
261 Morning Star Drive, Vaughan
Vaughan
$1,399,900
Cash flow, cap rate & mortgage breakdown
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Listed by RE/MAX PREMIER INC.
Investment Analysis
Key Facts
Type
Detached
Bedrooms
6
Bathrooms
4
Days on Market
18
Price Drop
None
Year Built
N/A
Status
Active
Basement Income
Suite Potential (+$1,445/mo)
Rent Estimate
Estimated from market price-to-rent ratios · Verify suite legality with the City of Mississauga
Remarks
Welcome to 261 Morning Star Drive in desirable West Woodbridge! This spacious home offers 2,784 sq. ft. (MPAC) on a nearly 50 ft. lot. Lovingly maintained by its original family, this is a rare opportunity for the next generation to make it their own.Ideal for growing or multi-generational living, the home features a side entrance to the garage leading to a separate service staircase to the basement, plus a second side entrance to the main floor between the mudroom and powder room, offering excellent potential for extended living or future rental income.The functional layout features an expansive living and dining room, a huge eat-in kitchen with granite countertops and a large breakfast area overlooking the backyard, plus a welcoming family room with a wood-burning fireplace (parquet flooring beneath the carpet). Elegant spiral oak staircases, a wrought iron front door insert, and main floor laundry add to the appeal. The finished basement offers a spacious recreation room with a gas fireplace, den, bedroom with a semi-ensuite, separate laundry area, and a huge cantina/cold room. A fully enclosed double garage with a large mezzanine provides exceptional storage.Enjoy no rear neighbours, backing onto San Marco Catholic Elementary School and Morning Star Park. The original owner worked for the builder and incorporated custom brickwork in the basement, showcasing quality craftsmanship. Outside, enjoy a beautifully landscaped front yard with an expansive interlock sitting area, extensive rear interlock patio, a deep private yard, and a large storage shed.Recent updates include Roof(appr.2020), Furnace (2026), newer sod, fence(2025) and an asphalt driveway(2026) with parking for three vehicles side-by-side.Ideally located minutes to the 427 extension at Langstaff Rd, Hwy. 407, Fortinos, Costco, Walmart, Shoppers, doctors' offices, restaurants, schools, parks, community centres & transit. A well-loved home offering incredible space, flexibility & endless potential!
MississaugaInvestor.ca
261 Morning Star Drive
Detached · 6bd/4ba · ~2,750 sqft
$1,399,900
Cash-Flow Report · July 31, 2026
Cap Rate
2.71%
Monthly Cash Flow
-$3,278/mo
Estimated Rent
$5,695/mo
Cash-on-Cash
-12.79%
Monthly (20% down · 4.89% rate · 25yr)
| Gross Rent | +$5,695 |
| Mortgage | −$6,444 |
| Property Tax | −$852 |
| Insurance | −$225 |
| Maintenance (1% of value/yr) | −$1,167 |
| Vacancy (5%) | −$285 |
| Cash Flow | -$3,278/mo |
Annual NOI & Cap Rate (All-Cash)
| Gross Rent | +$68,340 |
| Vacancy (5%) | −$3,417 |
| Property Tax | −$10,219 |
| Insurance | −$2,700 |
| Maintenance (1% of value/yr) | −$13,999 |
| Annual NOI | $38,005 |
| Cap Rate | 2.71% |
Cash Required to Close
| Down Payment (20%) | $279,980 |
| Ontario Land Transfer Tax | $24,473 |
| Legal & Title Insurance | $2,500 |
| Inspection & Misc | $500 |
| Total Cash Required | $307,453 |
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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