Renovated 3+1 Detached Link in Bayview Glen with 2024 Basement Suite and Separate Entrance
Renovated detached link in Bayview Glen with a 2024 finished basement apartment and separate entrance, walking distance to Langstaff GO. Income-conversion is already executed; the spread between rent and carry is structurally negative on financed scenarios, so this is a low-leverage or cash-buyer file.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,098,000
Cap rate
+1.45%
Est. monthly rent
$3,100
Source: comparables_widened
Est. net spread
+$248K
6mo hold
Annualized ROI
+45%
preliminary
Section · Why this passed our floor
What lifts the math here
Current cap
1.45% 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
$248,335 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 city-wide 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 | $384,300 |
| Mortgage principal | $713,700 |
| Land transfer tax | $16,470 |
| Closing costs | $16,470 |
| Total acquisition | $417,240 |
Monthly cash flow
| Estimated rent | +$3,100 |
| Operating expenses | -$1,776 |
| Mortgage payment | -$4,168 |
| Net cash flow | -$2,844/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $155/mo |
| Maintenance reserve | $915/mo |
| Insurance | $458/mo |
| Property management | $248/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=15).
Breakeven
This property turns cash-flow positive at 79.3% 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 ($16,470), and closing costs ($16,470).
Section · Investment Thesis
Why this property.
This file suits a value-add or appreciation-oriented buyer who can deploy meaningful equity. The income-conversion work is already finished: a professionally completed 2024 basement apartment with separate entrance sits beneath a renovated 3+1 main house. At a list price of $1,098,000 and an estimated cap rate of 1.45%, the property does not underwrite as a cash-flow play on financed terms. The strategy is to capture the existing two-unit income against a long Richmond Hill appreciation hold.
Langstaff is a Provincial Urban Growth Centre. The Langstaff GO station on the Richmond Hill line is within walking distance per the listing, and the Highway 7 Viva BRT corridor runs through the node. The Yonge North Subway Extension will carry Line 1 service north to Richmond Hill Centre, anchoring the long-term intensification thesis around the future terminus. Highway 7, 404, and 407 access supports commuter demand from the GTA employment belt. End-user demand is reinforced by the Adrienne Clarkson Public School, Langstaff Secondary, and St. Robert Catholic High School catchments, all named in the listing as the assigned schools.
Execution requires low leverage. At 75% down, estimated monthly cash flow is -$278.60; only the all-cash scenario projects positive carry at an estimated +$1,324.50 per month and a 1.41% cash-on-cash return. The recommended approach is a 100% cash or near-cash purchase, hold 60+ months through the Yonge North Subway Extension delivery, and revisit refinance once Bank of Canada rates compress or rents reset upward.
Key features
- 3+1 bedroom, 4 bathroom detached link with direct garage access
- Professionally finished basement apartment (2024) with separate entrance, full kitchen, and bedroom
- Renovated main level: granite kitchen, stainless appliances, primary ensuite with quartz
- Walking distance to Langstaff GO and Viva Bus rapid transit
- Catchment: Adrienne Clarkson PS, Langstaff SS, St. Robert Catholic HS
- Close to Hwy 7, 404, and 407; minutes to the future Yonge North Subway Extension
Original MLS description
A Beautifully Renovated Detached Link. Linked By Garage Only Feel Likes Detached *Direct Access To Garage*. Conveniently Located In The Heart Of Richmond Hill. This Home Basks In Ample Natural Light & Is Connected By The Garage Only. Spacious 3+1 Bedrooms, And 4 Washrooms. Live In The Highly Sought After The Coveted Bayview Glen Neighbourhood. This Home Offers Endless Opportunities. Enjoy The Rental Income Of The Private Basement Apartment With Separate Entrance. Meticulously Designed To Cater To Both Comfort & Style. Open Concept Living And Dining Room, Creating A Seamless Flow. Renovated Kitchen With Granite Countertops, Stainless Steel Appliances, Undermount Sink, And Unique Back Splash. Primary Bedroom Features Spacious Walk-In Closet And 3 Pc Ensuite With Quartz Countertop, Seamless Glass Shower, Designer Mirror And Light Fixtures. Brand New Professionally Finished Basement Apartment (2024) With Separate Entrance, Features New Laminate Floor, Fully Equipped Kitchen With Brand New Stainless Steel Appliances (2024), Quartz Countertop, Recreation Room, A Bedroom, 3-PC Bathroom And Plenty Of Storage Space. Fully Fenced Private Backyard With Oversized Deck, Perfect For Entertaining. Top Ranking School Zone: Adrienne Clarkson Public School, Langstaff Secondary School & St. Robert Catholic High School. Extras: Enjoy An Array Of Amenities. Walking Distance To the GO train station ensuring a seamless commute to Toronto & beyond, Viva Bus, Park, School And Shopping. Close To Hwy 7/407/404. Minutes To Future Yonge/7 Subway Line. (42802131)
All photos
49 additional · click any to expand
Section · Neighborhood
Where it sits.
Langstaff
Bayview Glen sits within Richmond Hill's Langstaff submarket, anchored by the Langstaff GO station on the Richmond Hill line and the Highway 7 Viva BRT corridor. The area feeds into the Adrienne Clarkson Public School, Langstaff Secondary, and St. Robert Catholic High School catchments, which support durable end-user demand from family buyers.
The submarket is positioned for the Yonge North Subway Extension, which will continue Line 1 service north of Finch to Richmond Hill Centre. Combined with proximity to Highways 7, 404, and 407, Langstaff has been designated a Provincial Urban Growth Centre with long-horizon intensification plans around the future subway terminus.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
All financed scenarios (20%, 35%, 50%, 75% down) project negative monthly cash flow; only the 100% cash scenario clears breakeven at an estimated +$1,324.50 per month
Estimated cap rate of 1.45% is well below GTA debt cost, making this a leverage-sensitive hold
Rent estimate sourced from widened comparables; actual achievable rent for the upper unit plus basement suite may vary
Yonge North Subway Extension timeline is multi-year; appreciation thesis depends on long hold
Detached link construction (shared garage wall) typically trades at a modest discount to fully detached comparables
Listed sqft figure of 139 appears to be a data artifact and not the true living area