+90k Under Market Value; Easy Lipstick Flip in A+ location with Large Profit Margin: 1597 Murphy Rd, Sarnia
✅ Wholesale Price: $498,999 (Or Best Offer)
✅ Estimated As-Is Value: ~$600K+
✅ Estimated After Repair Value: ~$740K+
✨Closing: September 12th, 2023
Why This Property?
- This is a phenomenal opportunity to purchase your next cosmetic fix and flip at a steep discount – 90k below market value
- There have not been any properties selling at this price in the nearby area and comparable are trading extremely high – a similar style house on the same street sold for 715k in May with only a partially finished basement. There is potential to hit a higher ARV with a fully finished basement and with consistent renovations on the subject property. Note the comp is renovated, but has some mismatched flooring and mismatched paint.
- A tiny bungalow nearby with only 762sqft above grade and even smaller basement sold for 575k in the slowdown of the market last year- and the property still required cosmetic renovations! This ensures that this property is a no brainer price for investors
- Great location in Sarnia- highly desirable location within close walking distance to lake and close proximity to local shops, golf, and schools
- The house is vacant upon possession – meaning that there will be little junk left behind; allowing you to save on junk removal and begin renovations quickly
- Mechanicals updated – AC (2021), hot water tank (2018 owned), breaker panels, etc.
- Quick lipstick renovations is all this needs to increase the value- perfect for today’s market environment where investors are looking for quick flips
✨Comparables:
1617 MURPHY Road- $715,000 (Sold May 2023)
1298 Cathcart Blvd- $575,000 (Sold Jun 2022)
914 Varsity Cres- $825,000 (Sold Nov 2022)
✨For full financial information, videos, and photos check out the link below:
https://mailchi.mp/ontariopropertydeals/1597-murphy-rd-sarnia-12706044