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1001, 5220 50A
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One of the best locations in Rainbow Park. This beautiful end unit offers 1330 sq' of living space with 3 bedrooms and two baths. As you enter the home and walk up the stairs you will find a functional kitchen with a newer stove and refrigerator. This condo offers a open concept area into the kitchen, dinning area and large living room with a gas fireplace. The patio doors off the living room leads to the patio area overlooking the pond below. There are two nicely sized bedrooms off the hallway. One bedroom offers a Jack and Jill entrance into the main bathroom. The main floor also offers a stackable washer and dryer for all your laundry needs. As you head upstairs to the loft area you will find a large bathroom with soaker tub. The loft area offers a flex room currently being used as a primary bedroom overlooking the living room area below, The unit also offers some storage under the porch outside. This unit is located in a prime location a few blocks from the golf course and lake, within walking distance to the beach and downtown area of Sylvan Lake. (id:65958)
Main level
| Room | Dimensions | Features |
|---|---|---|
| Kitchen | 13.25 Ft x 9.67 Ft | |
| Dining room | 12.33 Ft x 6.42 Ft | |
| Living room | 12.33 Ft x 13.42 Ft | |
| Bedroom | 10.75 Ft x 17.75 Ft | |
| 4pc Bathroom | 5.00 Ft x 7.75 Ft | |
| Bedroom | 10.83 Ft x 12.83 Ft |
Second level
| Room | Dimensions | Features |
|---|---|---|
| Primary Bedroom | 12.42 Ft x 20.00 Ft | |
| 4pc Bathroom | 8.92 Ft x 8.75 Ft |
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
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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).
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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 17, 2026.
Location of this listing. Distances are straight-line.
Full neighbourhood intelligence (schools, halal, mosques, transit) is still building for this address.