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4617 48 Street
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
7.57%
Cap rate
6.38%
GRM
11.0
Break-even rent
$2,723
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 1, 2026.
Location of this listing. Distances are straight-line.
Full neighbourhood intelligence (schools, halal, mosques, transit) is still building for this address.
Buyer-fit signals
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