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Investment signal

$2,249,900

2445 Godfrey Rd

Beds

Baths

Sqft

—

Year

1987

Location

See the block, not just the house.

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About this home

This spectacular 20+ acre property with lake frontage features a custom-built 2,342 sq. ft. 3-bedroom rancher, designed for wheelchair accessibility, complete with an attached 2-car garage. Enjoy the tranquil setting with a beautiful stream running behind the house. The estate also includes an additional 2,188 sq. ft. 2-bedroom house, a 1,129 sq. ft. workshop, an 870 sq. ft. undercover RV carport, a 714 sq. ft. shop/barn, and several other buildings. The main house offers 3 bedrooms, 2 bathrooms, a spacious open-concept living room, dining room, and laundry area. Take in the expansive views of the acreage from the wraparound covered patio. The large workshop is versatile, ready for any project or use you envision. The second home, currently tenanted, provides 2 bedrooms, 1 bathroom, and 2 decks, making it perfect for extended family or generating rental income. The property is adorned with rolling fields, a scenic viewpoint, numerous trees, and fenced areas suitable for livestock. It boasts easy access to Nanaimo while maintaining a completely rural ambiance. Located in the ALR, this prime location is just minutes from town. (id:65958)

Subtype: Single Family
Structure: House
Community: Extension
Common interest: Freehold
Living area: 2,342 square feet
Lot size: 20.75 acres
Lot dimensions: 20.75
Parking: 10 total
Fireplace: 2
On market: Aug 1, 2025
Status changed: Apr 16, 2026
Annual tax: $1,973
Zoning: Agricultural
Photos: 88
MLS#: 1009020
Area: NANAIMO

Features and systems

Appliances

WasherRefrigeratorDishwasherStoveDryer

Heating

Heat PumpElectricWood

Cooling

Air Conditioned

Lot

AcreageCentral locationLevel lotPrivate settingPartially clearedOther

View

Lake viewMountain viewValley view

Waterfront

Waterfront on lake

Negative cash flow ~$4,278/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)2026 default 5.49% — adjust to your rate holdAmortization (years)

Cash on cash

-11.41%

Cap rate

3.61%

GRM

16.7

Break-even rent

$15,754

Financing

Down payment$449,980

Loan amount$1,799,920

Mortgage$11,042/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$1,031

Insurance$80

Maintenance$1,875

CapEx reserve$937

Vacancy loss$563

Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 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.

Lifestyle nearby

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

Mortgage estimate

Estimated $11,042/mo at 5.49% with 20% down, 25-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 16, 2026.