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500-504 1st AVENUE N
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Rose Valley · Single Family · under $200,000 · 4+ bed · 1+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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Welcome to 500–504 1st Ave in Rose Valley a charming and well-maintained 1,226 sq. ft. bungalow-style log home located just steps from the school and downtown amenities. Surrounded by scenic prairie views, excellent hunting, and year-round outdoor recreation, Rose Valley offers the perfect small-town lifestyle. Conveniently situated within a short drive to Greenwater Lake, Barrier Lake, and Marean Lake, this property combines comfort, character, and an unbeatable location. Built in 1978 and situated on a massive 110 x 120 corner lot, this unique home offers the perfect blend of rustic charm and functional family living, with plenty of space for a growing family. Outside, you’ll find a 24 x 26 double detached garage providing excellent parking and storage, along with a spacious yard ideal for entertaining, gardening, or simply enjoying the outdoors. Step inside and experience the warmth and timeless appeal of log construction. The main floor features a spacious porch area, functional kitchen, and bright dining and living room spaces designed for gathering with family and friends. The upper level also includes 3 bedrooms and a 4-piece bathroom. The fully finished basement adds even more living space with 2 additional bedrooms, a 3-piece bathroom, and two office areas perfect for working from home, hobbies, or extra storage. Recent upgrades include new exterior paint/stain on the logs completed last year, all new triple-pane windows installed in 2024, and a new furnace and water heater in 2022. Pride of ownership is evident throughout, with this home having been exceptionally well maintained inside and out. Whether you’re searching for a family home, an investment opportunity, or a peaceful place to settle down, this beautiful log bungalow is a must-see! (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Family room | 26.4 × 18.8 feet | |
| Laundry room | 12.1 × 7.2 feet | |
| 3pc Bathroom | 8.6 × 5.6 feet | |
| Bedroom | 4.1 × 7.3 feet | |
| Bedroom | 11.11 × 11 feet | |
| Office | 8.6 × 7.6 feet | |
| Den | 9.5 × 7.6 feet |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Kitchen | 13.8 × 8.11 feet | |
| Dining room | 13.5 × 9.9 feet | |
| Living room | 18.11 × 13.1 feet | |
| Primary Bedroom | 10.4 × 11.6 feet | |
| Bedroom | 10.4 × 7.11 feet | |
| 4pc Bathroom | 12.6 × 5.8 feet | |
| Bedroom | 10.4 × 9.4 feet | |
| Enclosed porch | 4.1 × 7.3 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
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Suite legality / potential
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Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
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Insurance estimate
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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).
Cash on cash
64.51%
Cap rate
17.77%
GRM
4.7
Break-even rent
$1,206
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.
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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.
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Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Jun 3, 2026.
Location of this listing. Distances are straight-line.
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