Updated 3-bed Oakville townhouse at $492,000 with positive carry from 20% down
A 1,404 sqft, 3-bedroom Falgarwood townhouse priced at $492,000 with an estimated 6.14% cap rate and positive projected cash flow across all five leverage scenarios. Recent 2023 kitchen and main floor renovation reduces near-term capex risk for an investor-grade entry point in Oakville.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$492,000
Cap rate
+6.14%
Est. monthly rent
$3,600
Source: comparables_widened
CF at 20% down
+$218/mo
first positive
Cash-on-cash
+2.32%
at 20% down
The Deal
A 1,404 sqft, 3-bedroom Falgarwood townhouse priced at $492,000 with an estimated 6.
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 | $172,200 |
| Mortgage principal | $319,800 |
| Land transfer tax | $7,380 |
| Closing costs | $7,380 |
| Total acquisition | $186,960 |
Monthly cash flow
| Estimated rent | +$3,600 |
| Operating expenses | -$1,083 |
| Mortgage payment | -$1,868 |
| Net cash flow | +$649/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $180/mo |
| Maintenance reserve | $410/mo |
| Insurance | $205/mo |
| Property management | $288/mo |
Math by deterministic Python calculator. Rate 4.99% over 25 years. Rent source: comparables_widened (40 comps).
Breakeven
This property turns cash-flow positive at 12.4% 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 ($7,380), and closing costs ($7,380).
Section · Investment Thesis
Why this property.
This 3-bedroom, 1.5-bathroom townhouse at 1066 Falgarwood Drive Unit 154 is listed at $492,000 with 1,404 sqft of interior space. Based on widened rental comparables, estimated monthly rent is $3,600, producing gross annual rent of $43,200 and estimated annual NOI of $30,204. That supports an estimated cap rate of 6.14% and a gross yield of 8.78%, which is unusually strong for Oakville at this price band. Operating expenses are kept modest because the condo fee structure includes water, cable TV, and high-speed internet, so the underwriting includes $410 monthly maintenance reserve, $205 insurance, and $288 property management, totalling $1,083 in monthly expenses.
Leverage sensitivity is moderate and, importantly, every scenario projects positive carry. At 20% down ($98,400), the estimated monthly mortgage payment is $2,298.65 with projected monthly cash flow of $218.35 and a cash-on-cash return of 2.32%. At 35% down ($172,200), monthly cash flow rises to an estimated $649.34 with a 4.17% cash-on-cash. The 50% down scenario ($246,000) generates an estimated $1,080.34 monthly and 4.97% cash-on-cash. At 75% down ($369,000), projected monthly cash flow is $1,798.67 at 5.62% cash-on-cash, and a full cash purchase ($492,000) yields an estimated $2,517.00 per month at 5.96% cash-on-cash. The minimum recommended down payment for positive carry is 20%, making this property accessible to leveraged buyers while still scaling returns meaningfully for cash-heavier positions.
The 2023 kitchen and main floor renovation (quartz counters, soft-close cabinetry, stainless appliances, fresh paint) reduces near-term capex and supports rentability for an end-user tenant profile. The three-bedroom layout with a private primary level appeals to small families and roommate scenarios, broadening the tenant pool. Estimated land transfer tax is $7,380 and estimated closing costs are $7,380, bringing total acquisition cost at 20% down to an estimated $113,160.
Recommended hold is 60+ months. The thesis is primarily cash flow with secondary appreciation exposure tied to Oakville's long-term demand drivers. Investors should verify condo fee amount, reserve fund study, status certificate, and confirm market rent through their own diligence before committing.
Key features
- 3 bedrooms, 1.5 bathrooms, 1,404 sqft
- List price $492,000 in Oakville
- 2023 kitchen and main floor renovation with quartz counters and stainless appliances
- Condo fees include water, cable TV, and high-speed internet
- Walkout patio with open green space
- Primary bedroom on its own level
- Estimated cap rate 6.14% and gross yield 8.78%
- Positive projected cash flow across all five down-payment scenarios
Original MLS description
Step into exceptional value in one of Oakville's sought after communities with this well maintained 3 bedroom, 1.5 bathroom townhouse, perfect for first-time buyers or savvy investors looking to get into the market without compromise. The home has been thoughtfully updated where it matters most. A full kitchen and main floor renovation in 2023 transformed the open concept design between the kitchen and living areas making everyday life feel effortless. Kitchen has all the I wants with quartz counter tops, soft close drawers and cabinets and stainless steel appliances. Fresh paint throughout adds a clean, move-in-ready feel, so you can settle in without lifting a finger. Upstairs, you’ll find three well-sized bedrooms, with the primary bedroom being on its own level for privacy and enjoyment. 2 additional bedrooms are located on the upper level alongside the main bathroom and laundry. Step outside and enjoy your walkout patio and open green space. The perfect spot for morning coffee, summer evenings, or simply unwinding in your outdoor space. One of the standout features of this home is the incredible value built into the condo fees. With water, cable TV, and high-speed internet included, a significant portion of your everyday utilities are already covered, making monthly budgeting simple and predictable. This is a home that has truly been loved. The current owners have enjoyed over 20 years here, raising their family which is a true testament to the comfort, community, and ideal lifestyle this property offers. If you’ve been waiting for the right opportunity to enter the Oakville market, this is it. Affordable, partially updated, and move-in ready, this townhouse delivers on value, lifestyle, and long-term potential. (70556194)
Section · Neighborhood
Where it sits.
Oakville
Falgarwood is an established residential pocket in east Oakville near Trafalgar Road and the QEW, offering quick access to Highway 403 and the Oakville GO station for Toronto-bound commuters. The area benefits from mature tree cover, neighbourhood schools, and proximity to Sheridan College's Trafalgar campus, which supports rental demand from students, faculty, and young families.
Oakville's broader fundamentals, including strong household incomes, restricted greenfield supply, and ongoing GTA West infrastructure investment, support steady long-term demand for entry-priced townhouse stock. Sub-$500,000 freehold-style product in Oakville is relatively scarce, which underpins the rental thesis at this price point.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Condo fee dollar amount and status certificate not provided in listing data; verify before offer
Rent estimate derived from widened comparables (40 comps); actual achieved rent may vary
Property tax shown as $0 in underwriting; investor should verify annual tax amount independently
Leverage sensitivity is medium: cash flow at 20% down is thin at an estimated $218.35/month, leaving limited buffer for rate or vacancy shocks
1.5 bathrooms may limit rent ceiling versus 2-full-bath comparables
No recent sold comparables available to triangulate value