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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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198 Masters Avenue SE
Mahogany Calgary T3M 2B7

$585,000
Residential beds: 3 baths: 4.0 1,088 sq. ft. built: 2016

Patio Vibes!
Photo 1: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 2: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 3: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 4: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 5: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 6: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 7: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 8: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 9: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 10: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 11: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 12: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 13: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 14: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 15: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 16: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 17: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 18: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 19: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Photo 20: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2091364
Bedrooms:
3
Bathrooms:
4
Year Built:
2016
YOOHOO!! Attention all real estate enthusiasts! Are you tired of searching for the needle in a haystack? Well, get ready to strike gold with this gem of a property. Don't miss your chance to snag this opportunity at TODAY'S prices and take over an already guaranteed tenant until 2025. Hello, passive income! Fully developed, 3 total bedrooms & 3.5 baths! Step inside and prepare to be wowed by the open-concept main floor plan, perfect for hosting epic gatherings or cozy nights in with loved ones. Want more? How about a front lifestyle room AND a smartly designed rear kitchen and dining area? That's right, we've got it all. Upstairs boasts not one but TWO master bedrooms, each with its own ensuite and walk-in closet big enough to fit all your king-sized bed dreams (and extra furniture too). Talk about EQUALITY! But wait, there's more! This prime location is steps away from the Mahogany wetlands where you can immerse yourself in nature or take a leisurely stroll down to the main beach for some sun-kissed relaxation. It's like having your own personal vacation spot right at your doorstep. So whether you're a young professional looking for a trendy pad, an empty nester seeking low-maintenance living or a young family craving space and convenience - this home has got you covered. But don't just take our word for it, come see for yourself and make this aweome home yours today! Prices are continuing to climb so now is the time to take this opportunity into consideration! Let's go see it!
Property Type:
Residential
Property Sub Type:
Semi Detached (Half Duplex)
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey, Side by Side
Total Living Area:
1,088 sq. ft.
Main Level Finished Area:
540 sq. ft.
Upper Level Finished Area:
548 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
488 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
3,013 sq. ft.
Lot Frontage:
26'9¼"
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:
Southwest
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Southwest
Entry Level:
1
Levels:
Two
End Unit:
1 Common Wall
Total Rooms Above Grade:
5
Year built:
2016 (Age: 8)
Bedrooms:
3 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
1413493
Heating:
High Efficiency, Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Composite Siding
Structure Type:
Duplex
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Vinyl Plank
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Additional Parking, Alley Access, Off Street, Parking Pad
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Basement
HOA Fee:
$584.07
Mahogany
Beach Access, Boating, Clubhouse, Dog Park, Park, Party Room, Picnic Area, Playground, Racquet Courts, Recreation Facilities, Recreation Room, Visitor Parking
Dishwasher, Dryer, Gas Range, Microwave Hood Fan, Refrigerator, Washer
N/A
None Known
Floor
Type
Size
Other
Main Floor
Dining Room
10'4" × 8'10"
Main Floor
Kitchen
15' × 13'5"
Main Floor
Living Room
15' × 12'
Upper Level
Bedroom
11'9" × 11'6"
Upper Level
Bedroom - Primary
13'1" × 11'
Upper Level
Walk-In Closet
8'4" × 5'5"
Lower Level
Bedroom
9'3" × 8'8"
Lower Level
Game Room
17'9" × 6'1"
Lower Level
Furnace/Utility Room
10'4" × 8'10"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
4'11" x 5'6"
Upper Level
Yes
3
8'11" x 6'11"
Upper Level
Yes
4
5' x 9'
Lower Level
No
4
7'8" x 5'
Title to Land:
Fee Simple
Community Features:
Clubhouse, Fishing, Lake, Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s), Walking/Bike Paths
Interior Features:
High Ceilings, Breakfast Bar, Kitchen Island, No Smoking Home, Quartz Counters, Soaking Tub, Vinyl Windows, Walk-In Closet(s)
Exterior Features:
Private Yard
Patio And Porch Features:
Deck
Lot Features:
Back Lane, Back Yard, Fruit Trees/Shrub(s), Front Yard, Lawn, Landscaped, Level, Private
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
R2-M
Listed Date:
Nov 03, 2023
Days on Mkt:
  • Photo 1: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Patio Vibes!
  • Photo 2: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Modern Build Design
  • Photo 3: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Entertaining Kitchen/Dining
  • Photo 4: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Stainless Steel Appliances
  • Photo 5: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Cozy dining area
  • Photo 6: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Living Room
  • Photo 7: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    1/2 bath
  • Photo 8: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Cutie little design spaces. Hello Pinterest!
  • Photo 9: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Primary 1 with King Size bed and oversize furniture able to fit no problem!
  • Photo 10: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Photo 10 of 20
  • Photo 11: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Photo 11 of 20
  • Photo 12: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Main Floor Plan
  • Photo 13: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Upper Floor Plan
  • Photo 14: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Lake Mahogany
  • Photo 15: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Mahogany Landscape
  • Photo 16: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Mahogany
  • Photo 17: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Wetlands
  • Photo 18: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Gorgeous Parks
  • Photo 19: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Beach!
  • Photo 20: 198 Masters Avenue SE in Calgary: Mahogany Semi Detached (Half Duplex) for sale : MLS®# A2091364
    Beach Club
Listed by Real Broker
Data was last updated November 10, 2024 at 02:05 PM (UTC)
Area Statistics
Listings on market:
105
Avg list price:
$673,900
Min list price:
$284,999
Max list price:
$2,795,000
Avg days on market:
37
Min days on market:
2
Max days on market:
373
Avg price per sq.ft.:
$456.7
These statistics are generated based on the current listing's property type and located in Mahogany. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706