28- 6777 Formentera Avenue, Mississauga
Meadowvale · Investor guide
$575,000
Estimated Value
$626,000
Based on neighbourhood averages
Cash flow, cap rate & mortgage breakdown
Enter your email to unlock them right here.
Free forever. No credit card. Unsubscribe anytime.
Listed by ROYAL LEPAGE SIGNATURE REALTY
Investment Analysis
Key Facts
Type
Condo Townhouse
Bedrooms
3
Bathrooms
1
Days on Market
15
Price Drop
None
Year Built
N/A
Status
Active
Basement Income
None Detected
Rent Estimate
$3,100/mo
Based on Meadowvale neighbourhood rental data for 3-bed Condo Townhouse
Remarks
Updated 2026: new kitchen, updated bathroom, freshly painted. Low maintenance fee includes Rogers VIP cable, internet, water and parking. 3-bedroom upper unit in Meadowvale's Formentera community Updated in 2026 with a kitchen makeover, refreshed bathroom and fresh paint throughout. Combined living/dining walks out to a private open balcony. Three genuine bedrooms, primary and second both with walk-in closets plus a 4-piece bath semi ensuite and ensuite laundry. Two parking spaces (attached garage plus private drive), a real rarity at this price. The low monthly fee covers Rogers VIP cable, high-speed internet, water, parking and common elements, keeping carrying costs low and predictable. Walk to Meadowvale Town Centre (grocery, pharmacy, Canadian Tire, dining), Lake Aquitaine parks and trails, and the Meadowvale Community Centre with indoor pool, gym and library. Steps to MiWay transit and Meadowvale GO (express to Union and York U); fast access to Hwy 401, 403 and 407. Suited to growing families, first-time buyers and investors.
MississaugaInvestor.ca
28- 6777 Formentera Avenue
Condo Townhouse · 3bd/1ba · ~1,100 sqft
$575,000
Cash-Flow Report · July 31, 2026
Cap Rate
3.68%
Monthly Cash Flow
-$886/mo
Estimated Rent
$3,100/mo
Cash-on-Cash
-8.44%
Monthly (20% down · 4.89% rate · 25yr)
| Gross Rent | +$3,100 |
| Mortgage | −$2,647 |
| Property Tax | −$403 |
| Insurance | −$225 |
| Condo Fee | −$556 |
| Vacancy (5%) | −$155 |
| Cash Flow | -$886/mo |
Annual NOI & Cap Rate (All-Cash)
| Gross Rent | +$37,200 |
| Vacancy (5%) | −$1,860 |
| Property Tax | −$4,830 |
| Insurance | −$2,700 |
| Condo Fee | −$6,672 |
| Annual NOI | $21,138 |
| Cap Rate | 3.68% |
Cash Required to Close
| Down Payment (20%) | $115,000 |
| Ontario Land Transfer Tax | $7,975 |
| Legal & Title Insurance | $2,500 |
| Inspection & Misc | $500 |
| Total Cash Required | $125,975 |
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
Get the Full Cash-Flow Report
A one-page PDF: cap rate, cash flow, mortgage breakdown, NOI and total cash to close — all assumptions in one printable summary.
Also unlocks cap rate, sold comps & mortgage detail.