Legal duplex in Oshawa Lakeview: 4 beds, 2 baths, listed at $569,990 with 4.51% cap rate
Registered legal duplex with a self-contained one-bedroom basement apartment and shared laundry, priced at $569,990 in Oshawa's Lakeview neighbourhood. Estimated 4.51% cap rate on $3,450 projected monthly rent, with breakeven near 35% down.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$569,990
Cap rate
+4.51%
Est. monthly rent
$3,450
Source: comparables_widened
CF at 50% down
+$504/mo
first positive
Cash-on-cash
+1.90%
at 50% down
Section · Why this passed our floor
Where the income story is solid
Cap rate
4.51% — at or above our 4.0% cash-flow tier floor.
Breakeven leverage
35% down to clear neutral monthly carry. Below that the property runs negative; above it the carry compounds.
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 | $209,650 |
| Mortgage principal | $389,350 |
| Land transfer tax | $8,985 |
| Closing costs | $8,985 |
| Total acquisition | $227,620 |
Monthly cash flow
| Estimated rent | +$3,450 |
| Operating expenses | -$1,197 |
| Mortgage payment | -$2,274 |
| Net cash flow | -$21/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $173/mo |
| Maintenance reserve | $499/mo |
| Insurance | $250/mo |
| Property management | $276/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=33).
Breakeven
This property turns cash-flow positive at 32.3% down.
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 ($8,985), and closing costs ($8,985).
Section · Investment Thesis
Why this property.
This listing fits a cash-flow investor or portfolio builder who wants a turnkey two-unit income property under $600,000. The legal duplex status removes the regulatory risk that follows uncertified secondary suites in Durham Region, and the layout is already income-ready: a three-bedroom main and upper configuration over a self-contained one-bedroom basement apartment. At $569,990 with an estimated 4.51% cap rate and $3,450 in projected monthly rent, the thesis is straightforward income, not appreciation speculation or renovation lift.
Lakeview sits in south Oshawa between Simcoe Street South and Harmony Road South, anchored by the Oshawa GO station on the Lakeshore East line and the Highway 401 interchange at Ritson Road. Tenant demand in this corridor is supported by Ontario Tech University and Durham College commuters to the north, Ontario Power Generation and Lakeridge Health employment to the south, and the General Motors Oshawa Assembly footprint to the west. Detached freehold inventory under $600,000 with two registered units is the scarce product in this submarket; most competing duplex stock is unregistered conversions that carry insurance and financing friction.
Leverage sensitivity is high. At 20% down the property runs an estimated monthly cash flow of -$545.81; at 35% down it is essentially breakeven at -$21.08. The 50% down scenario produces an estimated $503.65 monthly cash flow and a 1.90% cash-on-cash return. Recommended entry is 35% down or higher for a 60-plus month hold, with the option to refinance once both units are leased and stabilized rent rolls support a higher appraisal.
Key features
- Registered legal duplex, not an unregistered conversion
- Main and upper level: three bedrooms plus den, four-piece bathroom
- Self-contained one-bedroom basement apartment with private kitchen and four-piece bathroom
- Shared laundry area serving both units
- 4 beds, 2 baths total across both units
- Listed at $569,990 with estimated 4.51% cap rate
Original MLS description
*****Legal Duplex ***** The main level features a bright living room, a functional den/4th bedroom, and a combined kitchen and dining area. The primary bedroom and a full four-piece bathroom complete this level, while the upper floor offers two additional well-sized bedrooms, ensuring plenty of privacy for everyone.The lower level houses a fully self-contained one-bedroom basement apartment with kitchen, a comfortable living area, and a private four-piece bathroom. Both units benefit from shared laundry area, maximizing convenience without sacrificing living space. (42785081)
Section · Neighborhood
Where it sits.
Lakeview
Lakeview is a south Oshawa neighbourhood bounded by the Oshawa GO station on the Lakeshore East line and the Highway 401 corridor. Tenant demand is supported by Ontario Tech University, Durham College, Lakeridge Health, Ontario Power Generation, and the General Motors Oshawa Assembly facility, all within a short commute.
Detached freehold stock under $600,000 with two registered units is the scarce inventory in this submarket. Most competing duplex listings in Durham are unregistered conversions, which complicates financing and insurance for investors.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: estimated monthly cash flow is negative at 20% down (-$545.81) and only breakeven at 35% down (-$21.08).
Listed square footage of 65 appears to be a data entry error and should be verified before underwriting.
Rent estimate of $3,450 is sourced from widened comparables; actual rents in Oshawa Lakeview may diverge.
Shared laundry between units can become a tenant friction point; consider separating utilities and laundry on turnover.
Oshawa tenant pool is sensitive to GM Oshawa Assembly production volumes and post-secondary enrolment cycles.
No recent sold comparables provided; valuation relies on listing data alone.