338 Steeles Avenue, Markham
Markham
$2,899,000
Cash flow, cap rate & mortgage breakdown
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Listed by AIMHOME REALTY INC.
Investment Analysis
Key Facts
Type
Detached
Bedrooms
5
Bathrooms
5
Days on Market
1
Price Drop
None
Year Built
N/A
Status
Active
Basement Income
None Detected
Rent Estimate
$6,000/mo
Estimated from market price-to-rent ratios
Remarks
Prime Development Opportunity! Huge 121' x 150' lot in prestigious Bayview Glen. Renovated home with approx. 3100 sq.ft. above ground. Adjacent property (344 Steeles Ave E) also available, for a combined 242' x 150' parcel. Neighbouring lots at 330 & 336 Steeles Ave E have been approved for 17 double-car garage townhomes***exceptional redevelopment potential***
MississaugaInvestor.ca
338 Steeles Avenue
Detached · 5bd/5ba · ~3,250 sqft
$2,899,000
Cash-Flow Report · August 1, 2026
Cap Rate
0.59%
Monthly Cash Flow
-$11,928/mo
Estimated Rent
$6,000/mo
Cash-on-Cash
-22.3%
Monthly (20% down · 4.89% rate · 25yr)
| Gross Rent | +$6,000 |
| Mortgage | −$13,344 |
| Property Tax | −$1,643 |
| Insurance | −$225 |
| Maintenance (1% of value/yr) | −$2,416 |
| Vacancy (5%) | −$300 |
| Cash Flow | -$11,928/mo |
Annual NOI & Cap Rate (All-Cash)
| Gross Rent | +$72,000 |
| Vacancy (5%) | −$3,600 |
| Property Tax | −$19,713 |
| Insurance | −$2,700 |
| Maintenance (1% of value/yr) | −$28,990 |
| Annual NOI | $16,997 |
| Cap Rate | 0.59% |
Cash Required to Close
| Down Payment (20%) | $579,800 |
| Ontario Land Transfer Tax | $58,950 |
| Legal & Title Insurance | $2,500 |
| Inspection & Misc | $500 |
| Total Cash Required | $641,750 |
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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