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New2 hours ago

190 Major Street

University, Toronto

$1,590,000

Detached|2-Storey
6 | 3 | 0
About this home

Exceptional investment opportunity in the heart of Harbord Village, steps from the University of Toronto's downtown campus! This detached home offers 8 bedrooms, 3 kitchens and a bathroom on every level: 3 bedrooms on the main floor, 3 on the second floor and 2 in the finished basement with a separate entrance. Potential gross rental income of $7,600/month ($91,200/year) offers strong income potential and the opportunity for an attractive cap rate, depending on purchase price and operating expenses. Rental breakdown: $3,000 for the main floor, $3,000 for the second floor and $1,600 for the basement. The main and second floors are currently vacant, while the basement is tenanted. Vacant possession of the entire property can be provided, giving buyers the flexibility to select their own tenants. An exceptional location for student rentals, within walking distance of numerous U of T departments and campus facilities, offering the convenience of living steps from campus. Close to transit, restaurants, cafés, shops, Kensington Market and Bloor Street. A compelling opportunity to establish your own rental strategy in a sought-after downtown university neighbourhood!

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agent
Macallum Tepsich
(647) 326-2579
TypeDetached
Style2-Storey
Approx. AgeNot available
Size1100-1500 sq. ft.
Property Tax$8,524
Lot Size19 ft x 120 ft
mls© NumberC14090034
Listed ByFIRST CLASS REALTY INC.

Listing History

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

Schools

Could you afford this home?

What the bank counts

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

Mortgage, tested at 6%
$8,138
Property tax
$710
Heat allowance
$150
Housing costs
$8,999 / mo

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

Down payment20% · $318,000
25-yr amortization

Income needed

$277,000

gross annual household income

Payment at 4%
$6,691 / mo
Cash down
$318,000

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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