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REMAX Hallmark Realty LTD

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REMAX Hallmark Realty LTD

Mortgage Calculator

Plan your purchase with precision. Estimate your monthly carrying costs, closing costs, and navigate land transfer taxes instantly.

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Closing Costs

Mortgage Amount
$640,000
Land Transfer Taxes$12,475
Legal Fees (Est.)
$
Total cash required for closing$173,975

Total Monthly Obligation

$3,935/mo
Mortgage $3,227
Monthly Loss $3,086
Principal$849
Interest$2,378
Property Tax$333
Home Insurance$125
Variable Costs$250
Cash Flow
-$935/mo
Gross Yield
4.5%
Cap Rate
3.0%
Cash-on-Cash
-8.6%
5-Yr IRR
8.8%
10-Yr IRR
9.6%

Using baseline default rent · Search a property for real estimates

Reserves: 0% Vacancy + 0% CapEx

Buy vs. Rent Analysis

Should you buy this property or rent and invest the difference?

How it works: Instead of using your $160,000 as a down payment, what if you invested it in the stock market and continued renting? Each month, the difference between your buy costs and rent is also invested.

Buy: Build equity via appreciation + mortgage paydown
Rent: Invest down payment + monthly savings into S&P 500

Renting and investing is the better financial choice over this 10-year period.

Resulting in a higher net position of $78,419.

Breakeven Thresholds
Appreciation:5.7%
S&P Return:9.2%
Current Assumptions
S&P: 10.5%
Home: 5%
Inf: 2.5%
Threshold Analysis:To make renting worth it over 10y, the stock market needs at least 9.2% avg. returns. Buying wins only if property appreciation exceeds 5.7%.
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10yr
Buy Scenario
Projected Equity
Home value after 10 years of 5% annual appreciation, plus equity from mortgage paydown, minus remaining balance.
$726,070
Sunk Costs
Interest paid + property taxes + condo fees + insurance + utilities over 10 years. This is money you never get back.
-$419,512
Net Position (Gross)$371,714
Cost of Disposition (5%)-$65,156
Net (After Sale)$306,558
Rent & InvestWinner
Investment Value
Your $160,000 invested upfront + $1,435/mo savings, compounding at 10.5% annually for 10 years in the S&P 500.
$721,078
Sunk Costs
Total rent ($2,500/mo × 10yr = $300,000) + renter's insurance + utilities. Money you never get back.
-$336,101
Net Position$384,977
Sensitivity Heatmap
S&P 500 Return ↓
Home Appr. →
3.0%5.0%7.0%
8.5%
Rent$171,633
Buy$33,552
Buy$277,097
10.5%
Rent$283,603
Rent$78,419
Buy$165,126
12.5%
Rent$418,021
Rent$212,837
Buy$30,708

* This analysis uses simplified assumptions. S&P 500 historical data sourced from S&P Dow Jones Indices and NYU Stern (Damodaran). Canadian housing data from CREA, TRREB, and Re/Max Canada reports. Actual returns depend on market conditions, tax implications (capital gains on investments vs. principal residence exemption), transaction costs, and personal circumstances. Past performance does not guarantee future results.