Willowdale West 51' x 130.6' redevelopment lot steps from Yonge Street
A 51 by 130.6 foot lot in Willowdale West listed at $1,288,000, walking distance to Yonge Street with an existing brick bungalow positioned for renovation, rebuild, or garden-suite intensification. The play here is land value and redevelopment optionality, not in-place cash flow.
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
The Deal
A 51 by 130.
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 |
Math by deterministic Python calculator. Rate 4.99% over 25 years. Rent source: comparables_widened (63 comps).
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 is a land and redevelopment thesis in one of North York's most established corridors. The listing is a 51 by 130.60 foot lot in Willowdale West with an existing 3+1 bedroom, 3 washroom brick bungalow that the listing notes "requires renovation to make it livable." The investor case rests on lot value, proximity to Yonge Street, and the optionality to build a custom home or a multi-residential configuration with a garden suite, rather than on rental yield from the existing structure.
The in-place economics are weak, which is typical for redevelopment land in this submarket. Estimated gross annual rent is $33,600 against an estimated annual NOI of $9,912, producing an estimated cap rate of 0.77% and a gross yield of 2.61%. Leverage sensitivity is high. At 20% down the estimated monthly cash flow is -$5,191.61 with a cash-on-cash of -21.03%; at 35% down it improves to -$4,063.31 (-9.96%); at 50% down to -$2,935.01 (-5.16%); at 75% down to -$1,054.50 (-1.26%); and only at a 100% cash purchase does the property reach positive carry at an estimated +$826.00 per month and a 0.75% cash-on-cash return. The minimum recommended down payment for neutral or positive carry on the existing structure is therefore 100%.
Because no leveraged scenario produces positive carry, this property does not underwrite as a buy-and-hold rental. It underwrites as a builder or end-user acquisition where the exit is a new custom home, a rebuild with secondary suite and garden suite, or a long-hold land bank in a Yonge corridor neighbourhood that has seen sustained intensification. Hold-period implications favour a short development timeline (build and sell or build and refinance) or a multi-year hold for buyers willing to absorb negative carry while planning approvals and construction.
Investors should size their capital plan around redevelopment costs in addition to the $1,288,000 list price, the $19,320 estimated land transfer tax, and $19,320 in estimated closing costs. Suitable for builders, experienced value-add investors, and cash buyers with a defined redevelopment plan. Contact Anatoli Chtcherbatov at Sutton Group Admiral Realty for lot dimensions, zoning context, and a redevelopment underwriting walkthrough.
Key features
- 51 ft by 130.60 ft lot in Willowdale West
- Walking distance to Yonge Street
- Existing 3+1 bedroom, 3 washroom brick bungalow
- Partially finished basement and attached garage
- Garden suite redevelopment potential in the backyard
- Suitable for builders, renovators, and end users
- Existing structure requires renovation to be livable
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 sits in the Yonge Street corridor of North York, one of the GTA's most established intensification spines. The listing description states the property is "Walking Distance to Yonge Street and All Amenities," which places it within reach of the Yonge subway line, North York Centre commercial nodes, and established retail. The area has a long track record of custom home rebuilds and small-scale multi-residential intensification, supported by Ontario's recent provincial framework permitting additional residential units and garden suites on serviced lots.
Demand drivers include transit access, school catchments, and ongoing redevelopment of older bungalows on deep lots into modern detached homes or multi-unit configurations. The 51 by 130.60 foot lot profile is consistent with the prevailing rebuild stock in the immediate area.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: only a 100% cash purchase produces positive estimated monthly cash flow; all financed scenarios are negative.
Existing structure requires renovation to be livable per the listing description, implying meaningful capex before any rental income can be realized.
Estimated cap rate of 0.77% reflects a land and redevelopment thesis, not an income thesis.
Redevelopment optionality (custom build, multi-residential, garden suite) is subject to municipal zoning, permits, and approvals not verified in this listing.
Listed square footage of 102 appears to be a data entry artifact and should be confirmed on site.
Rent estimate is derived from widened comparables (63 comps) rather than in-place leases.