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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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10 St Monica Avenue SE
Inglewood Calgary T2G 3Y3

$910,000
Residential beds: 5 baths: 2.0 662 sq. ft. built: 1948

Main Photo: 10 St Monica Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2136450
Photo 1: 10 St Monica Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2136450
Photo 2: 10 St Monica Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2136450
Photo 3: 10 St Monica Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2136450
Photo 4: 10 St Monica Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2136450
Photo 5: 10 St Monica Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2136450
Photo 6: 10 St Monica Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2136450
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Photo 8: 10 St Monica Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2136450
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Photo 49: 10 St Monica Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2136450
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2136450
Bedrooms:
5
Bathrooms:
2
Year Built:
1948
Welcome to 10 St Monica Ave SE, a 5-bedroom, 2-bathroom bungalow nestled in the heart of Calgary's vibrant and historic Inglewood neighborhood. This property presents an exceptional investment opportunity, offering the potential to renovate or redevelop in one of the city's most desirable areas. With five bedrooms, there's plenty of room for everyone. The main floor includes three bedrooms, while the fully finished basement offers two additional bedrooms, providing flexibility and space for a growing family or home office needs. Step outside to the backyard, perfect for outdoor activities and summer barbecues. The backyard offers a private retreat with mature trees and a spacious patio area. Short distance to restaurants, shopping centre, park, playground, Inglewood Aquatic Centre, Calgary Zoo and more. This property represents a rare opportunity for investors to transform a charming bungalow into a modern masterpiece in one of Calgary's most dynamic neighborhoods. Don't miss out on the chance to be part of Inglewood's exciting future. Contact your favourite realtor today to schedule a viewing and explore the potential of this exceptional investment!
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:
662 sq. ft.
Main Level Finished Area:
662 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
442.3 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
3,573 sq. ft.
Lot Frontage:
38'
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:
Southeast
Reg. Size:
Reg. Size Includes:
Levels:
One
Total Rooms Above Grade:
5
Year built:
1948 (Age: 76)
Bedrooms:
5 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
2
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0312086
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stucco, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Hardwood, Linoleum
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Off Street
Parking Places:
0.0
Parking Total/Covered:
0 / -
Laundry Features:
In Basement
Inglewood
Refrigerator, Stove(s), Washer/Dryer
None
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
12'1" × 7'10"
Main Floor
Bedroom
9'5" × 8'5"
Main Floor
Bedroom
9'6" × 8'7"
Main Floor
Living Room
12'3" × 11'5"
Main Floor
Entrance
6'3" × 3'10"
Main Floor
Bedroom - Primary
11'6" × 8'9"
Basement
Bedroom
19'11" × 8'5"
Basement
Furnace/Utility Room
10'2" × 9'1"
Basement
Bedroom
8'10" × 8'8"
Basement
Game Room
7'11" × 7'11"
Basement
Laundry
11' × 4'8"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
4'10" x 5'9"
Basement
No
4
8' x 5'9"
Title to Land:
Fee Simple
Community Features:
Golf, Park, Playground, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
No Smoking Home
Exterior Features:
Private Yard
Patio And Porch Features:
Deck
Lot Features:
Back Yard
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
R-C2
Listed Date:
Jun 03, 2024
Days on Mkt:
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Listed by Realty Link Management.Services Ltd.
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
28
Avg list price:
$622,450
Min list price:
$305,000
Max list price:
$3,090,000
Avg days on market:
47
Min days on market:
5
Max days on market:
291
Avg price per sq.ft.:
$572.9
These statistics are generated based on the current listing's property type and located in Inglewood. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706