Renovated Bathurst Manor detached with legal 2-bed basement apartment, listed at $1,598,000
Fully rebuilt detached home in Bathurst Manor with a legal 2-bedroom basement apartment, separate entrance, and city-approved permits. Carry is negative across all leveraged scenarios at the modeled rent of $2,800/month; the property only reaches positive monthly cash flow on a full cash purchase.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,598,000
Cap rate
+0.33%
Est. monthly rent
$2,800
Source: comparables_widened
CF at 100% cash
+$439/mo
+0.3% CoC
Hold period
60+ mo
planned
The Deal
Fully rebuilt detached home in Bathurst Manor with a legal 2-bedroom basement apartment, separate entrance, and city-approved permits.
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 | $559,300 |
| Mortgage principal | $1,038,700 |
| Land transfer tax | $23,970 |
| Closing costs | $23,970 |
| Total acquisition | $607,240 |
Monthly cash flow
| Estimated rent | +$2,800 |
| Operating expenses | -$2,362 |
| Mortgage payment | -$6,066 |
| Net cash flow | -$5,628/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $140/mo |
| Maintenance reserve | $1,332/mo |
| Insurance | $666/mo |
| Property management | $224/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 95.3% 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 ($23,970), and closing costs ($23,970).
Section · Investment Thesis
Why this property.
185 Acton Avenue is listed at $1,598,000 in Toronto's Bathurst Manor neighbourhood. The home has been rebuilt top to bottom with architectural plans, city permits, inspections, and occupancy approval, and includes a legal 2-bedroom basement apartment with separate entrance plus a flexible guest suite or office. On a leverage-agnostic basis, the estimated cap rate is 0.33% and gross yield is 2.10%, with estimated annual NOI of $5,262 against $33,600 in projected gross annual rent. These yields reflect the rent comparable set used ($2,800/month, based on 63 widened comparables) rather than the full income potential of a main floor plus basement plus guest suite configuration; investors who can lease all units separately may model materially higher rent than the figure used here.
Leverage sensitivity on this property is high, and carry is negative in every financed scenario at the modeled rent. At 20% down ($319,600), the estimated monthly mortgage payment is $7,465.95 and projected monthly cash flow is -$7,027.45, a cash-on-cash return of -22.94%. At 35% down ($559,300), monthly cash flow improves to -$5,627.59 (-11.12% cash-on-cash). At 50% down ($799,000), projected monthly cash flow is -$4,227.72 (-5.99%). At 75% down ($1,198,500), the gap narrows to -$1,894.61 per month (-1.82%). Only a 100% cash purchase ($1,598,000) produces positive carry, at an estimated +$438.50 per month and a 0.32% cash-on-cash return. The minimum recommended scenario for neutral or positive monthly carry is therefore 100% cash.
The investment case here is not yield. It is a Bathurst Manor land-and-house play: a fully rebuilt detached home with permits and an income-generating legal basement suite, in a stable North York pocket close to TTC, the subway, Yorkdale Mall, top-rated schools, parks, and highways. The thesis is owner-occupier with rental offset, or long-hold appreciation with the basement income subsidizing carry. Buyers underwriting this purely as a rental should expect to fund negative cash flow for an extended period unless rents materially exceed the modeled figure.
Recommended hold is 60+ months given the negative carry on any financed structure and the appreciation-driven nature of the thesis. Estimated land transfer tax and closing costs total approximately $47,940 combined. Total estimated acquisition cost ranges from $367,540 at 20% down to $1,645,940 on an all-cash basis. All figures are estimates only.
Key features
- Fully renovated detached home with architectural plans, city permits, and occupancy approval
- Legal 2-bedroom basement apartment with separate entrance and above-grade windows
- 3 bedrooms on main floor plus additional guest suite/office space
- 6 bathrooms total including basement ensuite
- Engineered hardwood, designer lighting, Spanish porcelain feature wall, EV charger
- KitchenAid stainless steel appliances and chef-style kitchen with island
- All windows replaced; smart low-voltage, security cameras, central vacuum
- Walking distance to TTC bus routes; close to Sheppard West and Wilson subway stations, Yorkdale Mall, Highway 401
Original MLS description
***MOTIVATED SELLER*** Welcome to this stunning top-to-bottom fully renovated luxury home in prestigious Bathurst Manor. 185 Acton Ave has been completely redesigned with architectural plans, city permits, inspections, and occupancy permit approval, offering exceptional quality, comfort, and peace of mind.Featuring a dramatically improved OPEN-CONCEPT Living Area & Kitchen with around 9-ft ceilings, abundant natural light, and redesigned access from the Main Floor & Living Area to the Backyard - a rare and highly functional upgrade for modern family living. Elegant Powder Room, engineered hardwood flooring, designer lighting, and high-end finishes throughout.The spectacular living space showcases a sleek Electric Fireplace with a breathtaking Spanish Porcelain TV Wall, Built-in Speakers, Smart Low-Voltage upgrades, Security Camera System, Central Vacuum, and EV Charger.The chef-inspired kitchen offers premium cabinetry, spacious island, and high-end KitchenAid stainless steel appliances seamlessly integrated with the living and dining areas.Functional family-friendly layout featuring 3 spacious bedrooms on the Main Floor plus a professionally finished LEGAL 2-bedroom basement apartment with separate entrance, large above-grade windows, and 2 full bathrooms including one ensuite. Additional Guest Suite / Office space offers flexibility for extended family, work-from-home setup, nanny suite, or additional income potential.All windows replaced with high-end modern windows. Entire home professionally rebuilt with exceptional craftsmanship and city-approved construction standards.Prime North York location close to TTC, Subway, Yorkdale Mall, top-rated schools, parks, highways, shopping, restaurants & all amenities.***Rare opportunity to own a fully redesigned luxury home with legal basement apartment, flexible guest/office space, premium finishes, and outstanding income potential. Truly Move-In Ready!*** (42844176)
Section · Neighborhood
Where it sits.
Bathurst Manor
Bathurst Manor is an established North York residential pocket bounded by Sheppard, Bathurst, Wilson Heights, and Dufferin. The area is anchored by mature single-family housing, top-rated schools, parks, and synagogue and community infrastructure, with TTC bus access connecting to Sheppard West and Wilson subway stations on Line 1. Yorkdale Mall, Highway 401, and Allen Road are all within a short drive, supporting both end-user demand and rental demand from families and professionals working across the GTA.
Demand drivers in this submarket are skewed toward end-users and long-hold owners rather than yield-focused investors. Renovated detached inventory with legal secondary suites is relatively scarce, which can support resale liquidity over a longer hold.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: monthly cash flow is negative in all financed scenarios (20%, 35%, 50%, and 75% down) at the modeled rent of $2,800/month
Only a 100% cash purchase produces positive monthly carry, and even then cash-on-cash return is just 0.32%
Estimated cap rate of 0.33% and gross yield of 2.10% are well below typical investor thresholds; thesis depends on appreciation and/or higher achievable rents than modeled
Modeled rent ($2,800/month) may understate full income potential of a main floor plus legal basement plus guest suite configuration; investors should verify achievable rents independently
Property tax shown as $0 in financials, which is likely a data gap; buyers should confirm actual municipal tax assessment
Motivated seller language in listing may indicate price flexibility but also warrants diligence on time on market and prior list history
Total acquisition cost on a cash basis exceeds $1.6M, concentrating capital in a single asset