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918 38 Street SE
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Beds
4
Baths
2
Sqft
1,120
Year
1961
Type
Single Family
On market
5d
Handyman special or great redevelopment potential with this partly original property situated on a oversized 50' x 125' lot. Whether you're looking for a renovation project, investment property, or future redevelopment opportunity, this bungalow offers plenty of potential. Situated on a mature lot with large established trees, the property features a single front attached garage with direct entry into the home and a concrete driveway, plus a double detached garage that is insulated and heated—ideal for hobbyists, storage, or workshop space.The main floor offers a functional layout with three bedrooms, a 4-piece bathroom, a spacious living room highlighted by a cozy wood-burning fireplace, and plenty of opportunity to update and customize to your taste. The fully developed basement adds valuable living space and includes a kitchen, living area, one bedroom, a 3-piece bathroom, and laundry facilities, providing flexibility for extended family or guests. With solid square footage, multiple garage spaces, and a desirable mature setting, this property presents an excellent opportunity to build equity and unlock its full potential. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Kitchen | 9.00 Ft x 7.75 Ft | |
| Dining room | 12.75 Ft x 9.75 Ft | |
| Family room | 13.00 Ft x 15.58 Ft | |
| Den | 10.58 Ft x 10.92 Ft | |
| Laundry room | 15.83 Ft x 10.92 Ft | |
| Bedroom | 10.00 Ft x 8.17 Ft | |
| 3pc Bathroom | 4.42 Ft x 7.42 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Kitchen | 17.67 Ft x 11.33 Ft | |
| Living room | 17.25 Ft x 11.58 Ft | |
| Primary Bedroom | 12.00 Ft x 12.00 Ft | |
| Bedroom | 9.33 Ft x 12.00 Ft | |
| Bedroom | 9.00 Ft x 11.33 Ft | |
| 4pc Bathroom | 5.08 Ft x 11.33 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
1.10%
Cap rate
5.08%
GRM
12.9
Break-even rent
$2,813
Financing
Operating expenses (monthly)
Save this analysis — go Pro (free)
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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