Detached Dovercourt Village home with laneway garage and Garden Suite potential near Bloor subway
All-brick 3-bed, 2-bath detached home in Dovercourt Village with a 2-car laneway garage and documented Garden Suite conversion potential. Listed at $1,149,900, the play here is long-term appreciation and density upside, not in-place cash flow.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,149,900
Cap rate
+1.04%
Est. monthly rent
$2,800
Source: comparables_widened
CF at 100% cash
+$999/mo
+1.0% CoC
Hold period
60+ mo
planned
The Deal
All-brick 3-bed, 2-bath detached home in Dovercourt Village with a 2-car laneway garage and documented Garden Suite conversion potential.
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 | $402,465 |
| Mortgage principal | $747,435 |
| Land transfer tax | $17,249 |
| Closing costs | $17,249 |
| Total acquisition | $436,962 |
Monthly cash flow
| Estimated rent | +$2,800 |
| Operating expenses | -$1,801 |
| Mortgage payment | -$4,365 |
| Net cash flow | -$3,366/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $140/mo |
| Maintenance reserve | $958/mo |
| Insurance | $479/mo |
| Property management | $224/mo |
Math by deterministic Python calculator. Rate 4.99% over 25 years. Rent source: comparables_widened (63 comps).
Breakeven
This property turns cash-flow positive at 85.1% 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 ($17,249), and closing costs ($17,249).
Section · Investment Thesis
Why this property.
514 Concord Avenue is an all-brick detached 3-bedroom, 2-bathroom home in Dovercourt Village, a short walk to the Bloor-Danforth subway line and Bloorcourt's retail strip. The list price is $1,149,900. The investor case rests on two appreciation levers explicitly cited in the listing: laneway access with a 2-car detached garage that can be converted or rebuilt into a secondary dwelling under the City of Toronto's Garden Suite policies (a Laneway Housing Report is referenced as available), and the property's walkable proximity to the Bloor-Danforth subway. Estimated annual NOI is $11,983.50 against estimated gross annual rent of $33,600, producing an estimated cap rate of 1.04% and estimated gross yield of 2.92%.
Leverage sensitivity here is high, and every leveraged scenario produces negative carry on the existing single-family configuration. At 20% down ($229,980), the estimated monthly mortgage is $5,372.40 and estimated monthly cash flow is negative $4,373.78, a cash-on-cash return of -19.84%. At 35% down ($402,465), estimated monthly cash flow improves to negative $3,366.45 (-9.25% cash-on-cash). At 50% down ($574,950), estimated monthly cash flow is negative $2,359.13 (-4.65%). At 75% down ($862,425), the property still bleeds an estimated $680.25 per month (-0.91%). Only at a 100% cash purchase of $1,149,900 does the property turn positive, at an estimated $998.62 per month and 1.01% cash-on-cash.
The minimum recommended structure for neutral or positive carry on the as-is rental is therefore 100% cash. Investors using leverage should underwrite this as an appreciation and value-add story: the in-place rent of $2,800 per month (sourced from 63 widened comparables) does not service current mortgage math, but adding a Garden Suite over the existing laneway garage footprint could meaningfully change the income stack. Hold period should be measured in years, not months, to allow Garden Suite execution and Dovercourt land-value appreciation to compound.
Acquisition capital ranges from an estimated $264,477 at 20% down to $1,184,397 in an all-cash close, both inclusive of $17,248.50 land transfer tax and $17,248.50 closing costs. Investors should price in renovation capital for the secondary suite build on top of the purchase, and stress-test rents and rates before committing.
Key features
- All-brick detached 3-bed, 2-bath home in Dovercourt Village
- 2-car detached garage with prime laneway access
- Garden Suite / laneway housing conversion potential (Laneway Housing Report referenced as available)
- Short walk to Bloor-Danforth subway line
- Walker's Paradise location near Bloorcourt shops and Dovercourt Park
- Estimated monthly rent $2,800 based on 63 widened comparables
Original MLS description
Welcome to this 3 bedroom, 2 bathroom all-brick detached home, perfectly situated in the heart of one of Toronto's most coveted and soulful neighborhoods. Blending timeless character with the solid bones of a traditional build, this residence offers a rare opportunity to own a detached home in a community known for its leafy streets and artistic vibe. Prime Laneway Access Features a 2-car detached garage at the rear. With the city's current Garden Suite policies, explore the massive potential to convert or rebuild this into a secondary dwelling unit (Laneway Housing Report Available). Dovercourt Village is the perfect blend of quiet residential charm and urban convenience. 514 Concord is a short stroll to the Bloor-Danforth subway line, the vibrant shops of Bloorcourt, and some of the city's highest-rated schools and community centers. Boasting a Walker's Paradise score, you are steps away from the iconic Bakerbots Baking, Dark Horse Espresso, and the lush greenspace of Dovercourt Park. (42890432)
All photos
32 additional · click any to expand
Section · Neighborhood
Where it sits.
Dovercourt-Wallace Emerson-Junction
Dovercourt-Wallace Emerson-Junction, locally referred to as Dovercourt Village, is an established west-end Toronto pocket characterized by leafy residential streets and an active retail strip along Bloor. The home sits a short walk from the Bloor-Danforth subway line, anchoring it to a rapid transit corridor that connects to Yonge, Spadina, and the broader TTC network.
Walkability is a key demand driver: nearby amenities cited in the listing include Bakerbots Baking, Dark Horse Espresso, the Bloorcourt shopping district, Dovercourt Park, and highly rated schools and community centres. The neighbourhood's combination of detached housing stock, transit access, and laneway/Garden Suite eligibility has made it a target for owner-occupiers and density-focused investors.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Negative monthly cash flow in all leveraged scenarios (20%, 35%, 50%, and 75% down); only 100% cash produces positive carry
High leverage sensitivity: monthly cash flow swings from negative $4,373.78 at 20% down to positive $998.62 at 100% cash
Estimated cap rate of 1.04% is well below typical institutional underwriting thresholds for income property
Garden Suite / laneway conversion is a potential, not approved; requires permitting, design, and construction capital beyond purchase price
Rent estimate sourced from widened comparables (63 comps), which can be less precise than tight local comps
No recent sold comparables available to validate pricing
Sqft field shows 102, which appears to be a data entry artifact and should be verified before underwriting