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340 5 Street SE
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Medicine Hat · Single Family · under $575,000 · 3+ bed · 1+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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City views, timeless character, and modern updates all come together in this incredible home on the highly sought-after SE Hill. Built in 1914, this one-and-a-half-storey home has been meticulously renovated while preserving the charm that make character homes so special. Located just a short walk from Historic Downtown Medicine Hat, you’ll love having unique shopping, restaurants, cafés, and entertainment just minutes from your front door.As you step inside, you’ll immediately appreciate the warmth and character this home has to offer. Beautiful hardwood floors, original architectural details, and large windows fill the home with natural light while seamlessly blending historic charm with modern finishes. The main floor offers a functional layout with spacious living and dining areas, an updated kitchen with quality cabinetry, countertops, and appliances, plus the convenience of main floor laundry. Upstairs you’ll find comfortable bedrooms along with a beautifully restored bathroom, creating a truly one-of-a-kind space.The amount of work completed on this home is nothing short of impressive. Over the years, nearly every aspect of the home has been updated including the roof, chimney, decks, windows, siding, insulation, framing, Sheetrock, paint, flooring and subfloors, electrical, plumbing and sewer, furnace, HVAC, ductwork, hot water tank, fireplaces, doors, handrails, lighting, GFCI plugs, switches, fixtures, taps, toilets, appliances, cabinetry, countertops, baseboards, smoke and carbon monoxide detectors, and so much more. Simply put, the heavy lifting has all been done so all you have to do is move in and enjoy.After you have seen the house you will be amazed as you step outside onto the large back deck where you’ll be treated to incredible views overlooking Downtown Medicine Hat. This is the ideal place to relax and visit with family and friends. The beautifully landscaped yard creates your own private retreat and features underground irrigation, a peacefu l pond and river feature running alongside the home, mature landscaping, and a front lawn that perfectly complements the exceptional curb appeal.An added bonus is the MU-D zoning, giving you the flexibility for residential or commercial use. Whether you’re looking for a beautiful place to call home, a boutique office, studio, or investment opportunity, this property offers endless possibilities.Character, quality renovations, stunning city views, versatile zoning, and one of Medicine Hat’s most desirable locations all add up to one thing…a truly one-of-a-kind property. Take the virtual tour 24 hours a day or call your REALTOR® to book your private showing! (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Bedroom | 13.08 Ft x 13.92 Ft | |
| Furnace | 15.42 Ft x 14.92 Ft | |
| Workshop | 6.08 Ft x 27.58 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Dining room | 9.83 Ft x 11.33 Ft | |
| Living room | 13.25 Ft x 11.33 Ft | |
| Kitchen | 11.92 Ft x 10.92 Ft | |
| 3pc Bathroom | .00 Ft | |
| Dining room | 11.17 Ft x 10.92 Ft | |
| Exercise room | 6.58 Ft x 17.92 Ft |
Second level
| Room | Dimensions | Features |
|---|---|---|
| 4pc Bathroom | — | |
| Primary Bedroom | 19.17 Ft x 11.33 Ft | |
| Bedroom | 6.83 Ft x 11.33 Ft | |
| Bedroom | 9.67 Ft x 11.00 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
-4.29%
Cap rate
4.01%
GRM
15.2
Break-even rent
$3,299
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 Jul 7, 2026.
Location of this listing. Distances are straight-line.
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