Humber Summit double-lot bungalow (100 x 459 ft) with redevelopment potential, listed $1,999,888
Fully renovated 3-bed bungalow with a separate-entrance 3-bed basement apartment on a 100 by 459 foot double lot near Rowntree Mills Park. The thesis here is land and future redevelopment, not in-place rental yield.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,999,888
Cap rate
-0.04%
Est. monthly rent
$2,800
Source: comparables_widened
Est. net spread
+$460K
6mo hold
Annualized ROI
+46%
preliminary
The Deal
Fully renovated 3-bed bungalow with a separate-entrance 3-bed basement apartment on a 100 by 459 foot double lot near Rowntree Mills Park.
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 | $699,961 |
| Mortgage principal | $1,299,927 |
| Land transfer tax | $29,998 |
| Closing costs | $29,998 |
| Total acquisition | $759,957 |
Monthly cash flow
| Estimated rent | +$2,800 |
| Operating expenses | -$2,864 |
| Mortgage payment | -$7,592 |
| Net cash flow | -$7,656/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $140/mo |
| Maintenance reserve | $1,667/mo |
| Insurance | $833/mo |
| Property management | $224/mo |
Math by deterministic Python calculator. Rate 4.99% over 25 years. Rent source: comparables_widened (63 comps).
Breakeven
Negative carry at every scenario. Rent does not cover operating expenses; mortgage adds further drag.
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 ($29,998), and closing costs ($29,998).
Section · Investment Thesis
Why this property.
This Humber Summit property is positioned as a land and redevelopment play rather than a cash flow asset. The list price is $1,999,888 for a renovated detached bungalow on a premium 100 by 459 foot double lot, with a main-level 3-bedroom layout plus a finished basement apartment featuring a separate entrance and an additional 3 bedrooms. Estimated gross annual rent of $33,600 against $2,863.86 in monthly expenses produces an estimated annual NOI of -$766.32 and an estimated cap rate of -0.04%, so investors should underwrite this on lot value and future use, not in-place yield.
Leverage sensitivity is extreme at this price point. At 20% down ($399,978), the estimated monthly mortgage of $9,343.60 drives estimated monthly cash flow of -$9,407.46 and a cash-on-cash return of -24.54%. At 35% down, estimated monthly cash flow is -$7,655.53 (-12.09% cash-on-cash). At 50% down, estimated monthly cash flow is -$5,903.61 (-6.68%). At 75% down, the carry improves to an estimated -$2,983.73 per month (-2.30%). Even an all-cash purchase produces an estimated monthly cash flow of -$63.86 and a cash-on-cash return of -0.04%, meaning no down payment scenario reaches neutral or positive carry on current rent assumptions. The minimum recommended down payment for an investor who wants to minimize bleed while exploring redevelopment is 100% cash, where carry is effectively breakeven.
The investment case rests on the verbatim description: "ATTENTION INVESTORS, DEVELOPERS" and a lot "measuring [100 x 459] feet, a rare find offering exceptional redevelopment and investment possibilities." A 45,900 square foot parcel inside Toronto city limits, walking distance to Rowntree Mills Park and the Humber River, is the asset being underwritten. The existing rental income from the main floor and the basement apartment (separate entrance, 3 additional bedrooms) helps offset carry during a planning, severance, or design phase.
Hold-period implications: this is a 60-plus month hold suited to a builder, developer, or land banker with the capital to absorb negative carry while pursuing severance, infill, or custom build strategies. Buyers relying on conventional leverage should expect material monthly outflows and should pencil the deal on exit value, not rental income.
Key features
- 100 x 459 foot premium double lot (approximately 45,900 sq ft)
- Fully renovated detached bungalow with 3 main-floor bedrooms
- Finished basement apartment with separate entrance and 3 additional bedrooms
- New front porch railing and new wood fencing completed in 2024
- Walking distance to Rowntree Mills Park and the Humber River
- Positioned by the listing for investors, developers, and builders
Original MLS description
ATTENTION INVESTORS, DEVELOPERS. Discover the potential of this fully renovated detached bungalow situated on an expansive premium double lot measuring [100 x 459] feet - a rare find offering exceptional redevelopment and investment possibilities. This versatile property features a bright and spacious main level with 3 generous bedrooms, plus a professionally finished basement apartment complete with its own separate entrance and an additional 3 bedrooms, creating an outstanding income-generating opportunity. Nestled near the scenic beauty of Rowntree Mills Park and the picturesque Humber River, this home combines tranquility with incredible future potential. Recent upgrades include a stylish new front porch railing and brand-new wood fencing completed in 2024. An exceptional opportunity for investors, builders, or families looking to secure a truly unique property. (42921275)
Section · Neighborhood
Where it sits.
Humber Summit
Humber Summit is a north Etobicoke pocket bordered by the Humber River valley and Rowntree Mills Park, with deep residential lots that are increasingly attractive to builders and developers seeking severance and infill opportunities inside Toronto city limits. The area offers access to Highway 400, Highway 407, and Finch West, with the Finch West LRT extending light rail service further into the northwest corridor.
Demand drivers include large-lot scarcity in the 416, proximity to green space along the Humber River, and ongoing intensification pressure across north Toronto. The neighborhood remains predominantly low-rise residential, which supports custom-build and small-scale redevelopment strategies.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
No down-payment scenario produces positive monthly cash flow; even all-cash carry is estimated at -$63.86 per month
High leverage sensitivity: monthly bleed ranges from approximately -$9,407 at 20% down to -$64 at 100% cash
Estimated cap rate of -0.04% means the thesis depends on land value and redevelopment, not in-place income
Reported sqft of 102 in the data feed appears to be a data entry artifact and should be verified on site
Redevelopment, severance, or infill outcomes depend on municipal zoning, committee of adjustment, and conservation authority approvals that are not guaranteed
Estimated rent of $2,800 per month is sourced from widened comparables and may not reflect achievable rent for this specific configuration
Property tax shown as $0 in the data feed; buyers must verify actual municipal tax assessment