Who’s looking for a profitable property?
Quite, family-friendly neighbourhood where renovated comps (especially those with a pool like this one) are selling in the high $600Ks! Even unrenovated comps are selling in the mid $500Ks. That gives you a big discount off market price and a $275K spread for mostly cosmetic work.
This home already has an existing in-law suite with a separate entrance, making it a simple 2 unit conversion! Since it’s a raised bungalow, the basement gets lots of natural light and almost feels like a walkout!
Whether it’s a quick flip or a profitable rental, the choice is yours!
How can you profit?
1) Easy Flip – Top comps are selling in the high $600Ks. With a large (and functional) backyard pool, and an existing in-law suite, this home has the potential to reach that top value. You’re looking at a $275k spread for a mostly cosmetic project!
2) Rental / 2-Unit Repositioning – The lower level is already finished with a kitchen, 2 bedrooms, and a bathroom, and it has a separate entrance through the backyard! On top of that, the raised bungalow keeps much of the space above grade, making it feel more like a walkout! Estimated rents are approximately $2,300/month upstairs and $1,700-$1,800/month downstairs, giving you $4,000-$4,100/month in potential combined rent.
3) BRRRR – At only $374K, with an existing in-law suite to helping to off set living costs this becomes one of the most affordable properties in the area! Only minor updates needed to get the home back in rent-ready condition.
SUMMARY:
– LOCATION: Simcoe, ON (Lynndale Rd & Ireland Rd) 40km S of Brantford
– PURCHASE PRICE: $374,900 Or Best Offer
– AFTER REPAIR VALUE: $650,000
– CLOSING: August 31, 2026 (Minimal flexibility here. This is an assignment sale.)
– TYPE: Detached Raised Bungalow
– BEDS/BATHS: 3+2 beds/1+1 baths
– PARKING: 1 car garage + 3 driveway spaces
– BASEMENT: Finished in-law suite with kitchen, separate entrance, 2 bedrooms, and a bathroom. Raised, above-grade layout.
– SQFT: 1,051
– LOT: 53’ x 105’
– AGE: 1976
– PROPERTY TAX: $3,824 (2025)
– POSSESSION: Vacant on closing
– POTENTIAL RENT: $4,000-$4,100/month estimated combined
RENOVATIONS NEEDED:
– Cosmetic updates as desired.
– Consider legalizing the basement apartment for maximum value.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– House will be left in broom swept condition!
– Finished lower level in-law suite with separate entrance, kitchen, 2 bedrooms, and full bathroom
– Roof updated in 2024
– Estimated combined rents over $4,000/month
– Working in-ground pool in a family friendly neighbourhood
LISTING ID: 0826-SIM-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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