Johnstone Park, Red Deer · MLS® A2353397
211
724 sq ft · Condo · Single Family · built 2003 · 5 days on market
listed by Roland Gjelaj, eXp Realty
Welcome to this bright and inviting 2-bedroom, 1-bathroom end-unit condo, offering a fantastic opportunity for investors looking to expand their portfolio! Featuring a functional and open-concept layout, this unit benefits from an abundance of natural light thanks to its desirable end-unit positioning. The spacious living area flows seamlessly into the kitchen, complete with white cabinetry and a clean, modern feel. Laminate flooring throughout adds to the appeal, while a dedicated laundry room provides additional convenience and storage. Step outside onto your private balcony, the perfect spot to relax and enjoy some fresh air. This unit also includes an assigned surface parking stall and the added convenience of condo fees that cover several major utilities, helping keep monthly expenses predictable. Small pets are permitted with board approval. Currently tenant-occupied with a lease in place until May 2027, this property offers investors the opportunity to purchase an established rental with an existing tenancy already in place. Whether you're looking to add to your investment portfolio or explore a future place to call home, this well-appointed condo is certainly worth a look!
20% down at 4.34% fixed (Ratehub.ca), 25 years; tax from the listing; strata fee from the listing.
Costs: mortgage $784 · tax $119 · strata $387 · insurance ~$35 · vacancy 3% · upkeep 5%.
Rent is today's market rent for a 2-bedroom in Red Deer: CMHC's average there ($1,418) raised by what new tenants pay against everyone in the Red Deer area. (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
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about $1,768 a year
The asking price times Red Deer's 2026 residential rate of 9.83 per $1,000 (municipal and education).
The listing shows $1,430 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. Without the city's assessment this uses the asking price, so it's a rough guide.
Walkability 36/100 · Mostly by car
Within a 10 minute walk: 6 parks and playgrounds, 8 transit stops.
mihom score from OpenStreetMap places, by straight line distance.