Fixer Upper for $389,900. Detached Brick Bungalow.

aaronmoore

Frequent Forum Member
REIN Member
Attention Flippers! Oshawa is hot and houses in this price range are being bought up quickly.

How can you profit?
1) Buy for $389,900k, renovate nicely, then sell for over $500,000.
2) Rent as a single family home. Or put in a basement apartment... but it may be tough to legalize it.
3) Realtors bring your clients who want an affordable fixer upper.

Realtors, we know its tough out there right now to find houses for buyers. We'll work with you on our private assignment sales. You will need to increase the price to your clients. But your clients will thank you for finding them a good deal.

SUMMARY:
- LOCATION: Oshawa, ON (Near Mary St N, between Adelaide & Hillcroft)
- PURCHASE PRICE: $389,900 Or Best Offer
- AFTER REPAIR VALUE: $500-$545k when nicely renovated (if you add bedrooms and a bathroom in the basement)
- CLOSING: Sept 30, 2020 (This is an assignment sale.)
- TYPE: Detached Brick Bungalow
- BEDS/BATHS: 2 Bed, 1 Bath (The future is 2+2 Bed, 2 Bath)
- BASEMENT: Unfinished
- PARKING: 2 spots on driveway
- SQFT: 793 sqft
- LOT: 38' x 101'
- AGE: 1949

RENOVATIONS NEEDED:
- The house has been maintained in a sense that what is "needed" to function has been fixed. It's not as if the house has been let go.
- Needs a substantial interior renos: kitchen, bathroom, flooring.
- Has some nice features like the preserved plaster crown molding.
- Signs of past basement leaks have been fixed or managed, per seller. Some additional grading around the foundation would help.
- Driveway needs to be paved.
- Central AC doesn't work.

GOOD NEWS:
- It’s a small house which means less sqft of materials to buy and a cheaper renovation.
- Upgraded electrical
- Mostly newer windows. But some of the smaller windows are old.
- Gas forced air heat
- Nice neighbourhood and good neighbours where price of ownership shows.

PICTURES and a bit more info are here: https://www.housedealsgta.ca/property/handyman-special-in-oshawa/
 
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