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Calgary · Single Family · under $875,000 · 3+ bed · 1+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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232 21 Avenue NE
Welcome to Tuxedo Park—where charm, flexibility, and opportunity come together. This character bungalow sits on a 40 x 120 ft R-CG lot and offers incredible potential for homeowners and investors alike. With two legal suites, you can enjoy strong rental income, live in one unit while renting the other, or explore future redevelopment options in this sought after inner city location.Step inside the main floor and you’re immediately greeted by the warmth of original hardwood floors dating back to 1945, paired beautifully with thoughtful modern updates. The bright and inviting living room is filled with natural light from multiple windows and enhanced by fresh paint and updated lighting. Just down the hall, you’ll find new checkerboard tile leading past a brand new LG stacked washer/dryer and into the fully renovated kitchen, complete with stainless steel appliances, a gas range, new cabinetry, countertops, and fixtures. A charming bay window overlooks the expansive backyard, featuring a fire pit and a large double detached garage, while the adjacent deck offers the perfect spot to relax or entertain.The main floor includes two bedrooms that maintain their original character with hardwood flooring, doors, and hardware, all complemented by a refreshed, modern palette. The fully renovated bathroom blends old and new seamlessly, showcasing a beautifully tiled shower alongside a classic clawfoot tub.With its own private side entrance, the legal basement suite provides a comfortable and functional layout. Downstairs you’ll find two additional bedrooms, including a spacious primary with its own den, ideal for a home office. The updated kitchen and dining area feature new laminate flooring and a more open, efficient design, while the 3-piece bathroom offers convenient cheater ensuite access. The lower level also includes its own stacked washer/dryer for added independence.To top it all off this home is being sold fully furnished! Everything you see is included, making it a true turnkey opportunity for investors or anyone looking for a seamless move-in or rental setup. Call to book a showing today!With an improved price and unmatched versatility, this is your chance to secure a property that delivers both immediate value and long-term potential in one of Calgary’s most desirable inner-city communities. *Open House Saturday March 21 from 2-4:00 p.m.* (id:65958)
Lower level
| Room | Dimensions | Features |
|---|---|---|
| 3pc Bathroom | 7.67 Ft x 8.92 Ft | |
| Bedroom | 11.25 Ft x 9.25 Ft | |
| Bedroom | 11.75 Ft x 9.58 Ft | |
| Den | 11.75 Ft x 11.00 Ft | |
| Other | 11.75 Ft x 10.75 Ft | |
| Living room | 11.75 Ft x 9.25 Ft | |
| Furnace | 5.75 Ft x 8.92 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| 4pc Bathroom | 7.83 Ft x 8.58 Ft | |
| Bedroom | 10.17 Ft x 11.25 Ft | |
| Primary Bedroom | 10.25 Ft x 11.33 Ft | |
| Foyer | 6.92 Ft x 3.83 Ft | |
| Other | 13.25 Ft x 10.25 Ft | |
| Living room | 12.25 Ft x 15.33 Ft | |
| Laundry room | 3.25 Ft x 3.08 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
-1.04%
Cap rate
4.66%
GRM
13.9
Break-even rent
$4,868
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 Jul 3, 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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350 m away
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