Forest Lawn, Calgary · MLS® A2321172
523
976 sq ft · 557 m² lot · House · Single Family · built 1961 · 125 days on market
listed by Hui Zhao, TREC The Real Estate Company
Looking for a RARE INVESTMENT OPPORTUNITY WITH A LEGAL BASEMENT SUITE? Look no further! This well-kept bungalow is a total money-maker, perfect for investors or anyone wanting a huge mortgage helper. The main floor is already a super successful Airbnb that brings in top dollar, while the fully legal basement suite is currently rented out for steady, reliable cash flow month after month. Sitting on a massive 5900 sq. ft. R-CG zoned lot, this property lets you collect two rent checks today, while sitting on a goldmine for future development tomorrow. Whether you want to buy and hold or enjoy instant cash flow, this is the one! This detached home features 5 bedrooms and two 4-piece bathrooms. The downstairs cabinetry and upstairs living room floors were newly updated in November 2025. Unbeatable location with exceptional accessibility! Walking distance or a short drive to local schools, parks, shopping, and transit. Features seamless access to major corridors including International Avenue (17 Ave SE), Deerfoot Trail, and Stoney Trail
20% down at 4.34% fixed (Ratehub.ca), 25 years; tax from the listing.
Nearest public (CBE) and Catholic schools, by distance
The nearest school isn't always the designated one, and Calgary's boards don't publish their boundaries as open data. Check this address with the CBE school finder or Calgary Catholic's. School locations: City of Calgary open data.
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Rapid transit: Franklin CTrain station, 2 km (about 32 min walk); Marlborough CTrain station, 2.3 km (about 35 min walk).
$491,000
2026 assessment · market value as of July 1, 2025
| roll year | assessed |
|---|---|
| 2026 | $491,000 |
| 2025 | $492,000 |
| 2024 | $410,000 |
| 2023 | $370,000 |
| 2022 | $325,000 |
| 2021 | $292,000 |
| 2020 | $302,500 |
| 2019 | $309,500 |
From City of Calgary open data (property assessments), matched to 1527 46 ST SE. A mass appraisal of market value, not an appraisal of this home; a new build may be assessed before it was finished.
about $3,265 a year
The 2026 assessment times Calgary's 2026 residential rate of 6.65 per $1,000 (municipal and education).
The listing shows $3,265 a year in property tax.
Estimate from Alberta Municipal Affairs mill rates. Leaves out local improvement levies and utilities; the municipality's tax notice is the real figure.
Rapid transit: Franklin CTrain station, 2 km (about 32 min walk); Marlborough CTrain station, 2.3 km (about 35 min walk).
Walkability 94/100 · Very walkable: most errands on foot
Within a 10 minute walk: 5 grocery stores, 21 places to eat or drink, 1 cafe, 9 parks and playgrounds, 4 schools, 1 pharmacy, 32 transit stops.
mihom score from OpenStreetMap places, by straight line distance.