Four-bed corner townhome near UTSC, list $469,000, estimated 7.17% cap rate
A four-bedroom corner townhome at 100 Mornelle Court priced at $469,000 with an estimated 7.17% cap rate and positive carry across every leverage scenario. The unit sits minutes from the University of Toronto Scarborough campus and Centennial College, anchoring a student-and-staff rental pool.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$469,000
Cap rate
+7.17%
Est. monthly rent
$3,895
Source: comparables_widened
CF at 20% down
+$611/mo
first positive
Cash-on-cash
+6.80%
at 20% down
Section · Why this passed our floor
Where the income story is solid
Cap rate
7.17% — at or above our 4.0% cash-flow tier floor.
Breakeven leverage
20% down to clear neutral monthly carry. Below that the property runs negative; above it the carry compounds.
Positive carry at minimum down
Estimated $611 per month at 20% down, before tax-side considerations.
Rent backed by
Estimate sourced from city-wide comparables.
Every property published on 6Yield clears a multi-stage screen — universal financial floor, per-tier quality gate, and an editorial review on listing evidence. These bullets summarize the specific facts that cleared this property’s tier. Estimates only; not financial advice.
Section · Financial Reality
Five ways to buy. The math, side by side.
Each column shows the actual monthly cash flow and cash-on-cash return at that leverage. Click a column for the full breakdown.
Acquisition
| Down payment | $164,150 |
| Mortgage principal | $304,850 |
| Land transfer tax | $7,035 |
| Closing costs | $7,035 |
| Total acquisition | $178,220 |
Monthly cash flow
| Estimated rent | +$3,895 |
| Operating expenses | -$1,093 |
| Mortgage payment | -$1,780 |
| Net cash flow | +$1,022/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $195/mo |
| Maintenance reserve | $391/mo |
| Insurance | $195/mo |
| Property management | $312/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=6).
Breakeven
Cash-flow positive at any leverage. Rent covers expenses and any mortgage at the locked rate.
Run your own scenario
Move the assumptions. See the math live.
Live result
All figures are estimates only and do not constitute financial advice. The sliders use the same math as the locked five-scenario calculator; only assumptions change. Total acquisition includes the down payment, land transfer tax ($7,035), and closing costs ($7,035).
Section · Investment Thesis
Why this property.
The fit here is the cash-flow investor or portfolio builder who wants student-and-staff rental demand at a sub-$500,000 entry. List price is $469,000, estimated cap rate is 7.17%, and the property carries positive monthly cash flow at every down-payment level on the calculator. The mechanic is straightforward: a four-bedroom corner unit rented by-the-room or to a single household drawn from the University of Toronto Scarborough and Centennial College catchments, with two underground parking spots that command a premium in the complex.
Morningside sits inside a fixed-demand pocket of east Scarborough. The University of Toronto Scarborough campus and Centennial College Progress campus together anchor thousands of students and staff within a short commute, and Highway 401 access feeds the rental pool from across the GTA. Public transit, retail, and parkland are within walking distance of Mornelle Court, which keeps the unit competitive against purpose-built student housing. The corner-unit format with approximately 1,600 square feet, four bedrooms, and two renovated bathrooms is unusually well-suited to multi-occupant tenancies. The rare two extra-long underground parking spots, able to fit up to four cars, are a structural differentiator inside a complex where parking is typically constrained.
At 20% down the estimated monthly cash flow is $611.20 with a 6.80% cash-on-cash return, and at 35% down the estimate moves to $1,022.05 monthly at 6.88%. Recommended entry is 20% to 35% down for investors prioritizing cash-on-cash; cash buyers see an estimated $2,802.40 per month. Target hold is 60+ months to ride the student-housing demand curve while preserving optionality on resale.
Key features
- Four bedrooms, two renovated bathrooms
- Corner unit, approximately 1,600 sqft
- Renovated kitchen, laminate floors throughout
- Two extra-long underground parking spots (fits up to 4 cars)
- Walking distance to UTSC and Centennial College
- Direct access to Highway 401 and TTC routes
Original MLS description
Location! Location! Well Maintained and super clean corner unit 4 Bedroom townhome takes full advantage of abundant natural light. Approx 1600 Sqft. Laminate floors Thru-Out. This beautiful home features a renovated kitchen & two renovated bathrooms. Large Laundry room combined with storage area. Very Rare Two extra long Undergroud parking spots can park 4 cars. Close To U of T Scarborough Campus, Centennial College, Hwy401, Public Transit, Shopping And Park. (42781692)
All photos
23 additional · click any to expand
Section · Neighborhood
Where it sits.
Morningside
Morningside in east Scarborough is anchored by the University of Toronto Scarborough campus and Centennial College, both within a short commute of Mornelle Court. The corridor draws a steady student-and-staff rental pool, supplemented by households commuting via Highway 401 and TTC bus routes feeding Kennedy and Scarborough Centre. Retail and parkland are walkable, and the condo-townhouse format at this price point fills a niche between rental apartments and detached freeholds.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Condominium townhouse: monthly maintenance fees and special assessment exposure are not modeled in the fixed financials and will compress real-world cash flow
Rental demand is concentrated in the post-secondary student pool; vacancy risk rises if UTSC or Centennial College enrollment patterns shift
Estimated rent of $3,895/month is sourced from widened comparables and may not reflect achievable rent for this specific unit
Listed square footage shows 130 in the data feed while the description states approximately 1,600 sqft; verify floor area before underwriting
Multi-tenant or by-the-room rental strategies may require additional licensing and insurance not reflected in the underwriting