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Cochrane · Single Family · under $650,000 · 3+ bed · 3+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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224 River Heights Drive
INVESTOR ALERT !!!! Welcome to this stunning, sun-filled, and thoughtfully designed fully finished semi-detached home, complete with a walkout illegal basement suite. UPSTAIRS IS RENTED FOR $2550/MONTH+60% UTILITIES AND BASEMENT IS RENTED FOR $1,300/MONTH+40% UTILITIES. It is located in one of Cochrane’s most sought-after communities—Rivercrest. Framed by breathtaking mountain views and just steps from Bow Valley School, this home offers an exceptional setting for families and investors alike. Boasting over 2,100 sq. ft. of well-planned living space, this home delivers a complete package featuring 4 bedrooms, 3.5 bathrooms, a main-floor den, an open-concept layout, an upgraded kitchen, a walkout basement, and an oversized double garage (22'3" x 24'). As you step inside, you are immediately welcomed by a bright and inviting living area, enhanced by large windows and automated blinds for added comfort and convenience. The dining space flows effortlessly into the impressive chef-inspired kitchen, showcasing quartz countertops, premium appliances, full-height cabinetry, elegant gold hardware, and a matching gold faucet. A spacious centre island doubles as the perfect breakfast bar. Tucked away on the main floor is a private den—ideal for a home office or study. Step outside onto the upper deck, the perfect place to enjoy your morning coffee while taking in the scenic surroundings. A side staircase leads down to the backyard, offering additional outdoor space for entertaining or relaxation. Upstairs, you’ll find a charming tech or kids’ play nook, followed by three generously sized bedrooms, many with beautiful valley views. The primary suite features a well-appointed ensuite with dual vanities, a walk-in closet, and a glass-enclosed standing shower. A full shared bathroom and stacked laundry complete this level. The fully finished walkout basement is a standout feature, offering a bright and spacious living area with large windows, a complete kitchen with quartz coun tertops and stainless steel appliances, a modern upgraded bathroom, and a sunny, well-sized bedroom. A separate laundry set adds further functionality and appeal. Ideally located with quick access to Calgary (20 minutes), Downtown Calgary (30 minutes), and Canmore (1 hour), this home offers the perfect balance of scenic living and everyday convenience. With strong rental potential estimated at $3,800–$4,200 per month, this property presents an outstanding opportunity for homeowners and investors alike. Don’t miss your chance to make Cochrane home. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| 4pc Bathroom | 8.00 Ft x 4.92 Ft | |
| Bedroom | 10.08 Ft x 12.75 Ft | |
| Kitchen | 9.17 Ft x 8.33 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Bedroom | 9.00 Ft x 10.00 Ft | |
| Living room | 16.00 Ft x 10.00 Ft | |
| Dining room | 10.42 Ft x 6.75 Ft | |
| Living room | 12.75 Ft x 16.67 Ft | |
| 2pc Bathroom | 4.92 Ft x 5.42 Ft | |
| Kitchen | 13.58 Ft x 12.67 Ft | |
| Den | 13.83 Ft x 5.42 Ft | |
| Dining room | 9.00 Ft x 11.25 Ft |
Second level
| Room | Dimensions | Features |
|---|---|---|
| 4pc Bathroom | 8.33 Ft x 5.00 Ft | |
| Laundry room | 6.25 Ft x 5.00 Ft | |
| Bedroom | 10.00 Ft x 9.08 Ft | |
| 4pc Bathroom | 12.25 Ft x 5.42 Ft | |
| Primary Bedroom | 13.75 Ft x 13.00 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
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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
-1.25%
Cap rate
4.61%
GRM
13.9
Break-even rent
$3,602
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 8, 2026.
Location of this listing. Distances are straight-line.
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Buyer-fit signals
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