Renovated detached 2-storey in High Park North with laneway-access 2-car garage
Fully renovated 3-bed detached home in High Park North priced at $1,599,000, walking distance to TTC subway, Bloor West Village, and High Park. The numbers point to an end-user or long-hold appreciation play, not a cash-flow rental.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,599,000
Cap rate
+0.33%
Est. monthly rent
$2,800
Source: comparables_widened
CF at 100% cash
+$437/mo
+0.3% CoC
Hold period
60+ mo
planned
The Deal
Fully renovated 3-bed detached home in High Park North priced at $1,599,000, walking distance to TTC subway, Bloor West Village, and High Park.
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 | $559,650 |
| Mortgage principal | $1,039,350 |
| Land transfer tax | $23,985 |
| Closing costs | $23,985 |
| Total acquisition | $607,620 |
Monthly cash flow
| Estimated rent | +$2,800 |
| Operating expenses | -$2,363 |
| Mortgage payment | -$6,070 |
| Net cash flow | -$5,633/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $140/mo |
| Maintenance reserve | $1,333/mo |
| Insurance | $666/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 95.3% 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 ($23,985), and closing costs ($23,985).
Section · Investment Thesis
Why this property.
This is a renovated detached 2-storey in one of Toronto's most established west-end pockets, listed at $1,599,000. The property has been updated with new floors, trim, doors, a renovated upstairs bathroom, and an open-concept main floor, with three bedrooms, two bathrooms, a finished lower level, and a detached 2-car garage with laneway access. For an investor, the appeal is the land, the location within the Annette St. JR & SR catchment, and the laneway-access garage that opens optionality on future laneway suite potential, rather than near-term rental yield.
The rental math is challenging at this price point. Estimated monthly rent of $2,800 against monthly operating expenses of $2,362.75 produces an annual NOI of $5,247 and an estimated cap rate of 0.33%, with a gross yield of 2.10%. Leverage sensitivity here is high and uniformly negative across financed scenarios. At 20% down ($319,800), the monthly mortgage is $7,470.62 and estimated monthly cash flow is -$7,033.37 (cash-on-cash -22.95%). At 35% down, estimated monthly cash flow is -$5,632.63 (-11.12%). At 50% down, it is -$4,231.89 (-5.99%). Even at 75% down ($1,199,250), estimated monthly cash flow is still -$1,897.32 (-1.83%). The property only reaches positive carry as a 100% cash purchase, where estimated monthly cash flow is +$437.25 and cash-on-cash is 0.32%.
The minimum recommended down payment for neutral or positive monthly carry is therefore 100% cash. Any financed scenario will require monthly out-of-pocket support from the owner, and the buyer profile that makes sense here is either an end-user owner-occupant, a cash buyer treating the home as a long-duration land and location hold, or an investor underwriting a future laneway suite or rebuild to lift the income side of the equation. Hold period implications skew long: with a near-zero current cap rate, returns depend on west-end Toronto appreciation and on unlocking additional density, not on operating income.
Buyers should underwrite this property on land value, neighborhood fundamentals, and renovation quality, with rental income treated as a partial offset to carrying costs rather than a return driver. All figures are estimates and not guarantees.
Key features
- Detached 2-storey, 3 bed / 2 bath
- Fully renovated: new floors, trim, doors, upstairs bathroom
- Open-concept main floor with original fireplace
- Chef's kitchen with expansive counter and storage
- Large mudroom
- Finished lower level for flexible use
- Private fenced backyard
- Detached 2-car garage with laneway access
- Walking distance to TTC subway, Bloor West Village, High Park
- Annette St. JR & SR public school catchment
Original MLS description
Beautifully renovated detached 2-storey home on a quiet, wide street in Toronto's sought-after west end. Thoughtfully updated throughout with all new floors, trim, doors, a renovated upstairs bathroom, and a redesigned open-concept main floor that balances modern function with timeless character. The main living area is anchored by a charming original fireplace and filled with natural light. The chef's kitchen offers expansive counter space, exceptional storage, and seamless flow for every day living and entertaining. A large mudroom adds valuable practicality and organization rarely found in homes of this era. Upstairs features 3 well-proportioned bedrooms and a fully renovated bathroom with clean, timeless finishes. The finished lower level adds additional flexible living space, while the private fenced backyard creates an ideal outdoor retreat. Detached 2 car garage with laneway access provides rare convenience. Located close to TTC subway access, Bloor West Village, High Park, parks, and daily amenities. Situated within desirable Annette St. JR & SR public school catchment. A thoughtfully reimagined home that blends character, warmth, and modern ease. (42911933)
Section · Neighborhood
Where it sits.
High Park North
High Park North sits between High Park, Bloor West Village, and the Junction, with TTC subway access along Bloor Street providing a direct ride into downtown Toronto. The pocket is anchored by mature tree-lined streets, Annette St. JR & SR public school catchment, and proximity to High Park, Toronto's largest downtown green space.
Demand drivers include established end-user families competing for detached inventory, walkability to Bloor West Village retail, and limited new detached supply given the area's heritage character. The laneway access on this lot is structurally relevant in a city that has expanded laneway and garden suite policy, though any future development would require its own feasibility review.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Negative monthly cash flow in all financed scenarios (20%, 35%, 50%, and 75% down); only 100% cash reaches positive carry at an estimated +$437.25/month
High leverage sensitivity: monthly cash flow swings from -$7,033.37 at 20% down to +$437.25 at 100% cash
Estimated cap rate of 0.33% and gross yield of 2.10% indicate a land/appreciation play rather than an income property
Rent estimate of $2,800/month sourced from widened comparables (63 comps); actual achievable rent may differ
Property tax shown as $0 in the dataset, which appears incomplete; buyer should verify actual municipal tax assessment, as inclusion will further reduce cash flow
Annette St. JR & SR catchment claim should be independently verified with TDSB prior to purchase
Returns depend on Toronto west-end appreciation and potential future density (e.g., laneway suite), neither of which is guaranteed