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2408 Richmond Road SW
2408 Richmond Road SW. Upscale, fully renovated up/down bungalow in a premium Calgary neighborhood. 3 bedrooms up, with another self-contained and fully legal 3-bedroom basement suite below. Immaculately maintained and updated in a raised bungalow format allowing the lower level to have an excellent bright & airy feel. Owner occupied upper level, with over 1,400 Sq Ft of living space. Rustic, rough-hewn plank style LVP flooring runs throughout, complemented by many large windows. Entertainer's kitchen with modern high gloss full height cabinetry, marble style quartz countertops & island, & deluxe stainless steel appliance package. Generously sized primary bedroom with full ensuite. Downstairs, the self-contained lower unit offers a separate staircase & entrance along with rarely available 3 bedroom plan which significantly broadens the scope of potential tenants & income. Both units have separate heating with on-demand hot water (upper also has central A/C). Out back, a private and sunny well manicured rear space with South exposure with both upper deck, lower deck/patio, & attractive landscaping. Single detached garage with additional parking pad space ideal for large trucks, trailers, or boats. This multifaceted and turn-key inner city property allows for many uses and living styles, with the added future development value of R-CG zoning (with the option for H-GO). Already in an approved LAP (local area plan), this option for H-GO zoning allows for greater build height, density, and stacked developments. Next door (2404/2406) can also be purchased for a combined 145' of total frontage! Located in a prime location encompassing all the inner city has to offer including multiple schools nearby, shopping, trendy nightlife and restaurants, and easy access to major amenities like MRU, U of C, SAIT, Foothills Hospital, Chinook Mall, & more! (id:65958)
Main level
| Room | Dimensions | Features |
|---|---|---|
| Living room | 15.33 Ft x 21.08 Ft | |
| Dining room | 10.33 Ft x 13.92 Ft | |
| Kitchen | 13.08 Ft x 13.58 Ft | |
| Primary Bedroom | 13.42 Ft x 16.00 Ft | |
| Bedroom | 12.33 Ft x 13.58 Ft | |
| Bedroom | 9.17 Ft x 10.00 Ft | |
| 4pc Bathroom | .00 Ft x .00 Ft | |
| 4pc Bathroom | .00 Ft x .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
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
-0.89%
Cap rate
4.69%
GRM
13.9
Break-even rent
$5,694
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 21, 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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