Who wants a mostly cosmetic flip with a $170K spread?
Buy at $580K with a stated $750K ARV and focus most of the work on updating the dated finishes. The roof, windows and siding were all replaced within the last few years, appliances are from 2023, and the basement is already finished, which keeps the project focused on the areas buyers will actually see. You also get a 1,462 sqft detached home on a 152-foot-deep lot, an attached garage, parking for 4 to 6 vehicles, and a backyard backing directly onto a park. For flippers, wholetail buyers and end users willing to update over time, multiple exit paths remain open.
How can you profit?
1) Easy Flip – Buy for $580K, modernize the dated kitchen and bathrooms, complete the cosmetic updates and target the stated $750K ARV. That gives flippers a $170K spread to work with without taking on a full interior gut, while several major exterior items have already been updated.
2) Easy Wholetail – The property is already functional and move-in ready, so you do not necessarily need to renovate everything to create a resaleable product. Clear it out, address the necessary repairs, clean it up and let the detached house, finished basement, deep lot, garage and park-backing location do the heavy lifting.
3) Move In With Equity – End users can buy at $580K and update the kitchen, bathrooms and finishes on their own timeline. Compared with the stated $750K after-repair value, there is substantial room between the purchase price and finished value without requiring buyers to take on a major renovation immediately.
4) Realtors: Bring Your Clients – This is a practical option for clients who want a detached home and do not mind dated finishes. At $580K, they can get 1,462 sqft, a finished basement, attached garage, deep backyard and several recent big-ticket updates, then improve the interior over time.
SUMMARY:
– LOCATION: Cobourg, ON (D’Arcy St & King St E)
– PURCHASE PRICE: $580,000 Or Best Offer
– AFTER REPAIR VALUE: $750,000
– CLOSING: October 15, 2026 (This is an assignment sale.)
– TYPE: Detached side-split single-family home.
– BEDS/BATHS: 3 beds / 2 full baths
– PARKING: Driveway parking for 4–6 vehicles plus attached 1-car garage.
– BASEMENT: Finished basement in good condition.
– SQFT: 1,462
– LOT: 38.24′ x 152.07′
– AGE: 1969
– PROPERTY TAX: $5,595 (2025)
– POSSESSION: Not provided
RENOVATIONS NEEDED:
– Cosmetic updates throughout, particularly the dated kitchen and bathrooms.
– Back deck may need replacement.
– Minor repairs and general cosmetic refreshing.
– Reported potential vermiculite insulation in the attic should be investigated and remediated if confirmed.
– Furnace dates to 2005. Buyer should assess its remaining life.
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
PICTURES are here: https://www.housedealsgta.ca/property/off-market-homes-for-sale-cobourg
GOOD NEWS:
– $170K spread between the $580K purchase price and stated $750K ARV
– Roof, windows and siding replaced within the last few years
– Appliances new in 2023 and central A/C installed in 2016
– Finished basement plus natural gas fireplace
– 152-foot-deep lot backing directly onto a park, with attached garage and parking for 4 to 6 vehicles
LISTING ID: 0926-COB-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