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Chestermere · Single Family · under $925,000 · 3+ bed · 3+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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284 Rainbow Falls Way
Imagine starting your day with a coffee on the back deck as the sun rises over the canal, watching the walking paths come to life while nothing but green space stretching out in front of you. Tucked away on a quiet street in one of Chestermere's most desirable locations, this beautifully upgraded walkout home offers the perfect balance of peaceful surroundings and family-friendly living.Offering over 2,700 square feet of thoughtfully designed living space with four bedrooms and 3.5 bathrooms, this home provides the space and functionality that today's families are looking for. The bright, open-concept main floor is filled with natural light and welcomes you with wide plank flooring, a cozy gas fireplace, and a stunning kitchen that truly is the heart of the home. Complete with full-height cabinetry, granite countertops, a large center island, a walk-in pantry, and an abundance of storage, it's the perfect place for everything from busy weekday mornings to holiday celebrations. Just beyond, the dining area flows effortlessly onto the expansive upper deck where every meal comes with a view.Upstairs, the spacious primary suite offers a peaceful escape at the end of the day with its custom feature wall, walk-in closet, and beautiful ensuite. Two additional bedrooms, a full bathroom, and a conveniently located upper laundry room complete the second level, creating a practical layout that works beautifully for everyday family life.The fully developed walkout basement extends your living space even further. Whether you're hosting friends, enjoying family movie nights, creating a home gym, or welcoming overnight guests, the spacious recreation room, fourth bedroom, and full bathroom offer incredible flexibility to suit your lifestyle.Outside, the backyard is truly something special. Backing directly onto the canal and picturesque green space, it offers year-round beauty, privacy, and endless opportunities to explore the surrounding pathways. Thoughtful upgrades incl ude central air conditioning, a heated and insulated garage, an irrigation system, updated flooring, fresh exterior paint, and beautifully landscaped grounds. Every detail has been carefully considered so you can simply move in and enjoy.Located just minutes from schools, parks, shopping, and the wonderful recreation of Chestermere Lake, this exceptional home offers more than just a place to live—it offers the lifestyle you've been waiting for. (id:65958)
Lower level
| Room | Dimensions | Features |
|---|---|---|
| 3pc Bathroom | 4.92 Ft x 9.25 Ft | |
| Bedroom | 15.00 Ft x 10.67 Ft | |
| Recreational, Games room | 32.50 Ft x 17.92 Ft | |
| Furnace | 11.75 Ft x 9.25 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| 2pc Bathroom | 4.83 Ft x 4.58 Ft | |
| Dining room | 9.58 Ft x 16.25 Ft | |
| Foyer | 6.58 Ft x 13.83 Ft | |
| Kitchen | 12.17 Ft x 16.25 Ft | |
| Family room | 15.58 Ft x 12.75 Ft | |
| Den | 10.08 Ft x 10.00 Ft |
Second level
| Room | Dimensions | Features |
|---|---|---|
| 4pc Bathroom | 7.83 Ft x 4.92 Ft | |
| 5pc Bathroom | 11.17 Ft x 15.08 Ft | |
| Bedroom | 12.17 Ft x 9.92 Ft | |
| Bedroom | 12.17 Ft x 9.92 Ft | |
| Laundry room | 5.42 Ft x 6.00 Ft | |
| Primary Bedroom | 16.42 Ft x 13.42 Ft | |
| Other | 8.42 Ft x 7.42 Ft |
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
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Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
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Suite legality / potential
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Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
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Insurance estimate
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Commute
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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
-0.96%
Cap rate
4.67%
GRM
13.9
Break-even rent
$5,269
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.
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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.
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Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Jul 10, 2026.
Location of this listing. Distances are straight-line.
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Buyer-fit signals
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