Renovated 2-bed corner condo in Kerr Village, steps to Lake Ontario, listed at $499,999
A 911 sqft, fully renovated corner unit in Oakville's Kerr Village with a 4.24% estimated cap rate and walkable lakefront location. Cash flow turns positive at 50% down based on $2,750 estimated monthly rent.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$499,999
Cap rate
+4.24%
Est. monthly rent
$2,750
Source: comparables_widened
CF at 50% down
+$307/mo
first positive
Cash-on-cash
+1.39%
at 50% down
The Deal
A 911 sqft, fully renovated corner unit in Oakville's Kerr Village with a 4.
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 | $175,000 |
| Mortgage principal | $324,999 |
| Land transfer tax | $7,500 |
| Closing costs | $7,500 |
| Total acquisition | $190,000 |
Monthly cash flow
| Estimated rent | +$2,750 |
| Operating expenses | -$983 |
| Mortgage payment | -$1,898 |
| Net cash flow | -$131/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $138/mo |
| Maintenance reserve | $417/mo |
| Insurance | $208/mo |
| Property management | $220/mo |
Math by deterministic Python calculator. Rate 4.99% over 25 years. Rent source: comparables_widened (63 comps).
Breakeven
This property turns cash-flow positive at 39.5% 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 ($7,500), and closing costs ($7,500).
Section · Investment Thesis
Why this property.
This 2-bedroom, 1-bathroom corner condo at 212 Kerr Street, Unit 702 is listed at $499,999 with 911 sqft of fully renovated interior space in Oakville's Kerr Village. The unit was reimagined in 2026 with quartz countertops, custom cabinetry, Bosch stainless steel appliances, wide plank engineered hardwood, and a marble-style bathroom, which positions it at the upper end of comparable rental product in the area. Estimated monthly rent is $2,750, supporting gross annual rent of $33,000 and an estimated annual NOI of $21,210.02, producing an estimated cap rate of 4.24% and a gross yield of 6.60%.
Leverage sensitivity is meaningful on this asset. At 20% down ($99,999.80, total acquisition cost $114,999.77), the estimated monthly mortgage payment is $2,336.03 and projected monthly cash flow is negative $568.52, a cash-on-cash return of -5.93%. At 35% down ($174,999.65), monthly cash flow narrows to negative $130.52, close to breakeven, with cash-on-cash at -0.82%. The property reaches positive carry at 50% down ($249,999.50), where the estimated monthly mortgage drops to $1,460.02 and projected monthly cash flow is positive $307.49, a 1.39% cash-on-cash return. At 75% down, projected monthly cash flow climbs to positive $1,037.49 (3.19% cash-on-cash), and an all-cash purchase of $499,999 produces projected monthly cash flow of positive $1,767.50 at a 4.12% cash-on-cash return.
The minimum recommended down payment for neutral-to-positive monthly carry is 50%. Buyers using 20% or 35% leverage should underwrite the negative carry as a cost of holding the asset for appreciation and amenity-led rental demand rather than monthly income. Note that the financial model shows $0 monthly property tax and $0 maintenance fee, which is inconsistent with a condo of this profile; buyers should independently verify both line items before closing, as actual carrying costs will reduce the cash flow figures above.
The hold-period implication is a 60+ month horizon. Kerr Village is a stable, walkable, lakefront-adjacent Oakville pocket with a recurring tenant pool (young professionals, downsizers, GO-commuters), and the renovated finish should support both rental positioning and resale liquidity over the medium term.
Key features
- 911 sqft 2-bed, 1-bath corner unit with minimal shared walls
- Fully renovated in 2026: quartz counters, custom cabinetry, Bosch appliances, engineered hardwood, marble-style bath
- South/east-facing exposure with natural light through the day
- Private balcony
- Condo fees include heat, hydro, water, party room, and secure underground parking
- 5-minute walk to Lake Ontario shoreline at Tannery Park
- Short bus ride or quick drive to Oakville GO Station
- Walkable to Kerr Street restaurants, cafes, and farmers' market
Original MLS description
Corner Unit Renovation, Steps to the Lake. Kerr Village Living. Imagine your morning: coffee from Kerr Street Cafe, then a 5-minute walk to the Lake Ontario shoreline at Tannery Park. Your evening: dinner at Pasquale’s Trattoria or Narenj, two of dozens of independent restaurants lining Kerr Street, all within steps of your front door. This is what Kerr Village living actually feels like, and this immaculate 2-bedroom corner unit is your front-row seat. Completely reimagined in 2026. Quartz countertops meet a slab backsplash and custom cabinetry in a kitchen that doesn’t announce itself, it performs. Bosch stainless steel appliances stay the course. Wide plank engineered hardwood floors flow seamlessly through living and bedrooms. The marble-style bathroom feels like a sanctuary, not an afterthought. Light doesn’t just enter this unit; it lives here. South/east-facing windows mean natural light from sunrise to sunset. The corner layout means minimal shared walls, so your space actually breathes. The private balcony extends your living space outdoors and becomes your third room by summer. The Kerr Village advantage: Oakville GO is a short bus ride or quick drive away. Lakeside Park’s trails and beaches anchor your weekends. Independent coffee roasters, a farmers’ market, and a culinary scene spanning Italian, Persian, and beyond. It’s that rare neighbourhood where you know your café owner by name. Condo fees cover heat, hydro, water, party room, and secure underground parking. (70544973)
All photos
45 additional · click any to expand
Section · Neighborhood
Where it sits.
Oakville
Kerr Village is one of Oakville's most walkable and amenity-dense pockets, anchored by independent restaurants, cafes, a farmers' market, and proximity to Lake Ontario via Tannery Park and Lakeside Park. The unit is a short bus ride or quick drive from Oakville GO Station, which provides Lakeshore West service into downtown Toronto, supporting commuter tenant demand.
The neighborhood's mix of independent retail, lakefront trails, and ongoing gentrification along Kerr Street has historically supported steady rental absorption for renovated units. Condo fees in this building cover heat, hydro, water, party room, and secure underground parking, simplifying tenant utility billing.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: estimated monthly cash flow is negative at both 20% down (-$568.52) and 35% down (-$130.52); positive carry requires 50% down or more
Financial model shows $0 monthly property tax and $0 maintenance fee, which is inconsistent with a typical Oakville condo; verify actual property tax and condo fees with the listing brokerage before underwriting
Estimated cap rate of 4.24% is modest; returns depend on long-term Oakville appreciation rather than current yield
Rent estimate of $2,750 is drawn from widened comparables (63 comps); achievable rent should be validated against current Kerr Village leasing activity
Condo-specific risks apply: special assessments, reserve fund adequacy, and status certificate review are required