Renovated raised bungalow on 50x175 lot in Burlington Mountainside with basement in-law potential
A newly renovated 3+1 brick raised bungalow on a 50 ft x 175 ft lot in Burlington's Mountainside, featuring a separate basement entrance, two kitchens, and a detached 2-car garage. Estimated cap rate is 2.82% with negative carry under leveraged scenarios, reaching positive monthly cash flow at 75% down or higher.
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
The Deal
A newly renovated 3+1 brick raised bungalow on a 50 ft x 175 ft lot in Burlington's Mountainside, featuring a separate basement entrance, two kitchens, and a detached 2-car garage.
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.
1216 Fisher Avenue is listed at $895,000 and presents as a value-add and long-hold land play in Burlington's Mountainside neighborhood. The property is a solid brick raised bungalow with 3+1 bedrooms, two kitchens, and two full baths on a 50 ft x 175 ft lot. The separate basement entrance, oversized basement windows, second kitchen, and rough-in for a third bath in the basement suggest secondary-suite optionality, subject to municipal approvals. Exterior waterproofing and a detached 2-car garage with parking for six cars further support tenant appeal and long-term carrying.
On a leverage-agnostic basis, projected gross annual rent is $44,400 with estimated annual NOI of $25,203, producing an estimated cap rate of 2.82% and gross yield of 4.96%. These metrics are typical of low-density Burlington detached product where pricing reflects land value and end-user demand rather than in-place yield. Investors underwriting this asset should expect appreciation and future redevelopment or suite-income optionality to do the heavy lifting, not current cash flow.
Leverage sensitivity is high. At 20% down ($179,000), the monthly mortgage is estimated at $4,181.49 and projected monthly cash flow is -$2,081.24, a cash-on-cash return of -12.13%. At 35% down, projected monthly cash flow improves to -$1,297.21 (-4.58% cash-on-cash). At 50% down, projected monthly cash flow is -$513.18 (-1.30%). The property does not approach positive carry until 75% down, where projected monthly cash flow turns to +$793.53 (1.36% cash-on-cash). On an all-cash purchase, projected monthly cash flow is +$2,100.25 with a 2.73% cash-on-cash return. The minimum recommended down payment for positive monthly carry is therefore 75%.
Given the negative carry across typical leverage points, this property suits investors with a 60+ month hold, substantial equity, and a thesis built around the secondary-suite conversion, lot size, and Burlington Mountainside appreciation rather than immediate yield. Buyers requiring monthly cash flow at conventional leverage should price in monthly support, or pursue legal duplex conversion to materially shift the rent assumption underwritten here.
Key features
- Solid brick raised bungalow, newly renovated
- 3+1 bedrooms, 2 kitchens, 2 full baths
- Separate entrance to basement with oversized windows
- Full bath rough-in in basement (suite potential, subject to approvals)
- Large 50 ft x 175 ft lot
- Detached 2-car garage, parking for 6 cars
- 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. (42906181)
Section · Neighborhood
Where it sits.
Mountainside
Mountainside is an established, mature residential pocket in north Burlington, characterized by post-war bungalows on deep lots, proximity to the QEW and Highway 403, and access to Aldershot and Burlington GO stations for commuters into Hamilton and Toronto. The area has seen incremental infill and renovation activity, with deep lots like the subject's 50 ft x 175 ft parcel supporting garden suite or accessory dwelling exploration under evolving Ontario and municipal frameworks.
Demand drivers include Burlington's consistent ranking among Ontario's higher-income mid-size cities, proximity to McMaster University and Mohawk College in Hamilton, and the broader GTHA westward migration corridor. Tenant demand in Mountainside trends toward families and professionals seeking detached product at price points below central Burlington.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: projected monthly cash flow is negative at 20%, 35%, and 50% down scenarios
Property does not reach positive projected monthly carry until 75% down
Estimated cap rate of 2.82% is below typical investor yield thresholds; thesis depends on appreciation and suite conversion
Secondary suite legalization requires municipal approvals; rough-in and separate entrance do not constitute a legal duplex
Rent estimate sourced from widened comparables (21 comps); single-family detached rent in Mountainside can vary materially
No recent sold comparables provided to validate list price