Attention Experienced Flippers!
Distressed property for sale Midland: experienced renovators can acquire this partially completed linked bungalow for only $249,000 and finish the project to pursue an estimated after-repair value of $425,000 or more.
A substantial portion of the demolition and major exterior work has already been completed. The roof, windows, eavestroughs, and downspouts were replaced in 2026, allowing the next buyer to focus more of the renovation budget on completing the interior and mechanical systems.
Investors can keep the project relatively simple by completing the main floor or explore additional value by finishing the basement, which has approximately eight-foot ceilings.
The front entrance configuration may also provide an opportunity to create a second unit and execute a BRRRR strategy. Any second-unit conversion would be subject to zoning, building permits, fire-code compliance, and all other municipal requirements.
How Can You Profit?
1) Full Renovation Flip
With demolition and much of the major exterior work already completed, more of the renovation budget can be directed toward the unfinished interior.
Purchase the property for $249,000, complete the renovation, and resell into a market where the supplied comparable properties reportedly sold for approximately $410,000 to $445,000 after limited time on the market.
A professional renovation and modern interior finish may help the property compete with the strongest comparable sales.
The buyer should independently confirm the comparable properties, renovation budget, financing expenses, closing costs, carrying costs, resale expenses, and expected after-repair value.
2) Two-Unit Conversion and BRRRR
The front entrance layout and approximately eight-foot basement ceilings may make this property suitable for a potential second-unit conversion.
Based on the supplied rental comparables, one-bedroom and two-bedroom main-floor or basement units in the area may rent for approximately $1,450 to $1,550 per month. If a legal second unit can be created, the property could potentially generate combined gross rent of approximately $3,100 per month.
Before proceeding, the buyer should independently confirm:
- Local zoning requirements
- Building-permit requirements
- Legal egress requirements
- Fire separation and fire-code requirements
- Ceiling-height requirements
- Parking requirements
- Electrical and plumbing requirements
- Achievable market rent
- Financing and refinancing eligibility
Summary
- LOCATION: Midland, Ontario, near Highway 12 and King Street
- DISTANCE: Approximately 45 minutes north of Barrie
- PURCHASE PRICE: $249,000 or best offer
- ESTIMATED AFTER-REPAIR VALUE: $425,000 or more
- CLOSING: June 29, 2026. This is an assignment sale.
- PROPERTY TYPE: Linked bungalow
- BEDROOMS/BATHROOMS: Two bedrooms and one bathroom
- BATHROOM CONDITION: Plumbing is present, but fixtures must be installed
- PARKING: Two-car driveway
- BASEMENT: Unfinished with approximately eight-foot ceilings
- INTERIOR SIZE: Approximately 925 square feet
- LOT SIZE: 35 feet by 68 feet
- YEAR BUILT: 1991
- PROPERTY TAX: Approximately $2,900
- POSSESSION: Vacant
Renovations Needed
- Complete the unfinished interior renovation
- Install flooring, drywall finishes, trim, paint, cabinetry, and fixtures as required
- Install the bathroom fixtures
- Install a forced-air heating system
- Install a hot-water tank
- Review and potentially update the electrical panel
- Complete the unfinished basement if desired
- Remove remaining junk and furniture
- Complete any additional work identified through an independent property inspection
Please review the pictures and videos to evaluate the current renovation progress and determine your preferred scope of work.
Good News
- Roof replaced in 2026
- Windows replaced in 2026
- Eavestroughs and downspouts replaced in 2026
- Major demolition work has already been completed
- Approximately eight-foot basement ceilings
- Front entrance layout may accommodate a second unit, subject to approvals
- Vacant possession
- Renovation is already underway
- Low $249,000 entry price
- Multiple potential exit strategies
- Located near the Midland Rotary Waterfront Trail
- Access to the Midland Harbour Marina
- Near recreational amenities at Little Lake Park
- Convenient access to downtown Midland and the Georgian Bay waterfront
- Potential flip, rental hold, second-unit conversion, or BRRRR opportunity
LISTING ID: 0626-MID-F01
Please reply to request the complete information package, including comparable sales, MPAC information, pictures, videos, and additional property details.
Thank you,
Josea Dussard, Tobias King, Georgia Godfrey and Aaron Moore
647-557-5979
www.HouseDealsGTA.ca
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