2, 218 Mayor Magrath Drive N

Westminster, Lethbridge · MLS® A2333808

111

589 sq ft · Condo · Single Family · built 1969 · 71 days on market

listed by CHUCK GULYAS, RE/MAX REAL ESTATE - LETHBRIDGE

realtor's description

#2, 218 Mayor Magrath Drive, N. Affordable, low-maintenance senior living or an excellent investment opportunity! This well-maintained 1-bedroom condo offers a bright and spacious bedroom, a functional layout, and a private balcony—perfect for enjoying your morning coffee or unwinding at the end of the day. The unit also includes an on-site storage room, convenient off-street parking, and access to shared in-building laundry facilities, making everyday living both comfortable and practical. Ideally situated with quick access to Mayor Magrath Drive, major transportation routes, shopping, restaurants, and other everyday amenities, this condo offers outstanding convenience for homeowners and tenants alike. The professionally managed building is well established and provides peace of mind for owners and investors. With strong rental demand in the area and affordable ownership costs, this is an excellent opportunity for first-time buyers looking to enter the market or investors seeking a dependable addition to their portfolio.

property details

type: Condo, Single Family
bedrooms: 1
bathrooms: 1
living area: 589 sq ft
parking: 1
year built: 1969
property tax: $1,228 / yr
strata fee: $410 / mo ($0.70 / sq ft)
strata rules: Pets Allowed With Restrictions
days on market: 71
MLS®: A2333808

features

See remarks
PVC window
No Smoking Home
Pets Allowed With Restrictions
See remarks

monthly cost

$1,035/mo

Mortgage $522 · Tax $102 · Strata $410

20% down at 4.34% fixed (Ratehub.ca), 25 years; tax from the listing; strata fee from the listing.

estimated payment

$522/ monthly

loan $95,920

25-year amortization

down payment20% · $23,98020%+ down: no mortgage insuranceinterest rate4.34%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 25, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $60,798
land title fees: $320; transfer + mortgage registration; Alberta has no transfer tax
cash to close: $24,300; down + land title fees
total paid: $156,718

Estimates only. Rates change daily and lenders qualify at the stress-test rate. Talk to a mortgage broker before you offer.

if you rented it out

rent: $1,360/mo
after all costs: $181/mo
cap rate: 7.0%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $522 · tax $102 · strata $410 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 1-bedroom in Lethbridge: CMHC's average there ($1,370) lowered by what new tenants pay against everyone in the province (Alberta centres of 10,000+). (CMHC Rental Market Survey, October 2025; CMHC Rental Market Report 2025, table 6.0 (rents on units that turned over to a new tenant).) Houses usually rent for more than apartments. 25-year mortgage; rental purchases need at least 20% down.

Alberta has no cap on how much rent can rise, but only one increase a year, with three months' written notice for a monthly tenancy. alberta.ca