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A-B 141 Queen STREET
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Elbow · Single Family · under $525,000 · 2+ bed · 1+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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Is lake living calling your name? Excellent opportunity here - live in one side and rent out the other one to help cover the costs or split it with family or friends right next door! Excellent curb appeal as you arrive - built in 2012 - hard to find a package like this. Heading into the owners side we find a spacious foyer with access to your attached single garage. This unit has been beautifully updated with modern finishes that make you feel right at home! Heading up to the main we find an spacious living room on one side with patio doors leading to your private back deck - the place you will actually spend your summer evenings. Back inside we find a beautiful galley style kitchen with a stunning farmhouse sink which is sure to be a hit; as well as a dining space. Finishing off the main floor we find a 2 piece bathroom. On the second floor we have 3 bedrooms including the spacious primary bedroom all with beautiful hardwood floors. This level also includes a 4 piece bathroom. In the basement we find a large family room as well as a laundry/utility and storage spaces. The other unit is a mirrored layout to this one. Excellent opportunity to own an income producing 4 season lake property. Located in the bustling little resort town of Elbow - with world class golf, a marina and located on Lake Diefenbaker. Only a short walk from the lake or the shops. Quick possession of one side is available. Reach out today to book your viewing! (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Family room | 12'8" x 22'9" | |
| Laundry room | 8'2" x 8'3" | |
| Storage | — |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Foyer | 5'7" x 7'6" | |
| Living room | 11'1" x 18'5" | |
| Dining room | 5'10" x 7'1" | |
| Kitchen | 6'8" x 10'2" | |
| 2pc Bathroom | 4'7" x 5'4" |
Second level
| Room | Dimensions | Features |
|---|---|---|
| Dining nook | 5'8" x 5'10" | |
| Primary Bedroom | 10'10" x 13'6" | |
| 4pc Bathroom | 7'2" x 7'5" | |
| Bedroom | 7'2" x 13'7" | |
| Bedroom | 10'3" x 10'6" |
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
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Suite legality / potential
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Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
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Insurance estimate
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Commute
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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
-6.78%
Cap rate
3.51%
GRM
16.5
Break-even rent
$2,965
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.
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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 3, 2026.
Location of this listing. Distances are straight-line.
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