Turnkey Swansea detached with garden-suite lot and Committee of Adjustment approval
Fully renovated 3+1 bed detached in High Park-Swansea listed at $1,899,000, set on a deep lot with future garden suite potential. The income-conversion path runs through a second dwelling unit on a site that already carries Committee of Adjustment approval to add roughly 100 sq ft of upstairs living space.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,899,000
Cap rate
+0.04%
Est. monthly rent
$2,800
Source: comparables_widened
Est. net spread
+$435K
6mo hold
Annualized ROI
+46%
preliminary
Section · Why this passed our floor
What lifts the math here
Current cap
0.04% 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
$434,568 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 | $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 |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=63).
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.
Value-add investor with deep equity. The mechanic is a garden suite added to the rear of a deep Swansea lot, layered on top of an already-renovated 3+1 principal dwelling. At the $1,899,000 list price the in-place rent supports an estimated cap rate of 0.04%, so the thesis is not current yield; it is converting the rear yard into a second legal rental address and refinancing into a two-door asset. The Committee of Adjustment approval for an additional 100 sq ft upstairs is a secondary lift that improves the principal-house rent on stabilization.
Swansea sits inside the High Park-Swansea pocket between High Park and the Humber. The listing notes the home is steps to Bloor Street's cafes, restaurants, grocers, parks, transit, and a short walk to the subway, placing the address within walking range of Runnymede and Jane stations on Line 2. Bloor West Village and the Queensway provide the retail spine, and the South Kingsway and Lake Shore corridors feed Gardiner access. End-user demand in this catchment is driven by detached scarcity west of High Park, which supports exit pricing for a renovated two-unit configuration. Garden suite permissions across the City of Toronto, in place since the 2022 bylaw, make the rear-yard build a defined planning path rather than a rezoning gamble.
Execution requires capital. Even at 75% down the estimated monthly cash flow is -$2,710.33, and only the 100% cash scenario reaches a modestly positive +$62.25. Recommended structure is 75% down or all-cash during the 18 to 36 month garden suite design, permit, and build window, then refinance the stabilized two-unit asset on combined rent. Hold 60+ months to compound the suite-conversion NOI lift through the next cycle.
Key features
- Fully renovated 3+1 bed, 4 bath detached, turnkey condition
- Deep lot with future potential for a garden suite (income-conversion mechanic)
- Committee of Adjustment approval to add approx 100 sq ft of upstairs living space
- Custom kitchen with EGGER cabinetry, quartz counters and backsplash
- Engineered white oak flooring on main and second floors
- Finished lower level with additional bedroom and built-in sauna
- New furnace Dec 2023 with 10-year manufacturer warranty; roof shingles Sept 2022
- Legal front pad parking, rare in this pocket
- Short walk to Bloor Street subway service on Line 2
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)
All photos
49 additional · click any to expand
Section · Neighborhood
Where it sits.
High Park-Swansea
High Park-Swansea is a detached-dominant west-end Toronto pocket bordered by High Park, the Humber River, and Lake Ontario. The subject is steps to Bloor Street retail and a short walk to Line 2 subway service, with Bloor West Village immediately north and the Queensway / Lake Shore corridors to the south feeding Gardiner Expressway access.
Detached supply west of High Park is structurally tight, which supports resale and rent pricing for renovated principal-plus-garden-suite configurations. The City of Toronto's garden suite bylaw establishes a defined as-of-right planning path for second dwelling units on lots of this depth, subject to Committee of Adjustment where required.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: estimated cash flow is negative at 20%, 35%, 50%, and 75% down scenarios. Only 100% cash reaches positive carry at an estimated +$62.25 per month.
Estimated cap rate of 0.04% means the in-place rent does not support the asset at list price without the garden suite conversion thesis executing.
Garden suite path requires permits, construction capital, and timeline risk; Committee of Adjustment approval covers the upstairs balcony conversion, not the rear-yard suite, which would be a separate planning process.
Rent estimate of $2,800/month is sourced from widened comparables and may not reflect achievable rent for a renovated detached of this caliber.
Sqft field in the data feed (139) appears to be a data error and should be verified against the listing before underwriting.