Renovated raised bungalow on 50x175 lot with separate basement entrance, Mountainside Burlington
Solid brick 3+1 raised bungalow with two kitchens, two full baths, and a separate basement entrance on a 50 by 175 foot lot. The configuration supports a secondary-suite conversion play to lift NOI over a multi-year hold.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$895,000
Cap rate
+2.82%
Est. monthly rent
$3,700
Source: comparables_widened
Est. net spread
+$151K
6mo hold
Annualized ROI
+32%
preliminary
Section · Why this passed our floor
What lifts the math here
Current cap
2.82% 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
$151,137 estimated over a 6-month hold using default market reno costs and the underwritten rent source.
Recommended leverage
75% 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 | $313,250 |
| Mortgage principal | $581,750 |
| Land transfer tax | $13,425 |
| Closing costs | $13,425 |
| Total acquisition | $340,100 |
Monthly cash flow
| Estimated rent | +$3,700 |
| Operating expenses | -$1,600 |
| Mortgage payment | -$3,397 |
| Net cash flow | -$1,297/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $185/mo |
| Maintenance reserve | $746/mo |
| Insurance | $373/mo |
| Property management | $296/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=21).
Breakeven
This property turns cash-flow positive at 59.8% 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 ($13,425), and closing costs ($13,425).
Section · Investment Thesis
Why this property.
The fit here is a value-add investor targeting a legal secondary-suite conversion. The bones are already in place: 3+1 bedrooms, two kitchens, two full baths, a separate entrance to the basement, oversized basement windows, and a full bath rough-in below grade. At the $895,000 list price the in-place cap rate is 2.82% on a single-tenancy assumption, which is the floor; the thesis is to convert the lower level into a legal second unit and re-underwrite the NOI rather than buy for current yield.
The submarket is Mountainside in central Burlington, south of Highway 403 and a short drive to the Burlington GO station on the Lakeshore West line, which connects to Union Station. Burlington's Official Plan and Major Transit Station Area policies have been pushing intensification around the GO corridor, and the city permits additional residential units in detached dwellings under Ontario's Bill 23 framework, which is the regulatory basis for the duplex path. The 50 by 175 foot lot, detached two-car garage, and parking for six cars give a future garden-suite or accessory-unit optionality that smaller Burlington lots do not offer.
Execution requires meaningful equity. At 20% down the estimated monthly cash flow is -$2,081.24; the property does not approach positive carry until 75% down, where estimated monthly cash flow is +$793.53. The recommended path is 50% or higher down, complete the legal second-unit registration in the first 12 months, then re-tenant both units and refinance on the lifted NOI. Hold window is 36 to 60 months through the suite stabilization and Burlington intensification cycle.
Key features
- 3+1 bedrooms, 2 kitchens, 2 full baths
- Separate entrance to basement with oversized windows
- Full bath rough-in already in basement
- 50 ft x 175 ft lot
- Detached 2-car garage plus parking for 6 cars
- Solid brick raised bungalow, newly renovated
- Exterior waterproofing completed
- Flexible closing
Original MLS description
Builder's original model home. Newly renovated, solid brick raised bungalow. 3+1 bedrooms, 2 kitchens, 2 full baths. Separate dining room. Separate entrance to basement. Oversized basement windows. Common laundry area. Lots of storage. Well insulated. Full bath rough in basement Large 50 ft x 175 ft lot. Parking for 6 cars. Detached 2 car garage. Exterior water proofing. Floor plans in supplements and photos. Flexible closing. RSA (70596542)
Section · Neighborhood
Where it sits.
Burlington
Mountainside is an established central Burlington pocket south of Highway 403, anchored by mature streets, the Central Park and Mountainside Recreation Centre corridor, and proximity to the Burlington GO station on Metrolinx's Lakeshore West line. The submarket has been a beneficiary of Burlington's Major Transit Station Area intensification policy, which encourages additional residential units in low-rise neighbourhoods within a defined radius of GO infrastructure.
Demand drivers include commuter access to downtown Toronto via GO, Hamilton-bound employment via the QEW, and McMaster and Mohawk College catchment overflow into Burlington's more affordable single-family stock. Larger lots in this pocket support garden-suite and duplex conversion strategies that the newer subdivisions further north cannot accommodate.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Negative cash flow at 20%, 35%, and 50% down scenarios; estimated -$2,081.24 monthly at 20% down
High leverage sensitivity: property does not reach positive monthly cash flow until 75% down
Cap rate of 2.82% is below GTA financing cost; thesis depends on executing the secondary-suite legalization
Secondary-suite legalization requires municipal permits, fire-code compliance, and likely additional capital not modeled in the base figures
Rent estimate sourced from widened comparables, which carries more variance than tight local comps
No recent sold comparables provided, increasing valuation uncertainty