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215 Carmel Close NE
First time home buyers or investers, Welcome to what could be your new home at 215 Carmel Close in Monterey Park and prepare to be impressed! Nestled away on a quiet close, this charming bi-level home boasts 1861 square feet developed and is highlighted by a separate side walk-up basement entrance to the illegal basement suite. This home has a total of 6 bedrooms and 3 bathrooms, ensuring ample space for everyone. For investors, upstairs tenants are paying $1900 plus 50% utilities and Basement tenants are paying $1600 plus 50% utilities. Recently treated to a fresh coat of paint throughout, New kitchen, stainless steel appliances, new flooring and new windows. This home welcomes you with a bright and airy atmosphere. The main floor features an open floor plan that seamlessly connects the kitchen, spacious dining area, and inviting living room. The three bedrooms on this level provide flexibility, while the primary bedroom boasts a private 3-piece ensuite. Separate laundry for the main floor. Venturing downstairs to suite, you will have a spacious kitchen, 2nd living room. A full bathroom adds to the convenience, Plus 3 more bedrooms that can be easily configured to meet your needs. Although it is also easy to picture the entire floor being transformed into its own separate suite. Fenced spacious backyard for your summer activities. This location ensures easy access to transportation and major roads, including Stoney Trail, McKnight Blvd, and 16th Avenue. The greater Monterey Park area offers an array of grocery, restaurants, and amenities just a short distance away. Do not miss the chance to make this wonderful property yours by scheduling a showing with your favourite Realtor. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Bedroom | 9.00 Ft x 10.75 Ft | |
| Bedroom | 9.67 Ft x 9.92 Ft | |
| Bedroom | 8.17 Ft x 9.33 Ft | |
| Other | 8.00 Ft x 10.33 Ft | |
| 4pc Bathroom | 4.92 Ft x 7.33 Ft | |
| Family room | 9.42 Ft x 13.00 Ft | |
| Furnace | 7.58 Ft x 13.17 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Dining room | 7.50 Ft x 8.83 Ft | |
| Living room | 10.42 Ft x 12.75 Ft | |
| Kitchen | 7.67 Ft x 11.00 Ft | |
| Primary Bedroom | 10.33 Ft x 13.42 Ft | |
| Bedroom | 8.58 Ft x 10.08 Ft | |
| Bedroom | 8.42 Ft x 12.33 Ft | |
| 3pc Bathroom | 5.50 Ft x 6.75 Ft | |
| 4pc Bathroom | 6.67 Ft x 7.58 Ft | |
| Laundry room | 2.92 Ft x 5.67 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
-1.25%
Cap rate
4.62%
GRM
13.9
Break-even rent
$3,783
Financing
Operating expenses (monthly)
Save this analysis — go Pro (free)
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 5, 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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