Rosehaven bungaloft in Oakville Glenorchy with permitted plans for a separate-entrance suite
A 2,859 sq ft Rosehaven-built bungaloft in Oakville's Glenorchy community, listed at $1,849,000 with approximately $10K already invested in permits and professionally prepared plans for two additional bedrooms and a separate entrance. The thesis is income-conversion: a value-add investor underwrites the legal secondary-suite addition to lift NOI over a multi-year hold.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,849,000
Cap rate
+1.22%
Est. monthly rent
$4,825
Source: comparables
Est. net spread
+$418K
6mo hold
Annualized ROI
+45%
preliminary
Section · Why this passed our floor
What lifts the math here
Current cap
1.22% on the existing single-unit rent. The thesis is the income uplift after the conversion is complete, not today's number.
Projected post-conversion spread
$418,292 estimated over a 6-month hold using default market reno costs and the underwritten rent source.
Recommended leverage
100% down to reach neutral or positive carry during the conversion window.
Rent backed by
Estimate sourced from neighborhood comparables, not a CMHC fallback.
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.
Fix-and-flip projection
The spread, before the buy-and-hold math.
Preliminary · adjust scope & uplift
Renovation scope
Projection
Preliminary estimate. Renovation costs use 6Yield default per-sqft figures. Post-renovation value is modeled as a multiple of list price — replace with comparable post-renovation sales for higher precision. Carrying costs include property tax, condo fees if any, and insurance; financing costs not yet modeled.
Section · Buy-and-hold backup
If you held instead. The carrying 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 | $647,150 |
| Mortgage principal | $1,201,850 |
| Land transfer tax | $27,735 |
| Closing costs | $27,735 |
| Total acquisition | $702,620 |
Monthly cash flow
| Estimated rent | +$4,825 |
| Operating expenses | -$2,938 |
| Mortgage payment | -$7,019 |
| Net cash flow | -$5,133/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $241/mo |
| Maintenance reserve | $1,541/mo |
| Insurance | $770/mo |
| Property management | $386/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=8).
Breakeven
This property turns cash-flow positive at 82.5% 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 ($27,735), and closing costs ($27,735).
Section · Investment Thesis
Why this property.
This suits a value-add investor with significant equity who can execute the permitted suite addition. The mechanic is straightforward: the seller has already invested approximately $10K in permits and professionally prepared plans for two additional bedrooms and a separate entrance, shortening the entitlement runway for an income-generating suite. At $1,849,000 with an estimated cap rate of 1.22% on current single-family rent, the unlevered yield is thin; the thesis only works if the buyer converts the basement footprint into a legal secondary unit and rebases NOI.
Glenorchy sits in north Oakville between Dundas Street and Highway 407, an active growth corridor anchored by the new Sixteen Mile Sports Complex & Community Centre and supported by Highways 403, 407 and QEW for commuter flow toward Mississauga and the 400-series employment belt. The submarket has been absorbing Rosehaven and similar builder product over the last several years, and household formation here skews toward dual-income families drawn by top-rated schools, Fortinos and Food Basics plazas, and trail networks. Detached supply with a main-floor primary suite plus a separately addressable basement footprint is a narrow subset of inventory, which supports both end-user resale and rental demand for the converted suite.
Execution requires substantial cash. Even at 75% down the estimated monthly cash flow is -$813.51, and only the 100% cash scenario produces positive carry at an estimated $1,886.07 per month and a 1.19% cash-on-cash return on the current rent assumption. The recommended path is 100% cash or near-cash, complete the permitted two-bedroom plus separate-entrance addition within the first 12 months, re-tenant on a two-unit basis, and hold 36 to 60 months for NOI-driven refinance or resale.
Key features
- Approximately 2,859 sq ft Rosehaven-built bungaloft
- 4 bedrooms, 5 bathrooms, fully finished basement
- Main-floor primary suite with ensuite
- Chef-style kitchen with quartz counters and walkout to covered terrace
- Approximately $10K invested in permits and plans for two additional bedrooms and a separate entrance
- Basement gym area convertible back to a bedroom with closet
- Highways 403, 407 and QEW access
- Walking distance to Sixteen Mile Sports Complex & Community Centre
Original MLS description
Welcome to this exceptional dream home nestled in Oakville's highly sought-after Glenorchy community, just minutes from the new Sixteen Mile Sports Complex & Community Centre, parks, trails, top-rated schools, and everyday amenities including nearby Fortinos and Food Basics plazas. Convenient access to Highways 403, 407 & QEW makes commuting seamless.This stunning and rare Rosehaven-built bungaloft offers approximately 2,859 sq. ft. of luxurious living space with premium finishes throughout. From the built-in sound system and California shutters to the elegant staircase with wrought-iron pickets, every detail showcases quality craftsmanship and sophistication.The chef-inspired kitchen features a spacious centre island, quartz countertops, stainless steel appliances, and walkout access to a covered terrace. The formal dining room is enhanced by a servery and soaring vaulted ceiling, while the family room impresses with dramatic vaulted ceilings and an open, inviting atmosphere.The main-floor primary suite offers a peaceful retreat complete with a spa-like ensuite bathroom. Upstairs, the versatile loft area functions perfectly as a home office, accompanied by three generously sized bedrooms ideal for family and guests.The fully finished basement features a large recreation room, cozy fireplace, wet bar, full bathroom, abundant storage, and a home gym area that can easily be converted back into a bedroom with closet. Offering exceptional future potential, approximately $10K has already been invested in permits and professionally prepared plans for the addition of two bedrooms and a separate entrance - ideal for an income-generating suite, in-law setup, or multi-generational living. (42799223)
All photos
49 additional · click any to expand
Section · Neighborhood
Where it sits.
GO Glenorchy
Glenorchy is a north Oakville master-planned community north of Dundas Street, served by Highways 403, 407 and the QEW for regional commuting. Demand drivers include the new Sixteen Mile Sports Complex & Community Centre, top-rated schools, and Fortinos and Food Basics plazas within the immediate retail catchment.
The submarket has absorbed steady Rosehaven and other builder product over the past several years, with buyer demand led by dual-income families relocating from Mississauga and west-end Toronto. Rental demand for legal secondary suites is supported by proximity to employment in the 400-series corridor and by family-driven school catchment demand.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Negative cash flow at every leveraged scenario; only 100% cash produces positive carry at an estimated $1,886.07 per month
High leverage sensitivity: a $1,849,000 entry price means even 75% down still produces an estimated -$813.51 monthly carry
Thesis depends on completing the permitted suite addition; permit validity, construction cost overruns, and municipal inspection timelines can compress returns
Cap rate of 1.22% on current rent is below long-term financing costs; underwriting must rely on the post-conversion two-unit rent roll
Listing reports sqft as 232 in the structured data versus approximately 2,859 sq ft in the description; verify floor area before underwriting
No recent sold comparables provided; ARV and rent assumptions carry estimation risk