Rita Street, Hanmer
Offer Date: FIRST COME FIRST SERVED
Closing Date: April 30th, 2026** Realtors bring us a client and add your commission on top of the purchase price**
Strategies For Success
- FIX & FLIP: Complete the remaining renovations with a focus on drywall, remaining electrical work, exterior siding, and clean, modern finishes throughout to complement the already upgraded systems and new kitchen. Leverage the high basement ceiling height to create a functional living space and maximize resale value.
Details
- Detached Bungalow
- Beds: 3 (As Per MPAC)
- Baths: 2
- 2 full bathrooms, 1 on main floor, 1 in the basement
- 936 sqft above ground & 936 sqft below grade
- The basement was dug out and cement was repoured.
- New insulation installed throughout the house
- Exterior surfaces has brand-new plywood installed
- Significant portion of the property requires new drywall
- Built in 1957
Mechanical & Systems
- Electrical: Breaker panel (100 amp)
- 90% of electrical work throughout the home has been completed
- Furnace: Owned, original to 2014
- A/C: Rented, Central air, 12 years old
- HWT: New tankless heater, Rental, to be assumed by Buyer
- Appliances included: Fridge, Stove, Washer, & Dryer in as is condition
- Brand New Kitchen
Roof & Exterior
- Roof: 20 years old
- Siding: Needs new siding, as the old siding was removed to reinsulate the home
- Windows: All brand new
Lot & Location
- 60.05 ft x 125 ft lot
- Property taxes are approximately $2,656
- R1-5 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 opportunity.
- Wholesale Price: $264,999 or Best Offer
- We believe that after the recommended renovations are completed, this property should be worth at least $450,000 on the market!
- Purchase today for $185K SPREAD TO ARV!
Comparable Analysis |
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| 185 Eva Street sold for $450,000 20 days ago after only 5 days on the market, demonstrating strong demand for bungalow product in this price range. This comparable has been well maintained but is dated, whereas the subject property, while currently mid-renovation, will offer significant value upon completion with 9–10 ft ceilings, new windows, upgraded insulation, mostly completed electrical, and a brand-new kitchen. After completing the recommended renovations and making the appropriate adjustments, we believe the subject property should sell for $450,000 on the market! |
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| 1158 Mederic Street sold for $520,000 one month ago after only 7 days on the market, further supporting strong demand for updated bungalow product in Hanmer. While it features a similar size range and an upgraded interior with a 2+3 bedroom, 2 bathroom layout, the subject property offers comparable overall utility with 3 bedrooms and 2 bathrooms, and with 9–10 ft ceilings, which significantly enhances livability and future income potential. After completing the recommended renovations and making the appropriate adjustments, we believe the subject property should sell for $450,000 on the market! |
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| 6122 Highway 69 North sold for $395,000 two months ago after only 9 days on the market, representing a lower benchmark due to its inferior condition, location on a main street and only 1 bathroom. While the property has seen some improvements, it does not reflect a true renovated end product, whereas the subject property offers 2 full bathrooms, a high-ceiling basement with added functional potential, and several key upgrades already completed, positioning it more competitively. After completing the recommended renovations and making the appropriate adjustments, we believe the subject property should sell for $450,000 on the market. |
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