Renovated Birchcliffe bungalow with tenanted lower-level suite and separate side entrance
Detached two-bedroom bungalow in Birchcliffe-Cliffside with a separate-entrance lower-level suite currently tenanted at $1,800/month. Turnkey east-end Toronto asset offered at $799,900 with vacant possession available if desired.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$799,900
Cap rate
+0.85%
Est. monthly rent
$1,800
Source: comparables_widened
Est. net spread
+$183K
6mo hold
Annualized ROI
+45%
preliminary
The Deal
Detached two-bedroom bungalow in Birchcliffe-Cliffside with a separate-entrance lower-level suite currently tenanted at $1,800/month.
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 | $279,965 |
| Mortgage principal | $519,935 |
| Land transfer tax | $11,999 |
| Closing costs | $11,999 |
| Total acquisition | $303,962 |
Monthly cash flow
| Estimated rent | +$1,800 |
| Operating expenses | -$1,234 |
| Mortgage payment | -$3,036 |
| Net cash flow | -$2,470/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $90/mo |
| Maintenance reserve | $667/mo |
| Insurance | $333/mo |
| Property management | $144/mo |
Math by deterministic Python calculator. Rate 4.99% over 25 years. Rent source: comparables_widened (67 comps).
Breakeven
This property turns cash-flow positive at 87.9% 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 ($11,999), and closing costs ($11,999).
Section · Investment Thesis
Why this property.
221 Clonmore Drive is a renovated detached bungalow in Birchcliffe-Cliffside listed at $799,900. The property includes a renovated main floor with two bedrooms and a separate side-entrance lower-level suite currently tenanted at $1,800 per month, which the listing flags as the income stream and notes the tenant is willing to stay. Estimated gross annual rent is $21,600 against estimated annual NOI of $6,793.50, producing an estimated cap rate of 0.85% and an estimated gross yield of 2.7% on the underwriting provided. These figures reflect only the existing tenanted basement; an end-user owner-occupier or an investor who later leases the main floor would change the income picture materially.
Leverage sensitivity on this asset is high because debt service overwhelms the single-suite rent. At 20% down ($159,980), estimated monthly mortgage payment is $3,737.18 and estimated monthly cash flow is -$3,171.06, a -20.68% cash-on-cash return. At 35% down ($279,965), estimated monthly cash flow is -$2,470.33 (-9.75% cash-on-cash). At 50% down ($399,950), estimated monthly cash flow is -$1,769.61 (-5.01%). At 75% down ($599,925), estimated monthly cash flow narrows to -$601.74 (-1.16%). Only at 100% cash ($799,900) does the underwriting turn positive, with estimated monthly cash flow of $566.12 and a 0.82% cash-on-cash return. No financed scenario reaches neutral carry on the current single-suite rent, so the minimum recommended down payment for positive carry is 100%.
The investment case here is not current yield, it is the combination of a renovated detached freehold on a large lot in an established east Toronto neighbourhood, with optionality to add main-floor rental income, owner-occupy, or hold long term for land value. The listing describes the property as turnkey with a renovated kitchen, stone countertops, separate side entrance and walk-out, and a private fenced backyard, close to TTC, subway, the Beach, and the Danforth/Kingston Rd/Queen St retail strips. Hold period should be framed at 60+ months given negative carry under all financed scenarios and reliance on appreciation and future rental upside rather than in-place yield.
This profile suits a cash buyer, an owner-occupier with a mortgage helper, or an experienced investor underwriting a future second-suite or main-floor rental strategy. It is not appropriate for a leveraged cash-flow investor at current rates against the existing $1,800 rent roll.
Key features
- Detached bungalow on a large lot with private driveway
- Renovated main floor with open-concept layout and stone-counter kitchen
- Two main-floor bedrooms with closets
- Lower-level suite with separate side entrance and walk-out
- Basement currently tenanted at $1,800/month, tenant willing to stay
- Vacant possession also available
- Private fenced backyard
- Close to TTC, subway, the Beach, and Danforth/Kingston Rd/Queen St
Original MLS description
Beautifully Renovated Bungalow Situated On A Large Lot With Private Driveway! This Charming Home Features A Bright Open-Concept Main Floor With Front Hall Closet, Stylish Renovated Kitchen Complete With Stone Countertops & Centre Island, Two Spacious Bedrooms With Closets.The Bright & Spacious Lower-Level Suite Offers A Separate Side Entrance And Walk-Out, Plus Access To A Large Laundry Area With Ample Storage. Basement Is Currently Tenanted And Generating $1,800 Per Month, With Tenant Willing To Stay - An Excellent Income Opportunity For Investors Or End Users. Vacant Possession Is Also Available. Enjoy A Large Private Fenced Backyard In A Fantastic Family-Friendly Neighbourhood And School District. Conveniently Located Close To Schools, Parks, Shopping, TTC, Subway, The Beach, And The Vibrant Shops & Restaurants Along Danforth, Kingston Rd & Queen St. A Turnkey Home With Excellent Income Potential In A Highly Desirable Location! (42911265)
Section · Neighborhood
Where it sits.
Birchcliffe-Cliffside
Birchcliffe-Cliffside is an established east Toronto neighbourhood north of the Scarborough Bluffs, characterized by detached postwar housing stock on generous lots and steady gentrification along the Kingston Road corridor. The listing notes proximity to TTC and subway service, the Beach, and the retail and restaurant strips along Danforth, Kingston Rd, and Queen St, all of which support owner-occupier demand and long-term land value.
The area continues to benefit from spillover demand from the Upper Beaches and the broader east-end as buyers price out of central Toronto, and from incremental transit and streetscape improvements along Kingston Road. Detached freehold supply on large lots remains the structural scarcity driver for this submarket.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: estimated monthly cash flow is negative in all financed scenarios (20% through 75% down) on the existing $1,800/month rent
Single income stream: underwriting reflects only the tenanted basement; main floor income is not in place
Estimated cap rate of 0.85% and gross yield of 2.7% are well below typical investor thresholds
Property tax shown as $0 in the financial inputs; buyers should verify actual municipal property tax before closing as this will further compress NOI
Reported square footage of 65 appears to be a data-feed error and should be verified
Tenanted unit: rent increases are governed by Ontario residential tenancy rules if existing tenant remains
Appreciation-dependent thesis; no recent sold comparables provided in this underwriting