Updated 3-Bed Corner Condo in Kerr Village, Oakville, Positive Carry from 20% Down
A renovated 3-bedroom, 2-bathroom corner condo in Oakville's Kerr Village priced at $499,900, with an estimated 5.71% cap rate and positive monthly cash flow across all five down-payment scenarios. A 10-minute walk to Oakville GO and steps from Lake Ontario, Whole Foods, and Kerr Village retail.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$499,900
Cap rate
+5.71%
Est. monthly rent
$3,450
Source: comparables_widened
CF at 20% down
+$41/mo
first positive
Cash-on-cash
+0.43%
at 20% down
The Deal
A renovated 3-bedroom, 2-bathroom corner condo in Oakville's Kerr Village priced at $499,900, with an estimated 5.
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 | $174,965 |
| Mortgage principal | $324,935 |
| Land transfer tax | $7,499 |
| Closing costs | $7,499 |
| Total acquisition | $189,962 |
Monthly cash flow
| Estimated rent | +$3,450 |
| Operating expenses | -$1,073 |
| Mortgage payment | -$1,898 |
| Net cash flow | +$479/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $173/mo |
| Maintenance reserve | $417/mo |
| Insurance | $208/mo |
| Property management | $276/mo |
Math by deterministic Python calculator. Rate 4.99% over 25 years. Rent source: comparables_widened (7 comps).
Breakeven
This property turns cash-flow positive at 18.6% 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 ($7,499), and closing costs ($7,499).
Section · Investment Thesis
Why this property.
This 3-bedroom, 2-bathroom corner unit at 20 Speers Road is listed at $499,900 in Oakville's Kerr Village, a walkable lakeside district with established retail and an ongoing infill cycle. Estimated gross annual rent is $41,400 against estimated monthly operating expenses of $1,073.38, producing an estimated annual NOI of $28,519.50, an estimated cap rate of 5.71%, and an estimated gross yield of 8.28%. The renovated interior, in-suite laundry off the primary, and scheduled 2026 common-area upgrades reduce near-term capex risk for a buy-and-hold investor.
Leverage sensitivity is meaningful but unusually forgiving for a GTA condo: every scenario projects positive carry at current rents. At 20% down ($99,980, mortgage $399,920 at 4.99% over 25 years), the estimated monthly mortgage is $2,335.56 and estimated monthly cash flow is $41.06, a thin 0.43% cash-on-cash return that leaves no margin for vacancy or rate resets. At 35% down, estimated monthly cash flow improves to $478.98 (3.03% cash-on-cash), and at 50% down it reaches $916.90 (4.15%). The 75% down scenario projects $1,646.76 monthly (5.07%), and an all-cash purchase projects $2,376.62 monthly (5.54%).
The minimum recommended down payment for durable positive carry is 35%, where the buffer above breakeven absorbs realistic vacancy and maintenance variance; the 20% scenario is technically positive but fragile. Investors targeting cushion against rate renewals or a softer rental market should look at the 50% scenario, where estimated cash flow of $916.90 per month provides meaningful coverage.
Hold-period implications favour a 60+ month horizon. The thesis combines current cash flow with a Kerr Village location that is 10 minutes on foot from Oakville GO and steps from Lake Ontario, plus a scheduled 2026 building exterior and common-area renovation that the listing notes as adding future value. With no recent sold comparables provided, underwriting should rely on the stated cap rate and rent assumptions rather than projected appreciation.
Key features
- 3-bedroom, 2-bathroom corner unit with northeast exposure
- Primary bedroom with ensuite bathroom and in-suite laundry
- Renovated open-concept kitchen with stainless steel appliances
- Floor-to-ceiling windows, move-in ready
- Pet-friendly building (max 2 pets)
- Balconies and windows replaced in 2022; 2 AC units (2020)
- Common-area, hallway, and exterior cladding renovations scheduled for 2026
- 10-minute walk to Oakville GO; steps to Kerr Village, Whole Foods, Lake Ontario
- Listed maintenance fee and property tax inputs are $0 in the supplied financials
Original MLS description
Stunning Sun filled Corner unit with gorgeous sunset views right in the heart of Kerr Village. This beautifully updated 3 bedroom, 2 Bathroom open-concept condo features a Primary bedroom with its own ensuite bathroom & laundry - a rare find. Floor-to-ceiling windows flood the space with natural light, showcasing the desirable north-east corner exposure and sweeping views. The spacious, renovated white open-concept kitchen features stainless steel appliances, upgraded lighting, and flows seamlessly into the living and dining areas-perfect for hosting friends. No need to renovate, just move in! Step outside and embrace the lifestyle: the building offers a large outdoor common area, ideal for kids to play or for walking your puppies in this pet-friendly building (max 2 pets). Enjoy ample above-ground guest parking, low property taxes, and peace of mind with newer balconies and windows (2022). Includes ample above-ground guest parking. Unbeatable location with steps to Kerr Village shops, restaurants, Lake Ontario, Whole Foods, Sixteen Mile Creek, and just a 10 min walk to Oakville GO with quick access to the QEW & downtown Oakville, known for its upscale cafés, boutiques, and fine dining. 2 AC Units (2020). Renovations to common areas, hallways, and exterior cladding scheduled for 2026, adding future value. (42865926)
Section · Neighborhood
Where it sits.
CO Central
Kerr Village is one of Oakville's older walkable retail strips, anchored by independent restaurants, Whole Foods, and proximity to Lake Ontario and Sixteen Mile Creek. The property sits roughly a 10-minute walk from Oakville GO, providing direct Lakeshore West rail access to downtown Toronto, and offers quick QEW access for car commuters.
Rental demand in the area is supported by GO transit access, the South Oakville employment base, and overflow demand from downtown Oakville renters priced out of the core. The scheduled 2026 building renovation to common areas, hallways, and exterior cladding is a defined near-term improvement to the asset.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: estimated monthly cash flow ranges from $41.06 at 20% down to $2,376.62 at 100% cash; the 20% scenario leaves minimal buffer for vacancy or rate renewal.
Supplied financials show monthly property tax of $0 and maintenance fee of $0; investors must verify actual condo fees and tax assessment before underwriting, as these are atypical for a condo and may materially alter cash flow.
Rent estimate of $3,450/month is sourced from 'comparables_widened' with 7 comparables; actual achievable rent should be validated against current Kerr Village listings.
No recent sold comparables available, limiting visibility into recent price discovery for the building.
Reported interior area is 92 (likely square metres, approximately 990 sqft); confirm exact size and layout before purchase.
2026 scheduled building renovations may trigger special assessments not reflected in current operating costs.