Brick Raised Bungalow on a Corner Lot in Midland!! Assigned

  • $570,000
  • 3 beds
  • 2 baths
  • 1618 sqft
Assigned
Profit — that’s all you’ll be seeing when you view this early 2000’s brick raised bungalow on a prime corner lot in Midland!! Nestled between Little Lake and Georgian Bay with all amenities, schools, and highways close by, this large property is brimming with potential!! Featuring 3 bedrooms, a finished basement with separate entrance via the 2-car, attached garage (can you say in-law suite?!), a 4-piece master ensuite with jacuzzi tub, updated flooring in 2 of the bedrooms (with flooring included for the master — to be installed), new appliances, new roof, as well as the opportunity to add a back patio, this property is an absolute steal at only $570,000 (less than older properties!). The average detached, 3 bed in Midland sells for $748,000, up 27% over this time last year. Don’t let this smoking deal pass you by!!

We are selling our assignable purchase contract.

Closing is December 3rd, 2021
**As per our APS, the seller will be permitted to lease back the property for no later than 60 calendar days after closing. The rate will be $3000/month (excluding utilities, which shall be in the tenant’s name) calculated at a pro-rated basis. The Buyer and Seller agree that the amount of $8000 CAD will be held back from the sale proceeds (to be held in trust with the Buyer’s lawyer, until the Seller vacates) as compensation for the Sellers’ monthly rent. If the Seller does not vacate within the 60 calendar days allotted after closing, the $8000 CAD holdback will not be provided to the Seller, but rather will be released to the Buyer on the 61st calendar day following closing. Once the Seller has vacated the property, the remaining balance, if any, of the holdback shall be released to the Seller within 2 business days.**

PROPERTY FEATURES
  • 3 bedrooms
    • Master bedroom features a walk-in closet and a 4-piece, ensuite bathroom
  • 2 full bathrooms (3 full bathrooms, as per MPAC)
    • 4-piece master ensuite located on the main floor
    • Additional 4-piece bathroom located on the main floor
  • Built in 2006
  • Above grade: 1618 sq ft (as per MPAC)
  • Basement: 1618 sq ft (as per MPAC)
  • Separate entrances:
    • Front door opens to main entrance way
    • Sliding doors in the kitchen lead out to the backyard
      • Back patio will need to be installed, as construction was started but not finished. For this reason, you currently have to jump down to get into the backyard, as there is no patio/step for you to step out onto (as per Seller)
    • Door in the attached garage opens directly into the basement
  • Flooring: tile, hardwood (living room), laminate (bedrooms), carpeting
    • Flooring in the bedrooms was updated in 2021, except for the master bed; flooring for the room is ready to be installed and will be included (as per Seller)
  • Fresh paint and new baseboards added 2021 (as per Seller)
  • All appliances will be included
    • New appliances (fridge, stove, dishwasher, washer, dryer) were purchased 1.5-years-ago (as per Seller)
  • 100 AMP breaker panel
  • HE gas furnace is owned, and is original from 2006 (fan was updated in December 2020, as per Seller)
  • HWT is owned, and was installed in either 2014 or 2016 (as per Seller)
  • Water softener will be included (as per Seller)
  • No central AC (as per Seller)
  • All windows are original (as per Seller)
  • Roof was updated 1.5-years-ago (as per Seller)
  • On municipal services
  • Property taxes: ~$3200/year (Buyer to verify)
  • 2-car, attached basement garage with access leading directly into the basement (as per Seller)
  • Parking for 4-6 vehicles in driveway (as per Seller)
  • Corner lot: 50.84 ft x 100.8 ft (as per MPAC)
  • Zoning: RS2 (as per MPAC)
    • Based on this Interactive Zoning tool, this property is actually zoned R3. As per the Midland Zoning Bylaw, permitted uses in the R3 zone include, but are not limited to: accessory building, home occupation, duplex dwelling unit, detached and semi-detached dwelling units (see HERE, section 5.3)

PROPERTY NEEDS

  • Cosmetic updating

 

Please click HERE for more pictures and information.

Price:
$570,000
Address:
Irwin St & Yonge St
Midland, ON
Square Feet:
1618
Lot Size:
50.84 ft x 100.8 ft
Bedrooms:
3
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
2006

Call (647) 400-2093 for more details

Property Location