Who’s looking for a profitable property?
Add a unit, add income. This one’s already set up for it.
At $455K with a $680K ARV, there is a $225K spread and only light cosmetic work to tackle. The raised bungalow layout, existing lower-level kitchen, approximately 8 ft basement ceilings and extra sound insulation create a practical starting point for a legal two-unit conversion, with estimated long-term rents around $2,500/month upstairs and $1,500-$1,800/month downstairs once legal requirements are met. Add a 45′ x 178.25′ lot backing onto a wooded area, a 2-car garage, 4-car stamped concrete driveway with side-by-side parking and newer major systems, and multiple exit paths remain open.
How can you profit?
1) Two-Unit Buy & Hold – Buy at $455K, complete the remaining cosmetic work and explore legal conversion of the raised bungalow into two units. Estimated long-term rents are approximately $2,500/month for the upper unit and $1,500-$1,800/month for the lower unit, giving you roughly $4,000-$4,300/month in total potential rent. The existing lower kitchen, 8 ft basement ceilings, extra sound insulation and ample parking give you a strong starting point. Buyer to verify zoning, permitting, egress and all legal requirements.
2) Easy Flip / Wholetail – Buy at $455K, focus on paint, kitchen finishing work, baseboards, the basement backsplash and general cleanup, then bring it back to market. The property has an ARV of $680K and was reportedly appraised by a broker at $670K just two months ago. That’s up to a $225K gross spread to ARV before financing, carrying, transaction and renovation costs.
3) House Hack / Move In With Equity – Live upstairs and explore turning the lower level into a legal income unit. An estimated $1,500-$1,800/month in lower-level rent could offset a meaningful portion of your monthly carrying costs, while you’re buying a detached home well below the $680K ARV.
SUMMARY:
– LOCATION: Port Stanley, ON (Joseph St & Main St)
– PURCHASE PRICE: $455,000 Or Best Offer
– AFTER REPAIR VALUE: $680,000 (recent broker appraisal reported at $670,000)
– CLOSING: October 15, 2026 (This is an assignment sale.)
– TYPE: Detached Raised Bungalow
– BEDS/BATHS: 3+1 beds / 2+1 baths
– PARKING: 4-car stamped concrete driveway with side-by-side parking + 2-car garage
– BASEMENT: Finished lower level with kitchen, approx. 8 ft ceilings and extra sound insulation; two-unit conversion potential subject to legal requirements
– SQFT: 1,360
– LOT: 45′ x 178.25′
– AGE: 1990
– PROPERTY TAX: $4,882 (2025)
– POSSESSION: Vacant on closing
– POTENTIAL RENT: $4,000-$4,300/month total after legal two-unit conversion (Upper approx. $2,500; lower approx. $1,500-$1,800)
RENOVATIONS NEEDED:
– Light cosmetic updates throughout, including fresh paint.
– Complete or replace some upper kitchen cabinetry.
– Install missing baseboards in the upper kitchen and hallway.
– Finish the basement kitchen backsplash.
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– Raised bungalow layout with lower-level kitchen, approx. 8 ft ceilings and extra sound insulation.
– Estimated $4,000-$4,300/month long-term rental potential after legal two-unit conversion.
– Metal roof approx. 3 years old, AC approx. 1 year old, 200 amp electrical panel updated approx. 6 years ago.
– Furnace and windows approx. 10 years old.
– 45′ x 178.25′ lot backing onto a wooded area, plus 6 total parking spaces and a massive lawn.
LISTING ID: 0926-POR-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