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Ingleside Dr, Kitchener
Offer Date: FIRST COME FIRST SERVED
Closing Date: April 9th, 2026
*This property is currently tenanted. The tenants occupy the full basement apartment. The Buyer is to assume both tenancies:
(1) Basement bedroom at $415/mth, cash paying, all inclusive
(2) Basement bedroom at $415/mth, cash paying, all inclusive
The Seller has not began any conversations with the tenants regarding vacant possession. It is the Buyer’s responsibility to manage vacating the tenants*
** Realtors bring us a client and add your commission on top of the purchase price**
Strategies For Success
- Fix & Flip: Come in, negotiate with the tenants and complete a full interior cosmetic renovation! With high ticket items such as the Roof, Furnace and Hot Water Tank all being replaced within the last 5 years, an investor can focus on the cosmetics and really increase the value! Also, reselling with a basement apartment is a HUGE plus in this market!
- Duplex: With a basement kitchen and 2 bedrooms currently in place, a buyer can come in, vacate the property, renovate and enjoy the cash flow! Luckily this price point allows an investor to choose the strategy they feel aligns with their goals!
Details
- Semi-detached bungalow
- Beds: 3+2
- 3 bedrooms upstairs
- 2 bedrooms in the basement
- Baths: 2
- 1 full bathroom on the main floor
- 1 full bathroom in the basement
- 1,031 sqft above ground & 1,031 sqft below grade
- Finished Basement Apartment, approx. 7ft ceiling height throughout the basement
- Some areas are approx. 6ft 2″ under bulkhead
- Separate entrance to basement
- Full kitchen, 3-piece bathroom and 2 bedrooms
- Built in 1973
Mechanical & Systems
- Electrical: Breaker panel (100 amp) with copper wiring
- Some electrical issues with back 2 bedrooms (seller unsure if it is a wiring issue as it is the only two bedrooms in the house without hydro)
- Furnace: Owned, installed in 2021
- A/C: Owned, installed in 2018 as per seller
- HWT: Rental, to be assumed by Buyer, 2022
- Appliances included: Fridge, Dishwasher, Stove, in as is condition
Roof & Exterior
- Roof: Replaced in 2022
- Windows: Replaced in 2018 as per seller
Lot & Location
- 30 ft x 100 ft lot
- Property taxes are approximately $3880
- RES-4 Zoning
Important Notes
- Seller has the option to leave junk behind—budget recommended for junk removal
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| The Numbers
We are selling our assignable purchase contract for this excellent Fix & Flip or Duplex opportunity.
- Wholesale Price: $369,999 or Best Offer
- Adjusting for the fact that this property is tenanted, we believe the current market value is $470,000. Purchase today for a $100K SPREAD FROM MARKET VALUE!
- We believe that after the recommended renovations are completed, this property should be worth at least $600,000 on the MLS!
- Purchase today for $230K SPREAD TO ARV!
Comparable Analysis |
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| 11 Ingleside Drive sold for $595,000 only 8 days ago! This comparable property has 4+1 bedrooms, 2 bathrooms, no garage and has received a moderate renovation. This comparable is a semi-detached 2 storey, whereas the subject property is a semi-detached bungalow with a separate entrance to a basement apartment. After completing the recommended renovations and making the appropriate adjustments, we believe the subject property should sell for at least $600,000 on the MLS! |
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| 96 Shadeland Crescent sold for $535,000 in AS-IS condition on the MLS only 21 days ago! This semi-detached 2-storey comparable has 4 bedrooms, 2 bathrooms, a 1 car attached garage and has never received a renovation. In comparison, the subject property does not have an attached garage or sit on a pie shaped lot, however the subject property does have a finished basement apartment with a separate entrance. Additionally, this comparable is a semi-detached 2-storey, whereas the subject is a semi-detached bungalow, making the subject superior in comparison. After making the appropriate adjustments for the subject property being tenanted, we adjusted our as-is value to $470,000. However – once the subject property is vacant, we believe this as-is value is much higher. |
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| 125 Ingleside Drive sold for $510,000 only 13 days ago! This comparable property has 3 bedrooms, 2 bathrooms, a 1 car attached garage and has never been renovated. In comparison, the subject property does not have an attached garage, but does have a finished basement apartment with a separate entrance. Additionally, this comparable is a semi-detached 2 storey whereas the subject property is a semi-detached bungalow. After making the appropriate adjustments for the subject property being tenanted, we adjusted our as-is value to $470,000. However – once the subject property is vacant, we believe this as-is value is much higher. |
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