Woburn bungalow with separate side entrance and finished basement on 40 x 100 ft lot
Updated 3-bedroom Woburn bungalow with a separate side entrance to a finished basement, listed at $820,000. Estimated cash flow is negative under leveraged scenarios and turns positive only at 75% down or higher.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$820,000
Cap rate
+2.06%
Est. monthly rent
$2,800
Source: comparables_widened
Est. net spread
+$187K
6mo hold
Annualized ROI
+45%
preliminary
The Deal
Updated 3-bedroom Woburn bungalow with a separate side entrance to a finished basement, listed at $820,000.
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 | $287,000 |
| Mortgage principal | $533,000 |
| Land transfer tax | $12,300 |
| Closing costs | $12,300 |
| Total acquisition | $311,600 |
Monthly cash flow
| Estimated rent | +$2,800 |
| Operating expenses | -$1,389 |
| Mortgage payment | -$3,113 |
| Net cash flow | -$1,702/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $140/mo |
| Maintenance reserve | $683/mo |
| Insurance | $342/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 70.5% 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 ($12,300), and closing costs ($12,300).
Section · Investment Thesis
Why this property.
114 Rochman Blvd is a detached bungalow in Toronto's Woburn neighbourhood, listed at $820,000. The property offers over 1,700 sq ft of finished living space across the main floor and basement, sits on a 40 x 100 ft lot, and includes a finished basement with a separate side entrance, a 3-piece bathroom, and a rec room. Recent mechanical updates include a new furnace (2026), A/C (2025), and 200 AMP electrical service. Estimated gross annual rent is $33,600 with an estimated annual NOI of $16,932, producing an estimated cap rate of 2.06% and gross yield of 4.10% before any basement suite conversion.
Leverage sensitivity is high. At 20% down ($164,000), the estimated monthly mortgage payment is $3,831.09 and estimated monthly cash flow is -$2,420.09, with a cash-on-cash return of -15.40%. At 35% down ($287,000), estimated monthly cash flow improves to -$1,701.76 (-6.55% cash-on-cash). At 50% down ($410,000), estimated monthly cash flow is still -$983.43 (-2.72% cash-on-cash). The property approaches breakeven at 75% down ($615,000), where estimated monthly cash flow is +$213.78 and cash-on-cash is 0.40%. An all-cash purchase ($820,000) produces estimated monthly cash flow of +$1,411.00 and a 2.00% cash-on-cash return. The minimum recommended down payment for neutral or positive carry is 75%.
The investment case here is not current cash flow on a single-tenant rental. The thesis rests on the separate side entrance to the finished basement, which is a configuration commonly used for legal or non-legal secondary suite arrangements in Scarborough bungalows, subject to City of Toronto compliance. Investors underwriting this property should evaluate the cost and feasibility of legalizing a second unit, the incremental rent achievable from a two-unit configuration, and the impact on the cap rate. Without that upside, the property functions primarily as an end-user home or a long-hold land play on a 40 x 100 ft lot.
Recommended hold period is 60+ months given the negative carry under typical leverage and the dependence on either rate compression, rent growth, or a value-add path (basement suite) to reach acceptable returns. Buyers using less than 75% down should plan for material monthly contributions to service the property.
Key features
- 3-bedroom detached bungalow, over 1,700 sq ft of finished living space
- 1,100 sq ft on main floor plus finished basement
- 40 x 100 ft lot
- Finished basement with separate side entrance, 3-piece bath, and rec room with gas fireplace
- Renovated kitchen with stone countertops and gas stove
- Hardwood flooring throughout main floor and bedrooms
- New furnace (2026), A/C (2025), 200 AMP electrical service, sump pump
- Fully fenced and landscaped backyard with bedroom walkout
Original MLS description
Welcome to 114 Rochman Blvd, Toronto, A beautifully maintained and thoughtfully updated 3 bedroom bungalow offering over 1,700 sq ft (1100 on main flr) of finished living space on a mature 40 x 100 ft lot. The bright open concept living and dining area features hardwood flooring and a large updated picture window that fills the space with natural light. The renovated kitchen is designed for both everyday living and entertaining, complete with full-length stone countertops, a gas stove, two pantry spaces, and abundant storage. All three bedrooms feature hardwood flooring, with one offering a walkout to the private, fully fenced and landscaped backyard, perfect for enjoying you morning coffee! The finished basement with separate side entrance provides exceptional additional living space, including a spacious rec room with gas fireplace and custom built-ins, a 3-piece bathroom, and generous storage throughout. Major updates include a new furnace (2026), A/C (2025), 200 AMP electrical service, sump pump, and more. An excellent opportunity to own a move-in ready home in a desirable family-friendly neighbourhood close to parks, schools, transit, and everyday amenities. (42911968)
Section · Neighborhood
Where it sits.
Woburn
Woburn is a mature Scarborough neighbourhood in southeast Toronto, bounded roughly by Markham Road, Ellesmere, and Lawrence. The area is dominated by post-war detached bungalows on 40 to 50 foot lots, many of which have been converted or are candidates for conversion to two-unit dwellings under the City of Toronto's secondary suite framework. Demand drivers include proximity to Centennial College's Progress Campus, Scarborough Health Network's Centenary site, and TTC bus routes connecting to Scarborough Centre and the Line 3 corridor.
Transit access is bus-based today, with future improvements tied to the Scarborough Subway Extension (Line 2) currently under construction toward Sheppard. Highway 401 is accessible via Markham Road. The neighbourhood is family-oriented with established schools, parks, and retail along Markham Road and Lawrence Avenue East.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: estimated monthly cash flow is negative at 20%, 35%, and 50% down scenarios; only the 75% and 100% cash scenarios produce positive estimated monthly cash flow.
Estimated cap rate of 2.06% is below typical GTA investor targets without a value-add component.
Property tax field in the financials shows $0.00 annual; investors should independently verify the actual MPAC assessment and tax bill before underwriting.
Listed sqft of 65 in the data feed does not match the 1,700+ sq ft described in the listing remarks; buyer should verify floor area independently.
Secondary suite potential implied by the separate side entrance is not confirmed as legal; legalization requires City of Toronto permits, fire separation, and zoning compliance.
No recent sold comparables provided, limiting confidence in the estimated rent and resale benchmarks.