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5043 51 Street
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Welcome to the perfect family getaway, located just one block from Sylvan Lake and only steps from the vibrant downtown district. This ideally situated home offers the perfect blend of relaxation, convenience, and year-round enjoyment. Spend your days at the beach, walking scenic lakeside trails, dining at local cafés and restaurants, or exploring nearby shops and attractions — all within easy walking distance.The home offers a warm and inviting atmosphere with recent interior updates and new kitchen appliances, making it truly move-in ready for immediate enjoyment. Currently operating as a year-round short-term rental property provides excellent flexibility as a private retreat, an income-generating investment, or both.Zoned CW - this designation supports mixed-use waterfront commercial development, offering enhanced flexibility and long-term value in one of the lake’s most desirable locations. With strong rental appeal, excellent walkability, and an unbeatable setting near the lake, this is a rare opportunity to own your own piece of lake lifestyle living. Seller will provide Tittle Insurance in a lieu of RPR. (id:65958)
Main level
| Room | Dimensions | Features |
|---|---|---|
| Living room | 17.25 Ft x 13.83 Ft | |
| Primary Bedroom | 11.08 Ft x 15.58 Ft | |
| Bedroom | 8.92 Ft x 15.42 Ft | |
| Dining room | 8.42 Ft x 15.75 Ft | |
| Kitchen | 7.42 Ft x 9.67 Ft | |
| 4pc Bathroom | 8.58 Ft x 15.08 Ft | |
| Furnace | 4.17 Ft x 11.17 Ft | |
| Sunroom | 25.08 Ft x 11.33 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
-7.29%
Cap rate
3.41%
GRM
16.7
Break-even rent
$2,449
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 16, 2026.
Location of this listing. Distances are straight-line.
Full neighbourhood intelligence (schools, halal, mosques, transit) is still building for this address.