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168 Rainbow Falls Heath
Perfectly situated on a corner lot in the family-friendly community of Rainbow Falls, this updated 2-storey home offers the ideal balance of location, lifestyle, and thoughtful design. Enjoy quick access to Lakeside Golf Greens, Chestermere Lake, schools, parks, and shopping, making this an exceptional place to call home.Boasting over 2,700 sq ft above grade with a fully developed basement, this home features 6 bedrooms and 3.5 bathrooms, providing ample space for growing families or multi-generational living .The main floor welcomes you with a bright open-concept layout, neutral tones, and an abundance of natural light. The living room is anchored by a cozy gas fireplace, creating a warm and inviting space that flows seamlessly into the dining area and kitchen.The kitchen is the heart of the home, showcasing timeless white cabinetry, a tiled backsplash, premium built-in appliances, a large island, and a walk-through pantry. Direct access from the triple attached garage leads into a well-designed mudroom with added cabinetry and tile flooring for everyday convenience.The dining area offers direct access to the backyard, creating a seamless indoor-outdoor connection and making it perfect for entertaining or everyday living.Upstairs, you’ll find 4 spacious bedrooms plus a bonus room, providing flexible space for a family room, office, or play area. The primary suite offers a peaceful retreat with room for a king-sized bed, a walk-in closet, and a spa-inspired ensuite featuring a soaker tub and elegant tile finishes.The fully developed basement expands your living space with 2 additional bedrooms, high ceilings, and a stylish dry bar, ideal for entertaining or accommodating guests.Additional highlights include numerous built-in features and a thoughtfully designed layout tailored for modern living.This is a rare opportunity to own a well-appointed home in one of Chestermere’s most desirable communities. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Family room | 13.92 Ft x 21.83 Ft | |
| Furnace | 10.33 Ft x 9.00 Ft | |
| Storage | 9.42 Ft x 12.50 Ft | |
| Bedroom | 9.50 Ft x 11.33 Ft | |
| Bedroom | 9.83 Ft x 11.33 Ft | |
| 3pc Bathroom | 7.75 Ft x 4.92 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Foyer | 11.00 Ft x 8.00 Ft | |
| Den | 10.00 Ft x 13.75 Ft | |
| Other | 11.83 Ft x 7.50 Ft | |
| Kitchen | 16.58 Ft x 10.00 Ft | |
| Dining room | 16.58 Ft x 10.00 Ft | |
| Living room | 14.42 Ft x 15.00 Ft | |
| 2pc Bathroom | 5.08 Ft x 4.83 Ft |
Upper Level
| Room | Dimensions | Features |
|---|---|---|
| Loft | 13.42 Ft x 20.08 Ft | |
| Laundry room | 5.08 Ft x 7.58 Ft | |
| Primary Bedroom | 14.42 Ft x 15.00 Ft | |
| Bedroom | 12.00 Ft x 11.83 Ft | |
| Bedroom | 12.17 Ft x 11.17 Ft | |
| Bedroom | 10.50 Ft x 12.17 Ft | |
| 5pc Bathroom | 4.92 Ft x 10.67 Ft | |
| 5pc Bathroom | 20.00 Ft x 8.83 Ft |
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
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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
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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
-0.97%
Cap rate
4.67%
GRM
13.9
Break-even rent
$4,936
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 Jun 19, 2026.
Location of this listing. Distances are straight-line.
Full neighbourhood intelligence (schools, halal, mosques, transit) is still building for this address.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.