Renovated Malvern 3+2 Bungalow with Basement Suite, Deep 150 ft Lot Near UTSC and Hwy 401
Turnkey detached bungalow in Scarborough's Malvern with a 2-bedroom basement suite currently generating $2,200/month and proximity to Centennial College, UofT Scarborough, and Highway 401. Listed at $1,075,000 with estimated cap rate of 1.15%; the property requires substantial equity to approach breakeven on a carry basis.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,075,000
Cap rate
+1.15%
Est. monthly rent
$2,725
Source: comparables
Est. net spread
+$243K
6mo hold
Annualized ROI
+45%
preliminary
The Deal
Turnkey detached bungalow in Scarborough's Malvern with a 2-bedroom basement suite currently generating $2,200/month and proximity to Centennial College, UofT Scarborough, and Highway 401.
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 | $376,250 |
| Mortgage principal | $698,750 |
| Land transfer tax | $16,125 |
| Closing costs | $16,125 |
| Total acquisition | $408,500 |
Monthly cash flow
| Estimated rent | +$2,725 |
| Operating expenses | -$1,698 |
| Mortgage payment | -$4,081 |
| Net cash flow | -$3,054/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $136/mo |
| Maintenance reserve | $896/mo |
| Insurance | $448/mo |
| Property management | $218/mo |
Math by deterministic Python calculator. Rate 4.99% over 25 years. Rent source: comparables (6 comps).
Breakeven
This property turns cash-flow positive at 83.6% 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 ($16,125), and closing costs ($16,125).
Section · Investment Thesis
Why this property.
59 Dowswell Drive is a renovated 3+2 bedroom, 3.5 washroom detached bungalow in Malvern, Scarborough, listed at $1,075,000. The property includes a finished basement with two bedrooms, a separate kitchen, and upgraded bathrooms, currently generating $2,200/month in rental income per the listing. The estimated total monthly rent across the property is $2,725 (based on 6 comparables), producing an estimated gross annual rent of $32,700 and annual NOI of $12,324, an estimated cap rate of 1.15% and gross yield of 3.04%. Recent renovations include a new kitchen, laminate flooring with reinforced subfloor, new doors, windows, A/C return vents, and renovated bathrooms, limiting near-term capex.
Leverage sensitivity here is high. At 20% down ($215,000), the monthly mortgage is estimated at $5,022.47 and estimated monthly cash flow is -$3,995.47, a -19.39% cash-on-cash return. At 35% down, estimated monthly cash flow improves to -$3,053.75 (-8.97% cash-on-cash). The 50% down scenario still produces an estimated -$2,112.04 monthly carry (-4.45% cash-on-cash), and even at 75% down ($806,250), the property is estimated to bleed -$542.52/month (-0.78% cash-on-cash). Only an all-cash purchase at $1,075,000 produces positive estimated carry of +$1,027/month, equivalent to a 1.11% cash-on-cash return. The minimum recommended down payment for neutral or positive carry is therefore 100% cash; no leveraged scenario reaches breakeven at the 4.99% rate and 25-year amortization assumed.
The investment case is not cash flow on financed capital. It is a land-and-location thesis in a transit-served Scarborough node anchored by Centennial College, UofT Scarborough, Scarborough Town Centre, and Highway 401, with TTC, banking, pharmacy, and primary school within walking distance per the listing. The 150 ft deep fully fenced lot with extended driveway, two sheds, and existing basement suite provides optionality for future garden-suite or multiplex configurations under evolving City of Toronto zoning, though any such use would require independent verification and permitting.
Suitable buyer profiles are cash buyers, portfolio builders deploying substantial equity, and appreciation-oriented investors with a 60+ month hold horizon willing to accept near-breakeven carry at 75%+ down in exchange for Scarborough land exposure. Investors using high leverage should expect material monthly out-of-pocket contributions. All figures are estimates only; rents, expenses, and rates are subject to change.
Key features
- Detached bungalow, 3+2 bedrooms, 3.5 washrooms
- Renovated kitchen, bathrooms, flooring, windows, and doors
- Basement suite with 2 bedrooms, separate kitchen, currently rented at $2,200/month
- 150 ft deep fully fenced lot with 2 sheds and extended driveway
- Full external CCTV coverage
- Walking distance to TTC; close to Highway 401, UofT Scarborough, Centennial College, Scarborough Town Centre
Original MLS description
Gorgeous, spacious 3+2 bedrooms & 3.5 washrooms bungalow featuring an open concept living/dining area. Renovated kitchen with new cupboards, countertop, and stainless-steel appliances. New laminate flooring with reinforced subfloor, new doors, new windows, and added A/C return vents. Renovated bathrooms with new fixtures, flooring and wall tiles. Fully fenced150 ft deep lot with added walkways to 2 sheds - perfect for storage or workshop. Extended driveway to the backyard shed featuring double doors, extra interlock parking spot, inviting upgraded front porch. Full external CCTV coverage. Large basement with 2 bedrooms, kitchen, and potential for rental income (currently at $2,200). Basement also features laminate, newer windows, washer and dryer, upgraded bathrooms. Convenient location close to Centennial College, UofT Scarborough, Scarborough Town Centre, Cineplex, Highway 401, groceries and restaurants. Within walking distance of TTC, banking, pharmacy, and primary school. Look no further, just move in! (42893827)
All photos
18 additional · click any to expand
Section · Neighborhood
Where it sits.
Malvern
Malvern is an established residential pocket in northeast Scarborough with strong end-user demand driven by proximity to Centennial College, UofT Scarborough, and Scarborough Town Centre. The listing notes Highway 401, TTC service, groceries, and restaurants are nearby, with banking, pharmacy, and a primary school within walking distance. The student and immigrant tenant base in this corridor supports stable basement-suite demand, which is reflected in the existing $2,200/month basement tenancy.
Longer-term, Scarborough has been the focus of significant transit and post-secondary investment, and detached lots with 150 ft of depth are increasingly scarce in the GTA. This combination supports a land-value thesis, though investors should independently verify any future development or multiplex potential with the City of Toronto.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
No risks flagged by the QA agent.