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107 Palomino Street
ILLEGAL BASEMENT SUITE WITH PRIVATE ENTRANCE | NEARLY NEW CONDITION | Welcome to 107 Palomino Street in the sought-after family-friendly community of Heartland, Cochrane! This next-to-new home offers exceptional value and versatility with a thoughtfully designed main residence plus a fully self-contained illegal one-bedroom suite featuring its own private side entrance and separate laundry facilities. The main home boasts 3 spacious bedrooms, 2.5 bathrooms, and an open-concept layout designed for modern living. The bright and inviting main floor showcases luxury vinyl plank flooring, quartz countertops, stainless steel appliances, and an abundance of cabinetry, providing both style and functionality. Large windows flood the home with natural light, while the well-appointed kitchen serves as the heart of the home, perfect for everyday living and entertaining alike. Downstairs, the illegal one-bedroom suite offers excellent flexibility for extended family, guests, or to be repurposed by the savvy investor. Complete with dedicated basement laundry and a private side entrance, this space provides privacy and convenience. Outside, you'll love the sunny west-facing backyard, perfect for enjoying afternoon and evening sunshine. The property currently offers parking for two vehicles and provides ample space to build a future double garage (pad is completed). Heartland is one of Cochrane's most desirable newer communities, known for its family-centric atmosphere, parks, pathways, playgrounds, and convenient access to schools, shopping, and amenities. Whether you're a first-time buyer or a savvy investor this property presents an outstanding opportunity. Priced to sell and with quick possession preferred, this is an excellent opportunity to secure a move-in-ready home in one of Cochrane's fastest-growing communities. Don't miss your chance to make 107 Palomino Street your next home or investment property! (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Family room | 9.25 Ft x 10.92 Ft | |
| Other | 4.67 Ft x 8.75 Ft | |
| Bedroom | 10.00 Ft x 12.25 Ft | |
| Other | 5.00 Ft x 9.92 Ft | |
| 4pc Bathroom | 4.83 Ft x 7.58 Ft | |
| Laundry room | 3.50 Ft x 3.67 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Living room | 10.83 Ft x 12.42 Ft | |
| Kitchen | 8.75 Ft x 13.83 Ft | |
| Dining room | 7.58 Ft x 10.33 Ft | |
| 2pc Bathroom | 4.83 Ft x 5.25 Ft |
Upper Level
| Room | Dimensions | Features |
|---|---|---|
| Bedroom | 11.08 Ft x 11.67 Ft | |
| 5pc Bathroom | 7.50 Ft x 8.67 Ft | |
| Other | 4.75 Ft x 7.50 Ft | |
| Bedroom | 8.92 Ft x 9.50 Ft | |
| Bedroom | 9.08 Ft x 10.75 Ft | |
| 4pc Bathroom | 4.92 Ft x 8.25 Ft | |
| Laundry room | 3.08 Ft x 6.42 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
-1.19%
Cap rate
4.63%
GRM
13.8
Break-even rent
$3,208
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.
Pick a down payment and tap any underlined number to edit. Total updates live. Confirm with a mortgage broker before writing an offer.
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.
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 Jun 12, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
Location of this listing. Distances are straight-line.
Full neighbourhood intelligence (schools, halal, mosques, transit) is still building for this address.