Renovated raised bungalow on 50x175 lot in Burlington with separate basement entrance
Solid brick 3+1 bedroom raised bungalow in Burlington with two kitchens, two full baths, and a separate basement entrance on an oversized 50 ft by 175 ft lot. Positioned as a value-add hold where the basement layout supports a secondary suite conversion, though carry costs are negative under leveraged scenarios.
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
The Deal
Solid brick 3+1 bedroom raised bungalow in Burlington with two kitchens, two full baths, and a separate basement entrance on an oversized 50 ft by 175 ft lot.
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 |
Math by deterministic Python calculator. Rate 4.99% over 25 years. Rent source: comparables_widened (21 comps).
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.
This Burlington raised bungalow at 1216 Fisher Avenue is listed at $895,000 and presents as a renovated, solid brick home with 3+1 bedrooms, two kitchens, two full baths, a separate entrance to the basement, oversized basement windows, and a rough-in for a third full bath downstairs. The 50 ft by 175 ft lot, detached two-car garage, and parking for six cars provide optionality for owner-occupiers, multi-generational buyers, or investors pursuing a legal secondary suite. Estimated gross annual rent is $44,400 with annual NOI of $25,203, producing an estimated cap rate of 2.82% and an estimated gross yield of 4.96%.
Leverage sensitivity on this property is high. At 20% down ($179,000), the estimated monthly mortgage is $4,181.49 and projected monthly cash flow is -$2,081.24, a cash-on-cash return of -12.13%. At 35% down ($313,250), monthly cash flow improves to -$1,297.21 (-4.58% cash-on-cash). At 50% down ($447,500), the property still runs an estimated -$513.18 per month (-1.30% cash-on-cash). The investment does not reach positive carry until 75% down ($671,250), where projected monthly cash flow turns to +$793.53 (1.36% cash-on-cash). An all-cash purchase of $895,000 produces an estimated +$2,100.25 monthly cash flow and a 2.73% cash-on-cash return.
The minimum recommended down payment for neutral or positive monthly carry is 75%. This profile suits buyers with substantial cash who view the property primarily as a land and improvement play, with secondary suite potential through the existing separate entrance and basement bath rough-in. The hold period should be measured in years rather than quarters; appreciation in Burlington's established west-end residential pocket, combined with execution on a legal second unit, is the path to total return rather than current yield.
Investors should weigh the negative carry at conventional leverage against the lot size and the renovated condition of the structure. The data shows annual property tax recorded as $0.00 in the supplied figures, which is unusual for a Burlington detached home and should be verified during due diligence; if the actual tax bill is materially higher, all cash flow estimates above will deteriorate further.
Key features
- Solid brick raised bungalow, builder's original model home
- Newly renovated; 3+1 bedrooms, 2 kitchens, 2 full baths
- Separate entrance to basement with oversized windows and full bath rough-in
- 50 ft by 175 ft lot, detached 2-car garage, parking for 6 cars
- Exterior waterproofing completed
- 1,139 sqft above grade with finished lower level
- 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
Burlington's Fisher Avenue corridor sits in an established residential pocket of the city, with proximity to Highway 403, the QEW, and Burlington GO Station supporting commuter demand toward Hamilton, Oakville, and downtown Toronto. The area is characterized by mid-century detached homes on generous lots, with ongoing renovation activity supporting comparable values.
Demand drivers include Burlington's school catchments, the broader Halton Region employment base, and continued migration from higher-priced GTA submarkets. Larger lots in this part of Burlington are increasingly scarce, which underpins the land component of the investment thesis.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: property runs negative monthly cash flow at 20%, 35%, and 50% down scenarios; positive carry only at 75% down or higher
Annual property tax shown as $0.00 in supplied figures; verify actual municipal tax bill during due diligence as this will materially impact cash flow
Estimated cap rate of 2.82% is below typical investor thresholds; returns depend heavily on appreciation and potential secondary suite income
Secondary suite potential implied by separate entrance and basement bath rough-in but not confirmed as legal; zoning and permitting verification required
Rent estimate derived from widened comparables (21 comps); actual achievable rent may vary