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40 Drever Close
Beds
5
Baths
4 full + 1 half
Sqft
2,297
Year
1998
Type
Single Family
On market
39d
An incredible opportunity to own a home with truly unmatched value in Red Deer. This timeless 2,300 sq. ft. walkout two-storey offers space, flexibility, and features that are rarely found all in one property.This home includes a legal, self-contained 2 bedroom suite with its own laundry previously rented for up to $1800, as well as space to add a 4th bedroom on the upper floor, two garages, and a beautifully manicured yard with mature trees, professional landscaping, retaining walls, patio space, and turf — creating the ultimate private backyard oasis.The main floor welcomes you with a grand entryway, spiral wood staircase & soaring ceilings. The front living room features a large window overlooking the quiet keyhole close, while the adjacent formal dining room is finished with elegant crown moulding. The second living room is truly stunning, featuring two-storey ceiling height and a floor-to-ceiling stone surround gas fireplace. This impressive space is perfect for gathering and flows seamlessly into the eating area, kitchen, and four-season sunroom that also has a gas fireplace.The kitchen features custom cabinetry, a covered hood fan, granite countertops, an island, and an in-sink garburator. Also on the main floor is a renovated powder room, additional closet space off the garage entry as well as a functional mudroom that could also be used as an office.Upstairs, you’ll find upper floor laundry, 3 bedrooms, 2 full bathrooms, and a bonus room that could be converted into a 4th bedroom if needed. The spacious primary bedroom includes a walk-in closet with built-in organizers and a beautifully renovated ensuite featuring a double sink vanity, custom tiled shower, water closet, and heated tile floors. The second upper bathroom also features a custom tiled shower and a brand new vanity.The walkout lower level is home to the legal 2 bedroom suite, complete with its own kitchen, living room, full bathroom, laundry, and private rear access to off-street parking. W hether used for extended family or added flexibility, this legal suite is a major bonus.This property also includes an attached garage with in-floor heat plus a detached garage in the back. Additional standout features include a high-efficiency furnace replaced in 2017, new hot water tank in 2024, central A/C, in-floor heating in the basement, Solar One windows, California shutters, and new shingles in 2017.Homes like this do not come up for sale often, especially with this much space, parking, landscaping, and overall value. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| 3pc Bathroom | 7.58 Ft x 4.92 Ft | |
| Bedroom | 11.83 Ft x 9.83 Ft | |
| Bedroom | 11.33 Ft x 15.25 Ft | |
| Kitchen | 11.67 Ft x 11.83 Ft | |
| Recreational, Games room | 25.08 Ft x 18.50 Ft | |
| Furnace | 10.92 Ft x 6.92 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Foyer | 10.33 Ft x 11.33 Ft | |
| 2pc Bathroom | 3.75 Ft x 5.17 Ft | |
| Breakfast | 12.08 Ft x 8.25 Ft | |
| Dining room | 12.83 Ft x 9.75 Ft | |
| Family room | 13.50 Ft x 13.17 Ft | |
| Kitchen | 12.33 Ft x 12.42 Ft | |
| Living room | 12.83 Ft x 11.75 Ft | |
| Office | 6.50 Ft x 6.17 Ft | |
| Sunroom | 9.92 Ft x 13.42 Ft |
Second level
| Room | Dimensions | Features |
|---|---|---|
| 3pc Bathroom | 4.92 Ft x 8.08 Ft | |
| 4pc Bathroom | 15.58 Ft x 11.17 Ft | |
| Bedroom | 10.58 Ft x 11.75 Ft | |
| Bedroom | 9.75 Ft x 13.08 Ft | |
| Loft | 12.00 Ft x 9.67 Ft | |
| Primary Bedroom | 17.00 Ft x 12.33 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
-1.02%
Cap rate
4.66%
GRM
13.9
Break-even rent
$4,686
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 May 19, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Red Deer. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.