202, 4904 54 Street

Downtown Red Deer, Red Deer · MLS® A2351585

311

994 sq ft · Condo · Single Family · built 1976 · 15 days on market

listed by Jamie Berg, Royal LePage Network Realty Corp.

realtor's description

CORNER UNIT APARTMENT IN DOWNTOWN RED DEER! 3 bedrooms and 1 full four piece bathroom. Galley style kitchen with lots of counter and cabinet space and a dining area. Huge family room allows for lots of space for a big cozy sectional and has patio doors which lead to the east exposed balcony. One of the three bedrooms is located off of the family room and can easily accommodate a king bed along with extra furniture. The opposite side of the unit offers two bedrooms, four piece bathroom, laundry and additional storage. Incredibly convenient location with access to the beautiful trail systems and all main amenities. This home is great for investors, students, and first time buyers.

property details

type: Condo, Single Family
bedrooms: 3
bathrooms: 1
living area: 994 sq ft
parking: 1
year built: 1976
property tax: $1,379 / yr
strata fee: $646 / mo ($0.65 / sq ft)
strata rules: Pets Allowed With Restrictions
days on market: 15
MLS®: A2351585

features

Closet Organizers
Pets Allowed With Restrictions
None

property tax

about $1,376 a year

The asking price times Red Deer's 2026 residential rate of 9.83 per $1,000 (municipal and education).

The listing shows $1,379 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.

monthly cost

$1,371/mo

Mortgage $610 · Tax $115 · Strata $646

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

estimated payment

$610/ monthly

loan $112,000

25-year amortization

down payment20% · $28,00020%+ 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: $70,990
land title fees: $355; transfer + mortgage registration; Alberta has no transfer tax
cash to close: $28,355; down + land title fees
total paid: $182,990

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: $1,740/mo
after all costs: $195/mo
cap rate: 6.9%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $610 · tax $115 · strata $646 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 3+ bedroom in Red Deer: CMHC's average there ($1,677) raised 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