$289,900
7720 Patterson Drive
Beds
3
Baths
2
Sqft
—
Year
1975
Type
Single Family
Suite
Non-conforming suite
Location nearby
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Grande Prairie. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
About this home
Located in convenient Patterson, this up/down property presents a fantastic opportunity for investors or buyers seeking reliable rental income. The home is configured with two fully self-contained suites, upper unit with 2 bedrooms and one bathroom, basement with 1 bedroom & 1 bathroom along with separate heat sources for added comfort and efficiency. The upper suite features updated flooring and a refreshed kitchen and is currently rented month to month at $1,350, while the lower suite is rented for $1,050 month to month. Rent includes all utilities and internet, as the property is not separately metered, creating a simple and attractive setup for both tenants and owners. Both tenants have expressed interest in staying, providing immediate and stable income. Conveniently located close to a bus stop, the property also offers excellent exterior amenities including a carport, a fully fenced yard, and a shed for additional storage. This is a solid income-producing property! Suite is legal non-conforming. (id:65958)
- Subtype
- Single Family
- Architectural style
- Bungalow
- Structure
- House
- Community
- Patterson Place
- Common interest
- Freehold
- Living area
- 779 square feet
- Lot size
- 337.3 square meters
- Lot dimensions
- 337.30
- Bedrooms
- 2 above grade, 1 below grade
- Parking
- 2 total
- Stories
- 1
- On market
- Jan 22, 2026
- Status changed
- Apr 23, 2026
- Annual tax
- $2,597 (2025)
- Zoning
- RG
- Photos
- 29
- MLS#
- A2281067
- Area
- GRANDE_PRAIRIE
Features and systems
Parking
Basement
Appliances
Heating
Cooling
Construction
Flooring
Foundation
Lot
Cash on cash
10.96%
Cap rate
7.06%
GRM
10.1
Break-even rent
$1,842
Financing
Operating expenses (monthly)
Estimates 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.
Mortgage estimate
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 23, 2026.