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5247 Thomas Street NE
Whether you're looking for your next home, renovation project or redevelopment investment, this property checks all the boxes. Situated on an oversized lot with over 50 feet of frontage and desirable R-CG zoning, the redevelopment potential is exceptional. Backing onto a peaceful greenspace and surrounded by established homes, this is a rare opportunity in a sought-after area. The bright and functional main floor features three spacious bedrooms, a full bathroom, and a large sunroom overlooking the expansive backyard which is perfect for enjoying your morning coffee or entertaining family and friends. The fully developed basement offers even more flexibility with a fourth bedroom, second full bathroom, a generous recreation room with a built-in bar creating plenty of space for extended family, guests or other future possibilities with the separate entrance and municipal permits needed. Pride of ownership is evident throughout with thoughtful maintenance over the years by the original owners, including a brand-new hot water tank installed in July 2026 and furnace around 3 years old. Outside, the oversized single detached garage, RV parking, and large backyard provide endless room for vehicles, toys, hobbies, or future plans.Whether you're looking for a move-in ready family home, a solid investment property, or a prime redevelopment opportunity in a desirable location, this property offers incredible versatility and long-term potential. Enjoy the tranquility of backing onto greenspace today while securing an investment for tomorrow. *See Virtual Tour* (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Family room | 12.00 Ft x 17.17 Ft | |
| Recreational, Games room | 10.67 Ft x 14.58 Ft | |
| Bedroom | 8.25 Ft x 10.58 Ft | |
| 3pc Bathroom | 3.83 Ft x 9.17 Ft | |
| Cold room | 5.33 Ft x 6.17 Ft | |
| Laundry room | 7.25 Ft x 7.92 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Living room | 13.25 Ft x 14.50 Ft | |
| Kitchen | 9.75 Ft x 10.08 Ft | |
| Dining room | 7.58 Ft x 9.50 Ft | |
| Primary Bedroom | 10.67 Ft x 11.25 Ft | |
| Bedroom | 9.17 Ft x 9.67 Ft | |
| Bedroom | 8.08 Ft x 10.08 Ft | |
| 4pc Bathroom | 6.50 Ft x 10.17 Ft | |
| Sunroom | 11.58 Ft x 15.17 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
-1.26%
Cap rate
4.61%
GRM
13.9
Break-even rent
$3,111
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 Jul 12, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
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