Renovated 4,831 sq ft raised bungalow on Harding cul-de-sac with two basement income units
A fully renovated 4,831 sq ft detached home on a 10,080 sq ft Richmond Hill lot, with a lower level configured for two independent income units. Priced at $2,288,888, the property is a primary-residence-with-income play rather than a pure rental, with positive monthly carry only at a 100% cash purchase based on current rent comparables.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$2,288,888
Cap rate
+0.55%
Est. monthly rent
$4,500
Source: comparables_widened
Est. net spread
+$521K
6mo hold
Annualized ROI
+45%
preliminary
Section · Why this passed our floor
The spread case, in concrete terms
Projected spread
$520,566 estimated over a 6-month hold, after carrying and selling costs.
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 | $801,111 |
| Mortgage principal | $1,487,777 |
| Land transfer tax | $34,333 |
| Closing costs | $34,333 |
| Total acquisition | $869,777 |
Monthly cash flow
| Estimated rent | +$4,500 |
| Operating expenses | -$3,446 |
| Mortgage payment | -$8,689 |
| Net cash flow | -$7,635/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $225/mo |
| Maintenance reserve | $1,907/mo |
| Insurance | $954/mo |
| Property management | $360/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=23).
Breakeven
This property turns cash-flow positive at 92.1% 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 ($34,333), and closing costs ($34,333).
Section · Investment Thesis
Why this property.
This Harding cul-de-sac property is a 4,831 sq ft raised bungalow on a 10,080 sq ft lot, listed at $2,288,888. The lower level has two distinct sections, each with a private entrance, including a 370 sq ft suite with its own ensuite, a full second kitchen, and separate laundry. That layout supports multigenerational use or two simultaneous income units, which is the investor angle here rather than a conventional single-tenant rental.
Based on widened rent comparables (23 comps), estimated monthly rent is $4,500 with estimated annual NOI of $12,646.68 and an estimated cap rate of 0.55%. At the current price the cash flow profile is sharply leverage-sensitive. At 20% down, estimated monthly cash flow is -$9,639.93 with a cash-on-cash of -21.97%. At 35% down it improves to -$7,634.84 (-10.53%), at 50% down to -$5,629.75 (-5.57%), and at 75% down to -$2,287.93 (-1.54%). Only at a 100% cash purchase does the property reach positive territory, at estimated +$1,053.89 per month and 0.54% cash-on-cash. The minimum recommended down payment for neutral or positive carry is therefore 100%.
The practical read: this is not an income-yield asset at current rents and rates. The thesis is land value on a strong 10,080 sq ft cul-de-sac lot in Richmond Hill, renovation quality already in place, and optionality from the two-unit lower level offsetting carrying cost for an owner-occupier or a cash buyer wanting a long-hold GTA detached asset. Leverage sensitivity is high; the swing between 20% down and 100% cash exceeds $10,000 per month in estimated cash flow.
Hold-period implications skew long. Buyers using mortgage financing should expect to fund negative carry from other sources for an extended period, and the investment case rests on Richmond Hill detached land appreciation over a 60+ month horizon rather than on operating income. Cash buyers get a modestly positive yield plus the underlying lot. All figures are estimates only and depend on achieved rents, financing terms, and expense assumptions.
Key features
- 4,831 sq ft fully renovated raised bungalow
- 10,080 sq ft lot at the end of a quiet Harding cul-de-sac
- 4 bedrooms on main floor, primary and junior primary each with ensuite
- Chef's kitchen with two islands, sunroom, skylights
- Lower level with two private entrances, configurable as two independent income units
- Basement includes 370 sq ft suite with ensuite, second full kitchen, separate laundry
- Attached garage plus large driveway
- Steps to ravine walking path and park
- Minutes to VIVA BRT and Richmond Hill GO
Original MLS description
Set at the end of a quiet Harding cul-de-sac on a 10,080 sq ft lot, this 4,831 sq ft residence is a rare find in the neighbourhood. Fully renovated and thoughtfully composed, it offers the kind of scale that rarely comes with this level of finish or this quality of lot.The main floor opens into a bright, generous layout that moves naturally from room to room. A formal sitting room flows into a chef's kitchen anchored by two islands, which connects to a living room centred on a fireplace. Skylights and large windows distribute natural light through the core of the home, while a sunroom extends the living area and steps directly out to the backyard. Four spacious bedrooms occupy this level, led by a primary suite and a junior primary, each with its own ensuite. A secondary bedroom doubles cleanly as a home office or library, depending on how the household uses it.The lower level is where the home's versatility becomes a genuine asset. Two distinct sections, each with a private entrance, lend themselves to a range of configurations: in-law accommodation, multigenerational living, or two fully independent income units running simultaneously. The basement includes a 370 sq ft suite with its own ensuite, a full second kitchen, and separate laundry. Beyond that, a spacious rec room and a dedicated living and dining area round out the space, all set against large windows that bring in genuine daylight. Two well-sized storage rooms add practical depth without borrowing from the living areas. Outside, a large driveway and attached garage handle parking without compromise. A few steps from a ravine walking path and park. The backyard offers a sense of privacy and openness that most lots in the area simply cannot match. VIVA and the GO Train are minutes away, making the location as practical as it is quiet. A raised bungalow of this scale, on a lot this strong, fully renovated to this standard; it does not come up often. A home that has to be walked through to be understood. (42813649)
Section · Neighborhood
Where it sits.
Harding
Harding is an established Richmond Hill neighbourhood centred around Yonge Street and Major Mackenzie, characterized by mature lots, detached housing stock, and proximity to ravine and park space. The subject backs onto a ravine walking path and park, which is a durable amenity for resale.
Transit access supports end-user demand: VIVA bus rapid transit on Yonge and the Richmond Hill GO Train are both minutes away, connecting to downtown Toronto. The York Region Yonge North subway extension, currently in planning and procurement stages, has Richmond Hill detached land as a long-term beneficiary, though timelines remain subject to government schedules.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: estimated monthly cash flow ranges from -$9,639.93 at 20% down to +$1,053.89 at 100% cash
Negative estimated cash flow at all financed scenarios (20%, 35%, 50%, 75% down)
Estimated cap rate of 0.55% is well below GTA debt costs; thesis depends on land appreciation, not yield
Rent estimate sourced from widened comparables (rent_source: comparables_widened); achieved rent on a two-unit basement configuration may vary materially
Annual property tax in financials shown as $0.00; buyers should verify actual tax assessment before closing
Large capital requirement at recommended scenario (approx. $2.36M all-in for cash purchase)
Two-unit basement use should be verified against Richmond Hill zoning and second-suite registration requirements