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Sylvan Lake · Other · under $9,050,000. Alerts only send when there are new or meaningfully updated matching homes.
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IRON GATE-SYLVAN LAKE. 88 acres of residential development land in BOOMING Sylvan Lake, with the area structure plan in place. This strategically positioned land is located on corner of Highway 20 and 47th Avenue. The area structure plan has been altered to take advantage of higher density and caters to affordable new home construction. Iron Gate is directly across from three fully developed quarter sections consisting of three district shopping centres with numerous tenants including Wal-Mart, Canadian Tire, No Frills, Sobey's, Shoppers Drug Mart, A&W, Wendy's, McDonalds. Directly supporting these shopping centres are the fully developed residential subdivisions of Ryder's Ridge, Hewlett Park and the industrial subdivisions of Cuendet Industrial Park and Norell business Park. This area has quickly become Sylvan Lake's "Go to" for shopping, commerce and residential lifestyles. Iron Gate subdivision consists consists of approximately 16 acres of commercial land, multi-family and duplex lots in the first phase, with the balance of the 88 acres ready for immediate development. Iron Gate subdivision has been designed and engineered to fully complement area growth with commercial development on the corner of Highway 20 and along 47th Avenue, and a comprehensive trail system/park areas with ease of walk-abilty and access to it's commercial component and surrounding amenities. The land is flat and dry with excellent building conditions. Take advantage of this rare opportunity with Environmental & Geotech reports available, Duck unlimited levies paid, internal roads already named, area structure plan in place. Legal and taxes to be confirmed upon final subdivision. (id:65958)
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
Ask for 3–5 recent solds within ~1 km and the same beds/baths so the list price has context.
Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
Confirm zoning matches your intent (single-family vs duplex vs secondary suite vs commercial).
Suite legality / potential
If suited or being marketed as suited: confirm permits, separate entrance, ceiling height, egress windows.
Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
Confirm the annual tax amount on the current assessment — and whether a reassessment is pending.
Insurance estimate
Get a same-day quote. Older homes, knob-and-tube wiring, polybutylene plumbing, flood plains all change the number.
Commute
Drive it (or transit it) at the actual time of day you'd commute. Map ETA lies during peak hours.
Deposit and financing conditions
Deposit size, financing condition window, condition removal date, possession date — all negotiable.
Inspection considerations
Budget for a home inspector ($500–700) and any specialty inspections (sewer scope, mould, asbestos for pre-1990 builds).
Cash on cash
-6.13%
Cap rate
3.64%
GRM
16.7
Break-even rent
$50,788
Financing
Operating expenses (monthly)
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Approximation only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
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Monthly carrying costs (shared)
Approximation only. CMHC default insurance is included when down payment is under 20%. Property tax and condo fees come from MLS when listed and may not reflect the current billing year. Accelerated bi-weekly frequency reduces total interest paid vs. monthly — confirm with a broker. Suite rental income depends on permits, market rent, and vacancy. Always validate with a mortgage broker before writing an offer.
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Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Jul 18, 2025.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Sylvan Lake. The listing facts above are live.