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101 24508 TWP RD 361
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Beds
3
Baths
1
Sqft
1,045
Year
1980
Type
Single Family
On market
109d
AFFORDABLE LAKEFRONT! Welcome to your slice of waterfront paradise at beautiful Pine Lake — offering a million-dollar view over the lake and rolling countryside at an affordable price. This immaculate 3-bedroom bungalow-style modular home is perfectly positioned to capture all-day sun with its desirable south-facing exposure. Enjoy year-round comfort with propane heat, private septic, and a reliable water system — including an excellent 100-ft well producing 40 GPM. Situated on an extra-large 0.23-acre lot, this property offers exceptional privacy, bordering a well-treed Municipal Reserve on one side — giving you the feel of expanded green space without the added cost. Property Highlights include Turn-key opportunity – most furnishings included, Private boat dock & boat lift, Ideal for boating, fishing & water sports. Quiet, scenic setting with panoramic lake views. Conveniently located just 90 minutes from Calgary and 30 minutes to Red Deer, Pine Lake is known for its recreational lifestyle, welcoming community, and nearby golf course. Whether you’re looking for a full-time residence, weekend getaway, or investment property, this move-in-ready lakefront home offers unbeatable value and lifestyle. (id:65958)
Main level
| Room | Dimensions | Features |
|---|---|---|
| 4pc Bathroom | — | |
| Bedroom | 9.17 Ft x 9.17 Ft | |
| Bedroom | 8.17 Ft x 9.17 Ft | |
| Dining room | 7.00 Ft x 12.25 Ft | |
| Living room | 13.83 Ft x 12.33 Ft | |
| Primary Bedroom | 10.92 Ft x 12.33 Ft |
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
-6.91%
Cap rate
3.48%
GRM
16.7
Break-even rent
$3,572
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.
Rough ballpark only. Pick a down-payment option, then tap any underlined number below to plug in your real numbers — tax, condo fee, insurance, utilities. Total updates live. Confirm with a mortgage broker before writing an offer.
Cost lines (tax, condo, insurance, utilities) are editable inline above. These two control the mortgage payment math.
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. Suite rental income depends on permits, market rent, and vacancy — confirm with a property manager. Always validate your scenario with a mortgage broker and your insurance provider before writing an offer.
We'll reply by text within a few hours. Comparable sales, condition flags, things worth checking — sent before you book a showing.
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated May 24, 2026.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Rural Red Deer County. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.