Detached estate sale in downtown Burlington, walk to GO Station, value-add opportunity
A 3-bed, 1-bath detached home on a pool-sized lot in Burlington's Brant neighbourhood, listed as an estate sale at $799,000. Positioned as a renovator or value-add play within walking distance of the Burlington GO Station, downtown shops, and the waterfront.
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
+$183K
6mo hold
Annualized ROI
+45%
preliminary
The Deal
A 3-bed, 1-bath detached home on a pool-sized lot in Burlington's Brant neighbourhood, listed as an estate sale at $799,000.
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 listed at $799,000 as an estate sale, sold "as is," offering a 1,100 sq ft detached home on a pool-sized lot in downtown Burlington. With estimated monthly rent of $3,700 and annual NOI of $26,643, the estimated cap rate is 3.33% and gross yield is 5.56%. The thesis here is value-add and land/location rather than in-place cash flow: the structural systems have been updated (Roof 2013, Furnace 2020, A/C 2015, owned water heater), but the property is priced to reflect that further renovation work is required, and a separate basement entrance opens the door to a future secondary suite for an investor willing to underwrite that capex.
Leverage sensitivity on this asset is high. At 20% down ($159,800), estimated monthly cash flow is -$1,512.73 with a -9.88% cash-on-cash return. At 35% down ($279,650), the carry improves to -$812.79 per month (-3.21%). At 50% down ($399,500), the property approaches breakeven at an estimated -$112.86 per month (-0.32%). Positive carry only appears at 75% down, where estimated monthly cash flow turns to +$1,053.69 (2.03% cash-on-cash), and at an all-cash purchase of $799,000, monthly cash flow is estimated at +$2,220.25 (3.24%). The minimum recommended down payment to reach near-neutral carry on the in-place rent assumption is 50%.
Because the in-place numbers do not support a leveraged cash-flow strategy at today's mortgage rate of 4.99% on a 25-year amortization, the buyer profile is either a renovator/end-user, a value-add investor planning a basement suite conversion to lift rent above the modeled $3,700, or a substantially-cash buyer prioritizing a downtown Burlington land position. Hold periods should be underwritten at 60 months or longer to absorb renovation timelines and to allow the location premium (GO Transit, downtown amenities, lake proximity) to compound.
Investors should treat the rent figure as a baseline drawn from widened comparables (21 comps), not an in-place lease, and should budget for the deferred maintenance implied by an as-is estate sale before modeling returns.
Key features
- 3 bedrooms, 1 bath, 1,100 sq ft on one level
- Detached home on pool-sized private fenced lot
- Separate entrance to basement (secondary suite potential)
- Carport plus driveway parking for 4 vehicles
- Updated systems: Roof 2013, Furnace 2020, A/C 2015, owned water heater
- Walk to Burlington GO Station, downtown shops, library, YMCA
- Estate sale, sold as-is
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" (estate sale) (42882462)
Section · Neighborhood
Where it sits.
Brant
The Brant neighbourhood is the core of downtown Burlington, with walkable access to parks, schools, the public library, shops, restaurants, the Burlington GO Station, and the YMCA per the listing. GO Transit connectivity along the Lakeshore West line provides a direct commuter link to downtown Toronto, anchoring rental demand from professionals seeking detached housing outside the city core.
Detached supply in walking distance of downtown Burlington is structurally limited, which supports long-term land value even when in-place rent does not service leveraged debt. The pool-sized lot adds optionality for future intensification subject to municipal zoning.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Estate sale sold as-is: budget for deferred maintenance and inspection findings before closing
High leverage sensitivity: negative monthly cash flow at 20%, 35%, and 50% down scenarios
Property does not reach positive carry until 75% down; suited to substantially cash or all-cash buyers
Listed sqft field in raw data (65) appears to be a data entry artifact; description states 1,100 sq ft
Rent estimate of $3,700 sourced from widened comparables (21 comps), not an in-place lease
Annual property tax shown as $0 in the financial inputs; verify actual municipal tax bill before underwriting
Value-add thesis (basement suite conversion) requires additional capex not modeled in the figures