@Hadi19 I am a new host in the eastern part of the City of Toronto (in Scarborough). I am too young in the market to give you any real life experience. I find it hopeful as I am booked up to the first week of January 2019.
According to an analytical tool, your location is very good in demand and has a very good potential for earning which is above your expectation. The rate varies which is low in winter and high in summer months.
In theory, you can expect high occupancy (about 75%) and good rate per night (over $100 per night average for 2 guests).
Being said that it all depends upon market and your availability.
Considering the location and you financial stake, it seems a viable project. But all depends upon many factors.
This is my two cents, if it helps.
Thanks,
Ash