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Reduced $14,900 (3%) from $539,900
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5203 Memorial Drive SE
Beds
5
Baths
2
Sqft
1,051
Year
1968
Type
Single Family
On market
27d
Welcome to this beautifully renovated bungalow in the established community of Forest Heights, offering a great opportunity for homeowners, investors, or multi-generational living. With 3 bedrooms up, an illegal 2-bedroom basement suite, and completely updated throughout, this home blends modern comfort with functional versatility in a mature, convenient location. Step inside to discover a bright and inviting main floor featuring updated flooring, newer windows, stylish light fixtures, and a fresh contemporary feel from top to bottom. The spacious living area is filled with natural light and flows seamlessly into the renovated kitchen, complete with modern cabinetry, updated countertops, and plenty of prep and storage space. The adjoining dining area creates an ideal setup for both everyday living and entertaining. Three well-sized bedrooms and an updated full bathroom complete the upper level. The fully developed lower level features a thoughtfully designed illegal 2-bedroom suite with its own renovated kitchen, updated bathroom, spacious living area, and separate sleeping quarters—perfect for extended family, guests, or potential rental income. The lower level continues the same updated aesthetic found upstairs, making the entire home feel cohesive and move-in ready. Outside, the sunny south-facing backyard offers a private outdoor space with plenty of room to relax, garden, or entertain. The yard is fully fenced, making it ideal for kids and pets, while the large rear parking pad provides ample off-street parking for multiple vehicles. Whether you’re looking for a comfortable family home or an investment property with income potential, this property checks all the boxes. Located close to schools, parks, shopping, transit, and major commuter routes, this is a fantastic opportunity to own a turnkey home in an established southeast Calgary neighbourhood. Stylishly updated, well maintained, and offering outstanding flexibility, this bungalow is ready for its next cha pter. (Please note all photos are AI staged ) (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Furnace | 16.25 Ft x 12.67 Ft | |
| 4pc Bathroom | 6.92 Ft x 7.83 Ft | |
| Recreational, Games room | 21.58 Ft x 12.83 Ft | |
| Kitchen | 4.00 Ft x 12.83 Ft | |
| Bedroom | 11.83 Ft x 12.83 Ft | |
| Bedroom | 10.08 Ft x 12.58 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Primary Bedroom | 11.50 Ft x 11.08 Ft | |
| Bedroom | 8.67 Ft x 11.17 Ft | |
| Bedroom | 8.00 Ft x 12.50 Ft | |
| 4pc Bathroom | 4.92 Ft x 11.00 Ft | |
| Kitchen | 16.17 Ft x 11.42 Ft | |
| Living room | 14.25 Ft x 13.83 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
0.34%
Cap rate
4.93%
GRM
13.3
Break-even rent
$3,268
Financing
Operating expenses (monthly)
Save this analysis — go Pro (free)
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 Jun 8, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
Start with mosques, schools, halal restaurants, halal grocery, and transit. Toggle more categories when you want the fuller neighborhood picture.
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