
404- 4850 Glen Erin Drive, Mississauga
Central Erin Mills · Investor guide
$635,000
Estimated Value
$530,000
Based on neighbourhood averages
Cash flow, cap rate & mortgage breakdown
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Listed by CITYSCAPE REAL ESTATE LTD.
Investment Analysis
Key Facts
Type
Condo Apartment
Bedrooms
2
Bathrooms
2
Days on Market
21
Price Drop
None
Year Built
N/A
Status
Active
Basement Income
None Detected
Rent Estimate
$2,650/mo
Based on Central Erin Mills neighbourhood rental data for 2-bed Condo Apartment
Remarks
Experience elevated condo living at Papillon Place, located in the highly sought-after Central Erin Mills community of Mississauga. This rarely offered, sun-filled 4th-floor corner end-unit stands out as one of the building's larger and most desirable floor plans, boasting a bright, open-concept layout anchored by durable laminated floors. The inviting living and dining space flows seamlessly to a private balcony with unobstructed southeast exposure of green space and the city view, flooding the home with natural light. A modern kitchen is beautifully equipped with premium granite countertops, stainless steel appliances, and ample cabinetry, while the thoughtfully designed layout offers two spacious bedrooms, including a primary retreat featuring exclusive ensuite access. Offering unparalleled value for families, professionals, downsizers, and investors alike, this move-in-ready suite includes the rare, highly coveted bonus of two parking spaces and a dedicated storage locker.Residents enjoy access to impressive amenities offering collection of lifestyle-enhancing facilities, including a 24-hour concierge, gated security, indoor pool, hot tub, sauna, fitness center, party and billiards room. Ideally located directly across from Erin Mills Town Centre and just minutes to Credit Valley Hospital, this exceptional condo is situated within one of Mississauga's top-rated public school districts like John Fraser And St. Aloysius Gonzaga School Area. It offers convenient access to GO Transit, public transit, parks, restaurants, and Highway 403. A perfect opportunity for families, professionals and downsizers seeking a premium lifestyle in one of Mississauga's most sought-after communities.
MississaugaInvestor.ca
404- 4850 Glen Erin Drive
Condo Apartment · 2bd/2ba · ~950 sqft
$635,000
Cash-Flow Report · July 31, 2026
Cap Rate
1.71%
Monthly Cash Flow
-$2,018/mo
Estimated Rent
$2,650/mo
Cash-on-Cash
-17.4%
Monthly (20% down · 4.89% rate · 25yr)
| Gross Rent | +$2,650 |
| Mortgage | −$2,923 |
| Property Tax | −$445 |
| Insurance | −$225 |
| Condo Fee | −$942 |
| Vacancy (5%) | −$133 |
| Cash Flow | -$2,018/mo |
Annual NOI & Cap Rate (All-Cash)
| Gross Rent | +$31,800 |
| Vacancy (5%) | −$1,590 |
| Property Tax | −$5,334 |
| Insurance | −$2,700 |
| Condo Fee | −$11,304 |
| Annual NOI | $10,872 |
| Cap Rate | 1.71% |
Cash Required to Close
| Down Payment (20%) | $127,000 |
| Ontario Land Transfer Tax | $9,175 |
| Legal & Title Insurance | $2,500 |
| Inspection & Misc | $500 |
| Total Cash Required | $139,175 |
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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