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Wadena · Vacant Land · under $75,000. Alerts only send when there are new or meaningfully updated matching homes.
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Here is a great opportunity to have a massive large single family yard (200' x 120'), or 2 large family yards (100' x 120'), or 4 regular size (50' x 120') family yards, or a multi family development (4-plex or condo) or a commercial development or 2 commercial developments...the possibilities are almost endless! This property consists of 4 adjoining 50' wide parcels for a total of 200' of street frontage and all are 120" deep. There is town water and sewer available for hookup under 1st Street NE, and there is power, natural gas and phone utility access from the back alley, but not run to each lot as there has been no construction plans yet. These lots are now zoned residential but could possibly be rezoned commercial with a successful application to town council. There is currently an oversized single garage on one of the properties and it is in good condition. Wadena is vibrant town with so much to offer including, but not limited to; Schools, churches, public swimming pool, 3 seniors living facilities, medical clinic, fire department, RCMP, hospital, campground, community hall, museum, car wash, legion hall, Subway, dentist, restaurants, Coop food fuel and liquor, bakery, florist, tattoos, pharmacy, dollar store, auto body, auto dealer, agri equipment dealer, welding shop, banks and so much more (easy to find work, easy to make friends). Buy...build...and live happily ever after!! (id:65958)
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
229.43%
Cap rate
50.75%
GRM
1.7
Break-even rent
$387
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 May 6, 2026.
Location of this listing. Distances are straight-line.
Full neighbourhood intelligence (schools, halal, mosques, transit) is still building for this address.