Who’s looking for a profitable property?
At only $299K this place has low carrying costs and lots of potential. As a single family home, there is an estimated $200K spread. Or you can convert to 2 units. Duplexes in the area have sold as high as $675K! There’s already a separate rear entrance, and the basement is finished with 2 bedrooms giving strong 2-unit potential.
The large lot will attract end users on resale making this a prime candidate for house hackers! While the smaller footprint keeps reno costs down. This is practical for buyers who want margin without taking on a massive house.
How can you profit?
Fix & Flip – Even dated properties are selling well over $400K and partially renovated comps selling in the high $400Ks. Properly renovated, with addition of 2nd unit, this property is expected to offer a $200K+ spread and ARV well into the mid $500s/$600s. Low buy price means low carrying costs. The large 50′ x 172′ lot adds extra buyer appeal.
Basement Conversion – For maximum resale, consider adding a basement in-law suite, or converting to a legal duplex. 2-unit comps in the area are selling well over $500K (check out the ARV legal duplex that sold for $675K!!!). The separate rear entrance, 2+2 layout, finished basement, and full height basement ceiling make this a strong conversion play.
Landlords / BRRRR – This one is built around investor fundamentals: low buy price, value-add reno, and strong rental upside after stabilization. After renos, rent the whole house $2,000-$2,500 or for max income, convert to 2 units and rent for $1,700-$2,100 for the main floor + $1,500-$1,800 for the lower level. That’s well over $3,000 / month in total rent.
SUMMARY:
– LOCATION: Orillia, ON (Westmount Dr N & Mississauga St W)
– PURCHASE PRICE: $299,900 Or Best Offer
– CURRENT MARKET (AS-IS) VALUE: XXXXX
– AFTER REPAIR VALUE: Beautiful 2-units are selling in the $535k-$675k range.
– CLOSING: May 28-Jun 18 (seller’s choice. This is an assignment sale.)
– TYPE: Detached Bungalow
– BEDS/BATHS: 2+2 beds/1+1.5 baths. (P.S. Main floor used to be 3 beds. Would you convert back?)
– PARKING: 4 cars in driveway
– BASEMENT: Finished basement with separate rear entrance, 2 beds/1.5 baths and full ceiling height. Great 2-unit conversion potential!
– SQFT: 622
– BIG LOT: 50’ x 167’. Can you add an ADU on this extra-deep lot?
– AGE: 1940
– PROPERTY TAX: $3,008 (2025)
– POSSESSION: Vacant
RENOVATIONS NEEDED:
– Cosmetic updates throughout (kitchen, baths, flooring, paint, etc.) but the smaller footprint keeps the scope practical.
– HVAC should be reviewed, as the property is currently heated by two fireplaces and has no furnace or AC.
– Possible addition of an in-law suite.
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– Large 50′ x 167′ lot with ADU potential
– Separate rear entrance for 2-unit conversion upside
– Originally a 3 bedroom layout, easy value-add angle for resale
– Smaller 622 sq ft footprint keeps the scope manageable
LISTING ID: 0326-ORI-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, Tomomi Wang, Josea Dussard, Tobias King & Georgia Godfrey
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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