Published 2 November 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
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A Queensway condo rarely cash flows in 2027 with 20% down. Using a $525,000 purchase (the W08 median) and $2,500 rent, my example comes out about $740 a month negative at a 4.5% mortgage rate. Rough gross yields run about 4.5% to 6.5%. It works best as a long hold with a large down payment.
This guide is for investors weighing a condo on The Queensway in Etobicoke in 2027. You will see what units cost, what they rent for, a full cash flow example you can change to fit your own numbers, and the rules and risks that decide whether the investment works.
How much does a Queensway investment condo cost in 2027?
The Queensway runs through two TRREB districts: W07 (Stonegate-Queensway) at the east end and W08 (Islington-City Centre West) at the west end. W08 also includes the towers near Kipling and Islington stations.
| District | Median 2025 | Median 2026 | Change | Sales 2026 | Avg days on market |
|---|---|---|---|---|---|
| W07 Stonegate-Queensway | $615,000 | $584,000 | -5.0% | 41 | 36 |
| W08 Islington-City Centre West | $575,000 | $525,000 | -8.7% | 507 | 38 |
Source: TRREB MLS data via REALM, January to October 2026 vs the same period of 2025. Condo apartments only. District medians, not building prices.
For an investor, lower prices are a better entry point than in 2022. The MLS Home Price Index apartment benchmark in October 2026 was $523,600 in W07 and $526,600 in W08, both down from a year earlier. More detail on the street’s prices is in what Queensway condos actually sold for.
How much rent can a Queensway condo earn?
TRREB’s Q2 2026 rental report gives average lease rates for condo apartments by district. One-bedrooms averaged $2,199 in W07 and $2,172 in W08. Two-bedrooms averaged $2,725 in W07 and $2,828 in W08. W08 recorded 668 leases in the quarter against 870 units listed, so tenants had choice. TRREB had not posted its Q3 2026 report as of 10 November 2026.
The trend may be turning. The Rentals.ca and Urbanation report for October 2026 put Toronto’s average asking rent for apartments and condos at $2,590, up 1.6% from a year earlier. It was the first annual increase after 32 months of decline. One month of data is not a trend, so I would not build a plan around rising rents.
What is the rental yield on a Queensway condo?
Gross yield is a year of rent divided by the price, before any costs. It is a quick first filter, not a profit number.
| Example | Price | Monthly rent | Gross yield |
|---|---|---|---|
| W07 median price, W07 one-bedroom rent | $584,000 | $2,199 | 4.5% |
| W07 median price, W07 two-bedroom rent | $584,000 | $2,725 | 5.6% |
| W08 median price, W08 one-bedroom rent | $525,000 | $2,172 | 5.0% |
| W08 median price, W08 two-bedroom rent | $525,000 | $2,828 | 6.5% |
My arithmetic using TRREB MLS data via REALM (January to October 2026 medians) and TRREB Rental Market Report Q2 2026 average rents. Medians mix all unit sizes, and a two-bedroom usually costs more than the median, so real two-bedroom yields are lower than shown.
A fair working range for The Queensway is about 4.5% to 6% gross. After fees, tax and interest, that leaves little or nothing.
Does a Queensway condo cash flow in 2027?
Here is a full example. The price comes from the W08 median. The rent sits between the W08 one- and two-bedroom averages. The tax, fee and insurance lines are placeholders, not quotes: replace them with the numbers from the listing and the status certificate.
| Monthly item | Example |
|---|---|
| Rent | +$2,500 |
| Mortgage: $420,000 (20% down on $525,000), 4.5%, 25 years | -$2,325 |
| Property tax (placeholder: $400,000 assessment x 0.767311%) | -$256 |
| Maintenance fee (placeholder) | -$500 |
| Landlord insurance (placeholder) | -$30 |
| Vacancy and repairs allowance (5% of rent) | -$125 |
| Monthly cash flow | about -$736 |
My calculation. Toronto 2026 residential tax rate of 0.767311% from the City of Toronto. Mortgage uses standard Canadian semi-annual compounding.
At a 4.0% rate, the gap is about -$620 a month. At 5.0%, it is about -$854. To break even at 4.5% with these placeholders, you would need roughly 45% down. Two things soften the picture. In year one, about $9,360 of your mortgage payments go to principal, which is real equity. And rent can rise over time, especially in units exempt from rent control. Still, plan to fund a monthly gap from income. I explain why most Toronto condos look like this in does an Etobicoke investment condo cash flow.
Condo Valuation
What’s your condo
worth today?
Three quick steps. Condos don’t price like houses — your floor, your view, and whether you own parking move the number more than anything else. This weighs all of them.
Reading recent condo sales…
Estimated market value
—
$0–$0
Most likely $0 · about $0 per square foot
What moved the number
Starting from what comparable units in your area sell for, here’s what your specifics added or subtracted.
Market context
—
—
Two units, same floor plan,
$90,000 apart.
That happens constantly in condos — one has the parking, the right exposure, or a board that keeps the reserve fund healthy. A model can’t see your status certificate. I can.
How do maintenance fees and property tax affect returns?
The maintenance fee is often the line that decides a deal. Compare fees per square foot between buildings, and check what the fee covers. A fee that includes heat and water may cost you less overall than a lower fee with everything billed separately. The status certificate shows the budget, the reserve fund and any special assessment.
Property tax in Toronto is your assessed value times the tax rate. The City’s 2026 residential rate is 0.767311%. MPAC says 2026 property taxes are still based on assessed values as of 1 January 2016, so a condo’s assessed value can be well below today’s price. Ask the seller for the latest tax bill rather than guessing. The 2027 rate will be set in the City’s 2027 budget.
Is a Queensway condo rental rent-controlled?
It depends on when the unit was first occupied. Ontario’s 2027 rent increase guideline is 1.9%, but units first occupied for residential use after 15 November 2018 are exempt. Much of the Queensway’s newer stock, such as Queensway Park, 859 West and Reina, finished after that date. In those units you can reset the rent to market at renewal, with 90 days’ written notice and at least 12 months between increases. Older units, such as those at Qube or IQ Phase 1, are capped at the guideline for sitting tenants. See is my Etobicoke rental rent-controlled.
What rules and taxes apply to condo landlords in Toronto?
- No short-term rentals of an investment unit. The City of Toronto only allows residents to rent their principal residence on a short-term basis. Many condo rules are stricter still. Model long-term rent only. Here is how short-term rental rules compare across the GTA.
- Vacant Home Tax. If a Toronto unit sits empty for six months or more in a year, the City charges 3% of its assessed value. Every owner must declare, and the 2026 declaration is due by 30 April 2027.
- Income tax. Net rental income is taxed at your marginal rate. Interest, fees, property tax and insurance are generally deductible. See rental income tax and Form T776.
- Tenant protections. The Residential Tenancies Act applies to condo rentals. Disputes go to the Landlord and Tenant Board, which can take months.
Which Queensway condos make the best rentals?
The unit matters more than the street. Based on what leases well in this area, here is what I look for when an investor asks me to shortlist:
- Layouts tenants actually want. One- and two-bedroom suites made up about 95% of TRREB’s W07 and W08 condo leases in Q2 2026 (681 of 719). Studios barely registered, with five bachelor leases across both districts.
- Parking. Many Queensway suites have none. A unit with a spot reaches tenants who drive to work in Mississauga or along the Gardiner.
- A short walk to the bus. Tenants without a car compare the walk to the 80 Queensway bus and the ride to Line 2.
- A healthy reserve fund. Read the status certificate before you firm up, not after.
- First occupied after November 2018. That keeps your rent at market over the long run.
What are the risks of investing on the Queensway in 2027?
- New supply. BLVD Q at 935 The Queensway, with 210 suites, targets occupancy in 2027, and Iridesa at 1156 is a 220-unit rental under construction. More units compete for the same tenants.
- Rates. The Bank of Canada raised its policy rate to 2.50% on 28 October 2026 and said a further increase could be needed. It expects inflation around 3% through much of 2027.
- Special assessments. A weak reserve fund can mean a large bill you cannot pass on to a tenant.
- Tenant risk. Screening is the cheapest protection you have. Read how to find and screen tenants in Ontario.
Do not buy on the hope that prices will jump in a year or two. Condo prices in both Queensway districts fell in 2025 and again in 2026. If your plan only works with price growth, rent increases and perfect occupancy all at once, it is not a plan. Stress-test your numbers at a rate one point higher than today.
A Queensway condo can be a sound long-term hold in 2027 if you buy the right unit: a layout tenants want, parking if possible, a building with a healthy reserve fund, and ideally post-2018 so you can keep rent at market. Expect a negative monthly gap at 20% down, fund it from income, and plan to hold for ten years or more. If you need the property to pay for itself from day one, wait or look elsewhere.
What to do next
- Replace every placeholder in the cash flow table with real numbers from a listing and its status certificate.
- Check the building’s first-occupancy date to confirm whether rent control applies.
- Get a mortgage pre-approval for an investment property and ask about the down payment required.
- Pull the last 12 months of leases in the building, not just the district averages.
- If you already own a Queensway condo, run it through the condo value estimator above before deciding to buy another.
Need help with this? Talk to me.
I’m Jatin Dua, Broker of Record at RE/MAX Quantum Realty, and I’m the best agent to do this kind of work for you in Toronto and across the GTA. Over $100 million in GTA sales and 100+ families helped sell. Feel free to contact me any time: call or text 833-330-1925 or email [email protected].
Frequently asked questions
Is a Queensway condo a good investment in 2027?
It can be, but only as a long-term hold. From January to October 2026, Queensway-area condo medians were $584,000 in W07 and $525,000 in W08 (TRREB MLS data via REALM), while one-bedrooms leased for about $2,170 to $2,200 a month (TRREB Q2 2026). With 20% down, most units show a negative monthly cash flow in 2027, offset partly by mortgage principal paydown.
What rental yield can I expect from a Queensway condo in 2027?
Roughly 4.5% to 6% gross in 2026. That is my arithmetic using TRREB median prices for January to October 2026 ($584,000 in W07, $525,000 in W08) and TRREB’s Q2 2026 average rents ($2,172 to $2,828 a month depending on district and bedrooms). Net yield after fees, property tax, insurance and vacancy is much lower, and usually below mortgage rates.
Do Toronto condos cash flow in 2027?
Most do not with a standard 20% down payment. In my Queensway example, a $525,000 condo renting for $2,500 a month comes out about $736 a month negative at a 4.5% mortgage rate over 25 years, after property tax, fees, insurance and a vacancy allowance. Breaking even would take roughly 45% down. Numbers vary by building, so test each unit.
Can I Airbnb my investment condo on the Queensway?
No. The City of Toronto only allows residents to rent their principal residence on a short-term basis, so an investment condo on The Queensway cannot be run as a short-term rental. Many condo corporations also ban short stays in their rules. Investors should model long-term rents only, using figures such as TRREB’s Q2 2026 averages.
Are new Queensway condos exempt from rent control?
Yes, if they were first occupied for residential use after 15 November 2018. Ontario’s 2027 guideline of 1.9% does not apply to those units, so a landlord can raise rent by any amount at renewal, with 90 days’ written notice and at least 12 months between increases. Queensway Park, 859 West and Reina all registered after 2018.
What is the property tax rate on a Toronto condo in 2026?
The City of Toronto’s 2026 residential rate is 0.767311% of assessed value, which includes the municipal, education and City Building Fund parts. MPAC says 2026 taxes are still based on assessed values as of 1 January 2016, so the assessed value is often below today’s price. The 2027 rate will be set in Toronto’s 2027 budget.
What is the Toronto Vacant Home Tax rate?
It is 3% of the property’s assessed value. The City of Toronto charges it when a residential property is vacant for six months or more in a year. Every owner must file a declaration, and the declaration for 2026 is due by 30 April 2027. A Queensway investment condo that sits empty between tenants for most of a year could be caught.
How much down payment do I need for an investment condo in Toronto?
Usually at least 20%. Mortgage default insurance is generally not available for a rental you will not live in, so lenders expect a conventional down payment. On a $525,000 Queensway condo, the 2026 W08 median, that is $105,000, plus closing costs such as both the Ontario and Toronto land transfer taxes, legal fees and adjustments. Ask a lender to confirm before you shop.
Sources
- TRREB Rental Market Report, Q2 2026
- TRREB Market Watch, October 2026
- Rentals.ca and Urbanation National Rent Report, October 2026
- City of Toronto: Property tax rates and fees (2026)
- MPAC: Assessment cycle
- City of Toronto: Vacant Home Tax
- City of Toronto: Short-term rentals
- Bank of Canada raises policy rate to 2.50% (28 October 2026)
Related reading
- The Queensway Housing Market in 2027: Condo and House Prices
- Should You Buy a Condo on the Queensway in 2027?
- Selling a Condo on the Queensway in 2027: Pricing and Timing
- Renting on the Queensway in 2027: Condo Rents and Where to Look
About the author — Jatin Dua, Toronto and GTA real estate broker
I am Jatin Dua, Broker of Record and co-founder of RE/MAX Quantum Realty Inc., Brokerage, Unit 101, 799 The Queensway, Toronto. I work with buyers and sellers across Toronto and the GTA and have helped more than 100 families sell. Four-plus years of active GTA transactions and over $100 million in sales volume.
Reach me at [email protected] or 833-330-1925, or book a call.