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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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233 & 237, 225 & 229 Creekside Drive SW
C-168 Calgary T0L 0X0

$2,740,000
Multi-Family 6,432 sq. ft. built: 2022

Main Photo: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 1: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 2: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 3: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 4: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 5: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 6: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 7: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 8: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 9: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 10: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 11: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 12: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 13: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 14: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 15: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 16: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 17: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 18: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 19: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 20: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 21: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 22: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 23: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 24: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 25: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 26: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 27: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 28: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Photo 29: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
Status:
Active
Prop. Type:
Multi-Family
MLS® Num:
A2162238
Year Built:
2022
Exceptionally rare opportunity to purchase 2 consecutive duplexes totaling 8 units built in 2022. These two turnkey duplexes with legal suites in each offer monthly cashflow and a CAP rate of over 5.6%! They are also positioned to utilize the CMHC commercial lending opportunities currently available. Upper units come fully self contained with 3 bedrooms, 2.5 bathrooms, full laundry, family room and an additional bonus room. Gourmet kitchens offer ceiling height soft close cabinetry, stone countertops and gas ranges. Off the kitchen you will find a large dining room and half bath and mudroom. Full sized laundry located on the top floors along with large primary bedroom with coffer ceiling, large walk-in closets and beautiful ensuites. Additional 2 bedrooms, full bathroom and large bonus room completed the functional upper levels. Lower level units offer 1 bedroom legal basement suites with 9 foot ceilings, oversized windows and the same upgraded finishes throughout. Each side of these 2 duplex's comes with their own 2 car detached garages. Located in the new SW community of Creekstone in Pine Creek. This is a very unique opportunity to own turnkey, 2 year old properties fully tenanted and professionally managed in a growing new community!
Property Type:
Multi-Family
Property Sub Type:
Full Duplex
Transaction Type:
For Sale
Possession:
Possession Date:
Home Style:
2 Storey, Side by Side
Total Living Area:
6,432 sq. ft.
Main Level Finished Area:
1,614 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
2,904 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
2,443 sq. ft.
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:
2022 (Age: 2)
Bathrooms:
- (Full:-, Half:-)
Plan:
2310269
Heating:
Baseboard, Sep. HVAC Units, Electric, Forced Air, Natural Gas
Basement:
Separate/Exterior Entry, Finished, Full, Suite
Foundation:
Poured Concrete
Structure Type:
Duplex
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Tile, Vinyl Plank
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
4
Parking:
Alley Access, Double Garage Detached
Parking Places:
8.0
Parking Total/Covered:
8 / -
Pine Creek
Upper Units (8)- Gas Range, Dishwasher, Refrigerator, Washer, Dryer, Microwave hood fan. Lower Units (8)- Electric Range, Dishwasher, Refrigerator, Washer, Dryer, Microwave Hood Fan.
None Known
Title to Land:
Fee Simple
Interior Features:
Closet Organizers, High Ceilings, Kitchen Island, Pantry, Quartz Counters, Separate Entrance, Stone Counters, Vinyl Windows, Walk-In Closet(s)
Exterior Features:
Private Entrance
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone S
Zoning:
R-G
Listed Date:
Sep 05, 2024
Days on Mkt:
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  • Photo 21: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
    Basement Suites
  • Photo 22: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
    Basement Suites
  • Photo 23: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
    Basement Suites - 2 of the kitchens do not have the window
  • Photo 24: 233 & 237, 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2162238
    Basement Suites
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    Basement Suites
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    Basement Suites
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    Basement Suites
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Listed by Real Broker
Data was last updated September 20, 2024 at 06:05 PM (UTC)
Area Statistics
Listings on market:
24
Avg list price:
$1,298,500
Min list price:
$750,000
Max list price:
$4,199,999
Avg days on market:
51
Min days on market:
4
Max days on market:
240
Avg price per sq.ft.:
$594.83
These statistics are generated based on the current listing's property type and located in Calgary. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706