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5310 50 Avenue
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Castor · Other · under $250,000. Alerts only send when there are new or meaningfully updated matching homes.
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Currently this retired fire hall is hosting a couple of tenants to make use of this spacious building. The side area to the east has a three bedroom(offices), kitchen area and a large open area for a living room. This area was originally for the fire personal to use. The double garage to the south has two large doors 10x10, with openers and one remote, making this a great income property for the investor. The other side of the wall is a separate two bay building, doors are 12x12, that once held all the fire vehicles, now is a rental to the Bottle Depot business, also making this a great little income for the owner. The incomes are as follows, the apartments are renting for $1500 per month, $750 for the two smaller bay garages, $700 for the other bay that the Bottle Depot has rented. The building was build in 1979, is cinder block, has a metal roof, brick facing on the curb side and renovations have been done in 2007, 2009, and new furnaces and paint in residence in 2024. (id:65958)
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
24.10%
Cap rate
9.68%
GRM
7.8
Break-even rent
$1,449
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 16, 2025.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Castor. The listing facts above are live.