All-inclusive 1+Den at Tridel's Bonis gated community; positive carry from 50% down
A 1+Den unit in a Tridel-built gated community in Tam O'Shanter-Sullivan, listed at $398,000 with maintenance fees covering heat, hydro, water, A/C, parking, and Bell Fibe. Estimated cap rate is 4.53% on $2,300 projected monthly rent, with positive monthly cash flow starting at the 50% down scenario.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$398,000
Cap rate
+4.53%
Est. monthly rent
$2,300
Source: comparables_widened
CF at 50% down
+$341/mo
first positive
Cash-on-cash
+1.94%
at 50% down
Section · Why this passed our floor
Where the income story is solid
Cap rate
4.53% — at or above our 4.0% cash-flow tier floor.
Breakeven leverage
50% down to clear neutral monthly carry. Below that the property runs negative; above it the carry compounds.
Rent backed by
Estimate sourced from city-wide comparables.
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.
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 | $139,300 |
| Mortgage principal | $258,700 |
| Land transfer tax | $5,970 |
| Closing costs | $5,970 |
| Total acquisition | $151,240 |
Monthly cash flow
| Estimated rent | +$2,300 |
| Operating expenses | -$797 |
| Mortgage payment | -$1,511 |
| Net cash flow | -$7/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $115/mo |
| Maintenance reserve | $332/mo |
| Insurance | $166/mo |
| Property management | $184/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=261).
Breakeven
This property turns cash-flow positive at 35.3% 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 ($5,970), and closing costs ($5,970).
Section · Investment Thesis
Why this property.
This listing suits a cash-flow oriented investor or portfolio builder willing to put meaningful equity in for predictable carry. The mechanic is straightforward: a $398,000 entry price against an estimated $2,300 monthly rent produces an estimated cap rate of 4.53% and a gross yield of 6.93%. Because maintenance fees cover heat, hydro, water, A/C, parking, and Bell Fibe TV and internet, operating expense volatility is compressed relative to typical condo underwriting, which is the core reason the spread holds at moderate leverage.
The submarket is Tam O'Shanter-Sullivan in Scarborough, a mid-density pocket north of Highway 401 between Kennedy and Warden. The listing references access to TTC, GO Transit, and Highway 401, with retail anchors including No Frills, Highland Farms, and Walmart within walking distance. The Tridel-built gated community at 138 Bonis carries 24-hour gatehouse security and amenity depth (indoor pool, gym, squash courts) that supports rental demand from downsizers and professionals. Tenant pools draw from Agincourt Mall redevelopment activity to the east and Centennial College's Progress Campus corridor, both of which anchor steady end-user demand in this M1T postal pocket.
The recommended entry is the 50% down scenario, where estimated monthly cash flow turns positive at $341.32 with a 1.94% cash-on-cash return. At 35% down the unit is essentially breakeven at an estimated -$7.33 per month, useful for investors prioritizing leverage over carry. Hold period is 60+ months; the execution path is income-first with optional refinance once rates normalize, treating any appreciation from the surrounding Sheppard corridor as secondary upside.
Key features
- 1+Den layout with over 900 sq ft of interior space
- Tridel-built gated community with 24-hour gatehouse security
- All-inclusive maintenance: heat, hydro, water, A/C, parking, Bell Fibe TV and internet
- Indoor pool, gym, squash courts, party room on site
- Move-in ready: freshly painted, new light fixtures, updated hardware
- Walk-in closet in primary bedroom, private balcony with golf course view
- Steps to No Frills, Highland Farms, Walmart, library
- TTC, GO Transit, and Highway 401 access
Original MLS description
GET MORE FOR YOUR MONEY WITH ALL-INCLUSIVE LIVING. Bright, sun-filled and rarely offered 1+Denwith over 900 sq ft in a quality Tridel-built, gated community with 24-hr gatehouse security -ideal for first-time buyers, downsizers, or investors. Freshly painted with new light fixtures and updated hardware, this move-in ready unit offers a spacious open-concept layout with large windows, a generous primary bedroom with walk-in closet, and a versatile den perfect for a home office or guest space. Enjoy peaceful views with a golf course right in your backyard ,plus your own private balcony. Maintenance fees cover heat, hydro, water, A/C, parking, plus Bell Fibe TV & internet - a truly all-inclusive setup that is increasingly rare and no longer commonly offered in newer buildings. Residents enjoy access to full-service amenities, including indoor pool, gym, party room, squash courts, and more - all within a secure, well-managed community. Convenient location steps to No Frills, Highland Farms, Walmart, library, and everyday essentials. Easy access to TTC, GO Transit, and Hwy 401. Rare size. All-inclusive living. Gated community. Move-in ready. Exceptional value. (42884986)
All photos
44 additional · click any to expand
Section · Neighborhood
Where it sits.
Tam O'Shanter-Sullivan
Tam O'Shanter-Sullivan sits in north-central Scarborough between Kennedy and Warden, immediately north of Highway 401. The pocket is anchored by the Tam O'Shanter Golf Course, Agincourt Mall, and a dense band of grocery and big-box retail along Birchmount and Kennedy. The listing notes walkable access to No Frills, Highland Farms, Walmart, and the local library.
Transit options referenced include TTC bus routes feeding Line 4 (Sheppard) and Agincourt GO Station on the Stouffville line, plus Highway 401 ramps at Kennedy and Warden. Rental demand here is supported by Centennial College's Progress Campus to the east and the Consumers Road employment node to the southwest.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: estimated monthly cash flow is negative at both 20% down (-$355.98) and 35% down (-$7.33); positive carry requires 50% down or more.
Maintenance fees are described as all-inclusive but condo fee escalations are a structural risk in older Tridel buildings; verify reserve fund study and fee history before closing.
Rent estimate of $2,300 is sourced from widened comparables rather than direct unit-level comps; underwrite a 10% rent variance.
Square footage stated as 83 in MLS metadata conflicts with the listing description of over 900 sq ft; verify floor plan and registered area before offer.
Condo segment in Scarborough has elevated resale inventory; exit liquidity at the next refinance window may compress.