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4308 38 Street NE
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Calgary · Single Family · under $450,000 · 2+ bed · 1+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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Whether you're looking for your first home, your next investment property, or a rewarding renovation project, this Whitehorn bi-level offers plenty of possibilities.The main level features a bright, west-facing living room that fills with warm afternoon sunshine, along with a functional kitchen, two bedrooms, and a full bathroom. Downstairs, you'll find an illegal suite complete with second kitchen, a spacious living room, an additional bedroom, and another full bathroom, creating a layout that could work well for multi-generational living or future secondary legalized suite legalization (subject to City of Calgary approval).Outside, the home offers a fully fenced and gated front parking pad for convenient off-street parking, while the large private backyard provides plenty of space to relax or garden, complete with a storage shed for your tools and seasonal items.Yes, this home could use some updating—but that's exactly where the opportunity lies. Whether you're looking to build equity through renovations, create a revenue-generating property, or transform it into a home that reflects your own style, the potential is here.Located in the established community of Whitehorn, you're just minutes from the Whitehorn CTrain Station, Peter Lougheed Centre, schools, parks, shopping, restaurants, and major roadways, making everyday life and commuting exceptionally convenient.Affordable opportunities with this much potential are becoming increasingly hard to find. Bring your ideas, roll up your sleeves, and imagine what this home could become. (id:65958)
Lower level
| Room | Dimensions | Features |
|---|---|---|
| Recreational, Games room | 17.58 Ft x 18.25 Ft | |
| Kitchen | 9.92 Ft x 12.50 Ft | |
| Bedroom | 9.50 Ft x 11.83 Ft | |
| Furnace | 8.58 Ft x 11.83 Ft | |
| 3pc Bathroom | 4.33 Ft x 9.25 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Living room | 14.50 Ft x 19.17 Ft | |
| Dining room | 8.08 Ft x 9.25 Ft | |
| Kitchen | 8.42 Ft x 9.92 Ft | |
| 4pc Bathroom | 4.92 Ft x 7.50 Ft | |
| Primary Bedroom | 10.00 Ft x 14.50 Ft | |
| Bedroom | 8.92 Ft x 14.50 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
-1.57%
Cap rate
4.55%
GRM
13.9
Break-even rent
$2,510
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 Jun 30, 2026.
Start with mosques, schools, halal restaurants, halal grocery, and transit. Toggle more categories when you want the fuller neighborhood picture.
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Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.