Detached Dufferin duplex with garden-suite upside, steps to Line 2 subway
Detached two-unit home on a 120-foot deep lot steps from Dufferin Station, listed at $1,025,000 with the upper unit vacant. Carry is negative under conventional leverage; the thesis rests on transit-adjacent appreciation and a potential garden suite or rear extension.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,025,000
Cap rate
+1.91%
Est. monthly rent
$3,350
Source: comparables_widened
CF at 100% cash
+$1,633/mo
+1.9% CoC
Hold period
60+ mo
planned
The Deal
Detached two-unit home on a 120-foot deep lot steps from Dufferin Station, listed at $1,025,000 with the upper unit vacant.
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 | $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 |
Math by deterministic Python calculator. Rate 4.99% over 25 years. Rent source: comparables_widened (24 comps).
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.
1132 Dufferin Street is a detached duplex listed at $1,025,000 in Dovercourt-Wallace Emerson-Junction, positioned steps from Dufferin Subway Station on the Bloor-Danforth line. The estimated monthly rent of $3,350 (benchmarked against 24 widened comparables) produces gross annual rent of $40,200 and annual NOI of $19,599, translating to an estimated cap rate of 1.91% and gross yield of 3.92%. The upper unit is delivered vacant, which gives a new owner the ability to re-set rents to market or owner-occupy one unit while leasing the other.
Leverage sensitivity is high on this asset. At 20% down ($205,000), the monthly mortgage of $4,788.86 drives estimated monthly cash flow to -$3,155.61 and a cash-on-cash of -16.06%. At 35% down, estimated monthly carry improves to -$2,257.70 (-6.96% cash-on-cash), and at 50% down it is still -$1,359.79 (-3.00%). The property does not approach breakeven until roughly 75% down, where estimated monthly cash flow turns marginally positive at +$136.73 (0.21% cash-on-cash). A 100% cash purchase produces estimated monthly cash flow of +$1,633.25 and a 1.86% cash-on-cash return. The minimum down payment for neutral or positive carry under current assumptions is therefore 75%.
Because the in-place yield is thin relative to the 4.99% mortgage rate used over a 25-year amortization, the investment case is not a cash-flow case. It is an appreciation and value-add case anchored on three drivers: direct access to Line 2 at Dufferin Station, a 120-foot deep lot with potential for a rear extension or garden suite, and the option to lift rents through the vacant upper unit. Investors should underwrite a long hold (60+ months) to allow Toronto land values, transit-oriented demand, and any garden-suite buildout to compound against the negative early-year carry.
This profile suits a low-leverage or cash buyer, an owner-occupier offsetting their mortgage with the rear unit, or a value-add investor with the capital to execute a garden-suite addition. Buyers underwriting at 20% to 50% down should expect to fund a material monthly shortfall from outside capital. Financial figures are estimates only.
Key features
- Detached duplex, two self-contained units
- Upper unit delivered vacant; rear unit tenanted with flexibility
- 120-foot deep lot with garden suite / rear extension potential
- Steps to Dufferin Subway Station (Line 2, Bloor-Danforth)
- 4 bedrooms, 2 bathrooms across two units
- Walkable to Bloor Court Village and Dufferin Grove Park
- Two separate entrances to rear unit (main floor walk-out and basement walk-up)
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)
Section · Neighborhood
Where it sits.
Dovercourt-Wallace Emerson-Junction
Dovercourt-Wallace Emerson-Junction is one of Toronto's most active mid-town west neighborhoods, anchored by Dufferin Subway Station on the Bloor-Danforth (Line 2) subway. The property sits steps from Bloor Court Village and Dufferin Grove Park, with direct subway access to the downtown core. The corridor has steadily densified with infill housing, garden suites, and small-format retail, supporting durable rental demand from young professionals and students.
The 120-foot deep lot is unusually generous for the area and aligns with the City of Toronto's garden suite framework, which has been a recurring value-add play among neighbouring owners. Transit proximity, walkability, and the trend toward gentle density support the long-term appreciation thesis.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Negative estimated monthly cash flow at 20%, 35%, and 50% down scenarios; only approaches breakeven at 75% down
High leverage sensitivity: cash flow swings nearly $4,800/month between 20% down and 100% cash scenarios
Estimated cap rate of 1.91% is below the 4.99% mortgage rate used, creating negative leverage at conventional down payments
Annual property tax modeled at $0 in the provided figures; buyers should verify actual tax with the listing and underwrite accordingly
Sqft figure of 185 in the raw record appears to be a data error; verify floor area on site
Garden suite / rear extension upside is contingent on municipal approvals, construction cost, and timeline
Existing tenancy in rear unit subject to Ontario Residential Tenancies Act constraints on rent adjustments
No recent sold comparables provided to validate market value