We use cookies for basic analytics + follow-up. Privacy
We remember this notice, run basic analytics, and use account activity like saved homes and listing views to provide real-estate follow-up. Privacy.
Swipe through similar matches — tap the heart to save, or open one for the full read.
4617 48 Street
Beds
6
Baths
5 full + 2 half
Sqft
1,141
Year
1975
Type
Single Family
On market
102d
Great investor focused, cash-flowing investment opportunity. This bungalow is built for the investor who wants day-one revenue with clear upside: a fully legal basement suite plus a transferable development permit for a third suite in the garage (perfect for a room-by-room strategy with consistent rental demand tied to Olds College).Upstairs offers 3 bedrooms and 2 full baths (including ensuite). The legal basement suite includes 3 bedrooms and 1.5 baths. Both units have their own washer and dryer, and utilities plus day-to-day property care are tenant responsibility, keeping the operating model clean.Parking is a differentiator here: two off-street driveways set up private parking for each unit, with 2 stalls dedicated to the basement suite and 4 stalls plus the garage for the upper suite, plus street parking out front.Investors will appreciate the long-term optionality. The site carries higher-density zoning (historically R3, now consolidated into the Town’s Mixed Use framework), supporting future redevelopment or added density where approved. Current rents are below market, offering a straightforward path to increased cash return, and the approved garage suite adds a second lever (see attached cash flow scenarios). Available vacant or fully tenanted, depending on your strategy. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| 1pc Bathroom | .59 M x .64 M | |
| 3pc Bathroom | 1.43 M x 1.95 M | |
| 3pc Bathroom | 1.43 M x 1.92 M | |
| Bedroom | 2.97 M x 2.52 M | |
| Bedroom | 2.69 M x 4.17 M | |
| Bedroom | 2.67 M x 3.62 M | |
| Kitchen | 3.19 M x 3.25 M | |
| Living room | 6.11 M x 6.67 M | |
| Furnace | 2.32 M x 1.59 M |
Main level
| Room | Dimensions | Features |
|---|---|---|
| 2pc Bathroom | .92 M x 2.14 M | |
| 4pc Bathroom | 2.73 M x 1.54 M | |
| Bedroom | 3.03 M x 3.34 M | |
| Bedroom | 3.04 M x 3.33 M | |
| Dining room | 2.50 M x 3.35 M | |
| Kitchen | 2.78 M x 3.35 M | |
| Laundry room | 1.68 M x 2.18 M | |
| Living room | 5.29 M x 3.65 M | |
| Primary Bedroom | 3.47 M x 3.50 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
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
6.25%
Cap rate
6.11%
GRM
11.3
Break-even rent
$2,807
Financing
Operating expenses (monthly)
Save this analysis — go Pro (free)
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 Jun 9, 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 Olds. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.