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315 16 Street N
Beds
4
Baths
2
Sqft
745
Year
1948
Type
Single Family
On market
6d
Whether you're a first-time buyer looking to offset your mortgage, an investor searching for your next up/down suite project, or a hands-on homeowner with a vision, this property offers plenty of opportunity. With four bedrooms total, updated major components, a refreshed yard perfect for kids and pets, and room to personalize over time, there's plenty of space to live comfortably today while building equity for tomorrow. The main floor features 2 bedrooms, a full 4-piece bathroom, a convenient galley kitchen, and a bright living/dining room combination, all complemented by classic hardwood flooring. Downstairs you'll find an additional 2 bedrooms and a 3-piece bathroom, plus a separate entry and 220A service already wired to the basement. A substantial unfinished area provides exciting development potential; create a rec room, workshop, or take advantage of the layout to add a living room and kitchen space for a future suite configuration (buyer to verify all requirements and approvals). Several key updates have already been completed, including the roof and hot water tank, while the yard has undergone a major transformation. A large, aging tree was removed and replaced with fresh sod, eliminating invasive quack grass and creating a clean outdoor space ready to enjoy. Outside, the single detached garage currently offers parking and storage with a manual overhead door. For the garage enthusiast or hobbyist, this could be the ideal site to design and build the dream garage-shop you've always wanted (buyer to complete their own due diligence with the City of Lethbridge regarding development options). Packed with potential and offering multiple paths to add value, this is an affordable opportunity for buyers who can see beyond the ordinary and envision what's possible. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| 3pc Bathroom | .00 Ft x .00 Ft | |
| Bedroom | 10.75 Ft x 11.25 Ft | |
| Bedroom | 8.42 Ft x 11.42 Ft | |
| Recreational, Games room | 17.50 Ft x 17.33 Ft | |
| Furnace | 8.50 Ft x 11.17 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| 4pc Bathroom | .00 Ft x .00 Ft | |
| Bedroom | 11.58 Ft x 9.25 Ft | |
| Dining room | 5.92 Ft x 6.33 Ft | |
| Kitchen | 8.25 Ft x 11.67 Ft | |
| Primary Bedroom | 11.58 Ft x 11.67 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
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
14.83%
Cap rate
7.83%
GRM
9.3
Break-even rent
$2,055
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 9, 2026.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Lethbridge. 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.