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Red Deer · Single Family · under $525,000 · 3+ bed · 2+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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99 Iverson Close
Fantastic investment opportunity featuring a legal suite in a prime southeast location close to schools, parks, playgrounds, transit, and convenient highway access. The bright and spacious main floor offers an open-concept design with vaulted ceilings and an abundance of natural light. The functional kitchen is well-appointed with a pantry, pots-and-pans drawers, coffee bar, and corner sink overlooking the yard. A garden door leads to the rear deck, perfect for outdoor enjoyment. The generous primary bedroom easily accommodates a king-sized bed and includes double closets and a private 3-piece ensuite. A second good-sized bedroom and full 4-piece bathroom complete the main level. The lower level includes a dedicated laundry and storage area for the main floor. A separate entrance leads to the updated 2-bedroom legal basement suite featuring 9-foot ceilings, large windows, and durable vinyl plank flooring throughout. The basement offers two spacious bedrooms, a full 4-piece bathroom, and its own stackable washer and dryer. The backyard is divided with fencing to provide each unit its own private outdoor space. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Furnace | 9.25 Ft x 8.25 Ft | |
| Living room | 18.17 Ft x 23.17 Ft | |
| Primary Bedroom | 14.25 Ft x 12.92 Ft | |
| Bedroom | 12.25 Ft x 9.67 Ft | |
| 4pc Bathroom | 8.00 Ft x 9.58 Ft | |
| Kitchen | 8.25 Ft x 8.25 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Living room | 13.42 Ft x 11.25 Ft | |
| Dining room | 10.42 Ft x 14.25 Ft | |
| Kitchen | 9.67 Ft x 14.25 Ft | |
| Primary Bedroom | 14.25 Ft x 16.33 Ft | |
| 3pc Bathroom | 8.00 Ft x 5.17 Ft | |
| 4pc Bathroom | 7.83 Ft x 7.42 Ft | |
| Bedroom | 10.75 Ft x 12.92 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
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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
-1.47%
Cap rate
4.57%
GRM
13.9
Break-even rent
$3,025
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.
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Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Jun 22, 2026.
Location of this listing. Distances are straight-line.
Full neighbourhood intelligence (schools, halal, mosques, transit) is still building for this address.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.