4+1 Bed Detached in Ajax Lakeside Backing onto Parkland, In-Law Suite Potential
Detached 4+1 bedroom home in Ajax's Lakeside community listed at $925,000, with a finished basement offering in-law suite potential and direct garage access. Estimated cap rate of 2.34% and negative leveraged carry mean this property suits owner-occupiers or high-equity investors seeking a long-hold position in south Ajax.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$925,000
Cap rate
+2.34%
Est. monthly rent
$3,400
Source: comparables_widened
CF at 100% cash
+$1,802/mo
+2.3% CoC
Hold period
60+ mo
planned
The Deal
Detached 4+1 bedroom home in Ajax's Lakeside community listed at $925,000, with a finished basement offering in-law suite potential and direct garage access.
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 | $323,750 |
| Mortgage principal | $601,250 |
| Land transfer tax | $13,875 |
| Closing costs | $13,875 |
| Total acquisition | $351,500 |
Monthly cash flow
| Estimated rent | +$3,400 |
| Operating expenses | -$1,598 |
| Mortgage payment | -$3,511 |
| Net cash flow | -$1,710/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $170/mo |
| Maintenance reserve | $771/mo |
| Insurance | $385/mo |
| Property management | $272/mo |
Math by deterministic Python calculator. Rate 4.99% over 25 years. Rent source: comparables_widened (16 comps).
Breakeven
This property turns cash-flow positive at 66.6% 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 ($13,875), and closing costs ($13,875).
Section · Investment Thesis
Why this property.
This 4+1 bedroom, 3 bathroom detached home at 37 Banner Crescent is listed at $925,000 in Ajax's Lakeside community. The estimated gross annual rent is $40,800 against an annual NOI of $21,621, producing an estimated cap rate of 2.34% and gross yield of 4.41%. The finished basement with direct garage access offers a path to an in-law or secondary suite, which is the primary value-add lever here; without that conversion, the in-place rent thesis is thin relative to the purchase price.
Leverage sensitivity on this property is high. At 20% down ($185,000), estimated monthly cash flow is -$2,519.91 with a cash-on-cash return of -14.21%. At 35% down it remains negative at -$1,709.60 monthly (-5.84% cash-on-cash), and at 50% down the estimated monthly carry is still -$899.28 (-2.20%). The property only approaches positive carry at 75% down, where estimated monthly cash flow is +$451.23 (0.75% cash-on-cash), and reaches +$1,801.75 monthly on an all-cash basis (2.27%). The minimum recommended down payment for neutral or positive carry is therefore 75%.
Given the negative carry under conventional leverage, this asset is best framed as a long-hold appreciation and end-user play rather than a yield investment. Investors willing to deploy substantial equity, or to execute the basement in-law suite conversion to add a second income stream, can improve the economics materially. A 60+ month hold is appropriate to ride out carry costs and capture south Ajax appreciation tied to GO Transit expansion and Highway 401 access.
All figures above are estimates based on current comparables and assumed financing at 4.99% over a 25-year amortization. Actual rent, expenses, and financing terms will vary. Anatoli Chtcherbatov at Sutton Group Admiral Realty can walk through the scenarios in detail.
Key features
- 4+1 bedrooms, 3 bathrooms, detached
- Finished basement with direct garage access, in-law suite potential
- Backs onto parkland and walking trails (30 x 10 ft walk-out deck)
- Open-concept layout, freshly painted main floor, modern eat-in kitchen with stainless steel appliances
- Minutes to Highway 401 and Ajax GO Station
- Walkable to schools, shopping, parks, and Lake Ontario
Original MLS description
Beautiful 4+1 bedroom, 3 bathroom home in Ajax's desirable Lakeside community. Features abright open-concept layout, freshly painted main floor, and a modern eat-in kitchen withstainless steel appliances. The finished basement offers potential for an in-law suite withdirect garage access. Enjoy a large walk-out deck (30 x 10 ft) backing onto parkland and walking trails, providingprivacy and scenic views. Located in a quiet, family-friendly neighbourhood, minutes to Hwy401, Ajax GO Station, schools, shopping, parks, and the lake. Perfect for families or investors- book your private showing today! (42861955)
Section · Neighborhood
Where it sits.
South West
South West Ajax (Lakeside) is an established family-oriented neighbourhood in Durham Region with proximity to Lake Ontario, the Ajax waterfront trail system, and parkland. The property sits minutes from Highway 401 and Ajax GO Station, providing direct GO Train access to downtown Toronto, a key demand driver for both end-user buyers and tenants commuting west into the GTA.
Demand fundamentals in Ajax are supported by Durham Region population growth, ongoing GO Transit service improvements on the Lakeshore East line, and relative affordability versus comparable detached product in Toronto and Pickering. The immediate street backs onto parkland and walking trails, a feature that supports owner-occupier resale demand over the hold.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: negative estimated monthly cash flow at 20%, 35%, and 50% down scenarios
Estimated cap rate of 2.34% is below typical investor yield thresholds for GTA detached product
Property tax data shows $0 in source records; buyers should verify actual annual property tax with the listing agent and municipality before underwriting
In-law suite conversion is described as potential, not existing; rental upside depends on permitting and capital expenditure
Reported sqft of 102 in source data appears to be a data entry error and should be verified
Rent estimate based on widened comparables (16 comps); actual achievable rent may vary