10 Ontario Condos Under $100,000 With Positive Cash-Flow Potential Ref: AI Tools as is
Current listings and rental comparisons reviewed August 30, 2026
Finding real estate in Ontario for less than $100,000 sounds almost impossible. In Toronto, the price would not ordinarily buy even a conventional residential condo parking space in many buildings.
Yet a small segment of the market still exists below the $100,000 threshold.
The catch is that investors have to look beyond conventional GTA residential condos. Current opportunities fall primarily into two categories:
Residential condos in lower-cost Ontario cities, particularly Chatham and Elliot Lake; and small titled commercial condominium units, often located inside indoor shopping centres.
This ranking excludes businesses-for-sale, leased businesses, parking spaces, mobile homes, land-lease cottages, timeshares and fractional resort interests. The buyer must acquire an actual condominium real-estate interest.
How the rankings were calculated
For comparison, the following simplified all-cash screening calculation is used:
Annual rental surplus = annual rent − annual condo fees − annual property tax
Screening return = annual rental surplus ÷ asking price
This is deliberately not called a cap rate, because it does not account for every operating expense.
Insurance, repairs, vacancy, leasing costs, legal costs, utilities payable by the owner, income tax, HST, closing costs and special assessments can reduce the actual return.
Where an exact current or recent rent for the particular unit was available, it was used. Otherwise, rent was estimated from current nearby or same-building rental listings.
Top 10 Ontario Condo Cash-Flow Candidates Under $100,000
| Rank | Property | Type | Asking Price | Size | Approx. Rent | Condo Fee | Property Tax | Approx. Annual Surplus* | Screening Return* |
|---|---|---|---|---|---|---|---|---|---|
| 1 | 212-276 Merritt Ave, Chatham | Residential apartment condo | $84,900 | 600–699 sq. ft., 1-bed | ~$1,250/mo | $426.91/mo | $910/yr | ~$8,967 | ~10.6% |
| 2 | 306-276 Merritt Ave, Chatham | Residential apartment condo | $99,900 | 600–699 sq. ft., 1-bed | ~$1,250/mo | $422.84/mo | $933/yr | ~$8,993 | ~9.0% |
| 3 | 9-102 Hutchison Ave, Elliot Lake | Residential apartment condo | $79,900 | 2-bed | ~$1,200/mo | $562/mo | $922/yr | ~$6,734 | ~8.4% |
| 4 | 2C6-4675 Steeles Ave E, Toronto | Commercial condo inside Splendid China Mall | $45,900 | 136 sq. ft. | ~$750/mo | $408/mo | $939/yr | ~$3,165 | ~6.9% |
| 5 | 2C8-4675 Steeles Ave E, Toronto | Commercial condo inside Splendid China Mall | $49,900 | 136 sq. ft. | ~$750/mo | $408/mo | $963/yr | ~$3,141 | ~6.3% |
| 6 | 2A13 & 2A15-4675 Steeles Ave E, Toronto | Combined commercial condos inside mall | $50,000 | 256 sq. ft. | $1,250/mo asking | $828.76/mo | $2,311/yr | ~$2,744 | ~5.5% |
| 7 | M8-8 Glen Watford Dr, Toronto | Commercial condo inside Dynasty Centre | $49,000 | 203 total / ~144 retail sq. ft. | $650/mo exact recent asking rent | $360.82/mo | $1,296/yr | ~$2,174 | ~4.4% |
| 8 | 104-199 Front St, Belleville | Ground-floor commercial condo | $69,900 | 966 sq. ft. | $24,150/yr existing lease | $15,408/yr common fees | $6,369/yr | ~$2,373 | ~3.4% |
| 9 | 3103-4438 Sheppard Ave E, Toronto | Commercial condo inside Oriental Centre | $50,000 | 368 sq. ft. | $650/mo exact asking rent | $387/mo | $1,970/yr | ~$1,186 | ~2.4% |
| 10 | 2D22/23-4675 Steeles Ave E, Toronto | Combined commercial condo inside mall | $60,000 | 184 sq. ft. | ~$800/mo estimated | $595/mo | $1,500/yr | ~$960 | ~1.6% |
*Before insurance, vacancy, repairs, utilities not included in fees, leasing expenses, income tax, financing and transaction costs.
#1 — 212-276 Merritt Avenue, Chatham
Asking price: $84,900
This may be the most interesting conventional residential condo currently available below $100,000.
The unit is a genuine one-bedroom condo apartment, approximately 600–699 square feet, with one parking space. The listing reports a monthly maintenance fee of approximately $426.91 and annual property tax of approximately $910.
Current one-bedroom apartment listings in Chatham include examples around $1,249, $1,250, $1,265, $1,295, $1,330 and higher. Using $1,250/month as a conservative screening rent therefore appears reasonable, although the actual achievable rent for this particular unit must be verified.
Estimated calculation:
Rental income: $15,000/year
Condo fees: −$5,123
Property tax: −$910
Surplus: approximately $8,967/year
That represents approximately 10.6% of the $84,900 purchase price before the other costs mentioned above.
Why it ranks first
Unlike many properties on this list, this is a normal residential apartment rather than specialized commercial space. That potentially means a much larger tenant pool and more conventional resale market.
The major due-diligence items would be the condominium’s financial condition, reserve fund, special-assessment history and whether the corporation has any restrictions affecting rentals.
#2 — 306-276 Merritt Avenue, Chatham
Asking price: $99,900
This unit is in the same building as the #1 property.
It is another one-bedroom, 600–699-square-foot residential apartment condo, with approximately $422.84–$423/month in maintenance fees and roughly $933/year in property tax.
Using the same conservative $1,250/month rent estimate:
Rental income: $15,000
Condo fees: −$5,074
Property tax: −$933
Surplus: approximately $8,993/year
That produces an estimated 9.0% screening return.
Interestingly, the annual surplus is slightly higher than Unit 212 because of its marginally lower condo fee. However, the purchase price is $15,000 higher, which pushes its percentage return below Unit 212.
#3 — 9-102 Hutchison Avenue, Elliot Lake
Asking price: $79,900
This is another true residential condominium and offers two bedrooms rather than one.
The listing states that its $562 monthly condominium fee includes heat, city water and sewer, assigned parking and private storage. Annual 2026 property tax is approximately $922.
Current Elliot Lake two-bedroom rentals include approximately:
$1,125/month for an 800-square-foot apartment and $1,295/month for another 800-square-foot apartment.
Using $1,200/month for screening:
Rental income: $14,400
Condo fees: −$6,744
Property tax: −$922
Surplus: approximately $6,734
Estimated screening return:
8.4%
One advantage is that several significant utilities are already included in the condominium fee. The downside is that Elliot Lake is a much smaller rental and resale market than southern Ontario cities.
#4 — 2C6, 4675 Steeles Avenue East, Toronto
Asking price: $45,900
This is where the list changes from residential condominiums to commercial condominium ownership.
Unit 2C6 is a 136-square-foot commercial condo inside Splendid China Mall, near Kennedy Road and Steeles Avenue and close to Milliken GO and Pacific Mall.
It is actual commercial real estate, not the purchase of a business.
The property has:
Price: $45,900
Condo fee: $408/month
Property tax: $939/year
Size: 136 square feet
HST: listed as additional.
Current rental advertisements within the same mall vary considerably. A 127-square-foot unit has been advertised at $1,000/month, while an older 201-square-foot unit has been advertised at $538/month.
A conservative $750/month screening estimate gives:
$9,000 rent
− $4,896 condo fees
− $939 taxes
= $3,165
That equals approximately 6.9% of the asking price.
The rental estimate is not an existing lease on 2C6, so this return has considerably less certainty than the Chatham properties.
#5 — 2C8, 4675 Steeles Avenue East, Toronto
Asking price: $49,900
The neighbouring 2C8 is also 136 square feet.
Its major advantage is that the listing shows occupant type: tenant, and the unit has a water supply inside. The listing reports:
Condo fee: $408/month
Property tax: $963/year
Price: $49,900.
At an estimated $750/month rent:
$9,000 rental income
− $4,896 fees
− $963 tax
= $3,141
Estimated return: 6.3%
However, an investor should obtain the actual existing lease before relying on this calculation. If the current tenant is already paying significantly more or less than $750, the economics change immediately.
The existing tenant and in-unit plumbing arguably make 2C8 operationally more attractive than the slightly cheaper 2C6.
#6 — 2A13 & 2A15, 4675 Steeles Avenue East, Toronto
Asking price: $50,000
This is a combined 256-square-foot commercial condominium inside Splendid China Mall.
It demonstrates an important lesson about inexpensive commercial condos.
The exact unit has been advertised for lease at $1,250/month, which sounds excellent relative to a $50,000 purchase price.
But its recurring expenses are substantial:
Condo fee: $828.76/month
Property tax: approximately $2,311/year.
Calculation:
$15,000 rent
− $9,945 condo fees
− $2,311 property tax
= approximately $2,744
Estimated return:
5.5%
More than two-thirds of the advertised rent disappears into condo fees and property taxes.
This is why investors should never rank cheap commercial condos by purchase price or gross rent alone.
#7 — M8, 8 Glen Watford Drive, Toronto
Asking price: $49,000
M8 is inside Dynasty Centre near Midland and Sheppard in Scarborough.
The unit contains approximately 144 square feet of retail area and 203 square feet total, including associated space, and comes with use of a basement locker.
It has:
Condo fee: $360.82/month
Property tax: $1,296/year
No water supply inside the unit.
The particularly useful data point here is that the exact M8 unit has been advertised for $650/month rent. That rental listing states that the landlord pays the condo fee and property tax and the tenant pays hydro.
Calculation:
$7,800 rent
− $4,330 condo fees
− $1,296 tax
= $2,174
Estimated return:
4.4%
This is a lower return than the headline $49,000 price might suggest, but its figures are more credible than properties whose rent must be estimated.
#8 — Unit 104, 199 Front Street, Belleville
Asking price: $69,900
This property is interesting because much less estimation is required.
It is a 966-square-foot ground-floor commercial condominium in downtown Belleville, with direct access from Bridge Street.
More importantly, it already has a boutique restaurant tenant whose lease extends through the end of 2026.
The listing provides actual financial figures:
2026 rent: $24,150
2026 common fees: $15,408
2025 property taxes: $6,369.12.
Calculation:
$24,150
− $15,408
− $6,369
= approximately $2,373
Estimated return on $69,900:
3.4%
The percentage return is not spectacular, but having an existing tenant and known rental revenue makes this much easier to analyze than a vacant commercial condo.
The key issue is what happens when the current lease ends.
#9 — Unit 3103, 4438 Sheppard Avenue East, Toronto
Asking price: $50,000
This is a 368-square-foot commercial condo inside Oriental Centre at Sheppard and Brimley in Scarborough.
The sale listing reports:
Price: $50,000
Property tax: $1,970/year
Commercial condo fee: $387/month.
Conveniently, the exact same unit is also currently advertised for rent for $650/month.
Calculation:
$7,800 rent
− $4,644 condo fees
− $1,970 tax
= $1,186
Screening return:
2.4%
That return is thin.
Once vacancy and insurance are included, there is very little margin for error. The property may still appeal to an owner-user who wants to own rather than rent business premises, but it is considerably less compelling as a passive investment.
#10 — 2D22/23, 4675 Steeles Avenue East, Toronto
Asking price: $60,000
This is a combined 184-square-foot commercial condo in a corner location inside Splendid China Mall.
The unit is professionally finished with office furniture, shelving and built-in cabinets.
The listing reports:
Price: $60,000
Property tax: $1,500/year
Condo fee: $595/month.
Using approximately $800/month as a screening rental estimate based on the wide range of small-unit rents currently advertised in the complex:
$9,600 rent
− $7,140 condo fees
− $1,500 tax
= $960
Estimated return:
1.6%
This is technically positive under the simplified calculation but should be considered borderline rather than an attractive cash-flow property.
A small amount of vacancy, insurance expense or an unexpected repair could eliminate the annual profit.
The Residential-Condo Surprise
Perhaps the most interesting finding from this search is that the three residential condos rank above nearly all of the very inexpensive Toronto commercial condos.
That happens because a $50,000 commercial condo is not necessarily cheap to operate.
Consider these two examples:
Chatham residential condo
Purchase: $84,900
Rent: approximately $1,250
Condo fee: approximately $427
Property tax: approximately $76/month
The owner retains a substantial portion of gross rent.
Toronto mall commercial condo
Purchase: $50,000
Rent: $650
Condo fee: $387
Property tax: approximately $164/month
Almost the entire rent disappears before insurance or vacancy.
The purchase price alone therefore tells an investor very little.
Why There Aren’t 10 Normal Residential Condos Under $100,000
A current Ontario search does produce many apparent “condos” below $100,000, but a closer examination reveals numerous listings that are actually:
- parking spaces;
- fractional resort interests;
- fixed-week timeshares;
- mobile or trailer homes;
- leased-land cottages;
- co-ownership interests rather than standard condominium title.
For example, current searches under $100,000 contain numerous Collingwood and Muskoka fractional-resort listings rather than conventional apartments.
Those were deliberately excluded from this ranking.
This is why an apparently simple internet search for “Ontario condos under $100,000” can produce a misleading picture of the market.
What Positive Cash Flow Really Means
The table above uses a first-stage screening calculation. A property should not be declared a genuinely positive-cash-flow investment until the following are also considered:
Vacancy allowance. A residential apartment may have a relatively broad pool of prospective tenants. A 136-square-foot commercial unit inside a mall could remain empty much longer.
Insurance. Condo ownership still requires appropriate owner or commercial insurance.
Repairs and improvements. Commercial tenants in particular may expect improvements before moving in.
Special assessments. A $10,000 condominium special assessment is enormous relative to a $50,000 acquisition.
Leasing commissions and legal expenses. Commercial leasing can be more expensive than residential tenant turnover.
Utilities. The lease and condominium documents determine which party actually pays them.
HST. Several Toronto commercial listings specifically state that HST is additional to the purchase price. Commercial real-estate HST treatment should be reviewed with an accountant and real-estate lawyer.
Financing. These rankings assume cash purchases. Adding a mortgage reduces monthly cash flow and changes the cash-on-cash return.
Best Three From the Current Search
For an investor primarily seeking rental cash flow, the strongest initial candidates appear to be the two Chatham residential units and the Elliot Lake two-bedroom condo.
The $84,900 Chatham unit is particularly interesting because its projected rental economics are substantially stronger than most of the ultra-cheap Toronto commercial condos.
For investors specifically seeking Toronto real-estate ownership below $50,000, the small Splendid China Mall units remain unusual opportunities, particularly 2C6 at $45,900 and 2C8 at $49,900.
However, the residential units have a major structural advantage: people always need housing, while demand for tiny enclosed-mall commercial units can be much narrower.
Bottom Line
Yes, Ontario real estate below $100,000 still exists in 2026, and some listings appear capable of producing positive rental cash flow.
But the best opportunities are not necessarily the cheapest properties.
The current screen suggests approximately:
8%–11% preliminary returns are possible on a handful of low-cost residential condos;
4%–7% preliminary returns may be possible on selected small commercial condos;
while some ultra-cheap commercial units produce only 1%–3% before vacancy and insurance.
The lesson is simple:
Don’t buy a $50,000 property because it is cheap. Buy it only if the rent remains attractive after every recurring cost is deducted.
For investors evaluating this niche, the three numbers to obtain before making an offer are therefore realistic market rent, total condominium fees and annual property tax. After those figures are known, vacancy risk and the condominium corporation’s financial condition become the next major questions.
Disclaimer
Listings, asking prices and rental advertisements can change quickly. Information above was reviewed on August 30, 2026 and should be independently verified before making any investment decision.
Rental figures labelled as estimates are not guaranteed achievable rents. The calculated returns are simplified screening returns rather than complete net operating income, cap rates or guaranteed investment returns. Prospective purchasers should review the condominium status certificate, financial statements, reserve fund, permitted uses, lease documents, tenant history, insurance requirements, HST treatment and applicable landlord-tenant or commercial leasing rules with appropriate professionals before purchasing.
