#201 911 10 ST

Cold Lake North, Cold Lake · MLS® E4503279

750 sq ft · Condo · Single Family · built 1978 · 74 days on market

listed by Shelley Brooks, RE/MAX Prairie Realty

realtor's description

Investor Alert! Turnkey revenue property with a tenant in place on a 1-year lease, providing immediate rental income. Located in desirable Lakeview Condominiums, just two blocks from the beach, marina, shopping, and public transit, this updated 2-bedroom, 1-bath second-floor unit offers excellent appeal for both current and future tenants. The condo has been completely renovated with new flooring throughout, a modern kitchen, updated bathroom featuring a new vanity, toilet, and flooring, creating a fresh, low-maintenance interior. A large in-suite storage room adds valuable convenience. Professionally managed, Lakeview Condominiums offers worry-free ownership, while the condo fees include heat, water, and sewer, helping keep operating costs predictable. An excellent opportunity to add a well-maintained, income-producing property to your investment portfolio in a sought-after location.

property details

type: Condo, Single Family
bedrooms: 2
bathrooms: 1
living area: 750 sq ft
parking: 0
year built: 1978
strata fee: $379 / mo ($0.51 / sq ft)
days on market: 74
MLS®: E4503279

features

Closet Organizers
No Animal Home
Refrigerator
Stove

property tax

about $1,303 a year

The asking price times Cold Lake's 2026 residential rate of 11.34 per $1,000 (municipal and education).

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.

monthly cost

$880/mo

Mortgage $501 · Strata $379

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

estimated payment

$501/ monthly

loan $91,920

25-year amortization

down payment20% · $22,98020%+ 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: $58,262
land title fees: $310; transfer + mortgage registration; Alberta has no transfer tax
cash to close: $23,290; down + land title fees
total paid: $150,182

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: $1,320/mo
after all costs: $300/mo
cap rate: 8.4%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $501 · strata $379 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 2-bedroom in Cold Lake: CMHC's average there ($1,328) 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