Detached duplex steps from Dufferin Station with garden suite upside on a 120-foot lot
Detached two-unit home on a 120-foot-deep lot, steps from Dufferin Subway Station on the Bloor-Danforth Line. Vacant upper unit allows immediate rent reset, while the rear bi-level and deep lot open a garden suite NOI lift.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,025,000
Cap rate
+1.91%
Est. monthly rent
$3,350
Source: comparables_widened
Est. net spread
+$229K
6mo hold
Annualized ROI
+44%
preliminary
Section · Why this passed our floor
What lifts the math here
Current cap
1.91% 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
$229,063 estimated over a 6-month hold using default market reno costs and the underwritten rent source.
Recommended leverage
75% 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 | $358,750 |
| Mortgage principal | $666,250 |
| Land transfer tax | $15,375 |
| Closing costs | $15,375 |
| Total acquisition | $389,500 |
Monthly cash flow
| Estimated rent | +$3,350 |
| Operating expenses | -$1,717 |
| Mortgage payment | -$3,891 |
| Net cash flow | -$2,258/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $168/mo |
| Maintenance reserve | $854/mo |
| Insurance | $427/mo |
| Property management | $268/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=24).
Breakeven
This property turns cash-flow positive at 72.7% 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 ($15,375), and closing costs ($15,375).
Section · Investment Thesis
Why this property.
This listing suits a value-add investor with capital to absorb negative carry while pursuing an income-conversion path. The mechanic is a NOI lift through a rear extension or garden suite addition on a 120-foot-deep lot, layered onto an already-configured detached duplex. At the $1,025,000 list price the in-place cap rate is an estimated 1.91%, so the thesis is not current yield; it is the future yield once a third unit is added and the vacant upper suite is leased at market.
The submarket is anchored by Dufferin Subway Station on the Bloor-Danforth Line (Line 2), one stop east of Lansdowne and a direct ride to St. George and Yonge-Bloor. The property sits within the Dovercourt-Wallace Emerson-Junction pocket, adjacent to Bloor Court Village and Dufferin Grove Park. The City of Toronto's as-of-right garden suite framework, in effect city-wide, lets owners on lots of this depth permit a detached secondary structure without rezoning. Comparable streets in the Dufferin and Bloor corridor have absorbed laneway and garden-suite builds, supporting the rear-build precedent the listing cites from neighbouring homes.
Execution favours the 75% down scenario, where estimated monthly cash flow turns positive at $136.73 on an estimated $3,350 in monthly rent from the existing two units. A 24 to 48 month plan: lease the vacant upper unit immediately, design and permit the garden suite in year one, build and stabilize in year two, then refinance against the lifted NOI. Investors without the capital for 75% down should treat the negative carry at 20% down, an estimated $3,155.61 per month, as the cost of optionality.
Key features
- Detached duplex configuration with two separate entrances on the rear unit
- Upper unit delivered vacant, allowing immediate market-rent lease
- 120-foot-deep lot with garden suite or rear extension potential
- Steps from Dufferin Subway Station on the Bloor-Danforth line
- Four bedrooms and two full bathrooms across two units
- Estimated monthly rent of $3,350 from the two existing units
Original MLS description
Unveil An Incredible Investment Opportunity Or The Perfect Live-And-Rent Scenario In The Heart Of One Of Toronto's Most Vibrant Neighborhoods! This Versatile Detached Duplex At 1132 Dufferin Street Is Priced Competitively And Offers A Highly Functional Layout For Both Savvy Investors And Buyers Looking To Supplement Their Mortgage With Rental Income. The Spacious Upper Unit Is Delivered Vacant And Features A Sun-Drenched Living Room With A Stunning Bay Window, A Large Eat-In Kitchen, A Full Bathroom, And A Primary Bedroom On The Second Floor, While The Third Floor Boasts An Additional Bedroom And A Versatile Den Space Perfect For A Home Office. The Rear Unit Offers A Unique Bi-Level Layout With Two Separate Entrances Via A Main Floor Kitchen Walk-Out And A Convenient Basement Walk-Up; This Unit Includes A Living Area, Kitchen, Bedroom On Main Level, And A Full Bathroom, Bedroom & Den On Lower Level. Currently Occupied By Great Tenants Who Are Open To Staying Or Providing Flexibility For The New Owner. Set On An Impressive 120-Foot Deep Lot, This Property Provides A Massive Backyard With Tremendous Upside Potential; Take Inspiration From The Neighbouring Homes And Explore A Rear Extension Or The Addition Of A Garden Suite To Maximize The Property's Value. The Location Is Truly Unbeatable, Positioned Steps From The Dufferin Subway Station, Bloor Court Village, And The Iconic Dufferin Grove Park, Surrounded By Toronto's Best Coffee Shops, Trendy Dining, And Boutique Shopping. With The Bloor-Danforth Subway Line At Your Doorstep, Access To The Downtown Core Is Effortless. This Is A Rare Chance To Secure A Detached Multi-Unit Home In A High-Demand Transit Hub. Offers Are Welcomed Anytime, So Do Not Miss Your Chance To Own A Piece Of Dufferin Street's Bright Future! (42916829)
All photos
31 additional · click any to expand
Section · Neighborhood
Where it sits.
Dovercourt-Wallace Emerson-Junction
Dovercourt-Wallace Emerson-Junction sits along the Bloor-Danforth subway corridor between Dufferin and Lansdowne stations, with Bloor Court Village and Dufferin Grove Park as primary amenity anchors. The pocket has absorbed steady reinvestment, with garden suites and rear additions appearing on similarly deep lots. Direct subway access to the downtown core via Line 2 supports rental demand from young professionals and student tenants tied to U of T and the financial district.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Estimated cap rate of 1.91% means the property runs negative cash flow at 20%, 35%, and 50% down scenarios; only 75% down and all-cash scenarios produce positive carry
High leverage sensitivity: monthly cash flow swings from an estimated -$3,155.61 at 20% down to +$1,633.25 at 100% cash
Garden suite construction depends on City of Toronto permitting timelines, lot servicing, and build cost inflation; the NOI lift is not guaranteed
Existing tenant in the rear unit may limit flexibility on rent reset or renovation scheduling
Rent estimate is sourced from widened comparables rather than in-place leases, introducing variance
Small reported sqft figure (185) appears to be a data entry artifact and should be verified on site