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202 3 Avenue E
Beds
4
Baths
2
Sqft
1,639
Year
1953
Type
Single Family
On market
50d
Welcome to this wonderful bungalow offering excellent value and versatility! Whether you're looking for a smart investment or a place to call home with added income potential, this property checks all the boxes. The main floor features a bright and functional layout with 2 comfortable bedrooms and a full bathroom, perfect for everyday living. Numerous upgrades have already been taken care of, including new windows and central A/C, while the furnace and hot water tank are only a few years old—providing peace of mind for years to come. Downstairs, you’ll find an illegal basement suite complete with its own private entry and separate laundry, making it ideal for tenants or extended family. This setup creates the perfect “mortgage helper”—live comfortably upstairs while generating income from the lower level, or rent out both spaces as a strong revenue property. Outside, the double detached garage offers plenty of room for parking, storage, or a workshop space. Location is key, and this home delivers—situated in a highly desirable area within walking distance to schools, the arena, and the pool. Convenience and lifestyle come together seamlessly here. Whether you're a first-time buyer, investor, or someone looking to offset your mortgage, this is an opportunity you won’t want to miss. Contact your REALTOR® and book a showing today! (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Kitchen | 7.58 Ft x 11.25 Ft | |
| Recreational, Games room | 12.50 Ft x 27.25 Ft | |
| Bedroom | 10.67 Ft x 12.58 Ft | |
| Bedroom | 10.83 Ft x 12.50 Ft | |
| 3pc Bathroom | 4.83 Ft x 11.25 Ft | |
| Laundry room | 5.92 Ft x 12.92 Ft | |
| Furnace | 7.58 Ft x 13.50 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Living room | 13.50 Ft x 20.33 Ft | |
| Kitchen | 10.83 Ft x 20.42 Ft | |
| Dining room | 10.92 Ft x 12.42 Ft | |
| Primary Bedroom | 11.92 Ft x 13.33 Ft | |
| 4pc Bathroom | 7.00 Ft x 8.83 Ft | |
| Bedroom | 12.08 Ft x 12.17 Ft | |
| Family room | 11.33 Ft x 17.67 Ft | |
| Sunroom | 12.50 Ft x 15.50 Ft | |
| Laundry room | 11.08 Ft x 11.58 Ft | |
| Foyer | 4.25 Ft x 8.58 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
18.95%
Cap rate
8.65%
GRM
8.6
Break-even rent
$1,903
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 16, 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 Bow Island. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.