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Calgary · Single Family · under $725,000 · 3+ bed · 3+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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406 Masters Road SE
Welcome to 406 Masters Rd SE in the community of Mahogany.Escape the hustle and bustle on a quiet, low-traffic street in Calgary's premier, award-winning LAKE COMMUNITY. This stunning, open-concept 4-bedroom, 3.5-bathroom home commands attention with 11-FOOT CEILINGS, sleek luxury VINYL PLANK flooring, and a cozy ELECTRIC FIREPLACE. Up front, a versatile flex room stands ready to adapt as a chic home office, a vibrant kids' play zone, or an elegant extension of your main living space. Custom-built shelving in every bedroom adds thoughtful, built-in storage throughout.The chef's kitchen is a showstopper, centering around a massive island with QUARTZ COUNTERTOPS and packed with premium upgrades, including a GAS STOVE, BUILT-IN MICROWAVE, and a CHIMNEY-STYLE RANGE HOOD FAN. Upstairs, the private primary suite serves as your personal oasis, complete with a 4pc ENSUITE with a dual-sink vanity, while two additional spacious bedrooms and another full bathroom round out the upper level.The mechanical footprint is equally impressive and fully loaded, featuring CENTRAL A/C, 6 SOLAR PANELS for energy-efficient living, a TANKLESS HOT WATER HEATER, a WATER SOFTENER, and a REVERSE OSMOSIS FILTRATION SYSTEM with its own dedicated drinking tap. Downstairs, a fully finished basement boasts built-in storage, a stylish barn door, and a full bath, with a layout thoughtfully planned to function beautifully as a private bedroom suite.Step outside to a generously sized rear deck, with PERMANENT OUTDOOR LIGHTING (HomeOne) extending around the entire home for customizable, year-round curb appeal. For the ultimate convenience, the OVERSIZED DETACHED DOUBLE GARAGE features a rare REAR OVERHEAD ROLL-UP DOOR for seamless pass-through access to the yard, plus an extra utility door for added functionality.Complete with exclusive access to the private Mahogany Lake, pristine sandy beaches, and splash parks, this home delivers an uncompromised lifestyle in Calgary's most vibrant neighborhood. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| 3pc Bathroom | 7.92 Ft x 6.33 Ft | |
| Den | 12.33 Ft x 6.92 Ft | |
| Bedroom | 12.33 Ft x 10.33 Ft | |
| Recreational, Games room | 18.42 Ft x 17.67 Ft | |
| Furnace | 15.25 Ft x 5.00 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| 2pc Bathroom | 5.58 Ft x 4.83 Ft | |
| Dining room | 10.67 Ft x 11.17 Ft | |
| Family room | 10.50 Ft x 13.58 Ft | |
| Kitchen | 16.50 Ft x 7.67 Ft | |
| Living room | 11.00 Ft x 12.58 Ft |
Second level
| Room | Dimensions | Features |
|---|---|---|
| 4pc Bathroom | 8.67 Ft x 5.33 Ft | |
| 4pc Bathroom | 8.08 Ft x 7.83 Ft | |
| Bedroom | 11.42 Ft x 9.25 Ft | |
| Bedroom | 11.42 Ft x 9.25 Ft | |
| Primary Bedroom | 12.33 Ft x 11.33 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
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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
-1.04%
Cap rate
4.66%
GRM
13.9
Break-even rent
$4,148
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 9, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
Location of this listing. Distances are straight-line.
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