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303, 5812 61 Street
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Beds
2
Baths
1
Sqft
758
Year
1979
Type
Single Family
On market
13d
Perfect for first-time buyers, downsizers, or investors! This top-floor 2 bedroom condo offers a spacious south-facing living room filled with natural light, complete with a cozy fireplace, patio door, and private balcony. Featuring laminate and tile flooring throughout, with flooring replaced in 2025, this unit is both comfortable and low maintenance.Conveniently located near major bus routes and close to Bower Ponds, this property offers great access to recreation and everyday amenities. The full 4-piece bathroom features ceramic tile flooring, and the common laundry room is conveniently located on the same level.Enjoy low condo fees that include heat and water, along with insurance, sewer, garbage, snow removal, lawn care, and exterior maintenance — tenant or owner only pays for power. The building has seen extensive interior and exterior improvements, including a new intercom system and security cameras throughout the building.Currently tenant occupied with rent at $1,250/month and lease in place until September 2026, making this an excellent turnkey investment opportunity. Comes with one paved assigned parking stall with power, plus additional street parking nearby.A great opportunity for an investor, first-time buyer, or anyone looking for affordable ownership in a well-maintained building! Current oven will be replaced with newer white one to match Refrigerator. (id:65958)
Main level
| Room | Dimensions | Features |
|---|---|---|
| Primary Bedroom | 13.00 Ft x 10.00 Ft | |
| Living room | 15.83 Ft x 12.00 Ft | |
| Bedroom | 12.42 Ft x 8.00 Ft | |
| 4pc Bathroom | 7.00 Ft x 7.42 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
51.68%
Cap rate
15.20%
GRM
5.3
Break-even rent
$812
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.
Rough ballpark only. Pick a down-payment option, then tap any underlined number below to plug in your real numbers — tax, condo fee, insurance, utilities. Total updates live. Confirm with a mortgage broker before writing an offer.
Cost lines (tax, condo, insurance, utilities) are editable inline above. These two control the mortgage payment math.
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. Suite rental income depends on permits, market rent, and vacancy — confirm with a property manager. Always validate your scenario with a mortgage broker and your insurance provider 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 May 27, 2026.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Red Deer. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.