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Reduced $36,800 (8%) from $485,800
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Fort McMurray · Single Family · under $500,000 · 3+ bed · 2+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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138 Father Mercredi Street
Set on a huge downtown lot with both front street and alley access, this bungalow sits in one of those rare pockets that feels quietly tucked away, yet right next to everything. The river is just steps away, events and city amenities are close by, and the neighbourhood itself has this enchanted, established vibe thanks to the towering mature trees and calm surroundings. It’s downtown living, without the downtown noise.Inside, the character is undeniable. Exposed beams, vaulted ceilings, terra-cotta stone details, and a layout that’s anything but cookie-cutter give the home a warm, inviting personality. There’s fresh paint throughout, updated bathrooms, and plenty of natural light that makes the space feel open and easy to live in. The main living area centres around a wood-burning fireplace, the kind you actually want to use on winter evenings.The main floor offers hardwood and tile flooring through the living and dining areas, kitchen, and three comfortable bedrooms, while downstairs you’ll find a large rec room that can flex however you need it, movie nights, games, hobbies, or extra hangout space.One of the biggest bonuses here is the legal basement suite with a separate entrance. It includes a kitchen, open living and sleeping space, full bathroom, and its own washer and dryer, ideal for rental income, extended family, or simply having options.Outside, the lot really shines. There’s space to breathe, room to park, and a double detached garage, plus peace of mind knowing there’s a brand new roof on both the house and the garage.This isn’t a flashy flip or a sterile new build. It’s a home with history, personality, and smart updates, the kind of place that feels grounded, welcoming, and full of possibility.If you’ve been waiting for something a little different, a little special, this one’s worth seeing in person. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| 4pc Bathroom | 8.42 Ft x 11.75 Ft | |
| Bedroom | 20.67 Ft x 20.50 Ft | |
| Kitchen | 13.50 Ft x 11.67 Ft | |
| Recreational, Games room | 10.33 Ft x 23.75 Ft | |
| Storage | 17.00 Ft x 8.25 Ft | |
| Furnace | 13.58 Ft x 12.17 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| 2pc Bathroom | 5.08 Ft x 4.25 Ft | |
| 4pc Bathroom | 5.00 Ft x 8.00 Ft | |
| Bedroom | 10.00 Ft x 9.17 Ft | |
| Bedroom | 11.00 Ft x 9.25 Ft | |
| Dining room | 9.83 Ft x 12.58 Ft | |
| Family room | 23.42 Ft x 14.25 Ft | |
| Foyer | 15.58 Ft x 8.17 Ft | |
| Kitchen | 12.83 Ft x 12.83 Ft | |
| Living room | 11.58 Ft x 22.08 Ft | |
| Primary Bedroom | 11.08 Ft x 12.58 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
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Insurance estimate
Get a same-day quote. Older homes, knob-and-tube wiring, polybutylene plumbing, flood plains all change the number.
Commute
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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
1.18%
Cap rate
5.10%
GRM
12.9
Break-even rent
$2,807
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.
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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.
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Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Jul 3, 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.
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