This is a phenomenal opportunity to purchase your next profitable flip or BRRRR project in Cornwall. This property is vacant upon possession, allowing investors to immediately begin strategic renovations and also has the widest backyard of any other property in this street (159ft) making it very desirable for first time home buyers to renters. This property requires cosmetic work to make it comparable to other sold properties and with higher end finishes, we believe this property can fetch 400k in value. Don’t miss your chance to purchase your next flip or BRRRR at a very affordable price!
Summary:
This is a rare opportunity to enter the real estate market with an amazing BRRRR or Flip opportunity at a very affordable price!
Take advantage of this undervalued property in Cornwall ready for your cosmetic renovations and perfect for a flip or BRRRR for investors of all experience levels. Located in a quiet residential circle/court and walking distance to many amenities including a 3 minute walk to Leduc Shopping Centre, 8 minute walk to Adam’s Park, and within a 15 minute walk to grocery stores, this property is the perfect location for families. Cornwall is an up-and-coming city being close proximity to two major cities- namely Ottawa and Montreal (approx. 1hr drive from each city). This city is poised for long-term appreciation as prices continue to shoot up in these two major city hubs.
This property is ready for your cosmetic finishes! There are many major upgrades made to the property including a newer furnace, 200amp panel, newer and owned hot water tank, and shingles that have been replaced less than 5 years ago. There is a separate entrance to the basement boasting ~7ft ceiling height of unfinished space. Moreover, the property size and backyard is bigger than other comparable properties that sold around the area by ~500sqft to the closest sold properties, as well as having a larger backyard width (over 150ft). Note the seller turned off water as the house is vacant and they are looking to save money. They have placed tubs in the house filled with water so that they can save on water expenses all together.
Cornwall is one of the most affordable real estate markets in Ontario right now, but this won’t last for long! With close proximity to two major cities, this city is poised for long-term growth. This is you chance to break into the real estate market with a highly profitable investment and with no bidding wars!
Property Features:
- Single family home
- 3 bedrooms + 2 bath
- Above grade sqft 1,324 (per MPAC)
- Unfinished basement sqft 1,061sqft (per MPAC)
- Basement height very high, over 7ft
- Basement has separate entrance and is unfinished
- Zoning: RES20 (per MPAC)
- Attached garage – 209sqft (per MPAC)
- Year build 1958 (per MPAC)
- Lot size: 52ftx (frontage) ~80ft (depth) x 159ft (rear yard)
- Hot water tank – owned 6 years
- Furnace owned and approx.. 6 years (per Seller)
- A/C gas forced air
- Plumbing copper & PVC (Permits received and closed for plumbing updates)
- Roof – asphalt shingles, less than 5 years old (per Seller)
- Electrical – copper & 200amp
- Basement has backwater valve
- Note the water tubs in the property is because the property is now vacant and the seller has turned off water supply to save money and uses water from the tubs from time to time
- Gazebo in backyard