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Investment signal

$349,500

1776 ORME Street

Save this home

Beds

Baths

Sqft

—

Year

1961

Type

Single Family

Suite

Suite potential

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Location nearby

Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Merritt. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

About this home

Welcome to a new opportunity that's filled with the P word - potential. Upstairs has been tastefully updated with vaulted ceilings, a large open plan on the front half of the house, with 3 generously sized bedrooms and 2 bathrooms on the back half of the home. The primary offers a lot of living space with a full ensuite bathroom. New roof in 2023! Upstairs also has access to a detached shop, and roof top patio for taking in the Merritt sights. Downstairs you'll find the sweat equity waiting for you with the potential for multi-generational living or an income suite. 2, possibly 3 bedrooms, a bathroom, and hook ups for a kitchen complete with separate entrance into the basement with private side yard makes this an enticing investment opportunity. Property is a corner lot with a laneway which adds to the intrigue on a 6000 sqft lot. A great chance for a handy man or first time buyer who's handy to earn some equity. For more information or to book a showing contact the listing agent, Jared Thomas. (id:65958)

Subtype: Single Family
Architectural style: Ranch
Structure: House
Community: Merritt
Common interest: Freehold
Living area: 2,967 square feet
Lot size: 0.14 acres
Lot dimensions: 0.14
Parking: 1 total
Stories: 2
Fireplace: 1
On market: Apr 20, 2026
Status changed: Apr 20, 2026
Annual tax: $3,750
Photos: 31
MLS#: 10383465
Area: MERRITT

Features and systems

Parking

Attached Garage

Basement

Full

Appliances

RefrigeratorDishwasherRangeWasher & Dryer

Heating

Forced air

Exterior

Vinyl sidingOther

Flooring

Laminate

Roof

Asphalt shingleUnknown

Positive cash flow ~$1,041/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)Default 4.5% — adjust to your rate holdAmortization (years)

Cash on cash

17.88%

Cap rate

8.44%

GRM

8.8

Break-even rent

$2,204

Financing

Down payment$69,900

Loan amount$279,600

Mortgage$1,417/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$160

Insurance$80

Maintenance$291

CapEx reserve$146

Vacancy loss$165

Estimates 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.

Mortgage estimate

Estimated $1,417/mo at 4.5% with 20% down, 30-yr amortization.Estimate only — actual payment varies by qualification + insurance.

Listing brokerage

Listing brokerage on file

Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 20, 2026.