We use cookies for basic analytics + follow-up. Privacy
We remember this notice, run basic analytics, and use account activity like saved homes and listing views to provide real-estate follow-up. Privacy.
Reduced $19,900 (2%) from $899,900
Swipe through similar matches — tap the heart to save, or open one for the full read.
3912 40 Avenue NW
Beds
4
Baths
3
Sqft
1,218
Year
1968
Type
Single Family
On market
28d
Welcome to this beautifully renovated and thoughtfully updated bungalow in the highly sought-after community of Varsity! With nearly 2,133 sq ft of developed living space, this home offers 4 spacious bedrooms and 3 full bathrooms, making it ideal for families, students, or investors. Walking distance to the University of Calgary, Brentwood C-Train Station, Market Mall, Research Park, and the Children’s Hospital, the location is unbeatable for convenience and central living. Step inside and you’ll immediately notice the designer finishes: a custom gourmet kitchen with high-end appliances including a Frigidaire gas stove, luxury granite countertops, dove-grey cabinetry, and a large island that seamlessly connects to the dining and living areas. The living room features a stunning rock fireplace and built-in wine bar, while the primary suite impresses with generous closet space and a spa-like ensuite complete with a walk-in shower and tub. This home sits on a 6,200+ sq ft lot with great curb appeal, highlighted by stone, timber, stucco, and hardy board in warm, inviting colours. The single detached garage plus ample street parking add practicality, while the full basement offers flexibility as a future revenue generator, a teenager hangout, or additional living space. Not only is this property move-in ready, but it has also been a fantastic rental property, making it an excellent investment opportunity. Book your showing today, homes of this calibre in Varsity don’t last long! (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| 4pc Bathroom | — | |
| Bedroom | 15.17 Ft x 10.00 Ft | |
| Bedroom | 13.00 Ft x 13.25 Ft | |
| Family room | 17.08 Ft x 12.58 Ft | |
| Recreational, Games room | 11.33 Ft x 16.58 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| 4pc Bathroom | — | |
| 4pc Bathroom | — | |
| Bedroom | 8.83 Ft x 10.50 Ft | |
| Primary Bedroom | 10.33 Ft x 14.08 Ft | |
| Dining room | 14.17 Ft x 11.67 Ft | |
| Kitchen | 9.42 Ft x 13.25 Ft | |
| Living room | 9.42 Ft x 18.25 Ft | |
| Other | 10.33 Ft x 6.67 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
-0.95%
Cap rate
4.67%
GRM
13.9
Break-even rent
$5,421
Financing
Operating expenses (monthly)
Save this analysis — go Pro (free)
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 May 29, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
Start with mosques, schools, halal restaurants, halal grocery, and transit. Toggle more categories when you want the fuller neighborhood picture.
0.9 km
est. 1 min
1.4 km
est. 2 min
3.4 km
est. 5 min
4.1 km
est. 7 min
4.3 km
est. 7 min
TEHRAN GROCERY
2120 Kensington Rd NW, Calgary, AB T2N 3R7, Canada
4.6 rating · 103 reviews
4.7 km
est. 7 min
2.9 km
est. 5 min
3.7 km
est. 6 min
Muslim Association of Canada - Calgary
6415 Ranchview Dr NW, Calgary, AB T3G 1B5, Canada
4.7 rating · 35 reviews
3.9 km
est. 6 min
4198 Valiant Dr NW, Calgary, AB T3A 0H7, Canada
0.4 km
est. 1 min
St. Vincent de Paul Elementary & Junior High
4525 49 St NW, Calgary, AB T3A 0K4, Canada
1.2 km
est. 2 min
Brentwood School | Calgary Board of Education
1231 Northmount Dr NW, Calgary, AB T2L 1H9, Canada
1.4 km
est. 2 min
0.9 km
est. 1 min
NB Brentwood CTrain Station
Calgary, AB T2L 2K7, Canada
3.0 rating · 3 reviews
0.9 km
est. 1 min
University LRT Station (NB)
Calgary, AB T2L 2A3, Canada
2.8 rating · 4 reviews
1.6 km
est. 3 min