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398 Marina Bay Place
Beds
4
Baths
4
Sqft
2,392
Year
1997
Type
Single Family
On market
98d
Waterfront Luxury in the Heart of Sylvan Lake, Welcome to your lakeside retreat in the prestigious Marina Bay community, where every day feels like a getaway. This stunning 2-storey home offers over 3,400 sq ft of total living space, beautifully designed across three levels with 4 bedrooms and 4 full bathrooms — ideal for families or those who love to entertain in style.Step inside and be greeted by a bright, open-concept main floor featuring a spacious living room anchored by a cozy fireplace, a gourmet kitchen with modern cabinetry, stainless steel appliances, and generous island seating, and a formal dining area perfect for gatherings with friends and family. A dedicated office on the main level offers the ideal work-from-home setup, while the 3-piece bath and laundry room add convenience.Upstairs, discover a luxurious primary suite complete with a 3-piece ensuite, large closets, and peaceful lake-view vibes. Two additional bedrooms and a 4-piece bathroom complete the upper level — each room thoughtfully sized for comfort and function.The fully finished basement extends the living experience, boasting a wet bar, large recreation room, fourth bedroom, and another full bathroom — a perfect setup for guests, extended family, or cozy movie nights.Outdoors, enjoy an expansive deck and private yard, perfect for relaxing summer afternoons after a day on the water. Property is has full Irrigation. The attached double garage provides ample space for vehicles, and lake gear, plus seller has been approved for a large detached garage along the east side of the lot for more storage for your boat or cars and potential for extra added living space. This Property has 2 Boat Slips and Remember Marina Bay’s exclusive amenities — including a private marina, tennis courts, clubhouse, and lakeshore walking paths — set the standard for resort-style living. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Bedroom | 13.00 Ft x 13.00 Ft | |
| 3pc Bathroom | .00 Ft x .00 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Office | 15.00 Ft x 14.00 Ft | |
| 3pc Bathroom | .00 Ft x .00 Ft |
Second level
| Room | Dimensions | Features |
|---|---|---|
| Primary Bedroom | 15.00 Ft x 16.00 Ft | |
| Bedroom | 11.67 Ft x 10.83 Ft | |
| Bedroom | 18.00 Ft x 16.00 Ft | |
| 4pc Bathroom | .00 Ft x .00 Ft | |
| 3pc Bathroom | — |
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
-0.63%
Cap rate
4.74%
GRM
13.9
Break-even rent
$11,456
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 1, 2026.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Sylvan Lake. 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.