282-292 Elgin Mills Road, Richmond Hill
Richmond Hill
$5,600,000
Cash flow, cap rate & mortgage breakdown
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Listed by KW Living Realty
Investment Analysis
Key Facts
Type
Detached
Bedrooms
5
Bathrooms
4
Days on Market
15
Price Drop
None
Year Built
N/A
Status
Active
Basement Income
Finished Basement
Rent Estimate
$8,800/mo
Estimated from market price-to-rent ratios
Remarks
Rare opportunity to acquire a fully approved 15-unit townhouse development in the highly desirable Yonge & Elgin Mills corridor in Richmond Hill. This project features Zoning By-law Amendment (ZBA) and Site Plan Approval (SPA) in place, significantly reducing entitlement risk and saving 3 to 4 years of planning timeline for the buyer. The development consists of 15 large-format 3-storey POTL townhomes (9 three-bedroom and 6 four-bedroom units) with attached garages, private outdoor spaces, and roof terraces. Total buildable area is approximately 41,335 sq ft. Located in a premium infill location with strong end-user demand, the site benefits from proximity to Yonge Street transit, top-rated schools, parks, and major amenities. Existing properties on site generate rental income during holding period. Ideal for mid-sized builders, developers, or investors seeking a shovel-ready project in a supply-constrained market.
MississaugaInvestor.ca
282-292 Elgin Mills Road
Detached · 5bd/4ba · ~5,000 sqft
$5,600,000
Cash-Flow Report · July 31, 2026
Cap Rate
0.02%
Monthly Cash Flow
-$25,668/mo
Estimated Rent
$8,800/mo
Cash-on-Cash
-24.65%
Monthly (20% down · 4.89% rate · 25yr)
| Gross Rent | +$8,800 |
| Mortgage | −$25,776 |
| Property Tax | −$3,360 |
| Insurance | −$225 |
| Maintenance (1% of value/yr) | −$4,667 |
| Vacancy (5%) | −$440 |
| Cash Flow | -$25,668/mo |
Annual NOI & Cap Rate (All-Cash)
| Gross Rent | +$105,600 |
| Vacancy (5%) | −$5,280 |
| Property Tax | −$40,320 |
| Insurance | −$2,700 |
| Maintenance (1% of value/yr) | −$56,000 |
| Annual NOI | $1,300 |
| Cap Rate | 0.02% |
Cash Required to Close
| Down Payment (20%) | $1,120,000 |
| Ontario Land Transfer Tax | $126,475 |
| Legal & Title Insurance | $2,500 |
| Inspection & Misc | $500 |
| Total Cash Required | $1,249,475 |
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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