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Listed 18 days ago

29 Giltspur Drive

Glenfield-Jane Heights, Toronto

$888,000

Semi-Detached |Bungalow
3 | 2 | 3
About this home

Exceptional opportunity for investors or end-users seeking strong income potential with flexibility. This fully self-contained duplex features two separate apartments, each with its own private entrance, with an additional front entrance added to enhance functionality and privacy for the upper unit. The basement apartment also features a proper egress window and its own separate hydro meter.Both units were renovated prior to the current tenants taking occupancy, and the same tenants have remained since the renovations were completed - a true testament to the quality of the property and an excellent opportunity for investors seeking stable, reliable income. Current rents are at - or above - market value, providing immediate positive cash flow from day one.Recent updates completed by the owners include a new furnace and A/C unit, new driveway, updated eavestroughs and gutters, new basement oven, and new washing machine. The property also features renovated kitchens and bathrooms, laminate flooring, halogen pot lights, and shared laundry facilities.Tenants are responsible for their own hydro usage, with gas expenses split 60% for the upper unit and 40% for the basement apartment. Tenants also share responsibility for snow removal and lawn maintenance.A fantastic turnkey income property in a strong rental market with quality long-term tenants already in place.

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agent
Milad Momtaz Azad
(647) 510-8858
TypeSemi-Detached
StyleBungalow
Approx. AgeNot available
Size700-1100 sq. ft.
Property Tax$3,454
Lot Size31 ft x 115 ft
mls© NumberW13578886
Listed ByHARVEY KALLES REAL ESTATE LTD.

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

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What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$4,545
Property tax
$288
Heat allowance
$150
Housing costs
$4,983 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $177,600
25-yr amortization

Income needed

$153,000

gross annual household income

Payment at 4%
$3,737 / mo
Cash down
$177,600

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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