Updated 2-bed Clarkson condo near GO Station, breakeven at 35% down
A renovated two-storey condo in Mississauga's Clarkson neighbourhood, walking distance to the Clarkson GO Station and listed at $449,999. Estimated cap rate of 4.76% with positive carry beginning at the 35% down scenario.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$449,999
Cap rate
+4.76%
Est. monthly rent
$2,700
Source: comparables_widened
CF at 35% down
+$78/mo
first positive
Cash-on-cash
+0.55%
at 35% down
The Deal
A renovated two-storey condo in Mississauga's Clarkson neighbourhood, walking distance to the Clarkson GO Station and listed at $449,999.
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 | $157,500 |
| Mortgage principal | $292,499 |
| Land transfer tax | $6,750 |
| Closing costs | $6,750 |
| Total acquisition | $171,000 |
Monthly cash flow
| Estimated rent | +$2,700 |
| Operating expenses | -$914 |
| Mortgage payment | -$1,708 |
| Net cash flow | +$78/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $135/mo |
| Maintenance reserve | $375/mo |
| Insurance | $188/mo |
| Property management | $216/mo |
Math by deterministic Python calculator. Rate 4.99% over 25 years. Rent source: comparables_widened (45 comps).
Breakeven
This property turns cash-flow positive at 32.0% 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 ($6,750), and closing costs ($6,750).
Section · Investment Thesis
Why this property.
This two-bedroom, two-bath two-storey condo at 48 - 2001 Bonnymede Drive is listed at $449,999 in Mississauga's Clarkson pocket. The unit has been updated with a renovated kitchen, granite countertops, new appliances, upgraded laminate flooring, refreshed washrooms, and California closet storage throughout, reducing near-term capex exposure for an incoming investor. Estimated gross annual rent is $32,400 against an estimated annual NOI of $21,438.01, producing an estimated cap rate of 4.76% and a gross yield of 7.20%, competitive for a turnkey GTA condo near rapid transit.
Leverage sensitivity on this asset is meaningful. At 20% down ($89,999.80, with an estimated monthly mortgage of $2,102.42), estimated monthly cash flow is negative $315.92 and cash-on-cash is estimated at -3.66%. Moving to 35% down ($157,499.65) crosses into positive territory with estimated monthly cash flow of $78.28 and a cash-on-cash estimate of 0.55%. At 50% down ($224,999.50), estimated monthly cash flow rises to $472.49 (cash-on-cash 2.38%); at 75% down it reaches $1,129.49 (cash-on-cash 3.86%); and an all-cash purchase at $449,999 yields estimated monthly cash flow of $1,786.50 and cash-on-cash of 4.63%. The minimum recommended down payment for neutral-to-positive carry is 35%.
The investment case rests on Clarkson's transit-oriented demand profile. The building is within walking distance of the Clarkson GO Station on the Lakeshore West line, a direct commuter link to downtown Toronto, and is surrounded by everyday retail amenities. Building amenities include a saltwater indoor pool, and the listing notes that major recent renovations have been completed at the corporate level, which can help stabilize maintenance fee trajectory.
Hold-period implications: at 20% leverage, the property requires monthly capital injection and is best suited to investors prioritizing long-term equity build over current yield. At 35% or higher down, the asset carries itself on estimated figures, making it appropriate for a 60+ month hold targeting a combination of principal paydown and Clarkson-corridor appreciation tied to GO Transit access.
Key features
- Two-bedroom, two-bath two-storey condo layout
- Renovated kitchen with granite counters and new appliances
- Upgraded laminate flooring, fresh paint, newer washrooms
- California closet storage throughout
- Extra-large locker (5'5" x 15'11") on same floor as unit
- Walk-out balcony from living room
- Saltwater indoor pool in building
- Walking distance to Clarkson GO Station
- Building has completed major recent renovations
Original MLS description
Beautifully updated and move-in ready, this bright and spacious two-storey condo in Clarkson offers comfort, convenience, and exceptional value. The home features a newly renovated kitchen with granite countertops, ceramic backsplash, and new appliances, along with upgraded laminate flooring, fresh paint, newer washrooms, and generous storage throughout with California closets. Additionally there is an extra large locker (5'5" x 15'11") located on the same floor as the unit.The main floor is filled with natural light and offers a walk-out from the living room to a private balcony, creating a warm and functional living space. The dining room also offers flexibility and could potentially serve as a den, home office, or additional sitting area.Ideally located within walking distance to shops, everyday amenities, and the Clarkson GO Station, this well-maintained building has also benefited from major recent renovations and offers excellent amenities, including a saltwater indoor pool. This is a clean, updated, and practical opportunity in a convenient Mississauga location. (42866508)
Section · Neighborhood
Where it sits.
Clarkson
Clarkson is an established south Mississauga neighbourhood anchored by the Clarkson GO Station on the Lakeshore West line, providing frequent, direct rail service to Union Station. The subject building is within walking distance of the station as well as local shops and everyday amenities, supporting tenant demand from commuters who want lower price points than central Toronto while retaining downtown access.
The broader corridor benefits from proximity to the QEW, Sheridan College, and lakefront parks, with ongoing intensification along Lakeshore Road West. Two-bedroom units in well-managed buildings tend to draw small families and roommate households, both relevant tenant pools for this floor plan.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: 20% down scenario produces estimated negative monthly cash flow of $315.92; investor needs 35% or more down for positive carry on estimates.
Maintenance fee shown as $0 in financial inputs, which is atypical for a condo; verify actual monthly condo fees with listing brokerage before underwriting, as a realistic fee will compress NOI and cash flow.
Property tax shown as $0 in financial inputs; verify actual annual property tax, as inclusion will reduce estimated NOI and cap rate.
Rent estimate of $2,700/month is sourced from widened comparables (45 comps); actual achievable rent should be verified against current Clarkson two-bedroom listings.
Reported sqft of 92 appears to be a data field anomaly; confirm true interior square footage before purchase.
No recent sold comparables available in dataset, limiting price benchmarking.