Original-condition Clarkson detached on Sheridan Creek, steps to Clarkson GO, listed at $789,000
A largely original 3-bed, 2.5-bath detached home in Mississauga's Clarkson neighbourhood, backing onto Sheridan Creek and steps from Clarkson GO Station. Priced at $789,000 with a finished basement plumbed for an in-law suite, this is a value-add play rather than a turnkey cash-flow asset.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$789,000
Cap rate
+2.20%
Est. monthly rent
$2,800
Source: comparables
Est. net spread
+$178K
6mo hold
Annualized ROI
+45%
preliminary
Section · Why this passed our floor
What lifts the math here
Current cap
2.20% 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
$178,342 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 neighborhood 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 | $276,150 |
| Mortgage principal | $512,850 |
| Land transfer tax | $11,835 |
| Closing costs | $11,835 |
| Total acquisition | $299,820 |
Monthly cash flow
| Estimated rent | +$2,800 |
| Operating expenses | -$1,350 |
| Mortgage payment | -$2,995 |
| Net cash flow | -$1,545/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $140/mo |
| Maintenance reserve | $658/mo |
| Insurance | $329/mo |
| Property management | $224/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=5).
Breakeven
This property turns cash-flow positive at 68.5% 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 ($11,835), and closing costs ($11,835).
Section · Investment Thesis
Why this property.
This 1947 Bonnymede Drive listing is a value-add detached home in Clarkson, owned by the same family since 1986 and largely original. The list price is $789,000 with estimated monthly rent of $2,800 in as-is condition, producing an estimated cap rate of 2.2% and estimated annual NOI of $17,397. The thesis here is renovation-driven equity creation and long-term appreciation in a Clarkson GO node, not in-place cash flow.
Leverage sensitivity is high. At 20% down ($157,800), the estimated monthly mortgage is $3,686.26 and estimated monthly cash flow is -$2,236.51, with cash-on-cash of -14.79%. At 35% down ($276,150), estimated monthly cash flow is -$1,545.33 (cash-on-cash -6.19%). At 50% down ($394,500), estimated monthly cash flow remains negative at -$854.16 (cash-on-cash -2.45%). The property only crosses into positive carry at 75% down ($591,750), with estimated monthly cash flow of +$297.80 and cash-on-cash of 0.58%. An all-cash purchase ($789,000) produces estimated monthly cash flow of +$1,449.75 and cash-on-cash of 2.14%. Minimum recommended down payment for neutral or positive carry is therefore 75%.
The investor case rests on three levers identified in the listing: a fully finished basement with existing plumbing positioned for in-law or secondary suite development, an original-condition main house priced for cosmetic and systems renovation, and a Sheridan Creek backdrop combined with walking distance to Clarkson GO. Mechanical risk is partially mitigated by a furnace and central A/C installed in 2021 and attic insulation updated in 2023. A post-renovation rent reset, particularly if the basement is legally suited, is the realistic path to improved yield; the figures above reflect as-is rent only.
Hold-period implications point to 60+ months. Given negative carry at conventional leverage and modest yield even at full cash, investors should underwrite this as a renovation and long-term hold backed by Clarkson's transit and lakefront demand drivers, not as a day-one income property. Listed by Sutton Group Admiral Realty.
Key features
- Detached home, 3 bed (originally 4), 2.5 bath in Clarkson
- Backs directly onto Sheridan Creek
- Steps to Clarkson GO Station on the Lakeshore West line
- Fully finished basement with existing plumbing for in-law suite potential
- Furnace and central A/C installed in 2021
- Attic insulation fully updated in 2023
- Upper levels freshly painted; basement remains original
- Walking distance to Clarkson Community Centre, schools, parks, and shopping
- Close to Lake Ontario, Jack Darling Memorial Park, and Rattray Marsh Conservation Area
Original MLS description
Well-maintained & full of opportunity, this solid home offers a rare chance to get into thedesirable Clarkson area at an accessible entry point for buyers, investors, or those ready to add value over time. Owned by the same family since 1986, the property remains largely original, presenting a clean slate with incredible upside. Recently painted throughout the upper levels, it offers a fresh, neutral palette ready for your finishing touches. Originally designed as a 4-bedroom home, it is currently configured as 3 bedrooms but could easily be converted back to suit growing families or those needing additional space. Offering 2.5 bathrooms, the layout is functional & well-proportioned, with plenty of room to modernize to your taste. The fully finished basement presents excellent potential for additional living space or in-law capability, with existing plumbing already in place to support future development. Backing directly onto Sheridan Creek, the setting provides added privacy & a natural backdrop rarely found at this price point. Key mechanical updates include a furnace & central air conditioning system installed in 2021, along with fully updated attic insulation completed in 2023, improving comfort & efficiency. Upper levels have been freshly painted, while the basement remains original, offering further opportunity. Ideally located just steps from Clarkson GO Station and close to Lake Ontario, Jack Darling Memorial Park, and Rattray Marsh Conservation Area, the home also offers convenient access to the Clarkson Community Centre, schools, parks, public pool facilities, and shopping within walking distance. A true value-add property in a highly sought-after location-ideal for buyers willing to put in some work & capitalize on long-term upside. (42889846)
Section · Neighborhood
Where it sits.
Clarkson
Clarkson is an established south Mississauga neighbourhood anchored by Clarkson GO Station, which provides direct Lakeshore West service to Union Station. The subject property is described as steps from the GO station and within walking distance of the Clarkson Community Centre, schools, parks, public pool facilities, and shopping.
The immediate setting backs onto Sheridan Creek, with proximity to Lake Ontario, Jack Darling Memorial Park, and Rattray Marsh Conservation Area. This combination of transit access and lakefront green space underpins long-term demand from end-user families and supports the appreciation thesis on renovated stock.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: estimated monthly cash flow is negative at 20%, 35%, and 50% down scenarios
Property crosses to positive carry only at 75% down or higher based on the supplied figures
Largely original condition; renovation capital required beyond purchase price is not reflected in the financial scenarios
Estimated cap rate of 2.2% reflects as-is rent of $2,800/month; yield depends on executing the value-add plan
Sqft figure in the data feed (102) appears to be a data error and should be verified before underwriting
Property tax shown as $0 in the supplied financials should be independently verified; actual tax will reduce NOI
Rent estimate sourced from 5 comparables, not in-place lease