Fully renovated Swansea detached with garden suite potential, listed at $1,899,000
Turnkey 3+1 bed, 4 bath detached in High Park-Swansea with extensive 2026 renovations and Committee of Adjustment approval for added living space. Rental economics do not support this asset class at current pricing; the thesis is end-user quality and long-horizon west-end appreciation.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,899,000
Cap rate
+0.04%
Est. monthly rent
$2,800
Source: comparables_widened
CF at 100% cash
+$62/mo
+0.0% CoC
Hold period
60+ mo
planned
The Deal
Turnkey 3+1 bed, 4 bath detached in High Park-Swansea with extensive 2026 renovations and Committee of Adjustment approval for added living space.
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 | $664,650 |
| Mortgage principal | $1,234,350 |
| Land transfer tax | $28,485 |
| Closing costs | $28,485 |
| Total acquisition | $721,620 |
Monthly cash flow
| Estimated rent | +$2,800 |
| Operating expenses | -$2,738 |
| Mortgage payment | -$7,209 |
| Net cash flow | -$7,146/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $140/mo |
| Maintenance reserve | $1,583/mo |
| Insurance | $791/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 99.4% 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 ($28,485), and closing costs ($28,485).
Section · Investment Thesis
Why this property.
This is a fully renovated detached home at 2 Ostend Avenue in High Park-Swansea listed at $1,899,000. The interior was redesigned in collaboration with an interior designer with completion noted in April 2026, including engineered white oak flooring, a custom kitchen with EGGER cabinetry and quartz counters, glass railings, an updated primary ensuite, and a finished lower level with a built-in sauna and additional bedroom. Mechanical upgrades include roof shingles from September 2022 and a furnace installed in December 2023 with a 10-year manufacturer warranty. The property also carries Committee of Adjustment approval to convert balcony space into a bedroom, adding approximately 100 square feet.
Investor economics are clear: this property does not work as a pure rental at list price. Estimated gross monthly rent is $2,800 against monthly operating expenses of $2,737.75, producing an estimated annual NOI of $747 and an estimated cap rate of 0.04%. Across the five leverage scenarios, estimated monthly cash flow is -$8,809.99 at 20% down, -$7,146.45 at 35% down, -$5,482.90 at 50% down, -$2,710.33 at 75% down, and only +$62.25 at 100% cash. Cash-on-cash returns range from -24.20% at 20% down to 0.04% on an all-cash basis. The minimum scenario that reaches neutral carry is a 100% cash purchase, and even there the return is essentially zero on an income basis.
Leverage sensitivity is high in absolute dollar terms: each 15 to 25 percentage point increase in down payment cuts the monthly carry shortfall by roughly $1,600 to $2,800. However, no financed scenario produces positive cash flow, so the investment case here is not income, it is the underlying west-end Toronto land and the recently completed renovation work. The Swansea pocket sits steps from Bloor Street retail and a short walk to the subway, and the deep lot carries noted future potential for a garden suite, which is the most credible value-add lever beyond the existing improvements.
Recommended posture is a long hold of 60 months or more, ideally for a cash or high-equity buyer who values the renovated end-user product and wants exposure to High Park-Swansea land. Investors focused on monthly yield should pass. Anatoli Chtcherbatov of Sutton Group Admiral Realty can advise on garden suite feasibility and end-user resale positioning for buyers underwriting this as an appreciation and lifestyle hold.
Key features
- Fully renovated 3+1 bed, 4 bath detached with completion noted April 2026
- Custom kitchen with EGGER cabinetry, quartz counters, new gas stove and fridge
- Engineered white oak flooring, glass railings, designer lighting throughout
- Finished lower level with additional bedroom and built-in sauna
- Roof shingles installed September 2022; new furnace December 2023 with 10-year warranty
- Legal front pad parking, a sought-after feature in the west-end
- Deep lot with noted future potential for a garden suite
- Committee of Adjustment approval to add approx 100 sq ft of living space
- Steps to Bloor Street retail and a short walk to the subway
Original MLS description
This fully renovated 3+1 bed, 4 bath detached home is the definition of turnkey luxury in an unbeatable Swansea location.Thoughtfully redesigned w/a clean, modern aesthetic, the home features engineered white oak flooring throughout the main & second floors, sleek glass railings, designer lighting, & a bright open-concept layout that feels both elevated & inviting. Completed in April 2026 in collaboration w/an interior designer, the extensive renovations create a cohesive, high-end feel across every level of the home.The stunning custom kitchen anchors the main floor w/premium EGGER cabinetry, quartz counters, a matching quartz backsplash, & a new gas stove & fridge. Upstairs, the spacious primary suite offers a updated ensuite featuring a new glass shower, modern vanities, & refined contemporary finishes.The finished lower level adds exceptional versatility w/an additional bdrm, waterproof laminate flooring, & an incredibly rare built-in sauna, creating the ultimate private wellness retreat right at home. Additional 2026 upgrades include new stairs with sleek glass railings, updated lighting fixtures, new vanities & shower fixtures, & thoughtfully selected finishes throughout. Beyond the cosmetic updates, major mechanical improvements include newly installed roof shingles (Sept 2022) & a brand new furnace installed in Dec 2023 complete w/a 10-year manufacturer warranty. The property also includes a rented water heater & legal front pad parking a highly sought-after feature in this prime west-end pocket.Set on a deep lot w/future potential for a garden suite, the home also comes w/Committee of Adjustment approval to incorporate balcony space into a bdrm, adding approx 100 sq ft of additional living space.Located in the heart of Swansea, steps to Bloor Street's cafés, restaurants, grocers, parks, transit, & a short walk to the subway, this is a rare opportunity to own a fully transformed, move-in-ready home in one of Toronto's most desirable west-end communities. (42914554)
Section · Neighborhood
Where it sits.
High Park-Swansea
High Park-Swansea is one of Toronto's most established west-end communities, anchored by High Park, the Humber River, and Bloor West Village. The subject is steps to Bloor Street cafés, restaurants, grocers, parks, and transit, with a short walk to the subway providing direct access to the downtown core. Demand in this pocket is driven by end-user families and move-up buyers seeking detached product in a low-turnover neighborhood with strong school catchments and lakefront access.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Negative monthly cash flow in all financed scenarios; only 100% cash reaches positive carry at +$62.25/month
Estimated cap rate of 0.04% indicates this asset is priced as end-user product, not income property
High leverage sensitivity: monthly carry shortfall ranges from -$8,809.99 at 20% down to -$2,710.33 at 75% down
Reported sqft of 139 in the data feed appears to reflect a unit conversion artifact rather than actual home size; verify floor area before underwriting
Renovation completion date listed as April 2026 should be verified against current site condition
Garden suite potential and Committee of Adjustment approval require independent due diligence on permits and feasibility
No recent sold comparables provided in the data set to triangulate resale value