What rent does a $950,000 rental need in Canada?

About $6,275/month CAD to break even, and $6,525/month for $200 of monthly cash flow — with 20% down at a 5% rate.

Assumes typical costs: property tax 0.8% and insurance 0.35000000000000003% of the price per year, 5% vacancy, 10% of rent for repairs, and a 25-year amortization with semi-annual compounding. Plug in your real numbers on the right.

Rate20% down: break even / +$20025% down: break even / +$200
4%$5,775 / $6,025$5,500 / $5,725
4.5%$6,025 / $6,275$5,725 / $5,950
5%$6,275 / $6,525$5,950 / $6,200
5.5%$6,550 / $6,775$6,200 / $6,425

The 1% rule would ask for $9,500/month. It's a quick screen only — taxes, insurance and the rate decide the real answer.

Quick check

Canada · CAD

Monthly cash flow

$216/mo

Preliminary verdict

Proceed with caution

Cash flow is positive, but the cushion over the mortgage is thin.

Cash flow
$216/mo
Cap rate
5.86%
DSCR
1.05

Counted

Mortgage (25-yr, semi-annual compounding), property tax ~0.8%/yr, insurance ~0.35%/yr, 5% vacancy, 10% of rent for repairs.

Not counted yet

Land transfer tax, legal fees, condo fees, a property manager, and your actual tax and insurance quotes. Add them in the full analysis.

How we calculate · An estimate to screen deals, not financial advice.

Other prices

Related: rental property calculator · DSCR calculator · cap rate calculator