Wexford-Maryvale bungalow with separate-entrance basement on 175 ft lot
Detached bungalow in Wexford-Maryvale with a finished basement, separate entrance, and second full bathroom on a 175 foot deep lot. The configuration supports a two-unit income conversion strategy aimed at lifting NOI above the current 0.34% cap rate.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,023,000
Cap rate
+0.34%
Est. monthly rent
$1,800
Source: comparables_widened
Est. net spread
+$235K
6mo hold
Annualized ROI
+46%
preliminary
Section · Why this passed our floor
What lifts the math here
Current cap
0.34% 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
$234,598 estimated over a 6-month hold using default market reno costs and the underwritten rent source.
Recommended leverage
100% down to reach neutral or positive carry during the conversion window.
Rent backed by
Estimate sourced from city-wide 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 | $358,050 |
| Mortgage principal | $664,950 |
| Land transfer tax | $15,345 |
| Closing costs | $15,345 |
| Total acquisition | $388,740 |
Monthly cash flow
| Estimated rent | +$1,800 |
| Operating expenses | -$1,513 |
| Mortgage payment | -$3,883 |
| Net cash flow | -$3,596/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $90/mo |
| Maintenance reserve | $853/mo |
| Insurance | $426/mo |
| Property management | $144/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=67).
Breakeven
This property turns cash-flow positive at 95.2% 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 ($15,345), and closing costs ($15,345).
Section · Investment Thesis
Why this property.
This listing suits a value-add investor pursuing a two-unit income conversion. The bungalow already carries a fully finished basement with separate entrance and a second full bathroom, which is the core infrastructure required to legalize a secondary suite. At a list price of $1,023,000 and an estimated cap rate of 0.34% on existing single-tenant rent assumptions, the in-place income does not support leverage; the thesis depends on stacking a second rent stream and resetting the rent roll over a 24 to 36 month execution window.
Wexford-Maryvale sits inside Scarborough's inner ring, bounded by Highway 401 to the south and Highway 404 and the Don Valley Parkway to the west, both cited in the listing. The submarket draws tenant demand from the Consumers Road employment node and from healthcare workers serving North York General and Sunnybrook via the 401/404 corridor. TTC bus routes on Lawrence Avenue East and Victoria Park Avenue feed Line 2 at Victoria Park and Warden stations. The 175 foot lot depth referenced in the listing also leaves room to evaluate a garden suite under Toronto's city-wide as-of-right framework, which is a separate path to a third income stream on the same parcel.
Execution requires capital. Even at 75% down, estimated monthly cash flow is -$1,206.35 on the as-is rent assumption, and only the all-cash scenario clears breakeven at +$287.25 per month. The recommended path is 75% down or higher while the investor completes secondary-suite legalization and re-tenants both units, then refinances against the stabilized rent roll. Hold period target is 36 to 60 months.
Key features
- Detached bungalow on a 175 foot deep lot
- Nearly 1,100 sq ft of renovated main-floor living space
- Fully finished basement with separate entrance
- Second full bathroom in the basement, supporting two-unit conversion
- Detached garage and interlocked patio
- Quiet crescent location with no rear neighbors
- Close to Highways 401 and 404 and TTC bus routes
Original MLS description
Beautiful Detached Bungalow on a 175' deep lot with no neighbors in the back. Upstairs features nearly 1100 sq ft of renovated living space. The basement is fully finished with separate entrance and a second full bathroom. Backyard Has An Interlocked Patio, Detached Garage and a Tree Fort. Centrally Located On A Quiet Crescent. Close To TTC, Shopping, Schools & Highways 401/404. (42899048)
All photos
27 additional · click any to expand
Section · Neighborhood
Where it sits.
Wexford-Maryvale
Wexford-Maryvale is an established Scarborough residential pocket bordered by Highway 401 to the south and the Don Valley Parkway/Highway 404 to the west. The neighborhood is dominated by mid-century bungalows on deep lots, which has made it a consistent target for two-unit conversions and garden suite additions under Toronto's as-of-right zoning framework. Tenant demand pulls from the Consumers Road business park, healthcare employment along the 401/404 corridor, and Centennial College's Progress campus to the east.
Transit access is bus-based rather than rapid transit: Lawrence Avenue East and Victoria Park Avenue routes connect to Line 2 at Victoria Park and Warden stations. The Eglinton Crosstown LRT, once in service to the south, will improve east-west connectivity for the broader Scarborough submarket but does not directly serve this catchment.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Estimated cap rate of 0.34% indicates rents do not support debt service at any financed scenario; only the 100% cash scenario produces positive monthly cash flow (+$287.25).
High leverage sensitivity: monthly cash flow ranges from -$4,492.27 at 20% down to +$287.25 all-cash. Investors using mortgage financing must fund negative carry from external capital.
Rent estimate of $1,800/month sourced from widened comparables rather than direct comps; actual achievable rent on a legalized two-unit basis could differ materially.
Secondary suite legalization carries permitting, fire-code, and timeline risk; the basement separate entrance and second bathroom are starting points, not guarantees of legal status.
No recent sold comparables were available to validate the list price against the local market.
Property is listed with 65 sqft as the recorded floor area in the data feed; this is inconsistent with the description of nearly 1,100 sq ft and should be verified before underwriting.