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Reduced $15,000 (2%) from $800,000
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116 Cove Road
Beds
5
Baths
4
Sqft
2,151
Year
1998
Type
Single Family
On market
20d
If you’re looking for a home designed for both luxury, functionality, and an exceptional location, this beautifully updated estate home in The Cove is one you won’t want to miss! Located in the highly sought-after lake community, this stunning 2-storey residence offers over 4,400 sq. ft. of beautifully developed living space just steps from Chestermere’s beaches, parks, and playgrounds. Situated on a tremendous west-facing corner lot, the home features 5 bedrooms, 4 full bathrooms, a separate basement entrance, and an oversized triple heated garage. The outdoor space is equally impressive, offering a large upper deck, lower concrete patio ideal for RV or boat parking, sports court, and abundant green space for children and pets to enjoy.From the moment you arrive, the grand curb appeal and elegant open-to-above foyer with a sweeping curved staircase create a lasting first impression. The bright and spacious main floor is designed for both everyday living and entertaining, showcasing formal living and dining areas with a built-in beverage station for hosting family and friends. The fully renovated chef’s kitchen features quartz countertops, full-height cabinetry, a large central island, pantry, and premium Fulgor Milano appliances. Adjacent to the kitchen, the inviting family room offers extensive custom built-ins, pot lighting, and a cozy gas fireplace overlooking the beautifully landscaped backyard. A versatile main floor flex room and full 3-piece bathroom provide excellent flexibility for guests, a home office, or playroom.Upstairs, retreat to the luxurious primary suite featuring a spa-inspired Scandinavian-designed ensuite with dual vanities, a custom tiled shower, freestanding soaker tub, and a spacious walk-in closet with built-in organizers. Two additional bedrooms and another full bathroom complete the upper level.The fully developed basement with separate entrance offers excellent flexibility for backyard access, guests, or a home-based business, featur ing a spacious recreation room, wet bar with island seating, and direct access to the backyard patio. A fifth bedroom and additional full bathroom complete the lower level, while the large storage room with a window offers potential for an additional flex room or sixth bedroom.Extensive recent upgrades provide exceptional peace of mind, including Poly-B plumbing replacement (2025), interior paint (2026), a new roof (2021), furnace (2019), two hot water tanks (2019), central air conditioning (2019), exterior repaint (2020), and NUVO water filtration system (2020). Main-floor laundry can be restored if desired.Enjoy the ultimate lake lifestyle with Chestermere Lake, beaches, walking paths, parks, pickleball courts, schools, shopping, and amenities all just minutes away — plus only approximately 20 minutes to downtown Calgary. This exceptional property perfectly combines luxury, space, and location — a true must-see estate home. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Recreational, Games room | 14.67 Ft x 20.75 Ft | |
| Bedroom | 11.00 Ft x 13.83 Ft | |
| 3pc Bathroom | 5.00 Ft x 11.75 Ft | |
| Furnace | 9.58 Ft x 15.00 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Foyer | 10.33 Ft x 16.00 Ft | |
| Family room | 18.25 Ft x 20.67 Ft | |
| Dining room | 12.33 Ft x 14.58 Ft | |
| Kitchen | 12.17 Ft x 13.50 Ft | |
| Living room | 10.58 Ft x 11.00 Ft | |
| Bedroom | 10.58 Ft x 11.58 Ft | |
| 3pc Bathroom | 6.08 Ft x 6.58 Ft |
Upper Level
| Room | Dimensions | Features |
|---|---|---|
| Primary Bedroom | 17.42 Ft x 16.25 Ft | |
| 5pc Bathroom | 9.08 Ft x 10.92 Ft | |
| Bedroom | 9.50 Ft x 11.67 Ft | |
| Bedroom | 9.33 Ft x 12.00 Ft | |
| 4pc Bathroom | 4.92 Ft x 9.08 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
-1.05%
Cap rate
4.65%
GRM
13.9
Break-even rent
$4,845
Financing
Operating expenses (monthly)
Save this analysis — go Pro (free)
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 Jun 9, 2026.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Chestermere. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.