900 Or Best Offer
- AFTER REPAIR VALUE: $720,000
- CLOSING: July 28, 2026 (There’s some flexibility here if desired. This is an assignment sale.)
- TYPE: Detached raised bungalow
- BEDS/BATHS: 3+1 beds / 2 baths
- PARKING: 1 garage parking spot and approximately 2 driveway parking spots
- BASEMENT: Finished with 1 bedroom and full bathroom. 6.75 ft ceilings, and separate entrance from garage
- SQFT: 1,109
- LOT: 48′ x 115′
- AGE: 1960
- PROPERTY TAX: $3,487 (2025)
- POSSESSION: Vacant
RENOVATIONS NEEDED:
- Cosmetic and interior updates throughout.
- Basement conversion depending on your exit strategy.
- Some junk and furniture removal.
- Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
- Adjacent to public green space
- Recent comp in worse condition sold for $625K within 7 days (93 Plymouth Rd).
- Separate entrance from garage to finished basement with 6.75 ft ceilings
- Roof redone in 2026, with windows, furnace, AC, and HWT approximately 13 years old.
- Short stroll to Rockway Gardens, public walking trails, the YMCA, Kingsdale Community Centre and more!
- Easy commute; main bus stop steps away, and quick access to the Highway 7/8 split.
LISTING ID: 0626-KIT-F01
Please let us know if you want to view it or if you want the info package. (Comparable sales, MPAC info, and more…)
Thank you,
Josea Dussard, Tobias King, Georgia Godfrey, Aaron Moore
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors