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Herbert · Single Family · under $175,000 · 1+ bed · 1+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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320 Herbert AVENUE
This 1929 raised bungalow with a basement suite offers a great opportunity for homeowners or investors looking for flexibility and income potential. Live on the main floor while the lower suite helps offset your mortgage, or add this property to your investment portfolio. In past years, the home has seen several important updates, including metal roofing and siding, PVC windows, mechanical improvements, and (seller states) an updated ICF basement, adding durability and efficiency. The main level features an open-concept living, dining, and kitchen area with updated cabinetry, granite countertops, refrigerator, gas stove, dishwasher, and durable vinyl tile flooring through much of the space. There are two bedrooms plus an updated four-piece bathroom with convenient in-bath laundry. The lower-level suite offers good natural light with large windows and an open layout. It includes an updated kitchen with granite countertops, stainless steel appliances, vinyl flooring, a den, a three-piece bathroom, plus an energy-efficient furnace (less than 10 years old) and newer hot water heater. Situated on a generous 52.5’ x 197’ lot, the property also features a detached 16’ x 18.5’ shed, ideal for storage, hobbies, or workshop use. Located directly across from the Herbert Integrated Health Facility and close to local amenities including a skating rink, shopping, and everyday services, this property offers affordable small-town living with practical upside. Great potential, key updates, and income possibilities — a smart buy in a welcoming community. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Kitchen/Dining room | 8 × 10.1 feet | |
| Living room | 20.5 × 13.6 feet | |
| 3pc Bathroom | 8.7 × 4.1 feet | |
| Den | 9 × 8.11 feet | |
| Dining nook | 4.1 × 3.2 feet | |
| Other | 9.4 × 5.1 feet |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Enclosed porch | 6.6 × 3.4 feet | |
| Living room | 15 × 12.7 feet | |
| Kitchen/Dining room | 15.6 × 10 feet | |
| 4pc Bathroom | 9.11 × 9.9 feet | |
| Primary Bedroom | 9 × 9.9 feet | |
| Bedroom | 9.9 × 8.1 feet |
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
39.89%
Cap rate
12.84%
GRM
6.1
Break-even rent
$927
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 Apr 11, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
Location of this listing. Distances are straight-line.
Full neighbourhood intelligence (schools, halal, mosques, transit) is still building for this address.