Does 1709 - 39 Roehampton Avenue, Toronto C10, ON work as a rental

The cost side is the same statement this site gives every listing: mortgage, land transfer tax, property tax, insurance priced off rebuild cost, every utility, and a maintenance reserve. This page adds what a tenancy costs on top, and then divides by a rent you supply. We hold no rents and we will not estimate one, so the rent field opens empty and every ratio built on it reads as absent until you fill it in. If you want the owner-occupier version of the same arithmetic, the cost of ownership calculator runs the identical engine with no tenant in it.

How this is underwrittenThe rent is yours, we hold and estimate none, and every ratio states what it excludes rather than assuming you know.

The rent is yours, and only yours. We hold no rents and we do not estimate one. Enter the figure and say where it came from, and the basis you picked is shown against every number computed from it. Leave it blank and the cost side still works, with every ratio reported as absent rather than as zero.
The cost side is the same statement the cost pages show. The mortgage, the property tax, the insurance, the utilities and the maintenance set-aside come from one engine, unchanged. This page adds what a tenancy costs on top and credits back the utilities a tenant pays, using that statement's own figures rather than a second estimate of them.
Every ratio says what it excludes. A cap rate ignores your mortgage. Cash on cash ignores the principal you repay. Break-even rent has no margin in it. Each of those is stated on the line rather than assumed to be understood, because the exclusion is where a reader's own arithmetic breaks.
Vacancy and turnover are costs, not caveats. Vacancy at 1.5% to 4.0% of gross rent, a leasing commission of 0.5 to 1 month of rent on each new tenancy, and $600 to $2,500 of paint and cleaning between tenants. Both of the last two are levelled over an assumed 36 month tenancy rather than charged every year.
The maintenance set-aside stops being optional. On a house you live in it is a recommendation. On a tenanted unit the repair obligation is statutory, cannot be contracted out of, and is enforceable by the tenant at the Board, so it is not a line to trim to make the total work.
Rent growth is capped unless you establish otherwise. The projection grows rent at no more than 2.5% a year unless you tell us the unit was first occupied after November 15 2018. Assuming the exemption is the assumption that flatters the outcome, so it is not the default.

Not modelled anywhere on this page: income tax and the deductibility of mortgage interest, capital gains on a sale, the commission and legal cost of selling, appreciation of any kind, and the value of your own time managing it. Nothing here is a quote, a projection you can rely on, or investment advice.

No rent supplied, so there is no read to give

No rent has been supplied for this property and there is none on the record, so there is nothing to divide by the $5,613 a month it costs to hold. We do not have a rent corpus and will not estimate one: a rent invented from floor area would be wrong by hundreds of dollars a month on a specific unit while reading as a fact, and every ratio on this page would inherit that error. Enter the rent from a lease, a comparable listing or your own read, and say which, and the arithmetic follows.

The rent

We do not hold rents and we will not estimate one. Every figure on this page is computed either from what you enter here or from a rent the listing itself states, and which of the two it was travels with each of them. Leave it blank on a listing that states no rent and the cost side still works: what is missing is the income, and the page says so rather than filling it in.

Gross monthly rent

Before vacancy, before any cost. What the lease says, or what you expect it to say.

Where that figure comes from

Shown against every ratio built on it. A lease in force and a hope are different facts.

What the rent includes

Decides which utility lines are yours. Worth more than the property tax line on a house with electric heat.

Who manages it

A fee on collected rent, or your evenings.

Does a tenant stay after closing

A tenancy binds the purchaser, including the rent and the date of the last lawful increase.

When was the unit first occupied

A unit first occupied after November 15 2018 is outside the guideline. This is the occupancy date, not the year it was built.

Vacancy

The month, in order

Rent first, then what never arrives, then what leaves. The last line is what the bank account does.

Gross rent: No rent
Vacancy allowance: No rent
Collected: No rent
Operating costs: -$1,629
Net operating income: No rent
Mortgage: -$3,984
Cash flow: No rent

The cost side, unchanged

The same statement the cost of ownership page produces for this house, from the same engine. Nothing on this page recomputes any of it.

MonthlyAnnual(12x)

Financing2 lines

$3,984/mo

$3,984

$47,805

Principal and interest at the rate and amortization below.

Mortgage principal and interestCalculated

$735,200 borrowed at 4.29% over 25 years, compounded semi-annually as Canadian lenders charge it. Principal is not a cost in the way the other lines are: it buys equity. It is here because it leaves the account every month regardless.

$3,984/mo

$3,984

$47,805

Mortgage insurance premiumCalculated

At 20% down or more the mortgage is uninsured, so there is no premium and no sales tax on one.

None

Property taxes2 lines

$435/mo

$435

$5,225

From the tax figure on the record, otherwise a seeded reference rate on the price.

Property taxStatutoryBilled annually

$5,225 for 2026, from the tax figure stated on the listing, divided by twelve. That is what the current owner pays, as the listing states it. The twelfth is a levelling and not a payment schedule, and next year's amount is not this one: ask the municipality for its own instalment dates and its current rate, because neither is set here and neither has been read out of any by-law.

$435/mo

$435

$5,225

Education portionStatutory

The province's education rate is inside the figure above, not on top of it. It is listed separately on the municipal bill and we do not receive it separately, so it is named here rather than shown as a second amount you would then add twice.

None

Insurance1 line

$39/mo

$15 to $62

$39

$15 to $62

$466

$184 to $748

Estimated from rebuild cost, not from the purchase price.

Condo unit insuranceTypical rangeBilled annually

Priced off rebuild cost, $102,000 to $187,000 at 850 square feet, not off the purchase price. An insurer covers the building, and on a large lot the land is most of what you paid. Excludes overland water and sewer backup endorsements, which are optional and are the two exclusions this build flags first. Nothing here counts how often either claim is made or what either endorsement costs. The rebuild band is a GTA figure and is the one input on this page that is not local to the address: rural construction is not reliably cheaper, because the trades travel to it, and we hold no county rebuild cost to say either way. The corporation insures the building and the standard unit; your policy covers contents, improvements, the deductible on the corporation's policy and your liability, which is why it costs a fraction of a freehold policy.

$39/mo

$15 to $62

$39

$15 to $62

$466

$184 to $748

Utilities4 lines

$323/mo

$242 to $403

$323

$242 to $403

$3,870

$2,903 to $4,838

Metered, so estimated from floor area, heating system and occupancy.

HydroTypical range

Lighting, appliances, water heating where it is electric, and air conditioning, at $55 a month plus 0.04 per square foot. Excludes heating unless the heating line below is electric. Time-of-use pricing moves this by more than the range if the household is home during the day.

$89/mo

$67 to $111

$89

$67 to $111

$1,068

$801 to $1,335

Natural gas heatingTypical range

Natural gas for space heating and hot water, at Enbridge's residential rate plus the delivery and carbon charges, scaled by floor area. Levelled across twelve months: the January bill on a 850 square foot house runs two to three times this, and July runs well under it.

$73/mo

$54 to $91

$73

$54 to $91

$870

$653 to $1,088

Water and sewerTypical rangeBilled quarterly

Metered, so it scales with occupancy rather than with floor area: $45 plus $12 per bedroom, on 3 bedrooms. Meant to cover any stormwater or infrastructure charge too, whether or not that arrives as a separate line on your account.

$81/mo

$61 to $101

$81

$61 to $101

$972

$729 to $1,215

InternetTypical rangeAvoidable

The one line that does not scale with the house: a 3,000 square foot home pays what a studio pays. Excludes television and mobile, and excludes the installation charge on a home that has never been connected to the provider you choose.

$80/mo

$60 to $100

$80

$60 to $100

$960

$720 to $1,200

Condo fees1 line

$642/mo

$642

$7,703

Set by the corporation. Contractual, and it changes at the AGM.

Condo maintenance feeContractual

Includes common elements included, building insurance included, parking included. Set by the corporation's budget and changed at the AGM, so it is exact today and not a forecast. A special assessment is separate and is not capped: the status certificate is where a reserve fund shortfall or a pending assessment is written down, and it is the reason a condo condition exists.

$642/mo

$642

$7,703

This property1 line

$0/mo

Lines this house creates that another house would not.

No pool, well, septic or groundsCalculated

Nothing in this property's facts creates a line another property of the same price would not have. That is a real finding rather than missing data: it is the cheapest kind of house to run.

None

Maintenance reserveNot a bill1 lineNot a bill. What to set aside so a repair is a cheque, not a loan.

$181/mo

$128 to $234

$181

$128 to $234

$2,168

$1,530 to $2,805

Recommended maintenance set-asideTypical range

Not a bill and nobody invoices you for it. 1.50% a year of a $102,000 to $187,000 rebuild cost, which works out at 0.24% of the purchase price rather than 1% of it. Taken against price the set-aside would exceed the mortgage payment on a property whose value is mostly land. This is what makes a roof a cheque instead of a loan. In a condominium the corporation's reserve fund covers the building, so this covers in-suite items only: appliances, flooring, the HVAC unit in the ceiling, and your share of a special assessment when the corporation's own fund falls short.

$181/mo

$128 to $234

$181

$128 to $234

$2,168

$1,530 to $2,805

To carry it as an owner$5,603/mo$5,446 to $5,760

What a tenant changes

Added to the statement above, not folded into it, so the two are still comparable. The utilities the tenant pays come off as a credit at the statement's own figures.

Rented dwelling policy, above a homeowner policyTypical rangeBilled annually

The statement above prices the policy an owner-occupier buys. A tenanted unit is written as a rental: landlord liability, loss of rental income, and no contents coverage for the tenant's belongings, which is the tenant's own policy to buy. This is 15% to 35% on top of $39. An insurer that finds out about the tenancy after a claim can decline it on the ground that the policy never covered the risk.

$10

$6 to $14

What the tenancy changes$10/mo$6 to $14

To carry it as a landlord$5,613/mo

The ratios, and what each one leaves out

None of these is the answer on its own. Each is printed with the thing it ignores, because the exclusion is where a reader's own arithmetic goes wrong.

Gross yieldCalculated

The figure a listing quotes when it quotes one, and it is not a cap rate. It is annual rent over price, and on a GTA condominium the operating costs alone take two thirds of it before the mortgage is paid. It is here so the number you will be shown elsewhere is next to the real one.

Excludes. Every cost. Vacancy, tax, insurance, condo fees, management, maintenance and the mortgage are all outside this number.

No rent

Net cap rate, on the purchase priceCalculated

Net operating income over price, where net operating income is the gross rent less every operating cost including the vacancy allowance and the maintenance set-aside. The same ratio computed without the set-aside reports a higher figure instead. We keep the set-aside in, because the roof on a tenanted unit fails on the same schedule as the roof on any other.

Excludes. The mortgage, deliberately: a cap rate measures the property rather than the financing, so two buyers with different down payments get the same figure. Also excludes income tax, land transfer tax and the rest of the closing cash.

Source: Net operating income over price, the appraisal convention

No rent

Net cap rate, on what it actually cost youCalculated

The same income over $958,537 rather than $919,000, because the closing costs bought the income too. This is the figure that is comparable to a return on any other asset, and it is the one nobody quotes, because it is lower.

Excludes. The mortgage, and income tax. Includes the land transfer tax, legal fees and the rest of the one-time cash, which the conventional figure above leaves out.

No rent

Cash on cash, year oneCalculated

Twelve months of cash flow over the $223,337 you put in, being $183,800 of down payment and $39,537 of closing costs. A negative figure here is the annual rate at which the property consumes your money, and it is the most honest single number on this page.

Excludes. Principal repayment, appreciation and income tax. Also excludes the one-time closing cash from the numerator, which is in the denominator instead, because it was spent once rather than every year.

No rent

Rent needed to break evenCalculated

The gross monthly rent at which cash flow is zero, solved rather than looked up: vacancy, management and the levelled leasing commission all scale with the rent, so the rent has to cover itself as well as the $5,613 of costs that do not move. It includes the full mortgage payment, so it is a cash break-even and not a break-even on the property.

Excludes. Any margin for error. At exactly this rent the property costs you nothing and pays you nothing, and the first unexpected repair puts it under.

$5,898

Debt service coverageCalculated

Net operating income over $47,805 of annual debt service. Below 1.00 the property does not cover its own mortgage out of operations and the shortfall comes from your income. Above 1.00 it covers it on these assumptions, which are this page's rather than a lender's, so a property can clear this line and still fail the lender's version of it. Ask the lender for the floor they apply and to what, the property or you.

Excludes. The lender's own assumptions, which are what actually decide the file. They apply their own vacancy and expense figures, count only a fraction of the rent, and may require a signed lease and filed statements before counting it at all. This build holds no figure for that fraction and no coverage floor: it has read no lender's or insurer's rental income policy.

Source: Not sourced. The ratio is arithmetic on the figures above it. No lender's or mortgage insurer's rental income policy has been read here, so this holds no fraction, no coverage floor and no rental offset from one.

No rent

Principal repaid in year oneCalculated

Of the $47,805 that leaves the account for the mortgage this year, $16,869 buys down the balance and the rest is interest. It is reported separately rather than added to cash flow, because a negative cash flow offset by principal repayment is still a cheque you write every month.

Excludes. Any way to spend it. This is equity, not cash: reaching it means selling, with the commission and the tax that involves, or borrowing against it and paying interest on it.

$16,869

Year it turns positiveCalculated

On 2.5% rent growth, 3.0% cost growth and a renewal at 4.29%, this does not reach positive cash flow within 10 years. The gap does narrow, and the cumulative shortfall over that period is the real cost of holding it.

Excludes. Everything that happens in between. It assumes the tenant stays, the rent rises every single year, nothing large breaks, and the mortgage renews at the rate below rather than at whatever the market is that month.

No rent

Principal repaid in the first twelve months: $16,869. That is equity rather than cash, it is not spendable until a sale or a refinance, and no ratio above includes it.

The years ahead

No rent has been supplied, so there is no income to project. The cost side above is complete: what is missing is the only input we will not supply ourselves.

The Ontario rules that decide this

These are not caveats on the arithmetic above. Each one can change the answer by more than every assumption on this page put together.

The rent increase guideline is a ceiling, not a target

On a unit the guideline applies to, a landlord may raise the rent once every twelve months, on ninety days written notice using the prescribed form, and by no more than the guideline the province publishes for that calendar year. This app caps that guideline at 2.5% a year. The 2.5% is this build's own figure and carries no citation: the Act named below has not been read here, and nothing in this row reports the terms of any document. Anything above the guideline requires an above-guideline increase application to the Landlord and Tenant Board, which is available for capital expenditures, a municipal tax increase or added security services, and is decided rather than granted.

What it decides. The rent-growth assumption in any projection of a guideline unit is held at or below 2.5% a year, which is this build's own ceiling and not a figure read off anything. Nothing here reads the guideline the province published for any past year, so no history sits behind it either. A model that grows rent at 4% or 5% on such a unit is not optimistic, it is describing a different property.

Residential Tenancies Act, 2006, ss. 116, 119, 120, 126; O. Reg. 516/06

November 15 2018 is the date the guideline turns on

A rental unit in a building that was not occupied for any purpose before November 15 2018, and certain additions and conversions first occupied for residential purposes after that date, are exempt from the guideline. The rest of the tenancy is unchanged: the twelve month interval between increases and the ninety day notice on the prescribed form still apply, and the tenant can still dispute the increase at the Board.

What it decides. The test is the date the unit was first occupied, not the year the building was built and not the start of the current tenancy. On a new condominium the declarant is the party who knows that date and a listing rarely states it. Ask, and get the answer in writing, because it is the single fact that decides whether the income is a market figure or a controlled one.

O. Reg. 516/06, s. 6.1; Residential Tenancies Act, 2006, s. 120

Market rent arrives when the unit turns over, lawfully

Ontario controls the increase within a tenancy and not the rent charged to a new tenant, so a landlord and a new tenant may agree on any rent when the unit is genuinely vacant. Ending a tenancy to reach that rent is a different matter: notice for the landlord's own use, for a purchaser's own use or for major repairs each has its own grounds, its own compensation and its own remedies if it is given in bad faith, including an application by the former tenant within two years.

What it decides. The gap between an in-place rent and a market rent is not a plan. It is realised when the tenant leaves of their own accord, on their timetable, and underwriting it as though it arrives on closing is the most expensive mistake available on a tenanted purchase.

Residential Tenancies Act, 2006, ss. 48, 49, 55.1, 57, 113

A tenant who stops paying stops paying, and the mortgage does not

Non-payment starts with a notice giving the tenant fourteen days to pay, then an application to the Landlord and Tenant Board, then a hearing, then an order, then enforcement by the Court Enforcement Office, which is the only body that may remove a tenant. A landlord may not change the locks or remove possessions. The tenant may void the order at any point before it is enforced by paying the arrears and costs, after which the tenancy continues and the next default starts the process again. The Board's scheduling has run months behind its own service standards, which the Ontario Ombudsman investigated and reported on in 2023.

What it decides. Budget for the possibility of paying every carrying cost on this property with no rent arriving for several months, and treat the arrears as a debt you then have to collect rather than as income deferred. No ratio on this page survives that scenario, which is why none of them is a plan on its own.

Residential Tenancies Act, 2006, ss. 39, 59, 74; Ombudsman Ontario investigation into the Landlord and Tenant Board, 2023

The maintenance reserve stops being a recommendation

A landlord must keep the unit and the complex in a good state of repair, fit for habitation, and in compliance with health, safety, housing and maintenance standards, whether or not the tenant was aware of the condition before moving in. The obligation cannot be contracted out of, a lease term that tries to is void, and a tenant can apply to the Board for an order including a rent abatement and an order requiring the work to be done.

What it decides. On the cost statement below, the maintenance set-aside is described as a recommendation rather than a bill, which is true of a house you live in. On a tenanted unit it is the cost of a statutory duty enforceable by the tenant, so it is not a line to trim to make the arithmetic work. A furnace that fails in January is an emergency repair with a deadline set by somebody else.

Residential Tenancies Act, 2006, ss. 4, 20, 22, 29, 30

Buying tenanted means buying the tenancy

A tenancy runs with the unit. The purchaser becomes the landlord on closing, bound by the existing lease, the existing rent and the existing rent history. A purchaser who requires the unit for their own residential occupation or that of immediate family can have the seller give notice for a purchaser's own use: sixty days ending on the last day of a rental period, one month of rent as compensation, an undertaking that the purchaser will occupy for at least a year, and no guarantee the tenant leaves on the date. If they do not, it is an application to the Board and then the Sheriff.

What it decides. Vacant possession on closing is not something a seller can promise with certainty on a tenanted unit, whatever the agreement says. The closing date and the end of the tenancy are two separate timetables, and only one of them is under anyone's control. If you intend to live there, resolve this before the deposit, not after.

Residential Tenancies Act, 2006, ss. 18, 48, 49, 55.1, 57, 72

A property nobody lives in needs 20% down

Mortgage insurance is understood here to be available only where the borrower or an immediate family member occupies one of the units, so this app treats a purely tenanted purchase as uninsurable. That understanding is not a reading of anything: the insurers' occupancy requirements have not been read here, and no rate sheet has been seen here either. Without insurance the loan is conventional, which this app prices at 20% down. The 20% is this build's own figure and carries no citation. Whether a rental is priced above an owner-occupied mortgage, and by how much, is not something this build holds a figure for at all.

What it decides. The down payment control on the cost pages goes down to a 5% floor, because those pages are built for somebody who will live there. That 5% and this 20% are both this build's own figures. On a rental the floor here is 20%, and every figure computed below a 20% down payment describes a mortgage no lender in this country will write.

National Housing Act; CMHC, Sagen and Canada Guaranty owner-occupancy requirements

The lender counts the rent differently than you do

Lenders do not credit gross rent. Depending on the lender and the insurer it is either added back at a discount or offset against the property's own costs at some fraction, some require a signed lease and filed statements before they will count it at all, and some apply a debt service coverage floor on the property itself. This build holds no figure for any of those. No lender's or mortgage insurer's rental income policy has been read here, so a fraction printed on this page would be an invention. Ask for the fraction rather than assume one.

What it decides. A property that carries itself on this page can still fail the lender's own arithmetic, because their vacancy and expense assumptions are theirs rather than these. Get the treatment confirmed by the specific lender before the financing condition, since the answer differs between two lenders looking at the same lease.

OSFI Guideline B-20; lender and mortgage insurer rental income policies

Turning a home you live in into a rental is a taxable event

Changing a property from a principal residence to an income-producing one is a deemed disposition at fair market value on the date of the change, which can crystallize a capital gain even though nothing was sold and no money changed hands. An election is available in some circumstances to defer that treatment, with its own conditions and its own consequences for the principal residence exemption. Rental income is taxable in the year it is earned, and the interest portion of the mortgage is generally deductible against it while the principal portion is not.

What it decides. Every figure on this page is before income tax, and the tax treatment is not a rounding difference on a property you have lived in. This is the point at which an accountant is cheaper than the alternative.

Income Tax Act (Canada), ss. 45(1), 45(2), 54

These are the rules as they stand, with the section that creates each one, so they can be checked. They are not legal advice and they are not a substitute for reading the lease, the agreement of purchase and sale, or having a lawyer read either. A tenancy is the one part of a purchase where the standard form and the statute disagree often enough that the statute is the only thing worth planning around.

Your numbers

Down payment20% · $183,800

At 20% or more the mortgage is uninsured, so there is no premium and no sales tax on one.

Rate4.29%

Move this to your held rate. Every financing figure and the sensitivity below are recomputed against it.

Amortization

Maintenance set-aside

The set-aside is a percentage of what the building costs to rebuild, not of the purchase price. Taken against the price it would exceed the mortgage payment on a property whose value is mostly land.

The projection

Rent growth

Capped at the guideline maximum unless the unit is established as exempt. -10% to 25% a year.

Cost growth

Property tax, insurance and the condominium fee do not hold still either. 0% to 25% a year.

Renewal rate

What the mortgage renews at after 5 years. The single assumption that moves the later years most. 0% to 25%.

Years to project

Ten by default. 1 to 30 years.

Assumptions

Rate: 4.29%
Down payment: 20.0%
Amortization: 25 years
Vacancy: 2.75% of gross rent
Management: Yours
Rent growth: 2.50% a year
Cost growth: 3.00% a year
Renewal: 4.29% after 5 years
As of: Aug 14, 2026

Income tax is not modelled, in either direction: not the tax on the rent and not the deduction for the mortgage interest. Neither is appreciation, and neither is the cost of selling.

Read the figures with these

No rent was supplied and the record states none, so the yield, the cap rate, the break-even and the projection are all absent rather than estimated. The cost side is complete and is the same statement the true-cost page shows.
Whether the annual guideline binds this unit has not been established. The test is the date the unit was first occupied for residential purposes, and the projection treats it as controlled until you say otherwise, because assuming the exemption is the assumption that flatters the outcome.
Whether a tenant stays after closing has not been established, and silence on a listing is not evidence the unit is empty. A tenancy binds the purchaser, including the current rent and the date of the last lawful increase, so this changes both the income and whether you can move in.
The one-time list excludes the down payment of $183,800, which is equity rather than a cost, and excludes the closing statement's cash cushion, because the maintenance set-aside above already holds one. Cash to close, with the down payment in it, is $237,122.
Do not waive a condo condition without a lawyer's review of the status certificate. Reserve fund shortfalls and pending special assessments are found nowhere else.
Closing costs come to 4.3% of the price here, well above the 1.5% to 4% a buyer usually plans for. Read the itemization before you set your budget.

Estimates, not quotes, and not investment or legal advice. Ranges are GTA market bands and the single figure inside one is its midpoint. Nothing typed here is stored: reload the page and it opens on the defaults again unless the numbers are in the link.