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121 42 Avenue NE
Beds
5
Baths
4 full + 1 half
Sqft
1,855
Year
2026
Type
Single Family
On market
31d
Welcome to this brand new luxury semi-detached infill located in the highly desirable inner-city community of Highland Park and close to Downtown! Offering approximately 1,855 sq ft. above grade plus a fully developed WALKOUT legal basement suite, this stunning home perfectly blends modern design, functionality, and income potential. The open-concept main floor features soaring 9-ft ceilings, oversized windows, elegant finishes, and a chef-inspired kitchen complete with premium cabinetry, quartz countertops, large island, and stainless steel appliances. The spacious living and dining areas are perfect for entertaining and everyday living. Upstairs you’ll find a luxurious primary bedroom with a spa-inspired ensuite and walk-in closet, along with 2 additional bedrooms, bonus room, a full bathroom, and convenient upper floor laundry. The fully developed legal 2 bedroom WALKOUT basement suite offers a separate entrance, its own kitchen, laundry, and excellent mortgage-helper potential. Enjoy outstanding views from the balcony and front-facing exposure overlooking Deerfoot Trail and the Calgary International Airport, offering a unique and open city-view experience. Additional highlights include modern exterior finishes, front balcony, large rear deck/patio space, and a detached double garage. Ideally situated close to downtown, Centre Street, schools, parks, shopping, transit, grocery stores and major roadways. Exceptional opportunity to own a beautifully crafted new infill in a rapidly growing inner-city location! ATTENTION FIRST-TIME HOME BUYERS: You could qualify for up to a 100% GST rebate on this new home! Enquire today to find out more! (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Bedroom | 10.00 Ft x 11.00 Ft | |
| Bedroom | 11.00 Ft x 10.00 Ft | |
| 3pc Bathroom | 8.08 Ft x 5.17 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Great room | 14.92 Ft x 15.67 Ft | |
| Kitchen | 10.00 Ft x 11.00 Ft | |
| Living room/Dining room | 11.00 Ft x 10.00 Ft | |
| 2pc Bathroom | 5.50 Ft x 5.00 Ft |
Second level
| Room | Dimensions | Features |
|---|---|---|
| Primary Bedroom | 12.75 Ft x 14.50 Ft | |
| Bonus Room | 10.33 Ft x 10.25 Ft | |
| Bedroom | 10.33 Ft x 10.33 Ft | |
| Bedroom | 11.67 Ft x 10.92 Ft | |
| 3pc Bathroom | 5.17 Ft x 8.75 Ft | |
| 5pc Bathroom | 5.92 Ft x 9.25 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
-0.85%
Cap rate
4.69%
GRM
13.9
Break-even rent
$6,149
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 Jun 9, 2026.
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.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.