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Reduced $5,000 (2%) from $319,900
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Canwood Rm No. 494 · Agriculture · under $350,000 · 3+ bed · 1+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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RM Canwood Farm Land
162 Titled Acres – RM of Canwood No. 494 ---- A rare chance to secure 162 titled acres in the RM of Canwood #494. Classified with a Soil Quality rating of “F”, SAMA reports 40 cultivated acres, along with 32 acres of Aspen pasture and 60 acres of native grass. With much of the surrounding land already in crop production, there is strong potential to convert additional acres into quality cultivated farmland. The currently cultivated acres are being used for organic hay production, offering flexibility for future cropping plans. ---- Yardsite & Buildings with a well-established mature shelterbelt is included and is presently occupied by a month-to-month tenant who is interested in staying—providing immediate supplemental income if desired. The yardsite features: 880 sq. ft. Sears 1.5-storey catalogue home (built 1925) -- 4 bedrooms -- 1 bathroom -- Well water -- Propane heat (leased tank) -- Newer Metal roof -- 840 sq. ft. BARN with metal roof and power -- Additional outbuildings previously used as a chicken coop and livestock shelters (horses, cattle) ----- Whether you’re looking to expand your farming operation, convert more acres into crop production, or establish a hobby farm with rental income, this property offers versatility and value. Opportunities to purchase 162 acres with a functional yardsite at this price point DO NOT come around often. (id:65958)
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
16.40%
Cap rate
8.14%
GRM
9.0
Break-even rent
$1,994
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.
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 27, 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.