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Reduced $5,000 (4%) from $124,900
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Meadow Lake · Single Family · under $150,000 · 2+ bed · 1+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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407 3rd STREET E
Move-in ready, this property makes an excellent starter home or investment opportunity. The spacious main-floor bathroom features a full tub surround along with washer and dryer hookups for added convenience. The living room offers hardwood floors and a large picture window overlooking the front street, filling the space with natural light. Upstairs, an open loft area includes windows facing both the front and backyard, providing a bright and versatile space. The driveway offers plenty of parking and a garden area for outdoor enjoyment. This house has had a brand new furnace, hot water heater, and sump pump installed and has had recent yard maintenance completed. This is a fantastic chance to acquire a cash-flowing property offering steady rental income. Ideal for an experienced investor expanding their portfolio or a first-time buyer seeking a low-maintenance, income-generating home. Quick possession is available and at this price, don't hesitate. Call today for a viewing. (id:65958)
Main level
| Room | Dimensions | Features |
|---|---|---|
| Living room | 15.3 × 13.6 feet | |
| Kitchen | 12.7 × 11.2 feet | |
| Laundry room | 13 × 7 feet | |
| Bedroom | 7.7 × 11.6 feet | |
| Bedroom | 9 × 11.1 feet |
Second level
| Room | Dimensions | Features |
|---|---|---|
| Bedroom | 11 × 11.1 feet |
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
75.52%
Cap rate
19.97%
GRM
4.2
Break-even rent
$811
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 May 29, 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.
Full neighbourhood intelligence (schools, halal, mosques, transit) is still building for this address.