Renovated raised bungalow in Mountainside with separate basement entrance on 50 x 175 ft lot
Solid brick 3+1 raised bungalow in Burlington's Mountainside with a separate basement entrance, second kitchen, and oversized basement windows on a 50 x 175 ft lot. The layout is configured for a secondary suite conversion, with the listing's $895,000 price targeting investors building NOI through legal two-unit income.
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
+$203K
6mo hold
Annualized ROI
+45%
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
$202,987 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.
This is a value-add play for an intermediate investor pursuing a legal two-unit conversion in Burlington. The seller's configuration, separate entrance to basement, second kitchen already in place, oversized basement windows for egress, and a basement bath rough-in, removes most of the cost-heavy steps in suite legalization. At the $895,000 list price the in-place estimated cap rate of 2.82% does not carry the thesis; the return comes from converting a single-family rent into stacked unit income once the lower level is permitted and tenanted.
Mountainside sits north of the QEW between Brant Street and Guelph Line, inside Burlington's intensification corridor. The City of Burlington's Official Plan designates the Brant Main Street and Uptown nodes for mid-rise growth, and the GO Transit Lakeshore West line at Burlington GO offers all-day two-way service into Union Station, a commute pattern that supports basement-suite tenant demand from hospital and downtown Burlington workers. Joseph Brant Hospital and the Burlington employment lands along Harvester Road and North Service Road anchor local rental absorption. The 50 ft x 175 ft lot is wider and deeper than typical infill in the area, preserving long-term optionality on the land itself within an established detached-home pocket.
Carry is negative through 50% down at an estimated -$513.18 per month, turning positive at 75% down with estimated +$793.53 monthly cash flow. The execution path is a 75% down or all-cash acquisition, six to twelve months to permit and tenant the lower unit, then a hold of 36 to 60 months while suite-legalized two-unit comparables reprice the asset. Refinance once stabilized NOI supports it.
Key features
- 3+1 bedrooms, 2 kitchens, 2 full baths
- Separate entrance to basement
- Oversized basement windows (egress potential)
- Basement full bath rough-in already present
- Solid brick raised bungalow, newly renovated
- 50 ft x 175 ft lot, parking for 6 cars
- Detached 2-car garage
- Exterior waterproofing completed
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. (42906181)
Section · Neighborhood
Where it sits.
Mountainside
Mountainside is an established detached-home neighborhood in north-central Burlington, bounded loosely by the QEW, Guelph Line, and Brant Street. It draws tenant demand from Joseph Brant Hospital staff, Halton District School Board employees, and commuters using Burlington GO on the Lakeshore West line for two-way service to Union Station.
The City of Burlington's intensification policy concentrates growth in the Uptown and Downtown Urban Centres, leaving Mountainside as a stable, lower-density pocket that benefits from spillover rental demand. The 50 ft x 175 ft lot exceeds the typical infill width in the area, which preserves optionality on land value separate from the building.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: negative monthly cash flow at 20%, 35%, and 50% down scenarios; positive carry only achieved at 75% down or all-cash
Estimated cap rate of 2.82% is below typical financing rates, meaning leveraged scenarios will not service themselves on current rent assumptions
Estimated monthly rent of $3,700 sourced from widened comparables; actual achievable rent may diverge
Secondary suite legalization requires City of Burlington permits, fire-code compliance, and HVAC separation; budget and timeline are not guaranteed
Common laundry area between units may reduce achievable rent versus fully separated suites
No recent sold comparables provided to validate ARV or stabilized value