1502- 38 Lee Centre Drive, Toronto E09
Toronto E09
$405,000
Cash flow, cap rate & mortgage breakdown
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Listed by RE/MAX REALTRON REALTY INC.
Investment Analysis
Key Facts
Type
Condo Apartment
Bedrooms
2
Bathrooms
1
Days on Market
50
Price Drop
9%
Year Built
N/A
Status
Active
Basement Income
None Detected
Rent Estimate
$1,850/mo
Estimated from market price-to-rent ratios
Remarks
Lovely Ellipse Tower 2 Condo! Experience urban convenience and modern comfort in this absolutely gorgeous, well-maintained 1 Bedroom + Den suite. Boasting a functional layout flooded with natural light and laminate flooring throughout, a sleek quartz kitchen countertop & backsplash. The versatile den is a true bonus, spacious enough to serve as a functional second bedroom or a quiet home office. Enjoy your morning coffee against the backdrop of a beautiful, unobstructed clear view that offers total privacy and a sense of space. ALSO INCLUDED ARE UNIT 100, LEVEL B, UNIT 144, LEVEL B, TORONTO STANDARD CONDOMINIUM PLAN NO. 1650
MississaugaInvestor.ca
1502- 38 Lee Centre Drive
Condo Apartment · 2bd/1ba · ~650 sqft
$405,000
Cash-Flow Report · July 31, 2026
Cap Rate
1.58%
Monthly Cash Flow
-$1,333/mo
Estimated Rent
$1,850/mo
Cash-on-Cash
-18.06%
Monthly (20% down · 4.89% rate · 25yr)
| Gross Rent | +$1,850 |
| Mortgage | −$1,864 |
| Property Tax | −$321 |
| Insurance | −$225 |
| Condo Fee | −$680 |
| Vacancy (5%) | −$93 |
| Cash Flow | -$1,333/mo |
Annual NOI & Cap Rate (All-Cash)
| Gross Rent | +$22,200 |
| Vacancy (5%) | −$1,110 |
| Property Tax | −$3,848 |
| Insurance | −$2,700 |
| Condo Fee | −$8,160 |
| Annual NOI | $6,382 |
| Cap Rate | 1.58% |
Cash Required to Close
| Down Payment (20%) | $81,000 |
| Ontario Land Transfer Tax | $4,575 |
| Legal & Title Insurance | $2,500 |
| Inspection & Misc | $500 |
| Total Cash Required | $88,575 |
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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