Renovated Playter Estates detached with separate-entrance basement and laneway housing potential
Move-in renovated three-bedroom on Ferrier Avenue with an unfinished separate-entrance basement and laneway suite potential, five minutes from Chester and Pape stations. The value-add path is converting the basement to a legal secondary unit and, longer term, adding a laneway dwelling on the Jackman Avenue school catchment lot.
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
Section · Why this passed our floor
What lifts the math here
Current cap
1.16% 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
$250,417 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 | $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 |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=63).
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.
This is a value-add play for an intermediate investor or end-user-investor willing to deploy capital into a basement conversion and, longer term, a laneway suite. The list price is $1,099,000 against an estimated cap rate of 1.16% on current single-family rent assumptions, so the thesis is not current yield; it is NOI lift through a second (and potentially third) legal unit on a Playter Estates lot that already carries rare parking and a separate basement entrance.
Playter Estates-Danforth sits inside the Jackman Avenue Public School catchment, a named draw that anchors family demand on the north side of the Danforth. The property is a five-minute walk to both Chester and Pape stations on TTC Line 2, putting Bloor-Yonge roughly ten minutes west by subway. The Walk Score of 99 reflects the Danforth retail spine of cafés, restaurants and shops immediately south. Laneway housing is permitted under the City of Toronto laneway suite framework, and the listing flags laneway housing potential on this lot, layering a second NOI step on top of the basement conversion.
Execution favours a 75% down or all-cash entry. At 75% down, estimated monthly cash flow is -$542.31 on current single-family rent; all-cash flips to an estimated +$1,062.25 per month. Budget six to twelve months to legalize the basement suite, then a 24 to 60 month window to evaluate laneway construction. Refinance once both units are stabilized to recover capital, and hold for Danforth corridor appreciation through the Jackman catchment.
Key features
- Over 1,300 sqft above-grade renovated living space
- Three bedrooms, two bathrooms, custom kitchen with stone counters
- Unfinished basement with separate entrance (suite potential)
- Laneway housing potential on lot
- Rare on-site parking
- Jackman Avenue Public School catchment
- Five-minute walk to Chester and Pape subway stations (TTC Line 2)
- Walk Score 99
Original MLS description
Welcome to 10 Ferrier Avenue, a beautifully renovated home offering over 1,300 square feet of above-grade living space in one of Toronto's most coveted East End neighbourhoods.A welcoming front porch sets the tone for what awaits inside. The spacious main floor impresses with rich hardwood floors, oversized picture windows that flood the space with natural light, and a convenient powder room, creating a warm and functional setting for everyday family life. At the heart of the home is a gorgeous custom kitchen featuring ample cabinetry, stainless-steel appliances and elegant stone countertops. Whether you are hosting a dinner party or enjoying a quiet morning, this kitchen is designed to be lived in and loved. The functional family layout makes this a home that truly works for modern living at every stage. Upstairs, three well-proportioned bedrooms offer comfortable retreats for the whole family. The spacious primary bedroom features generous closets, providing the peaceful sanctuary every homeowner deserves .Beautifully renovated above grade with stylish finishes throughout, 10 Ferrier Avenue is truly move in ready. The unfinished basement with separate entrance presents a blank canvas and exciting potential for extended family living or meaningful rental income. Rare parking adds the kind of everyday convenience that is genuinely hard to come by, and for those with a longer-term vision, this property also offers laneway housing potential, a rare opportunity to add versatility and lasting value to an already outstanding home. Nestled within the coveted Jackman Avenue Public School district and just a short walk to Withrow Park and the vibrant Danforth, you will enjoy an exceptional array of cafés, restaurants, shops and everyday amenities. With a Walk Score of 99 and only a 5-minute stroll to both Chester and Pape subway stations, effortless connectivity and a strong neighbourhood feel come standard at 10 Ferrier Avenue. (42913135)
All photos
35 additional · click any to expand
Section · Neighborhood
Where it sits.
Playter Estates-Danforth
Playter Estates-Danforth is a tightly held East End pocket bordered by Withrow Park and the Danforth retail strip. The Jackman Avenue Public School catchment drives sustained family demand, and inventory of renovated detached homes on quiet side streets is thin.
Transit is a structural advantage: Chester and Pape stations on TTC Line 2 are both within a five-minute walk, placing Bloor-Yonge interchange and the financial core within a short subway ride. The Walk Score of 99 reflects daily-needs retail on the Danforth immediately south.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Negative cash flow at all leveraged scenarios; positive carry only achieved with 100% cash deployment.
High leverage sensitivity: monthly cash flow swings from -$4,072.34 at 20% down to +$1,062.25 at 100% cash.
Cap rate of 1.16% reflects single-family rent assumption; thesis depends on executing basement suite conversion to lift NOI.
Laneway suite feasibility subject to City of Toronto zoning, lane access, servicing and permit approval; not guaranteed.
Basement is unfinished; conversion cost, permitting and timeline are buyer's responsibility.
Rent estimate sourced from widened comparables, not direct subject-area lease comps.