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Reduced $5,000 (1%) from $599,900
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7581 202 Avenue SE
Beds
3
Baths
3 full + 1 half
Sqft
1,674
Year
2022
Type
Single Family
On market
61d
TURN-KEY INVESTMENT PROPERTY | LEGAL BASEMENT SUITE | RANGEVIEW – 2023 COMMUNITY OF THE YEARAn excellent opportunity for both investors and owner-occupiers. This property features a legal basement suite secured through mid-2027 at one of the higher rental rates in the area, along with a 3-bedroom main unit with a lease ending June 30, offering potential for a July 1 possession.Well suited for first-time buyers seeking an opportunity to enter the market with the benefit of additional rental income from the legal basement suite.The main unit features an open-concept layout with high ceilings, large windows, and durable luxury vinyl plank flooring. The kitchen showcases quartz countertops, stainless steel appliances, upgraded cabinetry, and a generous pantry. Upstairs includes a bright family room, primary suite with walk-in closet and ensuite, plus two additional bedrooms and a full bath.The legal basement suite is thoughtfully finished with a full kitchen, pantry, living area, bedroom, bath, and private entrance, designed to maximize comfort and functionality.With composite siding, great curb appeal, and a prime location near parks, Seton amenities, South Health Campus, and the YMCA, this property offers quality construction, minimal maintenance, and strong long-term rental potential. (id:65958)
Main level
| Room | Dimensions | Features |
|---|---|---|
| 2pc Bathroom | 5.00 Ft x 5.83 Ft | |
| Dining room | 11.92 Ft x 10.92 Ft | |
| Kitchen | 16.33 Ft x 12.83 Ft | |
| Living room | 18.17 Ft x 11.83 Ft |
Second level
| Room | Dimensions | Features |
|---|---|---|
| 3pc Bathroom | 9.08 Ft x 5.00 Ft | |
| 4pc Bathroom | 5.00 Ft x 8.08 Ft | |
| Bedroom | 14.08 Ft x 8.33 Ft | |
| Bedroom | 10.50 Ft x 8.42 Ft | |
| Family room | 11.75 Ft x 13.67 Ft | |
| Laundry room | 6.58 Ft x 4.92 Ft | |
| Primary Bedroom | 13.75 Ft x 11.75 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
-1.12%
Cap rate
4.64%
GRM
13.9
Break-even rent
$3,692
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 Jun 5, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
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