Brampton South oversized bungalow with separate side entrance and finished basement
Three-bedroom detached bungalow in Brampton South with a separate side entrance, finished basement featuring a 3-piece bath and gas fireplace, and a renovated kitchen. Listed at $949,000 with the layout in place for a secondary-suite conversion play.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$949,000
Cap rate
+1.69%
Est. monthly rent
$2,900
Source: comparables_widened
Est. net spread
+$216K
6mo hold
Annualized ROI
+45%
preliminary
Section · Why this passed our floor
What lifts the math here
Current cap
1.69% 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
$215,542 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 | $332,150 |
| Mortgage principal | $616,850 |
| Land transfer tax | $14,235 |
| Closing costs | $14,235 |
| Total acquisition | $360,620 |
Monthly cash flow
| Estimated rent | +$2,900 |
| Operating expenses | -$1,563 |
| Mortgage payment | -$3,602 |
| Net cash flow | -$2,266/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $145/mo |
| Maintenance reserve | $791/mo |
| Insurance | $395/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 75.9% 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 ($14,235), and closing costs ($14,235).
Section · Investment Thesis
Why this property.
This listing fits a value-add investor pursuing a legal secondary-suite conversion. The bones are in place: a separate side entrance, a finished lower level with a 3-piece bath, gas fireplace, oversized rec room, and a basement bedroom that the listing notes "could be made into 2", with all windows above grade. At $949,000 and an estimated cap rate of 1.69%, the as-rented numbers do not carry the deal; the thesis depends on lifting NOI by legalizing and stabilizing a second unit over a 24 to 36 month window.
Brampton South sits inside the Highway 410 and Highway 10 corridor with onward access to Highway 407, the three routes the listing flags directly. The submarket draws demand from Sheridan College Davis Campus, Brampton Civic Hospital staff housing, and commuters running south to Mississauga employment nodes along Hurontario. The Hazel McCallion LRT under construction along Hurontario will terminate at Brampton Gateway Terminal, tightening rental demand on the south end of the city where Ambleside Drive sits. Lot configurations on Ambleside support the side-entrance, above-grade-window setup that City of Brampton second-unit registration requires, which is the gating item for the income lift this thesis depends on.
Execution requires capital. At 75% down the property runs an estimated monthly cash flow of -$49.24, effectively breakeven on the current single-unit rent assumption; only the 100% cash scenario clears positive at an estimated $1,336.31 per month. The realistic path is to close with heavy equity, complete the second-unit registration and any compliance work inside 12 months, then refinance once the two-unit rent roll supports the appraisal. Hold 36 to 60 months through the Hurontario LRT opening.
Key features
- Oversized bungalow on a 4-car driveway plus garage
- Separate side entrance to finished basement
- Basement 3-piece bath and gas fireplace already in place
- Above-grade windows throughout lower level
- Renovated family-size kitchen with island
- Direct access to Highways 10, 410, and 407
Original MLS description
Welcome to. 87 Ambleside Dr. in a very sought-after area close to high quality schools, hospital, shops great access to Hwy 10, 410, 407. This is a oversize bunglow with great curb appeal with a large veranda, gar, plus .parking for 4 in the drive. Bright foyer leading to the living room free-standing fireplace, over looking formal dining room, huge over size completely renovated family size kitchen, island with stools ,fridge, stove. dishwasher, loads of counters and cupboards, pot drawers, and pull-outs, a cook's dream kitchen. Good size master with large closet plus two other bedrooms. Separate side entrance leading to finished basement, with huge bedroom which could be made into 2, oversized rec room, 3pc bath, gas fireplace, all windows above grade and laminate floors thur out living area. Side entrance to patio, decks and fenced yard for summer BBQ. Don't miss this one. (42830693)
All photos
44 additional · click any to expand
Section · Neighborhood
Where it sits.
Brampton South
Brampton South is an established detached-bungalow pocket bordered by Steeles Avenue and the Highway 410 interchange at Steeles. The corridor feeds Sheridan College Davis Campus, Brampton Civic Hospital, and the Mississauga employment belt along Hurontario, generating consistent tenant demand from students, healthcare workers, and commuters.
The Hazel McCallion LRT, currently under construction along Hurontario Street, will terminate at Brampton Gateway Terminal near Steeles and Hurontario, tightening rental demand in the south end of the city once revenue service begins.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Negative cash flow across all leveraged scenarios; only 100% cash clears positive at an estimated $1,336.31 per month
Estimated cap rate of 1.69% does not support a debt-financed acquisition without the second-suite conversion executing
Secondary-suite legalization is subject to City of Brampton zoning, fire code, and registration approval; conversion is not guaranteed
Rent estimate sourced from widened comparables rather than direct neighborhood comps, raising estimation risk
High leverage sensitivity: cash flow swings from -$3,097.47 at 20% down to +$1,336.31 at 100% cash
Square footage field in the listing data (102 sqft) appears to be a data entry error and should be verified before underwriting