1.75-Storey Fixer-Upper Special in Gilmour!! Assigned

  • $190,000
  • 3 beds
  • 2 baths
  • 1628 sqft
Assigned

Located in the heart of Gilmour, this detached, 1.75-storey is one of the largest properties in the central area priced lower than a bungalow half its size!! Featuring over 1600 square feet of above grade space, 3 bedrooms, 2 full bathrooms, 3 separate entrances, a crawl space over 7 ft tall, a detached, 1-car garage and many partial updates, this property is the perfect opportunity to profit on a fixer-upper for the price of a studio bungalow. Close to Bancroft, Belleville and Peterborough with beautiful cottage territory all around, this is an ideal location for an income-producing rental, or for a single-family flip. The average residential sale price in the Bancroft/Gilmour/Northeastern area of Ontario is $749,955 according to the Ontario Real Estate Association, up 35% over this time last year!! At only $190,000 you can’t pass up the opportunity to invest in this perfect flip opportunity!!

We are selling our assignable purchase contract.

Closing is October 14th, 2021
*As per our APS, the Seller may stay in the property for a maximum of 3 calendar days after closing. The Buyer and Seller agree that the amount of $10,000 CAD will be held back from the sale proceeds (to be held in trust with the Buyer’s lawyer, until the Seller vacates). If the Seller does not vacate within the 3 days allotted after closing, the $10,000 CAD holdback will not be provided to the Seller, but rather will be forfeited to the Buyer on the 4th calendar day following closing.*

**As per our APS, the Buyer agrees to reimburse the Seller for the Seller’s legal costs amounting to a maximum of $1500 CAD.**

PROPERTY FEATURES
Please note: This property has not been viewed in person by our Acquisition Rep. The Buyer is to verify all below information and do their own due diligence.
  • 1.75-storeys (2 full storeys, as per MPAC)
    • Based on the look of the house and size of the second storey, we believe that this is closer to a 1.75-storey property, as opposed to a full, 2-storey property (Buyer to verify)
  • 3 bedrooms
    • First bedroom has no electrical, apart from 1 light (as per Seller)
    • There is water damage in the third bedroom. The Seller believes that it has been temporarily repaired but will need proper fixing as well as cometic renovations (as per Seller)
  • 2 full bathrooms
    • 3-piece bathroom located on the main floor
      • This bathroom is undergoing renovations that will not be completed before closing 
    • 4-piece bathroom located on the second floor
      • Second floor bathroom was updated 4-5 years-ago with jacuzzi tub, and toilet was updated 3-years-ago (as per Seller)
  • Built in 1919
  • Above grade: 1628 sq ft (as per MPAC)
    • First floor: 921 sq ft
    • Second floor: 707 sq ft
  • Crawl space
    • Ceiling height is ~7 ft (as per Seller)
  • Separate entrances: (Buyer to verify)
    • Front door opens into the mudroom
    • Back door leads from the kitchen to the backyard
    • Side door also leads to the kitchen
  • All appliances will be included 
  • Woodstove with cooktop in the dining area is in addition to the regular stove (as per Seller)
  • Flooring:
    • Dark laminate in dining room was installed 8-years-ago (as per Seller)
    • Stairs and entire second floor are hardwood that has been painted over (as per Seller)
    • Tile in the bathroom (as per Seller)
  • Laundry is located off of main floor bathroom
  • Dropped ceiling in entrance way is 7-years-old (as per Seller)
  • Most walls are plaster (as per Seller)
  • Some paneling is missing in the living room (as per Seller)
  • Mudroom:
    • Is all panelling and drywall (as per Seller)
    • No insulation (as per Seller)
    • Ceiling has dipped from moisture (as per Seller)
  • Hole in kitchen ceiling is from a burst bathroom pipe that was replaced 6-years-ago
    • There are no more plumbing issues but ceiling needs to be cosmetically repaired (as per Seller)
  • 200 AMP breaker panel (as per Seller)
    • Seller does not believe the electrical is knob & tube, but cannot verify (Buyer to verify)
  • HE propane furnace is owned, and was installed 6-7 years-ago (as per Seller)
  • HWT is owned, and was installed 15-years-ago (as per Seller)
  • AC is owned, and is approximately 5-6 years-old (as per Seller)
    • Listed as no AC (as per MPAC)
    • Additional AC window unit on the second floor (as per Seller)
  • Roof was last updated 10-years-ago (as per Seller)
  • Bathroom, kitchen and living room windows were updated 7-10 years-ago, but all others are an unknown age (as per Seller)
  • Doors updated 10-years-ago (as per Seller)
  • Storage shed (as per Seller)
  • Septic tank was last emptied 6-years-ago (as per Seller)
    • Pump was last replaced May/June of 2021 (as per Seller)
  • Drilled well (as per Seller) 
  • Chimney is cleaned yearly (as per Seller)
    • We believe that this is for the woodstove on the property (Buyer to verify)
  • 1-car, detached garage built in 1930 (565 sq ft, as per MPAC)
  • Parking for 3-4 cars on driveway
  • Property taxes: ~$1200/year (as per Seller)
  • Lot size: 88 ft x 140 ft (as per MPAC)
    • The property line continues 8-9 ft past the backyard fence into the ravine (as per Seller)
  • Site area: 0.50 A (as per MPAC)
  • Zoning: RR (as per MPAC)

PROPERTY NEEDS

  • Cosmetic updating
  • Deck has rotted and either needs to be replaced or removed (as per Seller)

 

Please click HERE for more pictures and information.

Price:
$190,000
Address:
Sutton Rd & Weslemkoon Lake Rd
Gilmour, ON
Square Feet:
1628
Lot Size:
88 ft x 140 ft
Bedrooms:
3
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1919
Basement:
Crawl space

Call (647) 400-2093 for more details

Property Location