408- 8 Covington Road, Toronto C04
Toronto C04
$899,000
Cash flow, cap rate & mortgage breakdown
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Listed by SOLID ROCK REALTY
Investment Analysis
Key Facts
Type
Condo Apartment
Bedrooms
2
Bathrooms
3
Days on Market
61
Price Drop
5%
Year Built
N/A
Status
Active
Basement Income
None Detected
Rent Estimate
$2,350/mo
Estimated from market price-to-rent ratios
Remarks
RARELY OFFERED! One of the largest layouts in the building! Beautifully renovated contractor's own home featuring high-end finishes and high-quality motorized blinds, and each is double for blackout custom blinds. Enjoy an open-concept kitchen, full laundry room, 2.5 bathrooms, and approximately 1,360 sq. ft. of living space. Hardwood flooring throughout the entire apartment, with a walk-out to a beautiful balcony. The primary bedroom offers a generous walk-in closet and a private ensuite bathroom. The second bedroom is spacious and bright, complemented by a full family bathroom and a convenient guest powder room. Includes 1 parking space and 2 lockers. Ideally located within walking distance to shops, the library, public transit, and parks.
MississaugaInvestor.ca
408- 8 Covington Road
Condo Apartment · 2bd/3ba · ~1,300 sqft
$899,000
Cash-Flow Report · August 4, 2026
Cap Rate
0.21%
Monthly Cash Flow
-$3,979/mo
Estimated Rent
$2,350/mo
Cash-on-Cash
-24.21%
Monthly (20% down · 4.89% rate · 25yr)
| Gross Rent | +$2,350 |
| Mortgage | −$4,138 |
| Property Tax | −$712 |
| Insurance | −$225 |
| Condo Fee | −$1,136 |
| Vacancy (5%) | −$118 |
| Cash Flow | -$3,979/mo |
Annual NOI & Cap Rate (All-Cash)
| Gross Rent | +$28,200 |
| Vacancy (5%) | −$1,410 |
| Property Tax | −$8,541 |
| Insurance | −$2,700 |
| Condo Fee | −$13,632 |
| Annual NOI | $1,917 |
| Cap Rate | 0.21% |
Cash Required to Close
| Down Payment (20%) | $179,800 |
| Ontario Land Transfer Tax | $14,455 |
| Legal & Title Insurance | $2,500 |
| Inspection & Misc | $500 |
| Total Cash Required | $197,255 |
Assumptions: 20% down · 4.89% rate · 25yr amort · Canadian semi-annual compounding · $225/mo insurance · maintenance reserve = greater of 8% of rent or 1% of value/yr (condo fee replaces it) · 5% vacancy · rent estimated from neighbourhood MLS comps. All figures are estimates — verify with a licensed professional before making an investment decision.
Prepared by Hamza Nouman · RECO-registered Investor Specialist · 647-609-1289 · hamza@nouman.ca · MississaugaInvestor.ca
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