Quick and Easy Lipstick Flip in A+ North Bay Neighbourhood. Neighbour’s House Just Sold for 530K! 800 Block Eastwood Ave, North Bay
✅ Wholesale Price: $399K (Or Best Offer)
✅ Estimated As-Is Value: ~$480K+
✅ Estimated After Repair Value: ~$550K+
✨Closing: November 15th, 2023
Why This Property?
- Get this easy lipstick flip for less than 400k where the literal neighbour’s house sold for $529,900 just one month ago! Both houses in very similar condition and layout; however, subject property has a 40% larger lot than the neighbour’s house!
- This raised ranch bungalow property is located in a very desirable neighbourhood in North Bay where houses regularly trade for premiums and there is lack of listings, especially for renovated properties. This allows flippers to have a highly desirable property in a desirable location where many buyers are searching for
- This property is a quick and easy flip – requiring lipstick renovations. The comparable property that sold for 530k still requires lipstick renovations as well- meaning that the subject property can likely sell north of 550k once renovated
- Investors can choose to wholetail the property as well to take advantage of the instant spread on the property.
- Large property – two living rooms, 2 beds above grade and 2 beds below grade
- Within 0.5km of the subject property over the past 6 months, there have been 11 sales for detached homes here. 10 of the sales sold for over 430k+; over 50% of the sales were over 500k; almost 40% of homes sold for 570k+
- 806 Eastwood Ave- $529,900 (Sold Jul 2023)
- 2490 Connaught Ave- $600,000 (Sold Jun 2023)
- 682 Laurentian Ave- $515,100 (Sold Jun 2023)
✨For full financial information, videos, and photos check out the link below: