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51328 Range Road 231 Street
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Sherwood Park · Agriculture · under $3,025,000 · 4+ bed · 2+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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Welcome to an exceptional turnkey equine agri-business set on 107.24 beautiful acres. Designed for both comfortable country living & a thriving horse operation, this impressive property offers outstanding facilities, scenic natural surroundings & incredible income potential. The inviting bungalow features a bright, open floor plan w/ vaulted ceilings, 5 bedrooms (3 on the main level plus 2 downstairs) and 3 full bathrooms, including a spacious primary ensuite with jetted tub. Enjoy cozy evenings by the gas fireplace upstairs or the electric fireplace in the fully finished basement, c/w durable vinyl plank flooring and sauna included. A large main-floor laundry room incl sink & garden window, while the oversized attached double garage provides ample storage. Additional upgrades incl composite front decking & a new roof 2013. Step outside to your own private oasis featuring a beautifully landscaped yard, charming gazebo, tranquil pond, fenced dog yard w/ convenient dog ramp & welcoming firepit area perfect for time with family & friends. A clean, well-maintained county-permitted mobile home w/ 2 bedrooms - ideal for staff, family or rental income. The impressive clubhouse entrance to the barn creates a warm & inviting space for clients, boarders, clinics or social events. Complete with electric fireplace, trophy shelves, wet bar/coffee station w/ mini-fridge & microwave, bathroom w/ shower & bedroom/office, this versatile space adds tremendous value to the operation. The 36'x180' barn has been thoughtfully designed, offering exceptional ventilation, radiant heaters (rarely needed), 26 spacious 10'x12' box stalls, plus 5 additional 10'x10' stalls located in the arena. Features include a utility room servicing the house, barn & outdoor waterers, furnace for the clubhouse & tack room, 12'x20' tack room w/ dual entrances for easy future division, feed room, & wash bay with hot/cold. The water system is configured for individual fill taps at each stall. Train year-round in the attached 60'x180' insulated & heated indoor arena (heater has never been used). You can also enjoy the expansive 100'x200' outdoor arena. A large silo for hay cubes included. The property is ideally set up for easy horse management w/ front paddocks featuring automatic waterers, five side paddocks w/ shelters & auto waterers, pipe & cable fencing & metal gates. Nature lovers will appreciate the trails winding through the treed acreage, perfect for walking, trail riding & enjoying abundant wildlife. The property is adjacent to 21.79 acres of Environmental Reserve, and three Enviro Reserve Easements on property (2.69, 2.27 and 3.06 acres), preserving the natural beauty & enhancing privacy. Infrastructure includes 2 septic systems & fields, along with a strong-producing well. Whether you're expanding an established equine business, operating a boarding/training facility or simply searching for an extraordinary country estate with first-class horse amenities, this property is ready for you! (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Bedroom | 18.67 Ft x 13.08 Ft | |
| Bedroom | 15.75 Ft x 12.83 Ft | |
| Family room | 17.58 Ft x 12.50 Ft | |
| Recreational, Games room | 25.58 Ft x 13.08 Ft | |
| Storage | 10.33 Ft x 26.25 Ft | |
| Furnace | 12.42 Ft x 3.42 Ft | |
| 3pc Bathroom | 15.00 Ft x 6.58 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Foyer | 11.17 Ft x 5.50 Ft | |
| Dining room | 10.58 Ft x 13.25 Ft | |
| Kitchen | 13.50 Ft x 13.42 Ft | |
| Laundry room | 10.58 Ft x 7.33 Ft | |
| Living room | 20.67 Ft x 13.08 Ft | |
| Bedroom | 8.08 Ft x 9.83 Ft | |
| Primary Bedroom | 17.00 Ft x 15.08 Ft | |
| Bedroom | 10.08 Ft x 13.17 Ft | |
| 4pc Bathroom | 7.92 Ft x 7.58 Ft | |
| 4pc Bathroom | 5.83 Ft x 13.25 Ft |
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Comparable sales
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Property condition
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Zoning
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Suite legality / potential
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Monthly carrying cost
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Property taxes
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Insurance estimate
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Commute
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Deposit and financing conditions
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Inspection considerations
Budget for a home inspector ($500–700) and any specialty inspections (sewer scope, mould, asbestos for pre-1990 builds).
Cash on cash
-6.23%
Cap rate
3.62%
GRM
16.7
Break-even rent
$17,060
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 Jul 10, 2026.
Location of this listing. Distances are straight-line.
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Buyer-fit signals
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