Detached Markland Wood bungalow with side-entrance lower level, listed at $1,099,000
A move-in ready mid-century detached in Etobicoke's Markland Wood with a separate side entrance and full lower level offering in-law suite potential. Single-unit rent economics are weak at current pricing; the play here is end-user appeal plus long-hold land value, not leveraged cash flow.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,099,000
Cap rate
+1.16%
Est. monthly rent
$2,800
Source: comparables_widened
Est. net spread
+$250K
6mo hold
Annualized ROI
+45%
preliminary
The Deal
A move-in ready mid-century detached in Etobicoke's Markland Wood with a separate side entrance and full lower level offering in-law suite potential.
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 | $384,650 |
| Mortgage principal | $714,350 |
| Land transfer tax | $16,485 |
| Closing costs | $16,485 |
| Total acquisition | $417,620 |
Monthly cash flow
| Estimated rent | +$2,800 |
| Operating expenses | -$1,738 |
| Mortgage payment | -$4,172 |
| Net cash flow | -$3,110/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $140/mo |
| Maintenance reserve | $916/mo |
| Insurance | $458/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 83.4% 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 ($16,485), and closing costs ($16,485).
Section · Investment Thesis
Why this property.
49 Stevenharris Drive is a detached 3-bed, 2-bath home listed at $1,099,000 in Markland Wood, a mature, tree-lined Etobicoke pocket near Pearson Airport, the 427 and the QEW. The listing describes over 1,230 sq. ft. of living space on each level, hardwood floors, a renovated main bath, and a lower level with a separate side entrance, 3-piece bath and bedroom/office, which the seller frames as in-law suite potential. For investors, that side entrance is the most relevant physical feature because it preserves an optional path to a secondary unit.
On a single-tenancy basis the underwriting is tight. Estimated monthly market rent is $2,800 (sourced from 63 widened comparables), producing gross annual rent of $33,600 and estimated annual NOI of $12,747, which translates to an estimated cap rate of 1.16% and a gross yield of 3.06%. Leverage sensitivity is high. At 20% down the estimated monthly cash flow is -$4,072.34 with a cash-on-cash return of -19.33%; at 35% down it improves to -$3,109.61 (-8.94%); at 50% down, -$2,146.87 (-4.42%); at 75% down, -$542.31 (-0.76%); and only at a 100% cash purchase does the property turn positive at an estimated +$1,062.25 per month and a 1.13% cash-on-cash return. Minimum recommended down payment for non-negative carry is 100%.
Total acquisition cost ranges from $252,770 at 20% down to $1,131,970 on an all-cash basis, inclusive of estimated $16,485 land transfer tax and $16,485 closing costs. Mortgage figures use a 4.99% rate over 25-year amortization. Given that even a 75% down structure still bleeds an estimated $542.31 per month, this property does not pencil as a leveraged rental. The investor case rests on three levers: (1) detached land value in a stable, owner-occupied Etobicoke neighborhood, (2) the optionality to add a legal secondary suite using the existing side entrance and lower-level bath to lift gross rent, and (3) end-user resale demand from young families and empty nesters, which the listing explicitly targets.
Hold period should be viewed as 60+ months. Suitable buyers are cash buyers, appreciation-oriented investors prepared to subsidize carry, or house-hackers who will occupy one level and rent the other. Leveraged buy-and-hold investors looking for day-one positive cash flow should pass.
Key features
- Detached home on a mature landscaped lot with fully fenced west-facing backyard
- Over 1,230 sq. ft. of living space on each level per listing
- Separate side entrance to lower level with 3-piece bath and bedroom/office, supporting in-law suite conversion
- Three bedrooms on main level plus additional bedroom/office down
- Single-car garage plus driveway parking for three additional vehicles
- Close to 427, QEW, Pearson Airport and Etobicoke schools
Original MLS description
This super solid bright happy mid-century home offers over 1,230 sq. ft. of living space on each level with a highly functional layout, generous principal rooms, high ceilings, hardwood floors, plus exceptional storage throughout. Set on a beautifully landscaped mature lot with a fully fenced west-facing backyard ready for BBQ season, this move-in ready home is filled with natural light, warmth and timeless character.The main floor features quality plaster walls, crown moulding, large picture windows and spacious living and dining areas perfect for both everyday living and entertaining. The family-sized kitchen offers abundant cabinetry and ample storage. Three well-proportioned bedrooms (including two king-sized), a renovated family bathroom, plus linen and coat closets complete the main level.The spacious lower level features a separate side entrance, high ceilings, a large rec room, 3-piece bath, bedroom/office, spacious flex spaces for gym/ office/ games, laundry and utility room and outstanding storage - ideal for growing families, guests, work-from-home needs, or future in-law suite possibilities. A large single car garage plus driveway for additional 3 vehicles.Located on Stevenharris - a welcoming, family-friendly tree-lined street in sought-after Etobicoke - close to excellent schools, parks, transit, major highways and Pearson Airport. A fantastic opportunity for young families, empty nesters and buyers looking to move in, enjoy! (42910298)
Section · Neighborhood
Where it sits.
Markland Wood
Markland Wood is an established, low-turnover Etobicoke neighborhood on Toronto's western edge, bordered by Etobicoke Creek and Markland Wood Golf Club. The area is dominated by mid-century detached homes on mature lots and draws steady end-user demand from families seeking detached product within Toronto city limits. The listing cites proximity to schools, parks, transit, major highways and Pearson Airport; access to the 427, QEW and Highway 401 makes the location relevant for airport-corridor employment and west-GTA commuting. Public transit relies primarily on TTC bus service connecting to Kipling Station on Line 2, rather than direct rapid transit, which is a consideration for tenant demand at this price point.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Highly leverage-sensitive: every financed scenario (20%, 35%, 50%, 75% down) produces negative estimated monthly cash flow
Property only reaches positive estimated cash flow at a 100% cash purchase, and even then cash-on-cash is just 1.13%
Estimated cap rate of 1.16% is well below typical investor underwriting thresholds for the GTA
Annual property tax in the supplied financials is $0, which appears understated for a $1.099M Toronto detached home; verify actual tax bill before closing as it will further pressure cash flow
Rent estimate of $2,800 was derived from widened comparables (63 comps), suggesting limited direct comparables and potential variance in achievable rent
Secondary-suite upside depends on zoning compliance, permits and capital expenditure not reflected in current underwriting
No recent sold comparables available to validate list price