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Calgary · Single Family · under $1,125,000 · 6+ bed · 4+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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297 Homestead Terrace NE
Welcome to 297 Homestead Terrace NE, a professionally designed corner lot showhome offering 2,659 sq. ft. of above-grade living space plus a fully developed 2-bedroom legal basement suite. With 7 bedrooms and 5 bathrooms, this home provides exceptional space, flexibility, and investment potential for large or multi-generational families.This property features a leaseback opportunity, allowing the builder to lease the home from the purchaser for approximately two years at 6% of the purchase price, providing reliable rental income while the builder maintains the property in showhome condition. Immediate possession is available, with key release anticipated early to mid-2027.The main floor showcases a bright open-concept layout finished with luxury vinyl plank flooring throughout the main level, stairwell, and basement. The kitchen is designed for both style and function, featuring 1-¼” quartz countertops with waterfall island, built-in appliances, gas cooktop, wood range hood, and upgraded glass cabinetry extended to the ceiling. A separate spice kitchen with gas range and upgraded chimney hood fan provides added convenience for cooking and entertaining. The living room is centered around an elegant electric fireplace with tile surround and mantel, creating a warm focal point. A main floor bedroom with full bathroom and a versatile flex room offer excellent options for guests, a home office, or multi-generational living.Upstairs, the home offers 5 bedrooms above grade, including dual primary suites designed for comfort and privacy. The main primary bedroom features a spacious walk-in closet and a beautifully upgraded ensuite with double vanity, soaking tub, and extended glass shower with bench. A central bonus room with upgraded spindle railing provides additional living space perfect for relaxing or entertaining. Tile flooring enhances the upper bathrooms and laundry room, while plush carpet provides comfort throughout the bedrooms. The upper laundry room inclu des built-in cabinetry, countertop workspace, and sink for everyday convenience.The fully finished 2-bedroom legal basement suite includes a separate entrance, full kitchen, living area, bathroom, laundry, and durable luxury vinyl plank flooring, offering excellent potential for rental income or private accommodations.Outdoor living is enhanced by a 12’ x 10’ rear deck with steps to grade, while the south-facing front exposure and front yard landscaping contribute to attractive curb appeal. Additional highlights include central air conditioning for the main and upper floors, high ceilings, quartz counters throughout, and a 20’ x 21’ double attached garage.Located near parks, playgrounds, walking paths, and future amenities, this beautifully finished showhome offers a rare combination of space, upgrades, and income potential in the growing community of Homestead. Includes all furniture, window coverings and appliances . Excludes the art/decor and sonos sound system. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Kitchen | 6.25 Ft x 12.08 Ft | |
| Dining room | 10.00 Ft x 11.08 Ft | |
| Living room | 10.50 Ft x 11.08 Ft | |
| Bedroom | 9.83 Ft x 11.00 Ft | |
| Bedroom | 10.83 Ft x 9.83 Ft | |
| Laundry room | 6.25 Ft x 6.33 Ft | |
| 4pc Bathroom | 5.00 Ft x 9.92 Ft | |
| Furnace | 10.08 Ft x 12.33 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Kitchen | 10.67 Ft x 9.50 Ft | |
| Dining room | 8.00 Ft x 10.00 Ft | |
| Living room | 15.83 Ft x 15.00 Ft | |
| Bedroom | 10.42 Ft x 10.00 Ft | |
| Other | 10.50 Ft x 9.25 Ft | |
| 3pc Bathroom | 8.50 Ft x 5.00 Ft |
Upper Level
| Room | Dimensions | Features |
|---|---|---|
| Primary Bedroom | 16.17 Ft x 15.00 Ft | |
| Other | 5.00 Ft x 11.00 Ft | |
| 5pc Bathroom | 16.17 Ft x 9.67 Ft | |
| Bedroom | 10.00 Ft x 13.00 Ft | |
| Other | 6.00 Ft x 5.67 Ft | |
| 4pc Bathroom | 4.92 Ft x 10.83 Ft | |
| Bedroom | 11.00 Ft x 10.00 Ft | |
| Bedroom | 10.00 Ft x 11.00 Ft | |
| Loft | 14.67 Ft x 13.75 Ft | |
| 4pc Bathroom | 4.92 Ft x 10.83 Ft | |
| Laundry room | 5.33 Ft x 10.58 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
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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
-0.86%
Cap rate
4.69%
GRM
13.9
Break-even rent
$6,331
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.
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 Apr 30, 2026.
Location of this listing. Distances are straight-line.
Key nearby — mosques, halal & Islamic schools
Mosque
Al-Hedaya Islamic Centre
1.6 km away
Al Madinah Islamic Centre
2.1 km away
Hazrat Bilal Islamic Center
2.3 km away
3.9 km away
6.2 km away
Elementary
Calgary Islamic School – Akram Jomaa Campus
Islamic · K–9
6.4 km away
Calgary Islamic School – Omar Bin Al-Khattab Campus
Islamic · K–9
9.6 km away
10.3 km away
Halal grocery
Shaheen Grocery, Bakery & Halal Meat
3.5 km away
Amir Halal Meats & Grocery
9.6 km away
Distances are straight-line (not drive time). Full neighbourhood intelligence (schools, transit, parks) builds automatically.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.