Lisgar 4-bed detached with separate-entrance basement; value-add suite conversion path
Four-bedroom detached in Mississauga's Lisgar neighbourhood with a separate-entrance unfinished basement and rough-in bath, structured for a secondary suite conversion. Estimated 1.15% cap rate at list price means the thesis is NOI lift through a legal basement unit, not in-place income.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,379,900
Cap rate
+1.15%
Est. monthly rent
$3,500
Source: comparables_widened
Est. net spread
+$309K
6mo hold
Annualized ROI
+44%
preliminary
Section · Why this passed our floor
What lifts the math here
Current cap
1.15% on the existing single-unit rent. The thesis is the income uplift after the conversion is complete, not today's number.
Projected post-conversion spread
$309,227 estimated over a 6-month hold using default market reno costs and the underwritten rent source.
Recommended leverage
100% down to reach neutral or positive carry during the conversion window.
Rent backed by
Estimate sourced from city-wide comparables, not a CMHC fallback.
Every property published on 6Yield clears a multi-stage screen — universal financial floor, per-tier quality gate, and an editorial review on listing evidence. These bullets summarize the specific facts that cleared this property’s tier. Estimates only; not financial advice.
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 | $482,965 |
| Mortgage principal | $896,935 |
| Land transfer tax | $20,699 |
| Closing costs | $20,699 |
| Total acquisition | $524,362 |
Monthly cash flow
| Estimated rent | +$3,500 |
| Operating expenses | -$2,180 |
| Mortgage payment | -$5,238 |
| Net cash flow | -$3,918/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $175/mo |
| Maintenance reserve | $1,150/mo |
| Insurance | $575/mo |
| Property management | $280/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=18).
Breakeven
This property turns cash-flow positive at 83.6% 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 ($20,699), and closing costs ($20,699).
Section · Investment Thesis
Why this property.
This listing suits a value-add investor with renovation capacity and a multi-year horizon. The thesis is income conversion: the unfinished basement carries a separate entrance and a rough-in bathroom, which is the standard precondition for a legal secondary suite in Mississauga. At the $1,379,900 list price the in-place cap rate is an estimated 1.15%, so the strategy is not buy-and-hold-for-income at acquisition; returns come from finishing the lower level, adding a rentable unit, and re-underwriting NOI on a two-unit basis over a 24 to 48 month hold.
Lisgar sits in west Mississauga between Winston Churchill Boulevard and the Halton border, anchored by the Lisgar GO station on the Milton line and bracketed by Highway 401 and Highway 407 for commuter access into the Mississauga and Oakville employment corridors. The submarket draws established family-formation demand into the four-bedroom detached segment, and the secondary suite rental pool is supported by Sheridan College's Trafalgar campus and the Meadowvale Business Park nodes to the east. Mississauga's Additional Residential Unit framework permits second units in detached homes citywide subject to permits, which is what makes the separate-entrance configuration here monetizable rather than decorative.
Execution requires meaningful equity. Even at 75% down the estimated monthly cash flow is negative $694.56, and only the 100% cash scenario clears at an estimated $1,320.12 per month with a 1.11% cash-on-cash return. The recommended structure is 75% down or all-cash during the conversion window, with a refinance once the basement suite is legalized and stabilized to capture the NOI lift. Target hold is 36 to 60 months through permit, build-out, lease-up, and reappraisal.
Key features
- 4 bedrooms, 3 bathrooms, detached
- Separate entrance to unfinished basement
- Basement rough-in for bathroom
- Hardwood on main level, laminate upstairs
- Gas fireplace in family room
- 5-piece ensuite on upper level
- Second upstairs family room (flex space)
- Open-concept kitchen over family room
Original MLS description
welcome to this exceptional 4 bedroom family home in one of Mississauga's most desirable neighbourhoods offering space, comfort and incredible future potential with a separate entrance. From the moment you step inside you're greeted by a bright, inviting layout with elegant hardwood floors flowing through the living and dining room leading to a warm, welcoming family room with gas fireplace - perfect for relaxing evenings and entertaining guests. The open concept kitchen overlooks the family room space, creating the ideal setting for everyday living. Upstairs, enjoy laminate flooring throughout and a spacious 5-piece modern ensuite. Three more generously sized bedrooms plus a rare second family room providing the flexibility of today's family needs, whether for a home office, kids lounge or additional living space. The unfinished basement offers a blank canvas with rough in bathroom and endless possibilities and a separate entrance. (42912342)
All photos
49 additional · click any to expand
Section · Neighborhood
Where it sits.
Lisgar
Lisgar is a west Mississauga neighbourhood bounded roughly by Derry Road, Britannia Road, Winston Churchill Boulevard, and the Halton border. The Lisgar GO station on the Milton line provides the primary transit anchor, and Highways 401 and 407 frame the commuter geometry into Mississauga, Oakville, and the western 905 employment belt. The detached segment is dominated by late-1990s and early-2000s family stock, which keeps turnover modest and supports steady end-user demand.
Secondary suite demand in this submarket is underpinned by proximity to Sheridan College's Trafalgar campus, Meadowvale Business Park, and the broader Mississauga office inventory. Mississauga's Additional Residential Unit bylaw permits second units in detached homes subject to building permit and zoning compliance, which is the regulatory basis for the conversion thesis on this property.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: estimated cash flow is negative in every financed scenario through 75% down, and only 100% cash clears positive at an estimated $1,320.12 per month.
In-place cap rate of an estimated 1.15% means the property does not underwrite as a cash-flow asset at acquisition; the thesis depends on executing the basement suite conversion.
Secondary suite legalization requires Mississauga building permit approval, ESA inspection, and compliance with the Additional Residential Unit bylaw; permitting timelines and costs are not guaranteed.
Rent estimate of $3,500 per month is sourced from widened comparables rather than direct comps; achievable rent on the upper unit and a future basement unit may vary.
Unfinished basement requires capital expenditure before the suite generates income; carry costs accrue during the build-out period.
No recent sold comparables were available to triangulate ARV after conversion.