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196 Fonda Drive SE
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** 3-PLEX RENTAL ** Rare investment opportunity, this property has 3 SELF-CONTAINED UNITS (main floor 3 bedroom suite plus 2 illegal studio suites in basement) total of 3 kitchen, 3 full bathrooms, 2 laundry areas (main floor suite has in-unit laundry and other 2 share common area with laundry area) and 3 NEW GRAVEL PARKING PADS front driveway that can park 3 cars on the property (tandem on left side, and 1 on the right side). Upgrades include LUXURY SHOWER PANEL SYSTEM AT ALL BATHTUBS, newer vinyl plank flooring throughout, STONE COUNTER-TOPS, and new paint. Perfect for an owner family to live upstairs since it has 3 bedrooms with a spacious kitchen, dining room, and living room with a balcony overlooking the front yard. Exceptional rentals for the 2 studio lower units (illegal) that's great for young couples or individual students and workers, fetching up to $700-850 per unit. Note each unit has bright large windows because the structure is a BI-LEVEL with common entrance front door and then each unit door respectively. Don't miss out on this rare LIVE UP/ RENT DOWN smart investment. Appliances include 3 stoves, 3 fridges, 2 washers and 2 dryers, and 3 hood fans. QUIET STREET, located close to all levels of schools, public transportation, and shopping, this is an AMAZING PROPERTY! (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Other | 3.30 M x 3.65 M | |
| Living room/Dining room | 4.60 M x 5.50 M | |
| 4pc Bathroom | 1.52 M x 2.80 M | |
| Other | 2.82 M x 3.65 M | |
| Living room/Dining room | 3.65 M x 3.96 M | |
| Laundry room | 1.64 M x 2.72 M | |
| 4pc Bathroom | 1.52 M x 2.30 M |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Living room | 3.64 M x 4.62 M | |
| Dining room | 3.15 M x 3.20 M | |
| Bedroom | 2.74 M x 2.92 M | |
| Bedroom | 2.74 M x 3.82 M | |
| Primary Bedroom | 3.05 M x 3.40 M | |
| Kitchen | 2.75 M x 3.20 M | |
| 4pc Bathroom | 2.20 M x 2.30 M |
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
-3.50%
Cap rate
4.16%
GRM
14.8
Break-even rent
$2,661
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.
Location of this listing. Distances are straight-line.
Key nearby — mosques, halal & Islamic schools
Mosque
603 m away
3.7 km away
5.1 km away
Al Madinah Islamic Centre
7.5 km away
Al-Hedaya Islamic Centre
8.3 km away
Elementary
Calgary Islamic School – Omar Bin Al-Khattab Campus
Islamic · K–9
1.1 km away
1.7 km away
Calgary Islamic School – Akram Jomaa Campus
Islamic · K–9
3.5 km away
Halal grocery
Amir Halal Meats & Grocery
1.1 km away
Shaheen Grocery, Bakery & Halal Meat
5.3 km away
Distances are straight-line (not drive time). Full neighbourhood intelligence (schools, transit, parks) builds automatically.