Lenders typically require a larger down payment for a property with rental income built in, and CMHC, Sagen or Canada Guaranty insurance rules differ from a standard owner-occupied purchase, so the math has to be run on the specific property. Lakeview itself is a southeast neighbourhood of larger, established family homes near the Lakewood Civic Centre, which tends to draw longer-term tenants.
Lakeview's mature streets and schools tend to draw family tenants and long-term renters more than a high-turnover rental market, which changes the kind of return an investor should expect from it compared with a neighbourhood nearer the university.
A hand-reviewed valuation on the specific property is the only reliable way to know if the numbers work. Get your hand-reviewed valuation from Joel Dyck.