If you like the “Haunted House” look for your next home, then perhaps the home on Mill is a good one for you.
Bonus: You may be able to gain extra income from the next Scooby Doo movie filming on location.
But in all seriousness, there is upside here. If you improved the inside, I could see it easily being worth $600k+. And if it is around 2,000 square feet, a reasonable estimate for a gut job is somewhere around $100 per square foot. All in, it might be a great way to get the home of your dreams without paying the “model home” premium.
And when it comes to Tenants living in a home, be careful. The home on Thompson has a Tenant you must assume until July 15th, because you can’t break a lease on a sale. Even then, nothing is guaranteed and you can’t “force” vacant possession.
If a Tenant doesn’t leave, there’s a rather long and convoluted process to evict them. Ontario is very friendly to Tenants, and Landlords’ rights are not as protected as other parts of the world.
Long-time followers of MDH will also understand this – you can’t believe everything in a listing. Appleby Road is 5-minutes from Walmart? Maybe by helicopter, but not by road. Do your homework and verify everything.
To be successful in this market, you need to be educated. That’s why you should come to the Buyer Class on Saturday at 10 AM.