Free Tool · Garden Suite Investment
Garden Suite ROI Calculator
What could a backyard suite rent for, return, and add to your property? Real CMHC area rents — your assumptions for everything else.
≈ $500/sq ft · Toronto garden suites typically run $300–$600/sq ft — your number, your build.
Monthly cash flow
$9
rent minus operating costs and a typical mortgage on the build
Gross rent / year
$26,400
Gross yield
8.8%
Est. equity added
$53,760
stabilized value (NOI ÷ your cap rate) − cost · estimate
Rent recovers build in
17 yrs
from net rent, before financing
Estimate · not financial advice
This is an illustrative estimate, not financial advice or a price quote. Every result depends entirely on the assumptions you enter — construction costs, rents, expenses, and financing all vary by property and market. Confirm any investment decision with your accountant, lender, and a Metrohomes consultation for site-specific costs.
Rent pre-fills from the CMHC Rental Market Survey (zone average, all unit types) and is fully editable. Build cost is your input — Metrohomes does not publish project prices because they vary by lot. For a site-specific cost, book a consultation.
Save your numbers
Email me this garden suite analysis
Get your numbers in your inbox. Want to pressure-test the build cost on your actual lot? We'll bring real figures to a no-pressure consultation.
About This Calculator
The income side of your backyard
Our Property Assessment answers what you can build. This calculator answers the next question: what would it earn? Enter your address and we pre-fill the average rent for your CMHC zone from the official Rental Market Survey — then you set your own build cost and financing to see gross yield, monthly cash flow, payback, and the equity a suite could add.
Every number here is yours or cited from CMHC — we don’t publish a Metrohomes price, because real costs depend on your lot. Treat this as an honest planning framework, and book a consultation when you want site-specific figures.
Frequently Asked Questions
How much can a garden suite rent for in Toronto?
It depends on the neighbourhood and the unit. This calculator pre-fills the average rent for your address straight from the CMHC Rental Market Survey, then lets you adjust it for your specific suite. A well-finished 1- or 2-bedroom garden suite in Toronto typically commands a strong rent because it is private, ground-level, and brand new.
Is building a garden suite a good investment?
A garden suite can generate rental income and add value to your property, but the return depends entirely on your build cost, the rent you achieve, your financing, and your operating costs. This tool shows your gross yield, monthly cash flow, payback period, and an estimate of the equity the suite could add — using your own numbers so the result is honest, not a sales pitch.
How much does a garden suite cost to build?
Costs vary widely by lot, design, and finish — Toronto garden suites generally fall in the $300–$600 per square foot range. Because the real number depends on your specific site, we do not publish a fixed price. You enter your own build-cost assumption here; for a site-specific estimate, book a Metrohomes consultation.
What is gross yield versus cash-on-cash return?
Gross yield is annual rent divided by total project cost — a quick measure of income relative to investment. Cash-on-cash return (under advanced assumptions) is your annual cash flow divided by the cash you actually put in, after financing. Both matter: gross yield shows the asset’s earning power, cash-on-cash shows the return on your own money.
Can I build a garden suite on my lot?
Most detached and semi-detached Toronto lots qualify for a garden suite as-of-right since the 2022 bylaw. Use our free Property Assessment to check your specific lot’s zoning, setbacks, and buildable area — then bring those numbers back here to model the returns.