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536 21 Street S
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Lethbridge · Single Family · under $425,000 · 2+ bed · 1+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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Located in South Lethbridge, this property offers a practical opportunity for buyers looking to offset living costs or add a flexible income property to their portfolio. Configured with an illegal suite, the home features a one bedroom main floor layout with the potential to convert back to two bedrooms, along with two bedrooms downstairs, with separate kitchens and living spaces on each level that allow for a variety of living or rental arrangements. The main floor opens into a bright, wrap around living space where a sliding patio door at the back brings in plenty of natural light and provides access to the yard. Just off the living space is a four piece bathroom and a primary bedroom, positioned for privacy from the main area. The layout also allows for the option to reintroduce a wall and create an additional bedroom depending on the needs of the next owner. The kitchen offers a functional layout for everyday living, with access to a side entrance that leads to the basement level, creating a convenient setup for a separate living space. Downstairs, the illegal suite includes its own living room, full kitchen, two bedrooms, and a three piece bathroom with a stand up shower. With a self contained layout and separate entry, the space offers flexibility for extended family or tenants. Outside, the backyard provides room to enjoy while the single detached garage adds valuable storage and parking, along with additional off street parking for multiple vehicles. Situated at 536 21 Street South, the home is close to schools, shopping, transit routes, and everyday amenities, with quick access to Mayor Magrath Drive for easy travel across the city. With its illegal suite configuration, value add potential on the main floor, and flexible layout, this property presents a practical option for buyers looking to combine homeownership with income potential in South Lethbridge. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Kitchen | 11.33 Ft x 6.58 Ft | |
| Bedroom | 10.25 Ft x 11.08 Ft | |
| Bedroom | 9.17 Ft x 9.25 Ft | |
| 3pc Bathroom | .00 Ft x .00 Ft | |
| Recreational, Games room | 18.50 Ft x 15.92 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Kitchen | 11.83 Ft x 13.00 Ft | |
| Dining room | 10.42 Ft x 12.17 Ft | |
| Living room | 18.00 Ft x 11.50 Ft | |
| 4pc Bathroom | .00 Ft x .00 Ft | |
| Primary Bedroom | 11.83 Ft x 12.17 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
-0.68%
Cap rate
4.73%
GRM
13.5
Break-even rent
$2,446
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.
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 9, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
Location of this listing. Distances are straight-line.
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