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1505 Fairwood Lane
Beds
4
Baths
4 full + 1 half
Sqft
3,806
Year
2022
Type
Single Family
On market
52d
Modern Masterpiece Lake View Home with 3 Beds + 1 Bed Suite for sale! Custom crafted in the fashion of a West Coast / Malibu Ocean front retreat, this designer home will shock your senses as you enter! Builder's own home features elements rarely seen today - from the 14 ft soaring vaulted Living Room and two story window wall, to the artistic drywall work integrating flush baseboards, to plaster-like 20 ft+ feature walls accenting the staircase, to the master crafted built-ins, to the curb-less walk-in shower, to the next-level garage with epoxy floor & full height cabinetry - this home has been finished to the highest level with no expense spared nor detail overlooked. This home is very energy efficient, and offers commercial grade construction such as ICF Foundation, Radiant in-floor hot water heating, ICF Suspended slab, multi zone heating/cooling, two story commercial quality windows, tank-less hot water, HRV, integrated speakers, 12 mm glass railing, stained and Roman stamped concrete deck and patio, and an engineered aluminum open riser stair case. 10 ft Ceilings in bright and open basement. Walk out to your private covered patio with new hot tub, synthetic putting green with chipping area, and rough-in for fire pit. One Bed Legal Suite is fully sound proofed with insulation in walls and ceiling, layer of sound board, plus 5/8 drywall, and separate heating/cooling. RV + Parking for 4 in driveway. Too many features to list! See HD Video and Virtual Tour in Media Links! (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Media | 19'0'' x 24'11'' | |
| Full bathroom | 10'5'' x 4'10'' | |
| Bedroom | 10'4'' x 12'2'' | |
| Living room | 10'11'' x 14'1'' | |
| Kitchen | 9'4'' x 14'2'' | |
| Storage | 8'8'' x 6'0'' | |
| 4pc Bathroom | 4'11'' x 8'1'' | |
| Bedroom | 13'1'' x 12'2'' | |
| Bedroom | 10'9'' x 12'2'' | |
| Recreation room | 13'8'' x 12'9'' | |
| Great room | 22'5'' x 17'8'' |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Other | 24'5'' x 26'11'' | |
| Partial bathroom | 5'0'' x 6'2'' | |
| Foyer | 8'3'' x 8'9'' | |
| Laundry room | 5'9'' x 6'6'' | |
| Pantry | 5'9'' x 12'0'' | |
| Other | 10'4'' x 5'11'' | |
| 5pc Ensuite bath | 14'3'' x 10'5'' | |
| Primary Bedroom | 13'11'' x 14'5'' | |
| Kitchen | 9'10'' x 18'11'' | |
| Dining room | 19'6'' x 13'2'' | |
| Living room | 17'11'' x 19'7'' |
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
-0.61%
Cap rate
4.74%
GRM
13.9
Break-even rent
$12,214
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 12, 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 Kelowna. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.