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Red Deer · Single Family · under $300,000 · 3+ bed · 1+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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59 Nichols Crescent
Excellent opportunity for investors or first-time home buyers! This well-maintained duplex offers strong revenue potential with separate upper and lower suites, each occupied by tenants and featuring their own private laundry facilities , separate kitchens and separate entrances. The upper level boasts a bright and spacious layout with 3 bedrooms, a full 4-piece bathroom, and an open-concept kitchen offering abundant counter space and plenty of natural light through updated vinyl windows. The inviting living space is ideal for family living or entertaining guests. The lower suite features a comfortable open layout with 1 bedroom, a full bathroom, its own laundry area, and ample storage space, making it an attractive option for tenants or extended family. Pride of ownership is evident throughout, with the property having been well cared for and consistently maintained. Outside, you'll discover a private backyard retreat surrounded by mature trees and bushes, creating a peaceful oasis to relax and unwind or entertain friends and family. The large covered deck is perfect for enjoying your morning coffee, hosting gatherings, or simply taking in the tranquility of the private fully fenced yard. Conveniently located within walking distance of one of Red Deer’s community garden plots, where you can enjoy growing your own vegetables and flowers. Shopping, restaurants, fast food, and essential services are all just minutes away. You'll also appreciate the nearby community recreation centre, complete with waterslides, an indoor pool, hot tub, sauna, steam room, fitness facilities, gymnasium, indoor walking/running track, and ice rinks. Whether you're looking to expand your investment portfolio or step into homeownership with mortgage-helping rental income, this versatile property is a must-see. Make it yours today! (id:65958)
Lower level
| Room | Dimensions | Features |
|---|---|---|
| Other | 19.83 Ft x 20.25 Ft | |
| 4pc Bathroom | 7.67 Ft x 5.00 Ft | |
| Laundry room | 21.08 Ft x 9.67 Ft | |
| Primary Bedroom | 10.75 Ft x 19.33 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Living room | 11.08 Ft x 20.42 Ft | |
| Kitchen | 9.50 Ft x 14.42 Ft | |
| Other | 3.00 Ft x 5.58 Ft | |
| Hall | 3.00 Ft x 18.00 Ft | |
| 4pc Bathroom | 12.25 Ft x 4.92 Ft | |
| Bedroom | 7.58 Ft x 12.33 Ft | |
| Bedroom | 8.33 Ft x 13.67 Ft | |
| Primary Bedroom | 12.33 Ft x 13.67 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
23.79%
Cap rate
9.62%
GRM
7.9
Break-even rent
$1,752
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 30, 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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