Renovated Downtown Brampton bungalow with basement-suite conversion potential, walk to GO
Turnkey 3-bed bungalow in Downtown Brampton with an unfinished basement already roughed for a separate-entrance rental suite. Listed at $649,000 with estimated cap rate of 3.16%, the thesis is NOI lift through legal second-unit conversion.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$649,000
Cap rate
+3.16%
Est. monthly rent
$2,900
Source: comparables_widened
Est. net spread
+$148K
6mo hold
Annualized ROI
+45%
preliminary
Section · Why this passed our floor
What lifts the math here
Current cap
3.16% 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
$147,642 estimated over a 6-month hold using default market reno costs and the underwritten rent source.
Recommended leverage
50% 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 | $227,150 |
| Mortgage principal | $421,850 |
| Land transfer tax | $9,735 |
| Closing costs | $9,735 |
| Total acquisition | $246,620 |
Monthly cash flow
| Estimated rent | +$2,900 |
| Operating expenses | -$1,188 |
| Mortgage payment | -$2,464 |
| Net cash flow | -$752/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $145/mo |
| Maintenance reserve | $541/mo |
| Insurance | $270/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 54.8% 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 ($9,735), and closing costs ($9,735).
Section · Investment Thesis
Why this property.
Target investor: a value-add operator who can underwrite a basement-suite conversion. The main level has been fully renovated, so capital can be focused on the lower level, which already includes a 3-piece bathroom and dedicated laundry. List price is $649,000 and the as-is estimated cap rate is 3.16%, with estimated monthly rent of $2,899.50 reflecting single-unit market rent. The mechanic here is converting unfinished space with a separate entrance into a second income stream, lifting NOI over a 24 to 36 month horizon.
Downtown Brampton sits within walking distance of the Brampton GO Station on the Kitchener line, which feeds Union Station and is part of Metrolinx's GO Expansion program for two-way all-day service. The immediate catchment includes Gage Park and the Rose Theatre, anchoring the city's cultural core, and the Riverwalk flood remediation project is unlocking redevelopment capacity across the downtown block grid. Brampton's official plan targets significant intensification around the GO node, and the McMurchy corridor benefits from proximity to Highway 410 and the Queen Street transit priority corridor under study by the City of Brampton. Demand for legal second suites in this catchment is supported by Sheridan College's Davis Campus to the north.
Execution: at 20% down the estimated monthly cash flow is negative $1,320.85 on a single-unit rent basis, so the as-is hold does not pencil at high leverage. The recommended structure is 50% down, where the estimated shortfall narrows to $183.79 per month, with the basement-suite conversion closing the gap and pushing the asset into positive carry. Target hold is 36 to 60 months: complete the suite in year one, stabilize rents, then refinance against the lifted NOI.
Key features
- Fully renovated main level with stainless appliances and oversized island
- Unfinished basement with separate-entrance potential, 3-piece bath, and dedicated laundry
- Detached single-car garage plus three driveway spaces
- Walking distance to Brampton GO Station (Kitchener line)
- Minutes from Gage Park, Rose Theatre, and Downtown Brampton amenities
- 3-bedroom, 2-bathroom detached bungalow
Original MLS description
Welcome to this beautifully fully renovated 3-bedroom bungalow, perfectly nestled in one of Brampton's most established and family-friendly neighbourhoods. Thoughtfully updated throughout, this home offers a seamless blend of modern finishes and comfortable living, making it an ideal choice for first-time buyers, young families, or those looking to downsize without compromise. The main level features a bright and inviting layout, highlighted by a stylish kitchen complete with stainless steel appliances, sleek cabinetry, and an oversized island with a breakfast bar-perfect for casual dining and entertaining. The living spaces are warm and functional, offering an ideal setting for both everyday living and hosting guests.The unfinished basement presents an incredible opportunity to create a rental unit with a separate entrance. Already equipped with a 3-piece bathroom and dedicated laundry area, the lower level is a blank canvas ready for your personal touch. Outside, enjoy the convenience of a detached single-car garage along with three additional parking spaces on the private driveway. Located just minutes from Downtown Brampton, Gage Park, and the Rose Theatre, this home offers exceptional lifestyle convenience. Walking distance to the Brampton GO Station makes commuting a breeze, while nearby top-rated schools, community centres, places of worship, shopping, dining, and everyday essentials ensure everything you need is close at hand. Surrounded by parks, trails, and green space, this is a wonderful opportunity to enjoy both urban convenience and outdoor living. A true turnkey home in a highly desirable location, don't miss it! - Some photos are virtually enhanced/staged (42845537)
All photos
23 additional · click any to expand
Section · Neighborhood
Where it sits.
Downtown Brampton
Downtown Brampton is the city's designated Urban Growth Centre, anchored by Gage Park, the Rose Theatre, and the Brampton GO Station on the Kitchener line. The McMurchy Avenue corridor sits within walking distance of the GO platform, giving tenants a one-seat commute to Union Station under GO Expansion service patterns.
The submarket is supported by Sheridan College's Davis Campus, William Osler Health System's Brampton Civic Hospital, and ongoing Riverwalk infrastructure planning intended to unlock further downtown intensification. Brampton's official plan directs density toward the GO node, supporting medium-term land-value appreciation in established bungalow blocks like this one.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: estimated monthly cash flow is negative at 20%, 35%, and 50% down on a single-unit rent basis
Rent estimate is sourced from widened comparables, not direct in-catchment comps, so underwriting carries above-average rent-assumption risk
Basement suite conversion requires municipal permits, fire code compliance, and capital outlay beyond list price; timeline and cost are not guaranteed
Sqft field in source data (65) appears to be a data error and should be verified against listing measurements
Cap rate of 3.16% reflects single-unit operation; thesis depends on executing the second-suite conversion to lift NOI