Who’s looking for a profitable property?
This detached bungalow on a big 60’ x 111’ lot is your chance to create serious value in Peterborough’s desirable North End. Buy for just $449K and build equity fast by converting the finished basement into a legal second suite. With plenty of comps in the mid $600s and even $700s, there is strong upside for flippers and landlords alike.
The layout’s perfect for a duplex: 3 beds and a full bath up, 2+1 beds and another full bath down, with a separate side entrance already in place. Add a basement kitchen and some cosmetic upgrades, and you’re holding two rentable units in a mature, high-demand rental zone near Trent University, bus routes, downtown, and parks.
Investors—this is a textbook BRRRR, duplex conversion, or light flip play in a city seeing steady growth. End users—you could even house hack or move in and finish the basement over time.
How can you profit?
1) Legal Duplex Conversion: Add a kitchen downstairs, legalize the basement, and you’ve got a 2-unit rental in a high-demand North-end area. Ideal setup for long-term tenants! Market rents for a legal 3+2 are around $2400 + $1700 = $4100/month, plus utilities.
2) Student Rental: With 6 sleeping areas (3 beds + 2 beds + den), this would be a profitable student rental at $800-$850/room ($5k+/month). Keep your reno budget minimal instead of going all-out to rent to students.
3) Fix & Flip: Buy for $449k, update, and sell in the high $600s. You might even touch the $700s with a nice reno!
SUMMARY:
– LOCATION: Peterborough, ON (Cumberland Ave & Hilliard St)
– PURCHASE PRICE: $449,900 Or Best Offer
– AFTER REPAIR VALUE: Mid $600s at least. Even unrenovated properties are selling in the mid $600s! A beautifully renovated property nearby sold for $725k in March.
– CLOSING: July 16, 2025 (Likely flexible. This is an assignment sale.)
– TYPE: Detached Bungalow
– BEDS/BATHS: 3+2 beds+1 den/1+1 bath
– PARKING: 3 cars (tandem). Would be easy to widen driveway for side-by-side parking instead.
– BASEMENT: 2 beds + den / 1 full bath. Add a kitchen and convert to a legal second unit!
– SQFT: 1,189
– LOT: 60’ x 111’
– AGE: 1960
– PROPERTY TAX: $3,868 (2024)
– POSSESSION: Vacant
RENOVATIONS NEEDED:
– Ready for cosmetic updates on the main floor!
– Consider converting the basement to a legal 2nd unit.
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– Prime north-end location
– Legal 2-unit conversion is very doable with existing layout
– Extra-wide lot offers long-term upside
LISTING ID: 0525-PET-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, Aaron Moore & Tomomi Wang
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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PS. Email us today for your info package. Who wants to make money on this one?