207 550 E 7th Avenue

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$499,000

207 550 E 7th Avenue

Vancouver · MLS® R3177895

111

685 sq ft · Condo · Single Family · built 1976 · 2 days on market

listed by Andy Wong, RA Realty Alliance Inc.

Open house · Sunday, October 25, 2:30pm–4pm

realtor's description

Ideal Mount Pleasant location, steps to elementary school, transportation, shops & restaurants. Spacious 685 sq.ft., one bedroom unit is freshly painted, has corian counters, cork flooring, new light fixtures, newer appliances, new s/s kitchen backsplash, etc. New windows and patio door installed by pro-active strata. Shared laundry on every floor and in-suite laundry allowed by strata. Includes one parking space and one storage locker. Relax on your south facing balcony. Pet friendly. Ready to move in! Viewing by appointment . First Open house Sunday ( Oct. 25 ) 2:30- 4 PM

property details

type: Condo, Single Family
bedrooms: 1
bathrooms: 1
living area: 685 sq ft
parking: 1
year built: 1976
property tax: $1,931 / yr
strata fee: $477 / mo ($0.70 / sq ft)
strata rules: Pets Allowed With Restrictions, Rentals Allowed With Restrictions
days on market: 2
MLS®: R3177895

features

Central location
Elevator
Wheelchair access
Pets Allowed With Restrictions
Rentals Allowed With Restrictions

floor plans

found among the listing photos.

monthly cost

$2,812/mo

Mortgage $2,174 · Tax $161 · Strata $477

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

estimated payment

$2,174/ monthly

loan $399,200

25-year amortization

down payment20% · $99,80020%+ 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: $253,029
property transfer tax: $7,980; BC general rate
cash to close: $107,780; down + PTT
total paid: $652,229

first-time buyernewly builtforeign national

Estimates only. Rates change daily and lenders qualify at the stress-test rate. Talk to a mortgage broker before you offer. Transfer tax: 1% to $200k, 2% to $2M, 3% to $3M, 5% above. First-time buyers pay nothing on the first $500k for homes up to $835k (phasing out by $860k); newly built homes are exempt up to $1.1M (phasing out by $1.15M). Both need Canadian citizenship or permanent residence and other conditions; the 20% foreign buyer tax applies in Metro Vancouver, the Fraser Valley, the Capital Region, Central Okanagan and Nanaimo.

if you rented it out

rent: $1,960/mo
after all costs: −$1,044/mo
cap rate: 2.7%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $2,174 · tax $161 · strata $477 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 1-bedroom in Mount Pleasant/Renfrew Heights, Vancouver: CMHC's average there ($1,704) raised by what new tenants pay against everyone in the Vancouver area, then down 1.5% with Vancouver's asking rents, 2025 Q4 → 2026 Q2. (CMHC Rental Market Survey, October 2025; CMHC Rental Market Report 2025, table 6.0 (rents on units that turned over to a new tenant); trend: Statistics Canada.) Houses usually rent for more than apartments. 25-year mortgage; rental purchases need at least 20% down.

BC rules for landlords

Short-term rentals are limited to the host's principal residence in most communities. gov.bc.ca
Rent increases are capped once a year at the province's set amount. gov.bc.ca
The speculation and vacancy tax applies in many areas to homes not lived in or rented out. gov.bc.ca
Vancouver also charges an empty homes tax. vancouver.ca
Selling within two years of buying can trigger the BC home flipping tax. gov.bc.ca

location

VancouverGoogle Maps ↗

Rapid transit: VCC–Clark SkyTrain station, 900 m (about 15 min walk); Main Street–Science World SkyTrain station, 1.2 km (about 18 min walk).

schools

Catchment schools, Vancouver School Board

Elementary Mount Pleasant Elementaryhomes in this catchment
200 m away · 2300 Guelph St, Vancouver · 604-713-4617
Secondary Vancouver Technical Secondaryhomes in this catchment
3.0 km away · 2600 Broadway E, Vancouver · 604-713-8215

From the Vancouver School Board's published catchment maps. A catchment gives priority, not a guaranteed seat, and French immersion and choice programs work differently. The district confirms catchment: check with its school locator.

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