Get your hands on the cheapest active listing in Sturgeon Falls in a quiet neighbourhood and with easy BRRRR potential. This property is perfect for first time investors or investors with a limited budget looking to break into the market with a property that cash flows and allows for easy renovation upside potential. Sturgeon Falls is in the West Nipissing district, nestled between Sudbury and North Bay.
Summary:
Take advantage of this opportunity to purchase an undervalued single family home in Sturgeon Falls! This property is currently in great condition overall; however, is ready for basic cosmetic renovations to further drive value in the property. Located in a quiet and highly desirable area of Sturgeon Falls, this property is attractive to many local tenants and homebuyers alike. Other properties around the area have sold for mid to high $200,000 with potential to hit $300,000+ if fully renovated.
This property is in a neighbourhood in Sturgeon Falls. There is an ample mix of home owners and renters in this area, and single family homes trade over $250,000. This property is less than 5 minutes walk to the Great Northern Flea Market, several retail and local restaurants down the main busy street (Front Street). This area will attract families around the local area due to the proximity of many food/restaurants and entertainment amenities.
According to the CMHC Oct 2020 consensus, Sturgeon Falls had a vacancy rate of 0.5%, meaning there is ample tenant selection to choose from. Moreover, the property is located between two large city centres (North Bay and Sudbury).
This your opportunity to break in the real estate market with an undervalued property and strong cash-flowing assets with tons of upside potential and in a market with a low vacancy rate. Moreover, there are no bidding wars!