429- 2 David Eyer Drive, Richmond Hill
Richmond Hill
$688,800
Cash flow, cap rate & mortgage breakdown
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Listed by 168 REAL ESTATES INC.
Investment Analysis
Key Facts
Type
Condo Apartment
Bedrooms
3
Bathrooms
2
Days on Market
2
Price Drop
None
Year Built
N/A
Status
Active
Basement Income
None Detected
Rent Estimate
$2,750/mo
Estimated from market price-to-rent ratios
Remarks
Welcome to NEXT2, where luxury meets contemporary living in the heart of Richmond Hill. This brand-new 2-bedroom + den, 2-bathroom residence offers 928 sq. ft. of beautifully designed interior space plus a 155 sq. ft. private balcony, featuring a bright open-concept layout with floor-to-ceiling windows, a versatile den ideal for a home office, designer kitchen with built-in appliances, quartz countertops, premium finishes, and a spacious primary suite with ensuite bath. Enjoy an exceptional collection of resort-inspired amenities including a grand lobby, outdoor terrace, party room, private dining room, theatre, fitness centre, yoga studio, business lounge, music room, children's playroom, and pet wash station. Ideally located just minutes to Costco, Home Depot, top-rated restaurants, shopping, parks, transit, and major highways. Includes 1 parking space and 1 locker. A rare opportunity to own a luxurious brand-new home in one of Richmond Hill's most sought-after communities. ***Photos are virtually staged***
MississaugaInvestor.ca
429- 2 David Eyer Drive
Condo Apartment · 3bd/2ba · ~950 sqft
$688,800
Cash-Flow Report · August 1, 2026
Cap Rate
2.1%
Monthly Cash Flow
-$1,967/mo
Estimated Rent
$2,750/mo
Cash-on-Cash
-15.63%
Monthly (20% down · 4.89% rate · 25yr)
| Gross Rent | +$2,750 |
| Mortgage | −$3,170 |
| Property Tax | −$413 |
| Insurance | −$225 |
| Condo Fee | −$771 |
| Vacancy (5%) | −$138 |
| Cash Flow | -$1,967/mo |
Annual NOI & Cap Rate (All-Cash)
| Gross Rent | +$33,000 |
| Vacancy (5%) | −$1,650 |
| Property Tax | −$4,959 |
| Insurance | −$2,700 |
| Condo Fee | −$9,252 |
| Annual NOI | $14,439 |
| Cap Rate | 2.1% |
Cash Required to Close
| Down Payment (20%) | $137,760 |
| Ontario Land Transfer Tax | $10,251 |
| Legal & Title Insurance | $2,500 |
| Inspection & Misc | $500 |
| Total Cash Required | $151,011 |
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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