3+1 bed Cooksville condo at $439,000, positive carry from 20% down, steps to GO and future LRT
Spacious 3+1 bedroom condo in central Mississauga steps from Cooksville GO and the future Hurontario LRT, listed at $439,000 with an estimated 6.29% cap rate. Estimated cash flow is positive across all five down-payment scenarios, making it a rare entry-level GTA condo with leveraged carry.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$439,000
Cap rate
+6.29%
Est. monthly rent
$3,275
Source: comparables_widened
CF at 20% down
+$249/mo
first positive
Cash-on-cash
+2.96%
at 20% down
The Deal
Spacious 3+1 bedroom condo in central Mississauga steps from Cooksville GO and the future Hurontario LRT, listed at $439,000 with an estimated 6.
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 | $153,650 |
| Mortgage principal | $285,350 |
| Land transfer tax | $6,585 |
| Closing costs | $6,585 |
| Total acquisition | $166,820 |
Monthly cash flow
| Estimated rent | +$3,275 |
| Operating expenses | -$975 |
| Mortgage payment | -$1,666 |
| Net cash flow | +$634/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $164/mo |
| Maintenance reserve | $366/mo |
| Insurance | $183/mo |
| Property management | $262/mo |
Math by deterministic Python calculator. Rate 4.99% over 25 years. Rent source: comparables_widened (6 comps).
Breakeven
This property turns cash-flow positive at 10.3% 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 ($6,585), and closing costs ($6,585).
Section · Investment Thesis
Why this property.
This 3+1 bedroom, 2-bathroom condo at 2323 Confederation Parkway is listed at $439,000 in the Cooksville pocket of Mississauga. With an estimated gross annual rent of $39,300 and annual NOI of $27,606, the property produces an estimated cap rate of 6.29% and gross yield of 8.95%, figures that are uncommon for a GTA condo in this price band. The family-sized 3+1 layout broadens the tenant pool to include families and roommate households, supporting the rent comparable set used here.
Leverage sensitivity is meaningful but the property carries positively across every scenario, which is the key differentiator. At 20% down ($87,800), the estimated monthly mortgage payment is $2,051.03 and estimated monthly cash flow is +$249.47, a 2.96% cash-on-cash return. At 35% down ($153,650), estimated monthly cash flow improves to +$634.03 (4.56% cash-on-cash). At 50% down ($219,500), estimated monthly cash flow is +$1,018.60 (5.25%). At 75% down, estimated monthly cash flow is +$1,659.55 (5.82%), and an all-cash purchase produces estimated monthly cash flow of +$2,300.50 at a 6.11% cash-on-cash return. The minimum recommended down payment for positive carry is therefore 20%, which is unusual in today's GTA condo market.
The location thesis is grounded in transit and healthcare. The listing notes the unit is "Steps To Cooksville GO & Future Hurontario LRT" and "1 Min To Trillium Hospital," with Highway 403 three minutes away and Square One and Port Credit roughly 10 minutes out. The Hurontario LRT, currently under construction along the Hurontario corridor, is the principal medium-term catalyst for rental demand and resale liquidity in this node. Trillium Health Partners' Mississauga Hospital across the street anchors a stable base of healthcare worker tenants.
Hold period guidance is 60 months or longer to allow the LRT to come online and to amortize transaction costs (estimated $6,585 land transfer tax plus $6,585 closing costs). The principal risks are condo-specific: the financial model uses a $0 monthly maintenance fee, which should be verified against the current status certificate before any offer, since actual fees will materially change the cash flow profile. Buyers should also confirm the unit's interior square footage, as the listed 111 figure appears to be a data artifact.
Key features
- 3+1 bedroom, 2-bathroom layout suitable for families or roommate tenancies
- Southeast exposure with enclosed balcony converted to office/den
- Primary bedroom with walk-through closets and 2-piece ensuite
- All-inclusive maintenance fees per listing (verify on status certificate)
- Building amenities include indoor pool, gym, sauna, workshop, party room
- Steps to Cooksville GO Station and future Hurontario LRT stop
- 1 minute to Trillium Hospital, 3 minutes to Highway 403
- Estimated cap rate of 6.29% on $439,000 list price
Original MLS description
Spacious 3 + 1 Bedroom Family-Size Or Downsizers Dream Condo With Southeast Exposure & Abundant Natural Light. Classic Mosaic-Tiled Foyer Offering Nostalgic Charm. Spacious Eat-In Kitchen With Faux Skylight Ceiling, Rustic Quality Cabinets, Built-In Dishwasher & Clean Functional Appliances. Enclosed Balcony Converted To Fully Sealed Office/Study/Den Room With Raised Floor. Bright Unit With Ample Natural Light Throughout. Large Living Area With Extra Open Den/Study Nook. Three Generous Bedrooms With Large Windows, Window Coverings & Good-Sized Closets. Primary Bedroom Features His & Hers Walk-Through Closets & 2-Pc Ensuite. Updated Bathrooms, Newer Light Fixtures, Well-Sealed Double-Paned Windows & Good HVAC Providing Excellent Cooling. Prime Central Location: 1 Min To Trillium Hospital, 3 Mins To Hwy 403, 10 Mins To Square One & Port Credit, 15 Min To Hwy 401. Bright Sun-Filled Unit With Clear South-East Views. Steps To Cooksville GO & Future Hurontario LRT. Walking Distance To Hospital, Schools, Parks, Shopping & More. Minutes To Waterfront Trails, Marinas, Cafes & Restaurants. All-Inclusive Utilities For Predictable Monthly Cost. Excellent Amenities: Indoor Pool, Gym, Sauna, Workshop, Party Room. Unmatched Value In The Heart Of Mississauga! No OdorsClean, Nostalgic Scent. Evident Pride Of Ownership. Ideal Opportunity To Customize A Spacious 3+2 Layout! (42522645)
Section · Neighborhood
Where it sits.
Cooksville
Cooksville is a high-density, transit-oriented node in central Mississauga anchored by Trillium Health Partners' Mississauga Hospital and the Cooksville GO Station on the Milton line. The neighborhood is a primary beneficiary of the Hurontario LRT, an 18 kilometre light rail line under construction along Hurontario Street connecting Port Credit to Brampton Gateway, with a stop adjacent to this building.
Demand drivers include hospital staff, GO commuters into downtown Toronto, and Sheridan College and University of Toronto Mississauga students. The unit is approximately 10 minutes to Square One, Canada's second-largest shopping centre, and to Port Credit's waterfront, with Highway 403 three minutes away and Highway 401 fifteen minutes out. The corridor is undergoing sustained intensification, with multiple condo towers either under construction or in approvals along Hurontario.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Financial model uses $0 monthly maintenance fee and $0 property tax; verify both on status certificate and tax bill before offering, as actual figures will materially reduce cash flow
Listed interior area of 111 sqft appears to be a data error; confirm actual square footage
Cash flow varies substantially across leverage scenarios (high leverage sensitivity), from +$249.47/month at 20% down to +$2,300.50/month all-cash
Rent estimate sourced from widened comparable set (6 comparables); actual achievable rent may vary
Older building stock; capital reserve adequacy and special assessment history should be reviewed
Hurontario LRT timeline subject to construction delays beyond investor control