Detached East York bungalow with separate-entrance basement suite in O'Connor-Parkview
A 3-bed detached bungalow with a self-contained 2-bed lower suite and separate entrance in East York's O'Connor-Parkview, listed at $1,049,000. The two-unit configuration offers rental optionality, though projected cash flow is negative under all financed scenarios at current rates.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,049,000
Cap rate
+1.29%
Est. monthly rent
$2,800
Source: comparables_widened
CF at 100% cash
+$1,125/mo
+1.3% CoC
Hold period
60+ mo
planned
The Deal
A 3-bed detached bungalow with a self-contained 2-bed lower suite and separate entrance in East York's O'Connor-Parkview, listed at $1,049,000.
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 | $367,150 |
| Mortgage principal | $681,850 |
| Land transfer tax | $15,735 |
| Closing costs | $15,735 |
| Total acquisition | $398,620 |
Monthly cash flow
| Estimated rent | +$2,800 |
| Operating expenses | -$1,675 |
| Mortgage payment | -$3,982 |
| Net cash flow | -$2,857/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $140/mo |
| Maintenance reserve | $874/mo |
| Insurance | $437/mo |
| Property management | $224/mo |
Math by deterministic Python calculator. Rate 4.99% over 25 years. Rent source: comparables_widened (63 comps).
Breakeven
This property turns cash-flow positive at 81.6% 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 ($15,735), and closing costs ($15,735).
Section · Investment Thesis
Why this property.
256 Ferris Road is a detached bungalow in East York's O'Connor-Parkview neighbourhood, listed at $1,049,000. The main floor offers three bedrooms and a full bath, while the lower level is a fully self-contained two-bedroom suite with its own kitchen, washroom, and separate entrance. The estimated monthly rent across both units is $2,800, producing gross annual rent of $33,600 and estimated annual NOI of $13,497, which translates to an estimated cap rate of 1.29% and gross yield of 3.20%. Note that the financials show $0 in monthly and annual property tax; this appears to be a data omission and is flagged in risk_flags, as actual tax expense will reduce NOI further.
Leverage sensitivity on this property is high and the carry is challenging at current rates. At 20% down ($209,800), the monthly mortgage payment is estimated at $4,900.99 and projected monthly cash flow is approximately -$3,776.24, a cash-on-cash return of -18.78%. At 35% down ($367,150), monthly cash flow improves to roughly -$2,857.31 (-8.60% cash-on-cash). At 50% down ($524,500), projected monthly cash flow is -$1,938.37 (-4.18%). At 75% down ($786,750), the property still bleeds an estimated -$406.81 per month (-0.60%). Only a full cash purchase of $1,049,000 produces positive carry, with projected monthly cash flow of +$1,124.75 and a 1.25% cash-on-cash return.
The minimum down payment for neutral or positive carry under these assumptions is 100% cash. No financed scenario reaches breakeven, so this asset is not a fit for cash-flow investors using conventional leverage. The investment case rests on land value and long-term appreciation in a tightly-held East York pocket, with the dual-unit layout helping owner-occupiers offset their own carry rather than generating standalone investor yield. Hold period should be 60+ months to allow rent growth, potential rate normalization, and land appreciation to do the work.
Suitable buyers are cash buyers, owner-occupiers seeking a mortgage helper, or long-horizon appreciation investors comfortable with negative carry. Investors relying on financing should model conservatively, confirm the true property tax bill, and stress-test against vacancy and rate movement before proceeding.
Key features
- Detached bungalow on a tightly-held East York street
- Self-contained lower-level suite with separate entrance, full kitchen, and private washroom
- Three bedrooms up, two bedrooms down (5 beds total), 3 bathrooms
- Dual-unit configuration suitable for owner-occupier with mortgage helper or full rental
- Minutes to TTC, Bloor-Danforth subway, and the DVP
- Walkable to Danforth shops, cafes, and restaurants
Original MLS description
Welcome to 256 Ferry's Road, an incredible detached bungalow nestled in one of East York's most sought-after, vibrant, and family-friendly communities. Whether you are a growing family looking for a home with a built-in mortgage helper, or a savvy investor seeking a high-yielding asset in a premium Toronto location, this property delivers on every single front. The main floor features a bright and spacious layout boasting three generous bedrooms with large windows that flood the space with natural light, a functional living and dining area, and a full family washroom. The completely self-contained lower level is a massive game-changer for anyone looking to maximize their investment. Featuring a dedicated separate entrance for complete privacy, the basement apartment offers two additional well-proportioned bedrooms, a full kitchen, and a private washroom. This setup offers massive potential income to significantly offset your mortgage or rent out both units for premium cash flow in Toronto's hot rental market. Situated in a commuter's dream location, you are just minutes away from the TTC, subway stations, the DVP, and downtown Toronto. Enjoy the perfect blend of quiet residential charm and effortless urban convenience, surrounded by top-tier schools, beautiful local parks, and the vibrant shops, cafes, and restaurants along the Danforth. Properties with this exact configuration and premium location rarely stay on the market long. Don't miss this incredible opportunity! (42906346)
All photos
19 additional · click any to expand
Section · Neighborhood
Where it sits.
O'Connor-Parkview
O'Connor-Parkview is an established East York neighbourhood bordered by the Danforth shopping corridor to the south and the Don Valley Parkway to the west, giving residents quick access to downtown Toronto by both transit and car. The area is served by TTC bus routes feeding the Bloor-Danforth subway line, with multiple stations within a short ride and the DVP providing direct vehicle access to the Gardiner and Highway 401.
The neighbourhood is characterized by detached and semi-detached housing on mature lots, local schools, parks, and walkable amenities along the Danforth. Demand drivers include proximity to downtown employment, family-oriented housing stock, and ongoing gentrification spilling east from Leslieville and Riverdale, supporting long-term land value in this pocket.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Negative projected monthly cash flow across all financed scenarios (20%, 35%, 50%, and 75% down)
Positive carry only achieved under a 100% cash purchase ($1,049,000), with projected cash-on-cash of just 1.25%
High leverage sensitivity: monthly cash flow swings from -$3,776.24 at 20% down to +$1,124.75 at 100% cash
Financial data shows $0 monthly and annual property tax, which appears to be a data omission; actual Toronto property tax will further reduce NOI and worsen all scenarios
Estimated cap rate of 1.29% is below GTA financing costs at the 4.99% mortgage rate used
Sqft figure in listing data (102) appears incorrect for a detached bungalow with two units and should be verified
Rent estimate sourced from widened comparables (63 comps); actual achievable rent for the dual-unit setup should be confirmed with current market leases
No recent sold comparables available to triangulate value