Detached estate-sale bungalow in downtown Burlington with value-add potential, walk to GO
A 3-bed, 1-bath detached home on a pool-sized lot in downtown Burlington, listed at $799,000 as an estate sale. Walkable to the GO Station, shops and the YMCA, with a separate basement entrance offering renovation and value-add upside.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$799,000
Cap rate
+3.33%
Est. monthly rent
$3,700
Source: comparables_widened
Est. net spread
+$131K
6mo hold
Annualized ROI
+31%
preliminary
The Deal
A 3-bed, 1-bath detached home on a pool-sized lot in downtown Burlington, listed at $799,000 as an estate sale.
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 | $279,650 |
| Mortgage principal | $519,350 |
| Land transfer tax | $11,985 |
| Closing costs | $11,985 |
| Total acquisition | $303,620 |
Monthly cash flow
| Estimated rent | +$3,700 |
| Operating expenses | -$1,480 |
| Mortgage payment | -$3,033 |
| Net cash flow | -$813/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $185/mo |
| Maintenance reserve | $666/mo |
| Insurance | $333/mo |
| Property management | $296/mo |
Math by deterministic Python calculator. Rate 4.99% over 25 years. Rent source: comparables_widened (21 comps).
Breakeven
This property turns cash-flow positive at 52.4% 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 ($11,985), and closing costs ($11,985).
Section · Investment Thesis
Why this property.
669 Drury Lane is a 1,100 sqft detached bungalow listed at $799,000 in downtown Burlington, positioned as a value-add play rather than a turn-key rental. At an estimated $3,700 monthly rent and $26,643 annual NOI, the estimated cap rate is 3.33% and gross yield is 5.56%, which is typical for owner-occupier-priced detached product in this submarket. The property is sold as-is (estate sale), and the separate entrance to the basement points to a potential secondary-suite conversion that could materially change the rent profile post-renovation.
Leverage sensitivity is high. At 20% down ($159,800), estimated monthly cash flow is -$1,512.73 with a cash-on-cash return of -9.88%. At 35% down, estimated cash flow improves to -$812.79 (-3.21% cash-on-cash). The 50% down scenario brings the property close to breakeven at -$112.86 per month (-0.32% cash-on-cash). Positive carry only emerges at 75% down, with estimated monthly cash flow of +$1,053.69 (2.03% cash-on-cash), and a full cash purchase at $799,000 produces estimated monthly cash flow of +$2,220.25 (3.24% cash-on-cash). The minimum recommended down payment for near-neutral carry on current rents is 50%; for clearly positive carry, 75% or more.
The investment case rests on three pillars: location (walk-to-GO downtown Burlington), land value (pool-sized private fenced lot, carport plus 4-car driveway, detached zoning), and renovation upside (separate basement entrance, dated interior, recent roof 2013, furnace 2020, AC 2015). Mechanical updates reduce near-term capex surprises, while the as-is estate-sale status may create negotiation room. This is not a cash-flow purchase at current rents and leverage; it is an appreciation and value-add hold where the renovation, potential suite addition, and downtown Burlington land thesis drive returns.
Hold period should be 60 months or longer to absorb renovation timelines and capture appreciation. Investors using high leverage should underwrite monthly carry contributions for several years, or budget the renovation capital required to lift rents materially above the current $3,700 estimate. Cash-heavy buyers and 1031-style portfolio rotators looking for a detached GTA land position are the most natural fit.
Key features
- Detached 3-bed, 1-bath bungalow, 1,100 sqft of one-level living
- Walking distance to Burlington GO Station, YMCA, library, shops and restaurants
- Separate entrance to basement, supports potential secondary-suite conversion
- Pool-sized private fenced yard with mature trees
- Carport plus driveway parking for 4 vehicles
- Roof 2013, Furnace 2020, Air Conditioner 2015, Water Heater owned
- Estate sale, sold as-is, potential negotiation leverage
Original MLS description
Welcome to 669 Drury Lane, a rare opportunity in the heart of downtown Burlington. Walk to parks, schools, the library, shops, restaurants, the GO Station & the YMCA. This 3 bedroom, one bath home offers easy one level living across 1,100 sq ft, perfect for first time buyers, renovators or investors looking to add value. Features include an eat in kitchen, bright & spacious living room with large picture window & a separate entrance to the basement. The home offers incredible potential in a highly sought after location. Enjoy a large pool sized private fenced yard with mature trees. Ample parking with a carport & driveway for 4 vehicles adds everyday convenience. A great opportunity at a great price to own a detached house in downtown Burlington. Roof (2013), Furnace(2020), Air Conditioner (2015), Water Heater (Owned). Property is sold as is (estate sale) (70583357)
Section · Neighborhood
Where it sits.
Burlington
Downtown Burlington is one of the most walkable nodes along the Lakeshore West GO corridor, with direct rail access to Union Station and quick connections to the QEW and 403. The immediate area combines mature residential streets with a dense downtown core of restaurants, shops, the Burlington Public Library, the Brant Street pier, and the central YMCA. Detached lots within walking distance of the GO Station are increasingly scarce, and the City of Burlington's intensification policies continue to favor downtown infill.
Demand drivers include commuter access to Toronto and Mississauga, the lakefront amenity base, and Burlington's consistent ranking among the most desirable mid-sized cities in the GTA. Tenant pools include young professionals commuting via GO, downsizers, and families seeking school catchments within walking distance.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: negative monthly cash flow at 20%, 35% and 50% down scenarios based on current rent estimates
Sold as-is (estate sale); buyer assumes condition risk and should budget for inspection-driven capex
Single bathroom and dated layout limit rent ceiling without renovation
Cap rate of 3.33% reflects an appreciation/value-add thesis, not a cash-flow asset
Secondary-suite potential is conceptual; conversion subject to City of Burlington zoning, permits and fire-code compliance
Rent estimate of $3,700 is based on widened comparables (21 comps); actual achievable rent may differ