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164 Castlegreen Close NE
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Welcome to this beautifully renovated home in the heart of Castleridge, offering an excellent opportunity for both investors and homeowners. Ideally located within walking distance to schools, parks, playgrounds, public transit, and shopping amenities, this property combines convenience, comfort, and income potential.This fully updated home features 4 bedrooms, 3.5 bathrooms, and an illegal basement suite with a separate entrance, making it a fantastic mortgage helper or investment property. Both the upper level and basement are currently rented, generating positive cash flow.The main floor welcomes you with a bright and open-concept layout, modern finishes, updated flooring, stylish lighting, and a spacious living area perfect for entertaining. The upgraded kitchen showcases contemporary cabinetry, quality countertops, stainless steel appliances, and ample storage space. A convenient half bathroom and laundry complete the main level.Upstairs, you'll find three generously sized bedrooms, including a spacious primary bedroom with its own ensuite, along with an additional full bathroom.The developed basement features a self-contained illegal suite with a kitchen, living area, bedroom, full bathroom, and separate laundry, providing excellent rental income potential.Extensive renovations throughout the home include new siding, soffits, fascia, gutters, windows, doors, flooring, carpet, bathrooms, kitchen cabinetry, countertops, lighting fixtures, paint, and knockdown ceilings. The exterior is equally impressive with a large deck, fenced backyard, and freshly painted front porch, creating the perfect outdoor space for relaxation and entertaining.Whether you're looking to expand your investment portfolio or purchase a move-in-ready home with strong rental income, this property is a rare opportunity in one of Northeast Calgary's most established communities. Don't miss your chance to own this exceptional cash-flowing property! (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| 3pc Bathroom | 5.17 Ft x 6.92 Ft | |
| Kitchen | 13.92 Ft x 5.00 Ft | |
| Bedroom | 13.75 Ft x 8.83 Ft | |
| Recreational, Games room | 13.92 Ft x 11.00 Ft | |
| Furnace | 4.33 Ft x 3.75 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| 2pc Bathroom | 6.67 Ft x 5.00 Ft | |
| Dining room | 6.83 Ft x 11.92 Ft | |
| Kitchen | 8.42 Ft x 11.92 Ft | |
| Living room | 13.92 Ft x 13.42 Ft |
Second level
| Room | Dimensions | Features |
|---|---|---|
| 3pc Bathroom | 5.33 Ft x 5.83 Ft | |
| 4pc Bathroom | 8.58 Ft x 6.83 Ft | |
| Bedroom | 10.25 Ft x 8.00 Ft | |
| Bedroom | 11.42 Ft x 9.00 Ft | |
| Primary Bedroom | 11.58 Ft x 10.08 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
-5.38%
Cap rate
3.79%
GRM
15.8
Break-even rent
$3,419
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 Jun 13, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
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