Renovated Clarkson Village detached in Lorne Park school catchment with walk-out in-law suite potential
Three-bedroom detached on Kos Boulevard inside the Lorne Park school boundary, renovated with a walk-out lower level configured for a secondary suite. Listed at $1,088,000 with an estimated 1.38% cap rate; the income upside depends on legalizing and tenanting the lower-level unit.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,088,000
Cap rate
+1.38%
Est. monthly rent
$3,000
Source: comparables_widened
Est. net spread
+$246K
6mo hold
Annualized ROI
+45%
preliminary
Section · Why this passed our floor
What lifts the math here
Current cap
1.38% 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
$246,010 estimated over a 6-month hold using default market reno costs and the underwritten rent source.
Recommended leverage
100% 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 | $380,800 |
| Mortgage principal | $707,200 |
| Land transfer tax | $16,320 |
| Closing costs | $16,320 |
| Total acquisition | $413,440 |
Monthly cash flow
| Estimated rent | +$3,000 |
| Operating expenses | -$1,750 |
| Mortgage payment | -$4,130 |
| Net cash flow | -$2,880/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $150/mo |
| Maintenance reserve | $907/mo |
| Insurance | $453/mo |
| Property management | $240/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=25).
Breakeven
This property turns cash-flow positive at 80.3% 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 ($16,320), and closing costs ($16,320).
Section · Investment Thesis
Why this property.
This listing suits a value-add buyer-occupier or long-hold investor who can finance at high equity and execute on the lower-level suite. The walk-out level already includes two bedrooms, a kitchenette, and separate laundry, so the conversion path is configuration and compliance rather than structural work. At $1,088,000 with an estimated 1.38% cap rate on current single-tenancy assumptions, the thesis is NOI lift through a second rental stream, not day-one yield.
The submarket anchor is the Lorne Park school catchment, which the listing names explicitly, paired with Clarkson Village retail and the Clarkson GO Station on the Lakeshore West line. Lakeshore West GO service into Union Station underpins the commuter-buyer pool that supports Lorne Park resale pricing. The lot backs onto trails and a playground, which limits rear-yard development risk and supports family-buyer demand on exit. Mississauga's Lorne Park pocket is established low-density freehold; supply of renovated detached product inside the Lorne Park SS boundary at this price point is structurally thin, which is the resale lever.
Execution requires 100% cash to clear monthly carry: estimated monthly cash flow is $1,250.00 at all-cash versus negative $338.50 at 75% down. Realistic financed buyers should plan for negative carry through the suite legalization and lease-up period, then refinance against a higher post-conversion appraisal. Target hold is 60 months or longer to capture both the income conversion and catchment-driven appreciation.
Key features
- 3-bedroom, 3-bathroom detached, renovated
- Inside the Lorne Park School boundary
- Walk-out lower level with 2 bedrooms, kitchenette, separate laundry
- In-law suite or secondary rental potential
- Backs onto trails and a playground
- Minutes to Clarkson GO Station and Clarkson Village retail
- New open-concept kitchen with granite and island
- Hardwood floors on main level
Original MLS description
Rare opportunity to own a detached home in the highly coveted Lorne Park School boundary at an incredible price point! Perfectly situated on the border of Lorne Park in the heart of Clarkson Village, this immaculately renovated 3-bedroom, 3-bathroom residence is the quintessential starter home for the discerning family. The main level welcomes you with gleaming hardwood floors and a spectacular brand-new open-concept kitchen, complete with premium granite countertops, a custom backsplash, and a large center island designed for gathering. The seamless flow continues to the upper level, ensuring a cohesive and modern feel throughout. The walk-out lower level is a true game-changer, offering a spacious recreation room with durable vinyl flooring. With two additional large bedrooms, a convenient kitchenette, and separate laundry, this level provides incredible potential for a private in-law suite or a mortgage-helping rental unit. Step outside to a backyard that serves as your private oasis, backing directly onto lush trails and a playground essentially extending your outdoor living space into nature. Located just minutes from the Clarkson GO Station, boutique shopping, and vibrant entertainment, this home offers the prestige of a world-class school district with the convenience of urban amenities. Move-in ready and priced to sell, this is a must-see property that checks every box on your list. (42865205)
Section · Neighborhood
Where it sits.
Lorne Park
Kos Boulevard sits on the Lorne Park / Clarkson Village border in south Mississauga, inside the Lorne Park Secondary School catchment that drives premium pricing for detached product in this pocket. The Clarkson GO Station on the Lakeshore West line provides direct commuter rail to Union Station, and Clarkson Village offers walkable retail and dining.
The immediate setting backs onto trails and a playground, an amenity that supports family-buyer demand and protects the rear exposure from future infill density.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Negative monthly cash flow at all financed scenarios (20%, 35%, 50%, 75% down); only 100% cash produces positive carry
High leverage sensitivity: cash flow swings from -$3,833.20/month at 20% down to +$1,250.00/month at all-cash
Estimated rent of $3,000/month is based on widened comparables, not direct subject comps
Secondary-suite income depends on legalization, permitting, and tenanting the walk-out level; not yet a legal duplex per listing language
Cap rate of 1.38% is well below typical investor thresholds; thesis relies on NOI conversion and catchment appreciation, not day-one yield
Reported sqft figure of 139 appears to be a data error and should be verified before underwriting