Milliken 6-level backsplit freehold townhouse, 0.8 km to GO station, 4+1 beds
Freehold backsplit townhouse in Milliken priced at $699,000 with an estimated 4.32% cap rate and $3,895 monthly rent estimate. Cash flow reaches positive territory at 50% down and grows materially with lower leverage.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$699,000
Cap rate
+4.32%
Est. monthly rent
$3,895
Source: comparables_widened
CF at 50% down
+$474/mo
first positive
Cash-on-cash
+1.53%
at 50% down
Section · Why this passed our floor
Where the income story is solid
Cap rate
4.32% — 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 | $244,650 |
| Mortgage principal | $454,350 |
| Land transfer tax | $10,485 |
| Closing costs | $10,485 |
| Total acquisition | $265,620 |
Monthly cash flow
| Estimated rent | +$3,895 |
| Operating expenses | -$1,380 |
| Mortgage payment | -$2,653 |
| Net cash flow | -$139/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $195/mo |
| Maintenance reserve | $583/mo |
| Insurance | $291/mo |
| Property management | $312/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=6).
Breakeven
This property turns cash-flow positive at 38.4% 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 ($10,485), and closing costs ($10,485).
Section · Investment Thesis
Why this property.
Target buyer is a portfolio builder or cash-heavy investor who wants a freehold townhouse near Pacific Mall and a GO station rather than a condo. The strategy is hold-for-income with a measured leverage profile: at the $699,000 list and an estimated 4.32% cap rate, the asset clears operating expenses but does not absorb a high-leverage mortgage. Positive monthly carry begins at the 50% down scenario, where estimated cash flow is $473.79 per month, so this is a capital-forward play rather than a maximum-leverage acquisition.
The Milliken submarket is anchored by Pacific Mall, the largest Asian indoor mall in North America, and by Milliken GO Station on the Stouffville line, which connects to Union Station. The listing places the property 1.1 km from Pacific Mall and 0.8 km from the GO station, putting it inside the standard commuter walk-shed. The corridor sits within the City of Toronto's Scarborough northern edge near the Markham border, with established demand from end users tied to retail, professional services, and the Stouffville GO line's continuing service upgrades feeding downtown commute volumes.
Execution: at 50% down, estimated monthly cash flow is $473.79 with a cash-on-cash of 1.53%; at 75% down it climbs to $1,494.35. Recommended posture is 50% down or higher, held 60+ months while Stouffville line frequency and Pacific Mall area density continue to mature. Twenty-percent leverage produces an estimated monthly shortfall of $750.87 and is not the intended entry point for this asset.
Key features
- Freehold townhouse, no condo fees
- 6-level backsplit layout with 4+1 bedrooms and 3 bathrooms
- Oversized private driveway
- 0.8 km to Milliken GO Station on the Stouffville line
- 1.1 km to Pacific Mall
- Above-grade family room with walk-out to backyard
- Private master bedroom level with 3-piece ensuite
- Sub-basement recreation room plus two dens
Original MLS description
Backsplit 6- level total freehold townhouse, Direct distance 1.1 km to Pacific Mall, 0.8km to Go Station. Oversized private driveway, 4+1 Bedrooms, 3 washrooms, excellent location, and incredible future potential. Features a spacious open-concept kitchen with ample room for family gatherings and entertaining. The above-grade family room offers direct walk-out access to the backyard, filling the space with natural light and seamless indoor-outdoor living. The private master bedroom occupies its own level and includes an 3pc ensuite bathroom, creating a comfortable retreat. 3 additional bedrooms are bright, spacious, and filled with sunshine on the upper level. sub-basement features a large size recreation room and two additional den can be used for library office or study room. (42892176)
Section · Neighborhood
Where it sits.
Milliken
Milliken sits at Toronto's northeastern boundary with Markham, anchored by Pacific Mall and the surrounding Steeles/Kennedy retail cluster. The Milliken GO Station on the Stouffville line provides a direct commuter link to Union Station, and the corridor draws steady end-user demand from families tied to the area's retail and service economy.
Freehold townhouse stock in this pocket trades at a discount to detached product but retains land ownership, which differentiates it from the condo townhouse supply further south. Demand drivers include the GO line, proximity to Highway 404 and 407, and the established retail base at Pacific Mall.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: at 20% down, estimated monthly cash flow is -$750.87 and cash-on-cash is -5.60%
At 35% down, estimated monthly carry is still negative at -$138.54
Rent estimate is sourced from widened comparables rather than direct comps; actual achievable rent may vary
No recent sold comparables were available to validate pricing
Backsplit layout with multiple levels may limit tenant pool versus a conventional two-story plan
Capital-intensive entry: recommended 50% down equates to roughly $349,500 of equity