Large Brampton East bungalow with separate side entrance and finished lower kitchen, sold as-is
Detached bungalow on Ardglen Drive with a separate side entrance, second full kitchen down, and six total bedrooms across two levels. Listed at $769,900 with an estimated 2.43% cap rate; thesis is legal second-suite conversion, not in-place yield.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$769,900
Cap rate
+2.43%
Est. monthly rent
$2,900
Source: comparables_widened
Est. net spread
+$174K
6mo hold
Annualized ROI
+45%
preliminary
Section · Why this passed our floor
What lifts the math here
Current cap
2.43% 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
$173,902 estimated over a 6-month hold using default market reno costs and the underwritten rent source.
Recommended leverage
75% 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 | $269,465 |
| Mortgage principal | $500,435 |
| Land transfer tax | $11,549 |
| Closing costs | $11,549 |
| Total acquisition | $292,562 |
Monthly cash flow
| Estimated rent | +$2,900 |
| Operating expenses | -$1,339 |
| Mortgage payment | -$2,923 |
| Net cash flow | -$1,362/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $145/mo |
| Maintenance reserve | $642/mo |
| Insurance | $321/mo |
| Property management | $232/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=68).
Breakeven
This property turns cash-flow positive at 65.3% 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 ($11,549), and closing costs ($11,549).
Section · Investment Thesis
Why this property.
Value-add buyer targeting a legal second-suite conversion in Brampton East. The bungalow already has a separate side entrance, a finished lower level with a second full kitchen, three additional bedrooms, and full laundry, which is the physical footprint required to pursue a registered two-unit dwelling. At a list price of $769,900 and an estimated 2.43% cap rate on current rent assumptions, the thesis is NOI lift through legalization and dual-tenancy, not in-place yield.
Brampton East sits inside the GO Transit Kitchener corridor anchored by Bramalea GO and Brampton GO, with Highway 410 feeding Pearson Airport employment to the south. The City of Brampton's Official Plan and the provincial Bill 23 framework permit up to three residential units per lot as-of-right on serviced detached parcels, which materially shortens the path to legal second-unit registration on Ardglen Drive. Sheridan College's Davis Campus and the Peel Memorial Centre redevelopment continue to anchor tenant demand for affordable rooms and one-bedroom suites along the Queen Street and Bramalea Road spines. Ardglen Drive sits within walking distance of Brampton Transit routes on Clarence Street and Bramalea Road.
Execution requires capital. At 20% down the estimated monthly cash flow is -$2,036.83 and at 50% down it is still -$687.95; the property only approaches breakeven at 75% down with estimated cash flow of $436.12. Recommended structure is 75% down or all-cash during the legalization and second-tenant lease-up window, then refinance at month 18 to 24 once the legal two-unit rent roll supports a higher appraisal. Hold 36 to 60 months.
Key features
- Detached bungalow described as one of the largest in the area
- 3 bedrooms on the main floor plus 3 additional bedrooms in the finished basement
- Separate side entrance supporting a second-suite conversion
- Second full kitchen and full laundry in the basement
- New main floor flooring installed
- Sold on an as-is basis
Original MLS description
Rare opportunity to own one of the largest bungalows in the area - offering exceptional space, a versatile layout, and a prime central location close to all amenities. The main floor features 3 generous bedrooms, a large living room, full kitchen, main floor new flooring installed. The fully finished basement includes 3 additional bedrooms, a spacious primary bedroom with a huge walk-in closet, a large pantry/storage room, full laundry room with washer & dryer, a second full kitchen, and wood flooring throughout. Separate side entrance provides excellent potential for extended family, or multi-generational living. Located in a high-demand neighborhood close to schools, transit, shopping, parks, and major conveniences. A fantastic opportunity for families, investors, or anyone seeking space and flexibility. Don't miss this one. Sold in "As Is" basis...... some pictures are virtually staged. (42830056)
All photos
42 additional · click any to expand
Section · Neighborhood
Where it sits.
Brampton East
Brampton East is a mature, mixed-density submarket bordered by Queen Street East, Bramalea Road, and the CN/Kitchener GO corridor. Tenant demand is driven by Sheridan College's Davis Campus, the Peel Memorial Centre health hub, and Pearson-area logistics employment reachable via Highway 410.
The City of Brampton permits secondary units in detached homes subject to registration, and Bill 23 (More Homes Built Faster Act) layers as-of-right permissions for up to three units on serviced residential lots. That regulatory environment, combined with the property's existing separate side entrance and second kitchen, defines a clear path to a legal two-unit rent roll.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Sold on an as-is basis; buyer should budget for inspection findings and any work required to bring the lower unit to legal second-suite standards (egress, fire separation, ESA).
High leverage sensitivity: estimated monthly cash flow is negative at 20%, 35%, and 50% down, and only turns positive at 75% down or above.
Rent estimate is sourced from widened comparables rather than direct in-building comps; actual achievable rent may vary.
Listing notes that some photos are virtually staged, so condition due diligence on-site is essential.
Second-unit legalization timeline and cost are not guaranteed and depend on City of Brampton inspection outcomes.