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Legal suite

$1,190,000

8738 PALMER Place

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Beds

Baths

4 full + 1 half

Sqft

—

Year

2017

Type

Single Family

Suite

Legal suite

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Location nearby

Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Summerland. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

About this home

Beautiful 9-year-old family home with a legal 2-bedroom suite, perfectly located in a quiet, desirable area of Summerland. This well-maintained 5-bedroom main home offers quality finishes throughout, including hardwood flooring, granite countertops, and a cozy gas fireplace in the open-concept living area. The spacious covered deck is perfect for year-round entertaining and enjoys stunning views of Giants Head Mountain. The additional 2-bedroom legal suite provides excellent mortgage-helping income or space for extended family. Just minutes from downtown, schools, recreation facilities, and surrounded by hiking and biking trails, this property offers the perfect blend of lifestyle, comfort, and investment potential. (id:65958)

Subtype: Single Family
Architectural style: Ranch
Structure: House
Community: Main Town
Common interest: Freehold
Living area: 3,134 square feet
Lot size: 0.24 acres
Lot dimensions: 0.24
Parking: 4 total
Stories: 2
Fireplace: 1
On market: Apr 20, 2026
Status changed: Apr 21, 2026
Annual tax: $5,296.36
Photos: 45
MLS#: 10383844
Area: SUMMERLAND

Features and systems

Parking

OtherAdditional Parking

Basement

Full

Appliances

WasherRefrigeratorDishwasherRangeDryerMicrowave

Heating

Forced airSee remarks

Cooling

Central air conditioning

Exterior

Other

Roof

Asphalt shingleUnknown

View

Mountain view

Negative cash flow ~$144/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)Default 4.5% — adjust to your rate holdAmortization (years)

Cash on cash

-0.73%

Cap rate

4.72%

GRM

13.9

Break-even rent

$7,302

Financing

Down payment$238,000

Loan amount$952,000

Mortgage$4,824/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$545

Insurance$80

Maintenance$992

CapEx reserve$496

Vacancy loss$358

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

Estimated $4,824/mo at 4.5% with 20% down, 30-yr amortization.Estimate only — actual payment varies by qualification + insurance.

Listing brokerage

Listing brokerage on file

Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 21, 2026.