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Calgary · Single Family · under $600,000 · 4+ bed · 3+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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56 Fallingworth Bay NE
Rare opportunity to own a spacious bungalow with 2-bedroom LEGAL BASEMENT SUITE on a quiet street in Falconridge. This well-maintained property offers over 2,057 sq. ft. of developed living space and is ideal for families, investors, or buyers seeking mortgage helping rental income from already rented basement suite and tenants are willing to stay.The bright and functional main floor features a living room, three generously sized bedrooms, 1.5 bathrooms, a spacious kitchen with ample cabinetry, and a dining area perfect for everyday living and entertaining. The fully legal basement suite offers a separate entrance, two bedrooms, 1.5 bathrooms, a full kitchen, and a comfortable living area, creating excellent income potential or space for extended family. Shared laundry is conveniently located with secure access for both levels. Outside, the oversized backyard provides plenty of room for outdoor entertaining, gardening, children's play areas, or simply enjoying the privacy and space. Situated on a peaceful street and within walking distance to schools, parks, shopping, and public transit, this property offers the perfect combination of comfort, convenience, and value. Whether you're looking for a family home with supplemental income or a smart investment opportunity, this is a property you won't want to miss. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| 2pc Bathroom | 4.75 Ft x 3.58 Ft | |
| 4pc Bathroom | 4.92 Ft x 7.58 Ft | |
| Bedroom | 14.92 Ft x 11.42 Ft | |
| Kitchen | 6.33 Ft x 10.75 Ft | |
| Furnace | 14.92 Ft x 10.50 Ft | |
| Primary Bedroom | 15.50 Ft x 11.50 Ft | |
| Living room/Dining room | 17.67 Ft x 14.25 Ft | |
| Storage | 8.67 Ft x 5.50 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| 2pc Bathroom | 3.67 Ft x 5.08 Ft | |
| 4pc Bathroom | 8.75 Ft x 5.00 Ft | |
| Primary Bedroom | 10.25 Ft x 11.25 Ft | |
| Bedroom | 10.00 Ft x 11.33 Ft | |
| Bedroom | 9.50 Ft x 8.08 Ft | |
| Dining room | 9.08 Ft x 10.17 Ft | |
| Foyer | 6.00 Ft x 5.33 Ft | |
| Kitchen | 12.42 Ft x 12.25 Ft | |
| Living room | 15.50 Ft x 10.33 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
-0.31%
Cap rate
4.80%
GRM
13.5
Break-even rent
$3,329
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 Jun 24, 2026.
Location of this listing. Distances are straight-line.
Key nearby — mosques, halal & Islamic schools
Mosque
855 m away
Al Madinah Islamic Centre
1.7 km away
Al-Hedaya Islamic Centre
2.5 km away
Hazrat Bilal Islamic Center
3.2 km away
3.2 km away
Elementary
Calgary Islamic School – Akram Jomaa Campus
Islamic · K–9
3.4 km away
Calgary Islamic School – Omar Bin Al-Khattab Campus
Islamic · K–9
6.7 km away
7.5 km away
Halal grocery
Shaheen Grocery, Bakery & Halal Meat
599 m away
Amir Halal Meats & Grocery
6.8 km away
Distances are straight-line (not drive time). Full neighbourhood intelligence (schools, transit, parks) builds automatically.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.