1,080 sqft 2-bed condo steps to Finch West LRT and York University, $489,000
A 1,080 sqft two-bedroom suite near York University and the new Line 6 Finch West LRT, listed at $489,000 with an estimated 4.69% cap rate. Maintenance fees cover all utilities including heat, hydro, water, and basic internet, supporting a tenant-friendly carry profile.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$489,000
Cap rate
+4.69%
Est. monthly rent
$2,900
Source: comparables_widened
CF at 35% down
+$55/mo
first positive
Cash-on-cash
+0.36%
at 35% down
Section · Why this passed our floor
Where the income story is solid
Cap rate
4.69% — at or above our 4.0% cash-flow tier floor.
Breakeven leverage
35% down to clear neutral monthly carry. Below that the property runs negative; above it the carry compounds.
Rent backed by
Estimate sourced from city-wide comparables.
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.
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 | $171,150 |
| Mortgage principal | $317,850 |
| Land transfer tax | $7,335 |
| Closing costs | $7,335 |
| Total acquisition | $185,820 |
Monthly cash flow
| Estimated rent | +$2,900 |
| Operating expenses | -$988 |
| Mortgage payment | -$1,856 |
| Net cash flow | +$55/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $145/mo |
| Maintenance reserve | $408/mo |
| Insurance | $204/mo |
| Property management | $232/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=173).
Breakeven
This property turns cash-flow positive at 33.1% 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 ($7,335), and closing costs ($7,335).
Section · Investment Thesis
Why this property.
This unit suits a cash-flow investor with meaningful equity to deploy near York University's student and staff rental pool. The mechanic is straightforward: a $489,000 list price, an estimated 4.69% cap rate, and an estimated 7.12% gross yield against $2,900 estimated monthly rent. Because maintenance fees include heat, hydro, water, and basic internet, operating expense volatility is dampened relative to peer condos, which is what carries the income thesis at moderate leverage rather than aggressive financing.
The submarket is anchored by York University, the Finch West Subway Station on Line 1, and the new Line 6 Finch West LRT, which connects Humber College to the subway and runs directly past this corridor. Highways 400, 401, and 407 are all reachable from the pocket, broadening the commuter draw beyond the campus itself. York University Heights has absorbed sustained tenant demand from undergraduate, graduate, and staff cohorts, and the LRT opening reshapes the east-west connectivity of the Finch corridor in a way that historically supports rent durability around new rapid-transit stops.
At 35% down the suite reaches estimated positive carry of $55.48 per month; at 50% down estimated cash flow climbs to $483.85 with a 2.24% cash-on-cash return. The recommended entry is 50% down for a buyer prioritizing real monthly income, with a 60+ month hold to ride LRT ramp-up and refinance once rates normalize. A 20% down entry produces estimated negative carry of $372.89 per month and is not the intended path here.
Key features
- 1,080 sqft 2-bedroom, 1-bathroom layout
- Private balcony with walk-out from living area
- Ensuite laundry
- Maintenance fees include heat, hydro, water, and basic internet
- Building amenities: indoor pool, gym, sauna, squash/badminton, 24-hour security
- Steps to Finch West Subway Station and Line 6 Finch West LRT
- Walking distance to York University
- Highway 400, 401, and 407 access
Original MLS description
Bright and spacious 1,080 sq. ft. 2-bedroom, 1-bathroom suite offering incredible value for buyers looking for space, convenience, and long-term potential. This well-laid-out unit features generous living and dining areas, ensuite laundry, and a walk-out to a large private balcony, creating a comfortable home with plenty of room to grow. Located in a highly connected pocket near York University, this is an excellent opportunity for first-time buyers, end users, families, or investors looking for strong rental potential in a high-demand area. Steps to TTC transit, with quick access to Finch West Subway Station, the new Line 6 Finch West LRT, York University, grocery stores, restaurants, schools, parks, and everyday amenities, plus easy access to Highways 400, 401, and 407. Residents enjoy access to nearby shared amenities including an indoor pool, fully equipped gym, sauna, party room, squash/badminton courts, table tennis, bike racks, visitor parking, secure entry, and 24-hour security. Maintenance fees include all utilities, including heat, hydro, water, and basic internet. Whether you are buying your first home, upsizing into more space, or investing near York U, this property checks every box. (42840856)
All photos
28 additional · click any to expand
Section · Neighborhood
Where it sits.
York University Heights
York University Heights centers on the York U campus, one of Canada's largest universities, and a multi-modal transit node anchored by Finch West Subway Station on Line 1 and the new Line 6 Finch West LRT. The pocket draws a consistent base of student, graduate, and staff tenants, supplemented by commuters using Highways 400, 401, and 407.
The LRT opening extends rapid transit along Finch Avenue West toward Humber College, reshaping the east-west commuter pattern and increasing the catchment of renters who can reach the Line 1 subway without driving. Everyday retail, grocery, and school amenities sit within the immediate area.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: estimated monthly cash flow swings from -$372.89 at 20% down to +$1,911.75 at 100% cash
20% down scenario produces estimated negative carry of $372.89 per month
Rent estimate sourced from widened comparables, not direct in-building comps
Student-tenant exposure can introduce turnover and seasonal vacancy
Condo maintenance fees can increase over time even when utilities are bundled
Aging high-rise condo stock in this corridor can face special assessment risk