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119 Magnolia Drive SE
Beds
4
Baths
4 full + 1 half
Sqft
1,672
Year
2024
Type
Single Family
On market
82d
*Open Houses - Sat/Sun/Mon of May Long* Welcome to a beautifully designed residence that delivers the perfect balance of comfort, style, and everyday functionality in one of Calgary’s most sought-after lake communities—Mahogany. Thoughtfully laid out and filled with natural light, this home offers an inviting open-concept design that seamlessly connects the living, dining, and kitchen spaces—creating an ideal setting for both relaxed living and effortless entertaining. Clean lines, modern finishes, and modern window coverings throughout create a warm, cohesive aesthetic, offering a space that feels both elevated and approachable.The kitchen is both stylish and highly functional, featuring quality finishes, ample cabinetry, and a well-planned layout that makes day-to-day living easy while still impressing when hosting. It anchors the main floor and flows naturally into the living space, enhancing the overall sense of openness and connection.The living room serves as the true centerpiece of the home—designed for both comfort and impact. Adding exceptional value, the seller is willing to include a curated, near-new living room furniture package with a combined new replacement value of approximately $20,000. All pieces were thoughtfully selected in 2025 and remain in mint, barely-used condition. This package features a stunning West Elm Nassau 3-piece L-shaped sectional, perfectly complemented by two Pottery Barn Balboa upholstered swivel chairs—creating a refined yet highly functional seating arrangement. A professionally mounted 75” LG evo AI QNED85 4K Mini-LED Smart TV, purchased in March 2026, anchors the space, while a Pottery Barn end table completes the look.What truly sets this space apart is how the furnishings complement the full wall of window coverings framing the massive front window. Paired with the soaring ceiling height, the result is a space that immediately conveys elegance and sophistication—creating a striking first impression the moment guests step inside.Upstairs, the home continues to impress with additional windows and generously sized bedrooms, allowing natural light to pour in and creating bright, comfortable retreats throughout.A major highlight of this property is the fully legal City of Calgary–approved basement suite—offering a powerful opportunity to offset mortgage payments and reduce overall carry costs, whether used as a long-term rental, for extended family, or as a flexible income stream. As an added bonus, the seller is also willing to include select small appliances—featuring an espresso machine, ice cream maker, and air fryer, all purchased within the past year—further enhancing the convenience and move-in-ready appeal. All of this is set within Mahogany, one of Calgary’s premier lake communities, where residents enjoy private lake access, beaches, pathways, parks, and an abundance of nearby amenities, shops, and restaurants—delivering a lifestyle that is as valuable as the home itself. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| 4pc Bathroom | 8.33 Ft x 5.92 Ft | |
| Bedroom | 10.42 Ft x 11.08 Ft | |
| Kitchen | 6.67 Ft x 14.33 Ft | |
| Recreational, Games room | 7.58 Ft x 14.33 Ft | |
| Furnace | 8.75 Ft x 9.33 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| 2pc Bathroom | 4.92 Ft x 4.75 Ft | |
| Dining room | 12.17 Ft x 10.08 Ft | |
| Kitchen | 12.33 Ft x 15.17 Ft | |
| Living room | 17.50 Ft x 13.25 Ft |
Upper Level
| Room | Dimensions | Features |
|---|---|---|
| 3pc Bathroom | 8.33 Ft x 4.92 Ft | |
| 5pc Bathroom | 18.58 Ft x 6.17 Ft | |
| Bedroom | 13.25 Ft x 9.08 Ft | |
| Bedroom | 11.25 Ft x 9.42 Ft | |
| Primary Bedroom | 12.25 Ft x 12.42 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
-0.96%
Cap rate
4.67%
GRM
13.9
Break-even rent
$4,421
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 19, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Calgary. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.