Kerr Village 3-bed corner condo at $499,900 with 5.71% cap and positive carry from 20% down
Updated three-bedroom corner unit in Kerr Village priced at $499,900, generating an estimated 5.71% cap rate on $3,450 monthly rent. Cash flow is positive across all five leverage scenarios, anchored by a 10-minute walk to Oakville GO.
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
Section · Why this passed our floor
Where the income story is solid
Cap rate
5.71% — at or above our 4.0% cash-flow tier floor.
Breakeven leverage
20% down to clear neutral monthly carry. Below that the property runs negative; above it the carry compounds.
Positive carry at minimum down
Estimated $41 per month at 20% down, before tax-side considerations.
Rent backed by
Estimate sourced from city-wide comparables.
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.
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 |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=7).
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.
Target buyer is a cash-flow investor seeking a turnkey GTA condo that carries itself at standard leverage. The mechanic is straightforward: a 5.71% estimated cap rate on a $499,900 list price, with $3,450 in estimated monthly rent supporting positive carry from the 20% down scenario onward. The unit is described as "beautifully updated" with a "renovated white open-concept kitchen," removing near-term capex risk and shortening time-to-rent. Three bedrooms plus two bathrooms broadens the tenant pool to small families and roommate households, both underserved in Oakville's condo stock.
Kerr Village sits in Oakville's CO Central submarket, walking distance to Lake Ontario, Sixteen Mile Creek, and Whole Foods, with the listing noting a "10 min walk to Oakville GO" station on the Lakeshore West line into Union. QEW access pulls in commuters heading toward Mississauga and the 403/407 employment corridors. The building has "newer balconies and windows (2022)," and the listing flags that "Renovations to common areas, hallways, and exterior cladding scheduled for 2026" are already planned, meaning the major envelope work is funded rather than looming as a special assessment risk. Kerr Village itself is densifying with low-rise mixed-use redevelopment along Speers Road and Kerr Street.
At 35% down, estimated monthly cash flow lifts to $478.98 with a 3.03% cash-on-cash return; at 50% down, $916.90 monthly and 4.15% cash-on-cash. Recommended entry is 35% down for investors balancing carry and capital deployment. Hold period is 60 plus months to ride through the 2026 common-area program and capture rent growth as Oakville GO ridership recovers. Refinance window opens once the cladding work completes and unit comparables reprice.
Key features
- 3 bedrooms, 2 bathrooms, corner unit with north-east exposure
- Primary bedroom with ensuite bathroom and in-suite laundry
- Renovated open-concept kitchen with stainless steel appliances
- Floor-to-ceiling windows
- Newer balconies and windows (2022), 2 AC units (2020)
- Common-area, hallway, and exterior cladding renovations scheduled for 2026
- 10-minute walk to Oakville GO; QEW access
- Pet-friendly building (max 2 pets), ample above-ground guest parking
- Steps to Kerr Village retail, Whole Foods, Lake Ontario, Sixteen Mile Creek
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 a walkable Oakville node along Speers Road and Kerr Street, anchored by Whole Foods, independent restaurants, and proximity to Lake Ontario and Sixteen Mile Creek. The Oakville GO station, on the Lakeshore West line into Union Station, is roughly a 10-minute walk, and the QEW provides road access toward Mississauga and downtown Oakville's retail core.
The submarket has been densifying with mid-rise mixed-use proposals along Speers, and the building itself has scheduled common-area, hallway, and cladding renovations for 2026, indicating reserve-funded capital planning rather than deferred maintenance.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Condo fees and a 2026 common-area renovation program may pressure reserves; review status certificate and reserve fund study before closing.
Rent estimate is sourced from widened comparables rather than direct in-building comps; verify achievable rent before underwriting.
Leverage sensitivity is high: at 20% down estimated monthly cash flow is only $41.06, leaving little buffer for vacancy or rate resets.
Reported interior size is 92 (likely sqm or a data anomaly); confirm actual square footage before pricing rent.
Oakville condo resale liquidity can be slower than freehold; plan for a longer marketing window on exit.