3+1 bed Danforth townhouse steps to Donlands Subway with double laneway garage
A 3+1 bedroom, 3.5 bath Danforth home with separate lower-level entrances and a rare double detached laneway garage, listed at $1,150,000. Positioned for a long-hold appreciation play anchored by Line 2 subway access and meaningful renovation or suite-conversion upside.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,150,000
Cap rate
+1.45%
Est. monthly rent
$3,250
Source: comparables_widened
CF at 100% cash
+$1,390/mo
+1.4% CoC
Hold period
60+ mo
planned
The Deal
A 3+1 bedroom, 3.
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 | $402,500 |
| Mortgage principal | $747,500 |
| Land transfer tax | $17,250 |
| Closing costs | $17,250 |
| Total acquisition | $437,000 |
Monthly cash flow
| Estimated rent | +$3,250 |
| Operating expenses | -$1,860 |
| Mortgage payment | -$4,365 |
| Net cash flow | -$2,975/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $163/mo |
| Maintenance reserve | $958/mo |
| Insurance | $479/mo |
| Property management | $260/mo |
Math by deterministic Python calculator. Rate 4.99% over 25 years. Rent source: comparables_widened (27 comps).
Breakeven
This property turns cash-flow positive at 79.3% 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 ($17,250), and closing costs ($17,250).
Section · Investment Thesis
Why this property.
64 Donlands Avenue is a transit-anchored Danforth townhouse listed at $1,150,000 with estimated gross annual rent of $39,000, annual NOI of $16,680, and an estimated cap rate of 1.45%. The layout, 3+1 bedrooms, 3.5 baths, with separate entrances from the interior and the front of the house, supports a future secondary-suite conversion strategy, while the double detached laneway garage opens optionality for a laneway suite under City of Toronto laneway housing rules. This is an appreciation and value-add thesis, not a yield play.
Leverage sensitivity here is high and the property does not produce positive carry at conventional financing levels. At 20% down, estimated monthly cash flow is -$3,982.87 against a $5,372.87 monthly mortgage payment, a -18.07% cash-on-cash return. At 35% down, estimated monthly cash flow improves to -$2,975.46 (-8.17% cash-on-cash); at 50% down, -$1,968.04 (-3.87%); and at 75% down, -$289.02 (-0.39%), approaching breakeven. The property only reaches positive monthly cash flow at 100% cash, with estimated monthly cash flow of +$1,390.00 and a 1.41% cash-on-cash return. The minimum recommended down payment for neutral carry is therefore 75%, with true positive carry requiring all-cash.
The investment case rests on two appreciation catalysts disclosed in the listing. First, transit: the home is described as just steps to Donlands Subway Station on Line 2, a Bloor-Danforth corridor that has historically commanded a transit premium and that continues to benefit from the Ontario Line build-out reshaping east-end connectivity. Second, renovation and conversion potential: separate entrances, a finished lower level with bedroom, recreation room, 3-piece bath and dedicated laundry, and the double detached garage with laneway access on both sides give an investor multiple paths to add rentable area and lift NOI over time.
Given negative carry across all financed scenarios, this property suits a well-capitalized buyer with a 60+ month hold horizon who is underwriting Danforth land value, future rental reconfiguration, and laneway optionality rather than current yield. Sutton Group Admiral Realty can walk qualified investors through the renovation underwriting and financing structure.
Key features
- 3+1 bedrooms, 3.5 bathrooms
- Steps to Donlands Subway Station on Line 2
- Rare double detached garage accessed via laneway on both sides
- Separate entrances from interior and front of house to lower level
- Finished lower level with bedroom, recreation room, 3-piece bath and dedicated laundry
- Primary bedroom with walk-in closet and 4-piece ensuite
- Walk-out from kitchen to patio and garage
- Walking distance to Danforth shops, cafes, restaurants; close to DVP
Original MLS description
Welcome to this warm, well-maintained, and remarkably spacious 3+1 bedroom, 3.5 bathroom home, ideally located just steps from the vibrant Danforth and the subway station. Featuring a rare double detached garage accessed via laneway on both sides, this property offers exceptional convenience and versatility. A must-see opportunity! Offering more space than meets the eye, this property blends comfort, functionality, and incredible potential. The main level features a generous living and dining area, along with a bright breakfast nook and a spacious kitchen with a walk-out to the patio and garage. Upstairs, the second floor boasts a large primary bedroom complete with a walk-in closet and a 4-piece ensuite. Two additional well-sized bedrooms, a versatile den or office space, and a shared 3-piece bathroom provide ample room for families or work-from-home flexibility. With separate entrances from both the interior and the front of the house, the lower level offers excellent potential. It includes an additional bedroom, a large recreation room, a 3-piece bathroom, and a dedicated laundry area. This solid home presents endless possibilities for customization and investment. Unbeatable location, just steps to Donlands Subway Station, and within walking distance to trendy Danforth shops, cafés, and restaurants. Close to schools, parks, the DVP, and just minutes to the beach and downtown. (42893718)
All photos
33 additional · click any to expand
Section · Neighborhood
Where it sits.
Danforth
The Danforth corridor between Pape and Donlands is one of Toronto's most established transit-oriented neighborhoods, anchored by Line 2 (Bloor-Danforth) subway service at Donlands Station and a dense strip of independent shops, cafes, and restaurants along Danforth Avenue. The area draws a stable mix of family households and working professionals, supported by walkable access to schools and parks. Connectivity is further reinforced by quick access to the Don Valley Parkway and proximity to downtown and the eastern beaches, which historically supports both end-user demand and rental absorption in this pocket.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Negative monthly cash flow at 20%, 35%, 50%, and 75% down scenarios; only the 100% cash scenario produces positive carry at the estimated rent of $3,250/month.
High leverage sensitivity: monthly cash flow swings from -$3,982.87 at 20% down to +$1,390.00 at 100% cash.
Estimated cap rate of 1.45% is below typical investor screening thresholds; thesis depends on appreciation and value-add execution rather than in-place yield.
Property tax shown as $0 in the supplied financials may be a data gap; carrying costs could be higher than modeled and should be verified before offer.
Rent estimate of $3,250/month is drawn from widened comparables (27 comps) and should be re-underwritten against current Danforth rental listings.
Renovation, secondary suite, or laneway suite upside is subject to City of Toronto permitting, zoning, and construction cost risk.