Hillcrest Village bungalow with side entrance and in-law suite potential on premium corner lot
Detached bungalow in Hillcrest Village offered for the first time in 50 years, with a separate side entrance to a large basement primed for a secondary suite conversion. The thesis is NOI lift through legal in-law suite buildout within the AY Jackson SS catchment.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,049,900
Cap rate
+1.28%
Est. monthly rent
$2,800
Source: comparables_widened
Est. net spread
+$241K
6mo hold
Annualized ROI
+46%
preliminary
Section · Why this passed our floor
What lifts the math here
Current cap
1.28% 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
$240,852 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 | $367,465 |
| Mortgage principal | $682,435 |
| Land transfer tax | $15,749 |
| Closing costs | $15,749 |
| Total acquisition | $398,962 |
Monthly cash flow
| Estimated rent | +$2,800 |
| Operating expenses | -$1,676 |
| Mortgage payment | -$3,985 |
| Net cash flow | -$2,862/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $140/mo |
| Maintenance reserve | $875/mo |
| Insurance | $437/mo |
| Property management | $224/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=63).
Breakeven
This property turns cash-flow positive at 81.7% 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 ($15,749), and closing costs ($15,749).
Section · Investment Thesis
Why this property.
Suited to a value-add investor or end-user-investor who can carry negative monthly operating numbers during a basement suite conversion. The mechanic is straightforward: the home already has a separate side entrance and a large basement with new basement windows, so the path to two legal income streams is shorter than for most North York bungalows. List price is $1,049,900 with an estimated cap rate of 1.28% on single-unit rent, which is the number a suite addition is designed to move.
Hillcrest Village sits inside the AY Jackson Secondary School, Zion Heights Middle School and Cresthaven Public School catchments, a school stack that anchors family resale demand. The site is minutes to Highways 401, 404 and DVP, Fairview Mall, Don Mills Subway Station on Line 4, and Seneca College's Newnham campus. Don Mills Station feeds the Sheppard subway and connects to the future Line 5 Eglinton Crosstown interchange at Don Mills/Eglinton, tying the catchment to the broader rapid-transit network. Fairview Mall and the Consumers Road employment node provide local rental demand for a converted two-unit configuration.
Execution favours the 100% cash scenario, which produces estimated monthly cash flow of $1,123.62 and a 1.25% cash-on-cash return on the single-unit rent baseline before any suite conversion. At 75% down the carry is roughly neutral at an estimated -$409.25 per month. Plan a 24 to 36 month hold to legalize the basement suite, re-tenant both units, and refinance on the post-conversion rent roll, or exit to an end-user family buyer drawn by the school catchment.
Key features
- Premium corner lot in Hillcrest Village
- Detached bungalow, first time offered in 50 years
- Separate side entrance to large basement
- In-law suite or income unit potential
- Renovated main level with new kitchen, flooring, and bathroom
- New front, side and basement windows/doors (2026)
- Rare attached garage plus private driveway
- AY Jackson SS, Zion Heights MS, Cresthaven PS catchment
- Minutes to Highways 401, 404, DVP, Fairview Mall, Don Mills Station
Original MLS description
First Time Ever Offered In Over 50 Years! Lovingly Maintained By The Same Owner For Half A Century, This Solid Detached Bungalow Sits On A Premium Corner Lot In The Highly Sought-After Hillcrest Village Community Of North York. The Main Level Has Been Beautifully Renovated And Features A Bright, Modern Interior With New Wide-Plank Flooring, Fresh Paint, Pot-Lights, Updated Trim, New Front and Side Doors ('26), Smooth Ceiling, Stylish Light Fixtures And A Completely Renovated Bathroom With Contemporary Finishes. Spacious Living And Dining Areas Filled With Natural Light Through Large Picture Windows ('26). Functional Layout With Generous-Sized Bedrooms And A Bright Eat-In Kitchen Ready For Your Personal Touch. Brand New Kitchen With Stone Counter, Stainless Steel Appliances & Pot-lights. Separate Side Entrance To A Large Basement With Expansive Recreation Area, Offering Incredible Potential For An In-Law Suite, Additional Living Space Or Future Income Possibilities, Plus All New Basement Windows ('26). Rare Attached Garage Plus Private Driveway With Ample Parking. Excellent Opportunity For End Users, Renovators, Investors Or Builders Looking To Secure A Property In One Of North York's Most Established Family Neighbourhoods. Surrounded By Mature Trees And Quiet Residential Streets While Still Minutes To Highways 401, 404 & DVP, Fairview Mall, Don Mills Subway Station, TTC, Seneca College, Parks, Community Centre And Everyday Amenities. Located Within The Highly Desirable AY Jackson SS, Zion Heights Middle School and Cresthaven Public School with nearby public and Catholic school options. (42872866)
Section · Neighborhood
Where it sits.
Hillcrest Village
Hillcrest Village is an established North York pocket bordered by Finch, Leslie, and Don Mills, dominated by 1960s and 1970s detached homes on generous lots. The school catchment (AY Jackson SS, Zion Heights MS, Cresthaven PS) is a primary demand driver for family buyers and renters, supporting both resale exit and tenant quality.
Connectivity is the secondary driver: Highways 401, 404 and the DVP are minutes away, Don Mills Subway Station on Line 4 provides one-transfer access to Yonge Line 1, and Seneca College's Newnham campus generates steady student rental demand within a short drive.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Negative monthly cash flow at every financed scenario from 20% to 75% down on single-unit rent; thesis requires basement suite conversion or near-all-cash purchase
High leverage sensitivity: estimated monthly cash flow swings from -$3,781.57 at 20% down to +$1,123.62 at 100% cash
Estimated cap rate of 1.28% is well below GTA debt cost; income thesis depends on adding a second legal unit
Basement suite legalization carries permit, fire-code, and timeline risk not reflected in the single-unit pro forma
Rent estimate sourced from widened comparables, not direct subject-property comps
Listed sqft figure of 65 appears to be a data entry artifact; verify actual square footage before underwriting