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5801 41 Street Crescent
Professionally renovated bungalow with a legal secondary suite in desirable West Park! Situated on a mature corner lot directly across from a playground, this property offers an excellent opportunity for homeowners, investors, or those seeking mortgage-helping rental income. The bright and inviting main floor features a spacious open-concept layout with vinyl plank throughout, a beautifully updated kitchen complete with tile backsplash, brand-new stainless steel appliances, and an adjoining dining and living area perfect for everyday living and entertaining. The main level also offers three bedrooms, including a primary bedroom, and a renovated 4-piece bathroom featuring a relaxing soaker tub with subway tile surround. The fully developed legal basement suite features its own private entrance from the rear of the property, providing added privacy and convenience for occupants. The suite offers vinyl plank flooring throughout, two bedrooms, a 3-piece bathroom with corner shower, and a functional kitchenette that opens to the family room highlighted by a stylish stone feature wall. White appliances are included in the suite. Both suites share access to a common laundry, mechanical, and storage area. Outside, you'll appreciate the mature trees, detached double garage measuring 23' x 19', additional gravel parking, and spacious yard space. The location is hard to beat, with schools, shopping, Red Deer Polytechnic, parks, playgrounds, walking trails, and bike paths all nearby. A move-in-ready property offering modern updates, excellent functionality, and income potential in one of Red Deer's most convenient neighborhoods. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Bedroom | 10.58 Ft x 13.83 Ft | |
| Bedroom | 8.58 Ft x 12.83 Ft | |
| 3pc Bathroom | .00 Ft x .00 Ft | |
| Other | 7.33 Ft x 10.00 Ft | |
| Cold room | 4.08 Ft x 18.00 Ft | |
| Family room | 12.83 Ft x 16.67 Ft | |
| Furnace | 10.75 Ft x 17.33 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Kitchen | 12.83 Ft x 13.00 Ft | |
| Dining room | 8.25 Ft x 9.33 Ft | |
| Living room | 12.83 Ft x 16.17 Ft | |
| Other | 3.75 Ft x 5.25 Ft | |
| Bedroom | 7.83 Ft x 9.75 Ft | |
| Bedroom | 9.25 Ft x 11.92 Ft | |
| Primary Bedroom | 10.92 Ft x 11.92 Ft | |
| 4pc Bathroom | .00 Ft x .00 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
9.28%
Cap rate
6.72%
GRM
10.6
Break-even rent
$2,619
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.
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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 19, 2026.
Location of this listing. Distances are straight-line.
Full neighbourhood intelligence (schools, halal, mosques, transit) is still building for this address.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.