Estate-sale detached on Drury Lane, walking distance to Burlington GO and downtown core
A 1,100 sq ft three-bedroom detached estate sale listed at $799,000 in downtown Burlington, walkable to the GO Station, library, and YMCA. Sold as-is with a separate basement entrance, offering a condition-driven resale play with optional suite conversion for a longer hold.
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
Section · Why this passed our floor
What lifts the math here
Current cap
3.33% 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
$130,767 estimated over a 6-month hold using default market reno costs and the underwritten rent source.
Recommended leverage
75% 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 | $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 |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=21).
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.
This listing suits a fix-and-flip operator or value-add investor with renovation capacity and access to deeper equity. The property is an estate sale priced at $799,000 on a pool-sized lot in downtown Burlington, with a separate entrance to the basement that opens a secondary-suite path on a longer hold. Operating economics are thin at current rents; the estimated cap rate is 3.33% and gross yield 5.56%, so the thesis is the resale spread after renovation rather than in-place income.
Downtown Burlington has tightened around the Burlington GO corridor, which feeds the Lakeshore West line into Union Station, and the listing language confirms walkability to the GO Station, the YMCA, the library, parks, and Brant Street retail. The submarket has absorbed steady mid-rise intensification along Brant and Lakeshore, and detached inventory inside the downtown grid is structurally limited. A 1,100 sq ft detached with a 4-car carport-and-driveway configuration and mature-tree lot is the type of land position that holds value through cycles. Renovation comps in the downtown core support a meaningful ARV lift once the kitchen, bath, and mechanicals are addressed; the roof (2013), furnace (2020), and AC (2015) reduce capital-item surprises.
Carry is negative until very low leverage: estimated monthly cash flow is $-812.79 at 35% down and $-112.86 at 50% down, reaching positive territory at 75% down ($1,053.69) and 100% cash ($2,220.25). For a fix-and-flip exit, target a 6 to 12 month hold with a renovated resale. For a buy-hold investor, plan on 50% or more down to approach breakeven, then legalize the basement suite to lift NOI over a 24 to 36 month window.
Key features
- 1,100 sq ft detached, 3 bed / 1 bath, single-level layout
- Estate sale, sold as-is, condition-driven entry price
- Separate entrance to the basement (secondary-suite path)
- Pool-sized private fenced yard with mature trees
- Carport plus driveway parking for 4 vehicles
- Roof (2013), Furnace (2020), AC (2015), owned water heater
- Walking distance to Burlington GO Station, YMCA, library, Brant Street retail
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 has matured into a transit-anchored urban node centred on the Burlington GO Station on the Lakeshore West line and the Brant Street retail spine. The subject is walkable to parks, schools, the public library, the YMCA, and the GO Station, placing it inside the most liquid resale pocket in the city for detached product.
Detached supply inside the downtown grid is finite, and mid-rise intensification along Brant and Lakeshore continues to pull demand toward walkable, lower-density side streets like Drury Lane. The configuration here, a 1,100 sq ft bungalow on a pool-sized fenced lot with a 4-car carport and driveway, fits the end-user profile that drives downtown Burlington pricing.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Property is sold as-is (estate sale); buyer assumes condition risk and should budget for full inspection and likely renovation.
High leverage sensitivity: monthly cash flow is negative at 20%, 35%, and 50% down and only turns positive at 75% down or above.
Cap rate of 3.33% is below typical cash-flow thresholds; thesis depends on renovation spread or appreciation, not in-place income.
No recent sold comparables were available to benchmark ARV; reno-budget and resale assumptions must be validated locally.
Single-bath, 1,100 sq ft footprint limits rental upside unless the basement is legalized as a secondary suite.
Estimated rent is sourced from widened comparables and may not reflect achievable rent for the as-is condition.