Wholesale Price: $175K (Or Best Offer)
Estimated As-Is Value: ~$215K
Estimated After Repair Value: ~$330+
Closing: June 17, 2022
Act now to secure this legal duplex in Thunder Bay Ontario for well under $200K! This is a great opportunity to revive a vacant property and force appreciation in a market that is poised for growth. BRRRR for days! The previous tenants paid a combined $1545 in rent – even minor upgrades will garner a rental increase that would ensure cash flow. Thunder Bay is the largest city in Northwestern Ontario (population over 100K) with major post secondary institutions and sustainable employment across multiple sectors, making it a great rental market for investors. There is a ton of potential here for an investor with the right tools to force major appreciation with a BRRRR or Flip. Check out the Photos and Video below and contact Peter today at 647 955 0843 to place an offer or learn more about this opportunity.
Thunder Bay is the most populous municipality in Northwestern Ontario with a population well over 100K. It is the administrative capital of the region and as such many of its largest employers are in the public (Government) sector. Forestry and manufacturing industries are strong and have been boasted recently by a “knowledge economy” based on medical research and education. It features 2 large post secondary institutions: Lakehead University, and confederation college. Thunder Bay scores particularly high for its employment level, housing prices, access to health care, ease of walking, biking or taking transit, and its strong arts and sports communities. The city also places #7 in a ranking of best places in the country for new Canadians to move to. It is a desirable city for landlords, as one of the few Ontario markets where the 10% rule can still be applied.
Comparables:
132 Northern Ave (Sold Aug 2021) $191,000
140 Northern Ave (Sold Sep 2021) $185,000
114 Northern Ave (Sold May 2021) $215,000
237 Southern Ave (Sold Apr 2021) $172,000
827 Minnesota Ave (Sold Aug 2021) $197,000
✨For full information, videos, and photos check out the link below:
https://mailchi.mp/ontariopropertydeals/211-southern-ave-thunder-bay-on