NEW CONSTRUCTION HOMES FOR SALE UNDER $300,000 IN CALGARY

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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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When contacting me, please ensure to include the property address or MLS® number for the listing you are interested in. I look forward to hearing from you!

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1-4 308 3 Street W
Central Brooks T1R 0E7

$599,000
Multi-Family 4,806 sq. ft. built: 1996

Main Photo: 1-4 308 3 Street W: Brooks 4 plex for sale : MLS®# A2163543
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Photo 28: 1-4 308 3 Street W: Brooks 4 plex for sale : MLS®# A2163543
Status:
Active
Prop. Type:
Multi-Family
MLS® Num:
A2163543
Year Built:
1996
Executive 4 plex in great central location. Walking distance to schools, hospital, daycare, churches, downtown and uptown! 2storey, 2 bedroom, 2.5 bathroom units. Front units include single attached garage (access to unit via basement). Back units have family room or bonus room developed in the basement. Primary suites with walk-in closets and 3 piece ensuite. These air conditioned units all include stone faced gas fireplaces. Current rent roll of $5000 with each unit paying their own gas and electricity. Owner currently pays water, sewer, garbage (average per month/per unit - approx $75) units are separately metered. All leases are periodic and currently monthly. Perfect opportunity to live in one unit and rent out the other 3! Or add to an existing portfolio.
Property Type:
Multi-Family
Property Sub Type:
4 plex
Transaction Type:
For Sale
Possession:
Possession Date:
Home Style:
2 Storey
Total Living Area:
4,806 sq. ft.
Main Level Finished Area:
2,438 sq. ft.
Upper Level Finished Area:
2,369 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
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:
Reg. Size:
Reg. Size Includes:
Year built:
1996 (Age: 28)
Bathrooms:
- (Full:-, Half:-)
Plan:
9610732
Heating:
Forced Air, Natural Gas
Basement:
Full, Partially Finished
Foundation:
Poured Concrete
Construction Material:
Brick, Wood Frame
Structure Type:
Four Plex
Roof:
Asphalt Shingle
Ensuite:
No
Cooling:
Central Air
Fireplaces:
4
Fireplace Details:
Gas, Living Room
Garage:
0
Garage Spaces:
2
Parking Places:
8.0
Parking Total/Covered:
8 / -
Central
Central Air Conditioner, Dishwasher, Garage Control(s), Refrigerator, Stove(s), Washer/Dryer
4 Fridges, 4 Stoves, 4 Dishwashers, 4 Washers, 4 Dryers, 2 central vac and existing attachements, 4 central a/c units
None Known
Title to Land:
Fee Simple
Num. of Parcels:
0
Region:
Brooks
Zoning:
RHD
Listed Date:
Sep 09, 2024
Days on Mkt:
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Listed by RE/MAX Main Street Realty and RE/MAX Real Estate (Central)
Data was last updated September 20, 2024 at 04:05 PM (UTC)
Diane Richardson
Cell: 403-397-3706