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How Much You Can Afford When Applying For A Mortgage

In Canada, the minimum down payment requirements can impact how much you can afford when applying for a mortgage. These rules dictate that the minimum down payment must be:

  • 5% of the purchase price for homes up to $500,000
  • 10% of the purchase price for any amount between $500,000 and $1 million
  • 20% of the purchase price for homes over $1 million.

For example, if you have saved $15,000 for a down payment, the maximum home price you can afford would be $300,000 ($15,000 divided by 5%). However, if your down payment was $30,000, your maximum affordability would increase to $550,000. You can use our mortgage affordability calculator to run the numbers yourself and determine what price range would be suitable for your budget. However, some lenders may require a higher down payment depending on your credit score, employment history, and other factors. It's important to speak with a mortgage lender (I can help with this)to get a more accurate estimate of your down payment requirements.(Loanscanada.ca)

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140 21 Avenue NE
Tuxedo Park Calgary T2E 1S2

$879,900
Residential beds: 2 baths: 2.0 886 sq. ft. built: 1942

Main Photo: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
Photo 1: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
Photo 2: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
Photo 3: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
Photo 4: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
Photo 5: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
Photo 6: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
Photo 7: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
Photo 8: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
Photo 9: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
Photo 10: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
Photo 11: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
Photo 12: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
Photo 13: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
Photo 14: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2155868
Bedrooms:
2
Bathrooms:
2
Year Built:
1942
For more information, please click on Brochure button below. Attention investors and developers! This is your chance to acquire a prime corner lot in the highly desirable Tuxedo Park community. With over 5,700+ sq ft of M-C1 zoned land, this property offers tremendous potential for a multi-family development. A Development Permit application for a 4-Plex with Legal Suites is already in progress, making it an ideal investment for those looking to capitalize on the growth in the area. Each unit is designed to feature 3 bedrooms, 2.5 baths above grade, plus a 1-bedroom, 1-bath legal basement suite, maximizing rental income potential. Disconnection work completed, and the existing home is ready for demolition. This is the perfect opportunity for developers to create a modern, high-demand living space in a fantastic location. Don’t miss out on this incredible opportunity to build in one of the city's most sought-after neighborhoods! DP Drawings not Approved yet so may be modified as required.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Bungalow
Total Living Area:
886 sq. ft.
Main Level Finished Area:
886 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
775 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,733 sq. ft.
Lot Frontage:
48'6"
Acres Cleared:
Acres Cultivated:
Acres Irrigated:
Acres Leasehold:
Acres Not Cultivated:
Acres Freehold:
Acres Seeded:
Acres Tame Hay:
Acres Treed:
Acres Waste:
Acres Water Rights:
Front Exposure:
South
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Northeast
Levels:
One
Total Rooms Above Grade:
5
Year built:
1942 (Age: 82)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:1, Half:1)
Plan:
2129O
Heating:
Exhaust Fan, Natural Gas, Wall Furnace
Basement:
Full, Unfinished
Foundation:
Slab
New Constr.:
No
Construction Material:
Concrete, Stucco, Wood Frame
Structure Type:
House
Roof:
Asphalt
Ensuite:
No
Flooring:
Ceramic Tile, Hardwood
Cooling:
Sep. HVAC Units
Fireplaces:
0
Garage:
1
Garage Spaces:
1
Parking:
Off Street, Single Garage Detached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Laundry Room
Tuxedo Park
Refrigerator, Stove(s)
n/a
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
13' × 11'
Main Floor
Living Room
18' × 11'
Main Floor
Dining Room
12' × 11'2"
Main Floor
Bedroom - Primary
13'5" × 11'9"
Main Floor
Bedroom
10' × 10'
Floor
Ensuite
Pieces
Other
Main Floor
No
3
Main Floor
No
2
Title to Land:
Fee Simple
Community Features:
Golf, Park, Playground, Pool, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s)
Interior Features:
Bookcases, Laminate Counters, Pantry, Storage, Vinyl Windows
Exterior Features:
Garden, Rain Gutters, Storage
Patio And Porch Features:
Front Porch
Lot Features:
Back Lane, Close to Clubhouse, Corner Lot, Corners Marked, Level, Many Trees, Yard Drainage, Treed
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
MC2
Listed Date:
Aug 07, 2024
Days on Mkt:
  • Photo 1: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
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  • Photo 2: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
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  • Photo 3: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
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  • Photo 4: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
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  • Photo 5: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
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  • Photo 6: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
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  • Photo 7: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
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  • Photo 8: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
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  • Photo 9: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
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  • Photo 10: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
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  • Photo 11: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
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  • Photo 13: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
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  • Photo 14: 140 21 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2155868
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Listed by Easy List Realty
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
23
Avg list price:
$799,999
Min list price:
$319,000
Max list price:
$1,200,000
Avg days on market:
54
Min days on market:
2
Max days on market:
206
Avg price per sq.ft.:
$536.26
These statistics are generated based on the current listing's property type and located in Tuxedo Park. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706