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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  2. Phone Number: Call me directly at 403.397.3706 with any questions or to schedule viewings.

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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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2820 Morley Trail NW
Banff Trail Calgary T2M 4G7

$1,350,000
Residential beds: 7 baths: 5.0 2,104 sq. ft. built: 1957

Main Photo: 2820 Morley Trail NW in Calgary: Banff Trail Detached for sale : MLS®# A2153791
Photo 1: 2820 Morley Trail NW in Calgary: Banff Trail Detached for sale : MLS®# A2153791
Photo 2: 2820 Morley Trail NW in Calgary: Banff Trail Detached for sale : MLS®# A2153791
Photo 3: 2820 Morley Trail NW in Calgary: Banff Trail Detached for sale : MLS®# A2153791
Photo 4: 2820 Morley Trail NW in Calgary: Banff Trail Detached for sale : MLS®# A2153791
Photo 5: 2820 Morley Trail NW in Calgary: Banff Trail Detached for sale : MLS®# A2153791
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Photo 45: 2820 Morley Trail NW in Calgary: Banff Trail Detached for sale : MLS®# A2153791
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2153791
Bedrooms:
7
Bathrooms:
5
Year Built:
1957
This unique tri-plex property is a significant revenue generator and prime investment opportunity. With M-C1 zoning for mixed residential developments, it offers the potential for future redevelopment into an apartment complex. The newly renovated features a spacious open kitchen with a large island on the main floor, ideal for hosting. Each of the three large bedrooms on the main level has its own ensuite, ensuring privacy and comfort for guests or tenants. The lower level adds flexibility and convenience with separate entrances, accommodating two legal suites, with bathrooms shared between every two bedrooms. Originally a 4-plex, it now includes four furnaces and four new water tanks for separate meters. The targeted rental income is $3,200 per month for the lower level, while the Airbnb income averages $8,000 per month for the main level. Ample parking includes a large pad suitable for RVs or boats, and additional storage is available with an outdoor shed. Located near a university and high school, this property is an attractive investment and poised for significant cash flow enhancement and future development potential.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Legal
Home Style:
Bi-Level, Up/Down
Total Living Area:
2,104.34 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
6,006 sq. ft.
Lot Frontage:
50'
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:
Levels:
One
End Unit:
No Common Walls
Total Rooms Above Grade:
5
Year built:
1957 (Age: 67)
Bedrooms:
7 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
4
Bathrooms:
5.0 (Full:5, Half:0)
Plan:
907GS
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
House
Roof:
Rolled/Hot Mop
Ensuite:
Yes
Flooring:
Ceramic Tile, Hardwood
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Wood Burning
Garage:
0
Parking:
Parking Pad, RV Access/Parking
Parking Places:
5.0
Parking Total/Covered:
5 / -
Laundry Features:
In Unit
Z-name Not Listed
Banff Trail
Dishwasher, Dryer, Microwave, Range Hood, Refrigerator, Stove(s), Washer, Window Coverings
N/A
None Known
Floor
Type
Size
Other
Main Floor
Living Room
14'5" × 12'10"
Main Floor
Bedroom - Primary
14'5" × 13'1"
Main Floor
Bedroom
21' × 14'5"
Main Floor
Bedroom
21' × 11'2"
Main Floor
Storage
5'7" × 5'3"
Main Floor
Kitchen
14'9" × 10'10"
Main Floor
Laundry
8'10" × 5'3"
Lower Level
Laundry
11'2" × 10'2"
Lower Level
Bedroom
11'6" × 10'2"
Lower Level
Bedroom
13'9" × 12'10"
Lower Level
Kitchen
13'9" × 9'10"
Lower Level
Bedroom
13'9" × 10'2"
Lower Level
Bedroom
13'9" × 10'2"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
0' x 0'
Main Floor
Yes
4
0' x 0'
Main Floor
Yes
4
0' x 0'
Lower Level
No
3
0' x 0'
Lower Level
No
3
0' x 0'
Title to Land:
Fee Simple
Community Features:
Golf, Park, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Kitchen Island, No Animal Home, No Smoking Home
Exterior Features:
Other
Patio And Porch Features:
Deck
Lot Features:
Low Maintenance Landscape, Landscaped, Level, Rectangular Lot, See Remarks
Num. of Parcels:
0
Fencing:
Partial
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-C1
Listed Date:
Aug 01, 2024
Days on Mkt:
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Listed by Top Producer Realty and Property Management
Data was last updated September 20, 2024 at 08:05 PM (UTC)
Area Statistics
Listings on market:
14
Avg list price:
$1,034,500
Min list price:
$199,900
Max list price:
$2,150,000
Avg days on market:
30
Min days on market:
1
Max days on market:
76
Avg price per sq.ft.:
$641.95
These statistics are generated based on the current listing's property type and located in Banff Trail. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706