75K Undervalued Home in a Great Thunder Bay Neighborhood. Duplex Conversion, Flip, BRRRR Potential! 401 Pineview Bay, Thunder Bay For Sale

75K Undervalued Home in a Great Thunder Bay Neighborhood. Duplex Conversion, Flip, BRRRR Potential!

401 Pineview Bay, Thunder Bay 

✅ Wholesale Price: $241K (Or Best Offer)
✅ Estimated As-Is Value: ~$315K+
✅ Estimated After Repair Value: ~$400K+


Offer Deadline: Sept. 23, 2022

Closing: Oct. 17, 2022

 

Why This Property?

  • Instant equity + Huge potential: Comparable homes in the Northwood are currently selling btwn 310K-350K (see recent comps below). As these homes are not fully renovated, there is room for much higher valuations, in fact a similar style home that has been fully renovated is listed on Thunder Bay Realy sites currently at 439K, and it doesn’t have a completed in law suite. 
  • Duplex Conversion: Basement has a second entrance, partially finished kitchen, and 8ft ceilings
  • New Thunder Bay zoning guidelines passed in April allow for legal second units in all Urban Low Rise areas (former R zones)
  • Quick close + vacant possession = minimal holding costs
  • Desirable Northwood neighborhood is quiet and low density, but also centrally located, near to large parks, shopping centres, schools etc. and 10min drive to University and Airport

 

Comparables:

🏷116 Inglewood Cres – $307,500 (Sold August 2022)

🏷680 James St N – $350,000 (Sold July, 2022)

🏷193 Ironwood Ave – $346,000 (Sold July, 2022)

🏷444 Sycamore Pl – $342,100 (Sold July, 2022)

 

For full financial information, videos, and photos check out the link below:

https://mailchi.mp/ontariopropertydeals/401-pineview-bay-thunder-bay-11545460-last-call-and-price-reduction

Address:
Terms:
For Sale
Property Type:
Apartment

Call 647-955-0843 for more details