Why build a garden suite when this $319k property already has one?
Here’s a fantastic opportunity to have 2 homes on an almost 1-acre lot. Options to flip, rent, BRRRR, 3-unit conversion or Airbnb. Home #1 is a 3-bed, 1-bath bungalow with full basement that has conversion potential. House #2 is a 2-bed 1-bath bungalow on slab. An extremely central location between Trenton, Belleville, P.E.C., the airbase and the 401. Less than 2 hours from Toronto.
How can you profit?
1) Rent it! You have two houses that will get premium rents compared to renting apartments in a house. You can even add a third unit in the basement of House #1. It’s a great area with low rental supply.
2) Flip it! Large $250-300k spread possible when you buy 2 houses for $319K!
3) Short-Term Rentals! This area is soaring in popularity for cottagers, weekenders, and short-term rentals because it is so close to Prince Edward County and wineries.
4) Move In/House Hack – live in one house and rent the other! Let someone else pay your mortgage.
5) Realtors! Bring us someone who’s not afraid of renos and we’ll pay you 2.5%! Perfect for multi-generational families.
SUMMARY:
– LOCATION: Trenton/Quinte West, ON (About an hour east of Durham Region at Old Hwy 2 & Whites Rd)
– PURCHASE PRICE: $319,000 – First Come First Served (Includes 2.5% Co-op for realtors)
– AFTER REPAIR VALUE: mid-$500s and maybe over $600,000 since there’s two houses. Some unrenovated single family homes in the area are selling in the mid $500s. How much more could you get with two houses on the lot?
– CLOSING: December 18, 2024 (This is an assignment sale.)
– PARKING: 4 car driveway spaces
– BIG LOT: 200’ x 196’… almost 1 acre!
– PROPERTY TAX: $2,912 (2024)
HOUSE #1
– TYPE: Detached Bungalow
– BEDS/BATHS: 3 Beds/1 Bath
– BASEMENT: Full height (w/ conversion potential!)
– GARAGE: 1 car
– SQFT: Around 1000 sq ft
– AGE: 1960
– HEAT: Electric
– RENOVATIONS NEEDED: needs a roof and full cosmetic renos, plus junk & furniture removal.
HOUSE #2
– TYPE: Detached Bungalow
– BEDS/BATHS: 2 Beds/1 Baths
– BASEMENT: None. On concrete slab.
– GARAGE: 1 car
– SQFT: Around 800 sq ft
– AGE: 1960
– HEAT: Electric
– RENOVATIONS NEEDED: requires a full renovation, except maybe for windows. Plus junk & furniture removal.
GOOD NEWS:
– Well report and 2-chambered septic in place.
– Multiple ways to add value here for a savvy/creative renovator or investor.
– Almost an acre, with TWO HOUSES on it. For only $319k!
LISTING ID: 1124-TRE-F01
Please reply to this email to request an 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