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Investment signal

$199,900

245 Park Drive Unit# 16

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Beds

Baths

Sqft

—

Year

1978

Type

Single Family

Suite

Investment signal

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Location nearby

Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Clearwater. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

About this home

Enjoy easy, low-maintenance living in this clean and tidy 2-bedroom, 1-bathroom apartment—perfect for first-time buyers, downsizers, or investors. Ideally located in a central area of Clearwater, this home offers a walkable lifestyle with nearby amenities, sidewalks, and street lighting—making it easy to get around year-round. Inside, you’ll find a well-kept and functional layout that’s move-in ready, offering comfortable living with minimal upkeep. The monthly strata fee of $402.39 provides excellent value, including electricity, water, and common area maintenance, helping keep your monthly expenses simple and predictable. If you’re looking for an affordable, convenient place to call home or a solid investment opportunity, this one is definitely worth a look! Call today for more information or to book a showing. (id:65958)

Subtype: Single Family
Structure: Apartment
Community: Clearwater
Common interest: Condo/Strata
Living area: 838 square feet
Parking: 1 total
Condo/HOA fee: $434.59 monthly
Stories: 1
On market: Apr 8, 2026
Status changed: Apr 26, 2026
Annual tax: $1,359
Photos: 36
MLS#: 10382446
Area: CLEARWATER

Features and systems

Heating

Baseboard heaters

Community

Pet Restrictions

Positive cash flow ~$573/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)Default 4.5% — adjust to your rate holdAmortization (years)

Cash on cash

17.20%

Cap rate

8.31%

GRM

8.8

Break-even rent

$1,297

Financing

Down payment$39,980

Loan amount$159,920

Mortgage$810/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$92

Insurance$80

Maintenance$167

CapEx reserve$83

Vacancy loss$95

Estimates 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.

Mortgage estimate

Estimated $810/mo at 4.5% with 20% down, 30-yr amortization.Estimate only — actual payment varies by qualification + insurance.

Listing brokerage

Listing brokerage on file

Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 26, 2026.