Top-floor 2-bed at Warden & St. Clair, 7-minute walk to Warden Station and steps to Eglinton LRT
A 1,100+ sqft top-floor two-bedroom condo in Clairlea-Birchmount with two side-by-side underground parking spots, listed at $650,000. The thesis rests on the Eglinton Crosstown LRT opening and proximity to Warden Subway Station, not on near-term cash flow.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$650,000
Cap rate
+3.16%
Est. monthly rent
$2,900
Source: comparables_widened
CF at 100% cash
+$1,711/mo
+3.1% CoC
Hold period
60+ mo
planned
Section · Why this passed our floor
The catalysts behind this listing
Named catalysts
Three distinct named catalysts in the listing text: transit expansion, named infrastructure, supply constraint.
Transit expansion
The Eglinton Crosstown LRT, now in revenue service, adds a second rapid-transit corridor to the unit's catchment.
“the finally running Eglinton LRT offers even more commuting options”
Named infrastructure
Warden Subway Station on Line 2 sits a 7-minute walk away, providing direct downtown subway access.
“just a 7min walk Warden Subway station”
Supply constraint
The building backs onto the protected Warden Woods ravine, which limits competing low-rise supply on the east flank.
“backs on to beautiful Warden Woods ravine & trails”
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 | $227,500 |
| Mortgage principal | $422,500 |
| Land transfer tax | $9,750 |
| Closing costs | $9,750 |
| Total acquisition | $247,000 |
Monthly cash flow
| Estimated rent | +$2,900 |
| Operating expenses | -$1,190 |
| Mortgage payment | -$2,467 |
| Net cash flow | -$757/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $145/mo |
| Maintenance reserve | $542/mo |
| Insurance | $271/mo |
| Property management | $232/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=173).
Breakeven
This property turns cash-flow positive at 54.9% 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 ($9,750), and closing costs ($9,750).
Section · Investment Thesis
Why this property.
This unit suits an appreciation-oriented condo investor with capital depth, not a yield buyer. At the $650,000 list and an estimated 3.16% cap rate, none of the leveraged scenarios produce positive carry; the property only turns cash-flow positive between 50% and 75% down. The strategy is to ride the Eglinton Crosstown LRT activation and the Golden Mile redevelopment cycle while owning a scarce 1,100+ sqft, two-parking, top-floor floorplate that distinguishes the unit from new pre-construction supply nearby.
The location anchors two named transit assets. Warden Subway Station on Line 2 sits a 7-minute walk away, and the Eglinton LRT, which the listing notes is "finally running," adds a second rapid-transit corridor to the east-west grid. The Golden Mile cluster along Eglinton is the City of Toronto's most active mid-rise intensification corridor, and this unit backs onto Warden Woods ravine and trails, a protected natural-heritage buffer that limits competing low-rise supply on the east flank. Upcoming building improvements, including a lobby renovation and new roof, are noted as covered by existing reserve funds, which reduces near-term special-assessment exposure.
Execution favors the 75% down scenario, where estimated monthly cash flow turns positive at roughly $761 and cash-on-cash sits near 1.80%. At 100% cash, estimated monthly cash flow is approximately $1,710. Hold period is 60+ months to capture Eglinton LRT ridership stabilization and Golden Mile build-out. Refinance optionality opens once rents reset against the wider Crosstown catchment.
Key features
- Over 1,100 sqft top-floor unit with east-facing views
- Split 2-bedroom, 2-full-bathroom layout
- Two side-by-side underground parking spots
- Ensuite laundry room with extra storage
- Updated kitchen with quartz counters and stainless appliances
- 7-minute walk to Warden Subway Station (Line 2)
- Proximity to operating Eglinton LRT
- Backs onto Warden Woods ravine and trails
- Upcoming lobby renovation, new roof, and common-area updates funded by existing reserves
Original MLS description
Top floor living with east facing views in a tranquil setting! With over 1100sqft this unit offers a smart split 2 bedroom layout, 2 full bathrooms, 2 yes 2 underground side by side parking spots!, a spacious & private balcony, and a rare ensuite laundry room/extra storage. The updated functional kitchen features quartz counters, SS appliances (fridge '25) as well as a bar height peninsula great for quick meals on the go. The building offers tons of surface Visitor parking for guests and backs on to beautiful Warden Woods ravine & trails. This peaceful escape from the chaos of the city is also super connected as it's just a 7min walk Warden Subway station! Nearby Golden Mile offers all the shopping and restaurants you could wish for and the finally running Eglinton LRT offers even more commuting options. The last top floor unit we listed in this condo sold in just 4 days...come see for yourself why this building is such a gem. ***Upcoming Condo improvements include a lobby renovation, new roof and updates to some common areas, all covered by existing funds. (42904467)
All photos
41 additional · click any to expand
Section · Neighborhood
Where it sits.
Clairlea-Birchmount
Clairlea-Birchmount sits at the intersection of Line 2 (Warden Station) and the Eglinton Crosstown LRT, which the listing confirms is now operating. The Golden Mile corridor along Eglinton Avenue East is undergoing one of the largest mid-rise intensification programs in the City of Toronto, layering retail, residential, and employment density onto a corridor previously dominated by surface-parking plazas.
The unit backs directly onto Warden Woods ravine, a protected natural-heritage corridor that constrains additional low-rise supply on the east side of the building and provides a long-term amenity differentiator versus pre-construction stock further west.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Negative cash flow at 20%, 35%, and 50% down scenarios; only 75% down and 100% cash produce positive carry
High leverage sensitivity: monthly cash flow swings from -$1,326 at 20% down to +$1,710 at 100% cash
Estimated cap rate of 3.16% is below typical financing rates, so the thesis depends on appreciation rather than income
Rent estimate sourced from widened comparables, which carries higher variance than direct in-building comps
Condo fees and future special assessments beyond the disclosed reserve-funded items are not quantified in the listing
Eglinton LRT ridership and Golden Mile build-out timelines are policy- and construction-dependent