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Saskatoon · Single Family · under $600,000 · 4+ bed · 1+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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2406 Preston AVENUE S
LEGAL BASEMENT SUITE! Welcome to 2406 Preston Avenue South, ideally located in a prime east-side location close to schools, shopping, parks, public transit, and all amenities. Whether you're looking for a turnkey revenue property or a home with mortgage-helping income, this property is an excellent opportunity. The bright main floor features an open-concept layout with a beautifully updated kitchen, spacious living area with a fireplace, and three generous bedrooms. The legal basement suite offers two large bedrooms, a den, an open-concept living space, and an impressive bathroom. Both the main floor and basement have separate laundry facilities, providing convenience and privacy. Outside, you'll find a large backyard with a detached garage, parking, separate entrances, and individually fenced yard areas for both the main floor and basement suite. Numerous upgrades have been completed over the years, including newer shingles, kitchen, and many of the appliances.An added bonus is the potential for this property to qualify for CM1 (Corridor Main Street) zoning through the City of Saskatoon, offering excellent future redevelopment potential (buyer to verify with the City). This is a fantastic opportunity to own a well-maintained home with a legal basement suite in one of Saskatoon's most desirable east-side locations. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Den | 11.2 × 8.6 feet | |
| Bedroom | 11.2 × 12.8 feet | |
| Bedroom | 13 × 8 feet | |
| 4pc Bathroom | X x X | |
| Laundry room | X x X | |
| Kitchen | 5 × 7 feet | |
| Living room | 13 × 10.7 feet |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Laundry room | X x X | |
| Living room | 13.5 × 19.1 feet | |
| Dining room | 11.1 × 6.5 feet | |
| Kitchen | 11.6 × 11.2 feet | |
| 4pc Bathroom | X x X | |
| Primary Bedroom | 11.3 × 12.2 feet | |
| Bedroom | 9.11 × 8.9 feet | |
| Bedroom | 8.3 × 10 feet |
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
-1.24%
Cap rate
4.62%
GRM
13.9
Break-even rent
$3,419
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 30, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
Location of this listing. Distances are straight-line.
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