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5130 37 Street
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Beds
3
Baths
2 full + 1 half
Sqft
829
Year
1945
Type
Single Family
On market
41d
MULTI FAMILY DEVELOPMENT SITE! This home is being sold as part of a block of 4 lots offering approximately 0.54 acres and R-M zoning for a multi-family redevelopment. Situated just one block from the Red Deer Hospital with easy access to downtown and the amenities of Red Deer’s South end. The existing home is currently rented for $1345/mo with tenants paying all utilities. Current lease expires on Sept 30, 2026 and same tenants have been in place since 2017. This property is being offered as part of a 4 lot package along with 3 other adjacent properties MLS# A2304631, A2304622, and A2304621. Each lot frontage is approximately 50'. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Bedroom | 10.17 Ft x 12.25 Ft | |
| 2pc Bathroom | — |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Bedroom | 10.08 Ft x 9.00 Ft | |
| Primary Bedroom | 12.08 Ft x 11.17 Ft | |
| 4pc Bathroom | — |
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
18.25%
Cap rate
8.51%
GRM
8.7
Break-even rent
$1,600
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.
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 May 12, 2026.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Red Deer. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.