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Calgary · Single Family · under $850,000 · 3+ bed · 3+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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393 Masters Avenue SE
4 BEDROOMS | 3 1/2 BATHROOMS | 2-STOREY | 2,800 SQFT OF LIVING SPACE | FULLY DEVELOPED BASEMENT | DOUBLE ATTACHED GARAGE | CORNER LOT | WEST FACING BACKYARD | Welcome to this immaculate and well maintained family home in the award-winning lake community of Mahogany, offering over 2,800 sqft of beautifully developed living space with 4 bedrooms and 3.5 bathrooms. Perfectly positioned on a corner lot steps from the main beach club facilities and directly across from a large green space and future approved Grade 7-9 school, this home combines comfort, functionality, and an unbeatable location for family living. Step inside to a bright and spacious main floor featuring an open-concept layout, large rear windows, and an abundance of natural light throughout. The inviting living room is centred around a stunning upgraded gas fireplace feature wall, creating a warm and welcoming atmosphere for relaxing or entertaining. The beautifully appointed kitchen showcases white cabinetry, granite countertops, white tile backsplash, upgraded hood fan, built-in microwave, convenient pantry, and a large island with additional storage and seating. The adjacent dining area seamlessly opens onto the west-facing backyard and patio, perfect for summer BBQs and evenings enjoying the sun. Just off the attached double garage entry, you’ll appreciate the convenient mudroom with built-in shelving and lockers. Additionally, this level includes a 2-piece bathroom, 2 coat closets and a storage area. Upstairs, the spacious bonus room provides the perfect spot for movie nights or a kids’ play area. The primary suite is a true retreat featuring a large walk-in closet and a spa-inspired 5-piece ensuite with dual vanities, oversized shower, and a relaxing soaker tub. Two additional generously sized bedrooms, both with walk-in closets, a full 4-piece bathroom, and upper floor laundry room complete this level. The fully developed basement adds incredible versatility with a large recreation room, fourth be droom, full 4-piece bathroom, and plenty of storage space, making it ideal for guests, teenagers, or family gatherings. You will enjoy the central air conditioning in the summer after your long days at the lake. Enjoy everything Mahogany has to offer including lake access, beaches, parks, pathways, tennis courts, shopping, restaurants, and schools, all just minutes from your door. Perfect as your first home or for a growing family, book your showing today! (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Recreational, Games room | 17.67 Ft x 15.83 Ft | |
| Bedroom | 10.00 Ft x 13.58 Ft | |
| 4pc Bathroom | 9.92 Ft x 5.00 Ft | |
| Furnace | 13.67 Ft x 21.83 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Foyer | 10.00 Ft x 5.25 Ft | |
| Kitchen | 13.42 Ft x 10.08 Ft | |
| Dining room | 10.67 Ft x 13.00 Ft | |
| Living room | 14.08 Ft x 15.08 Ft | |
| 2pc Bathroom | 5.17 Ft x 5.17 Ft | |
| Other | 5.75 Ft x 9.92 Ft | |
| Storage | 4.50 Ft x 4.50 Ft |
Upper Level
| Room | Dimensions | Features |
|---|---|---|
| Family room | 12.42 Ft x 12.75 Ft | |
| Primary Bedroom | 23.83 Ft x 18.08 Ft | |
| 5pc Bathroom | 8.00 Ft x 6.17 Ft | |
| Other | 13.67 Ft x 5.08 Ft | |
| Bedroom | 10.50 Ft x 12.75 Ft | |
| Bedroom | 12.58 Ft x 10.00 Ft | |
| 4pc Bathroom | 8.00 Ft x 6.17 Ft | |
| Laundry room | 8.42 Ft x 6.17 Ft |
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
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Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
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Suite legality / potential
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Monthly carrying cost
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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
-0.96%
Cap rate
4.67%
GRM
13.9
Break-even rent
$4,754
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 Jun 29, 2026.
Location of this listing. Distances are straight-line.
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Buyer-fit signals
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