Willowdale West 51 x 130 lot with bungalow: rebuild or garden-suite redevelopment play
A 51 by 130.60 foot lot in Willowdale West, walking distance to Yonge Street, with an existing 3+1 brick bungalow that requires renovation. The thesis is land value and redevelopment optionality, not current income; carry is negative at every leveraged scenario.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,288,000
Cap rate
+0.77%
Est. monthly rent
$2,800
Source: comparables_widened
Est. net spread
+$294K
6mo hold
Annualized ROI
+45%
preliminary
Section · Why this passed our floor
What lifts the math here
Current cap
0.77% 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
$294,360 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 | $450,800 |
| Mortgage principal | $837,200 |
| Land transfer tax | $19,320 |
| Closing costs | $19,320 |
| Total acquisition | $489,440 |
Monthly cash flow
| Estimated rent | +$2,800 |
| Operating expenses | -$1,974 |
| Mortgage payment | -$4,889 |
| Net cash flow | -$4,063/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $140/mo |
| Maintenance reserve | $1,073/mo |
| Insurance | $537/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 89.0% 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 ($19,320), and closing costs ($19,320).
Section · Investment Thesis
Why this property.
This listing suits a builder, land-banker, or value-add investor underwriting Willowdale West dirt rather than in-place income. List price is $1,288,000 against an estimated cap rate of 0.77%, so the case is redevelopment optionality on a 51 by 130.60 foot lot, with a path to a custom rebuild or a multi-residential configuration that includes a garden suite. The existing 3+1 brick bungalow can hold interim tenancy after renovation, but the affirmative return comes from converting land to a higher and better use.
Willowdale West sits west of Yonge Street between Sheppard and Finch, inside a corridor that the City of Toronto has steadily intensified around the Yonge subway. The subject is walking distance to Yonge Street and All Amenities, which places it within reach of Line 1 service at Sheppard-Yonge and North York Centre and the Yonge North Subway Extension alignment north into Richmond Hill. The Willowdale pocket continues to see custom-home turnover on 50-foot frontages, and the city's permissive garden-suite framework, referenced directly in the listing as a Garden Suite In The Spacious Backyard, supports a two-structure income strategy on lots of this depth.
Execution requires capital. Even at 75% down, estimated monthly cash flow is -$1,054.50; only the all-cash scenario clears breakeven at +$826.00 per month with a 0.75% cash-on-cash return. The recommended path is 75% down or all cash for buyers planning a 36 to 60 month horizon, using year one to complete renovation or permit a rebuild, then either holding the bungalow plus garden suite for long-term appreciation or exiting on completion of the custom build.
Key features
- 51 by 130.60 foot lot in Willowdale West
- Walking distance to Yonge Street
- Existing 3+1 bedroom solid brick bungalow with 3 washrooms
- Partially finished basement and attached garage
- Garden suite potential in the backyard per listing
- Redevelopment optionality: renovate, rebuild, or multi-residential
Original MLS description
This Premium Lot (51 ' x 130.60 ') Located In A Highly Desirable Part of Willowdale West Area, Walking Distance to Yonge Street and All Amenities! A Rare And Fantastic Opportunity For Builders, Renovators, Investors, And End Users To Build A Dream Custom Home Or Develop A Multi-Residential Property With A Garden Suite In The Spacious Backyard! This Property Offers Endless Possibilities For Redevelopment, Investment, Or Personal Use. Existing Solid Brick Bungalow Features 3+1 Bedrooms, 3 Washrooms, Partially Finished Basement, And An Attached Garage, It Offers Great Potential But Requires Renovation To Make It Livable. "An Incredible Opportunity To Renovate, Rebuild, Or Invest In A Coveted Neighbourhood With Tremendous Future Value! (42919806)
Section · Neighborhood
Where it sits.
Willowdale West
Willowdale West is a low-rise residential pocket west of Yonge Street between Sheppard Avenue and Finch Avenue, anchored by the Yonge subway (Line 1) at Sheppard-Yonge, North York Centre, and Finch stations. The submarket has seen sustained custom-home redevelopment on 50-foot frontages and is within the broader North York Centre intensification corridor.
The garden-suite bylaw adopted by the City of Toronto allows a second detached residential structure on lots of sufficient depth, which is directly relevant to a 130.60 foot deep lot like this one.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Negative monthly carry at every leveraged scenario; only all-cash reaches positive territory at +$826.00 per month
Estimated cap rate of 0.77% is well below GTA financing costs; this is a land and redevelopment thesis, not an income thesis
Property requires renovation to make it livable per the listing; budget renovation cost and downtime before any rental income
Garden suite and rebuild paths require municipal permitting and zoning compliance; timelines and feasibility are not guaranteed
Estimated rent of $2,800 per month is sourced from widened comparables and may not reflect post-renovation achievable rent
High leverage sensitivity: 20% down produces -$5,191.61 monthly cash flow versus +$826.00 all-cash