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4506 Shannon Drive
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Olds · Single Family · under $500,000 · 3+ bed · 2+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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Welcome to this beautifully maintained bungalow tucked away on a quiet, tree-lined street in the heart of downtown Olds. Offering 4 bedrooms, 2.5 bathrooms, and exceptional pride of ownership throughout, this home combines timeless charm with thoughtful updates and versatile living spaces.The bright, open-concept main floor was beautifully renovated in 2021 and features a stunning kitchen with stainless steel appliances, vinyl flooring, and an inviting layout designed for both everyday living and entertaining. The fully finished basement includes a complete illegal suite with its own kitchen, offering excellent flexibility for extended family, guests, or multi-generational living. It also presents an excellent opportunity as a mortgage helper or income-generating space, making this property especially appealing for investors or buyers looking to offset their monthly expenses.Step outside and discover a backyard designed for making memories. A charming front porch welcomes you home, while the beautifully landscaped backyard showcases vibrant perennial gardens, a spacious deck with sun screens and built-in lighting, a lower patio with a pergola, wired lighting, a cozy gas fireplace, and a gas line for your BBQ. Whether you're hosting friends or enjoying a quiet evening outdoors, this private retreat is sure to impress.The detached double garage is equally impressive, featuring built-in cabinetry, shelving, and a workbench for the hobbyist or handyman. There's also ample space for year-round RV parking, adding even more practicality to this exceptional property.Quality updates include Hardie® board siding painted in 2020, most windows replaced in 2018, a high-efficiency furnace installed in 2016 and recently serviced, and a beautifully renovated interior that is truly move-in ready.Ideally located within walking distance of downtown shopping, restaurants, parks, schools, and everyday amenities, this exceptional property offers the perfect blend of comfort, fu nctionality, and small-town charm. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| 3pc Bathroom | 2.09 M x 2.64 M | |
| Bedroom | 2.32 M x 3.37 M | |
| Bedroom | 4.24 M x 3.32 M |
Main level
| Room | Dimensions | Features |
|---|---|---|
| 2pc Bathroom | 1.70 M x 1.45 M | |
| 4pc Bathroom | 2.39 M x 3.68 M | |
| Bedroom | 3.70 M x 2.90 M | |
| Primary Bedroom | 3.40 M x 3.68 M |
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
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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).
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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 26, 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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