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257 Canal Street
Beds
6
Baths
4
Sqft
2,594
Year
2009
Type
Single Family
On market
56d
Spacious Meridian Beach home offering over 2,500 sq ft, a carriage house with guest suite loft, and Gull Lake access with potential boat slip—ideal for year-round living or the perfect summer retreat.Located in one of Central Alberta’s most sought-after lake communities, this Craftsman-style home blends character, comfort, and flexibility just steps from the water. The inviting front veranda sets the tone, while the interior offers a bright, open-concept main floor with hardwood flooring, large windows, and a stone-faced fireplace that anchors the living space.The kitchen is designed for both everyday living and entertaining, featuring a large central island, custom cabinetry, subway tile backsplash, farmhouse sink, and stainless steel appliances. It flows seamlessly into the dining area with built-in cabinetry and excellent natural light, creating a warm and functional gathering space.Upstairs, you’ll find spacious bedrooms with vaulted ceilings, including a primary bedroom with its own fireplace and generous layout. The fully developed basement adds additional living space with a large recreation area, bedrooms, and a full bath—ideal for family or guests.A standout feature of this property is the **detached carriage house-style garage with an upper-level guest suite loft**, complete with its own living space, kitchen, bedroom area, and bathroom. This flexible space is well-suited for extended family, long-term guests, or private accommodations.Practical elements include a functional mudroom with built-ins, main floor laundry, and ample storage throughout. The long driveway and garage provide plenty of room for vehicles, boats, and recreational equipment.Meridian Beach offers a true lake lifestyle with easy access to Gull Lake, including boating, swimming, and year-round outdoor recreation. Conveniently located within reach of Ponoka, Lacombe, and Red Deer, this property offers space, flexibility, and lake living in a highly desirable setting. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| 4pc Bathroom | 2.19 M x 2.72 M | |
| Bedroom | 3.33 M x 4.30 M | |
| Bedroom | 3.33 M x 3.58 M | |
| Recreational, Games room | 10.46 M x 5.39 M | |
| Storage | 3.35 M x 1.17 M | |
| Furnace | 2.31 M x 3.70 M |
Main level
| Room | Dimensions | Features |
|---|---|---|
| 4pc Bathroom | 2.32 M x 2.60 M | |
| Bedroom | 3.50 M x 3.77 M | |
| Dining room | 3.50 M x 4.57 M | |
| Foyer | 2.93 M x 3.89 M | |
| Kitchen | 3.49 M x 4.72 M | |
| Laundry room | 2.32 M x 2.30 M | |
| Living room | 5.77 M x 5.55 M | |
| Other | 3.51 M x 2.13 M |
Upper Level
| Room | Dimensions | Features |
|---|---|---|
| 5pc Bathroom | 5.79 M x 2.41 M | |
| Bedroom | 3.49 M x 3.80 M | |
| Den | 3.59 M x 3.72 M | |
| Primary Bedroom | 4.69 M x 6.90 M |
Unknown
| Room | Dimensions | Features |
|---|---|---|
| 4pc Bathroom | 2.47 M x 1.52 M | |
| Bedroom | 4.92 M x 3.50 M | |
| Breakfast | 1.37 M x 2.22 M | |
| Kitchen | 2.22 M x 3.95 M | |
| Living room | 4.95 M x 4.92 M |
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
-0.94%
Cap rate
4.68%
GRM
13.9
Break-even rent
$5,421
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.
Rough ballpark only. Pick a down-payment option, then tap any underlined number below to plug in your real numbers — tax, condo fee, insurance, utilities. Total updates live. Confirm with a mortgage broker before writing an offer.
Cost lines (tax, condo, insurance, utilities) are editable inline above. These two control the mortgage payment math.
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. Suite rental income depends on permits, market rent, and vacancy — confirm with a property manager. Always validate your scenario with a mortgage broker and your insurance provider 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 8, 2026.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Rural Ponoka County. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.