#213 71 Festival Wy

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$379,026

#213 71 Festival Wy

Centre In The Park, Sherwood Park · MLS® E4497891

820 sq ft · Condo · Single Family · built 2019 · 107 days on market

listed by Gurpreet Parmar, Spalk Real Estate

realtor's description

Discover Savona by Salvi, a premier luxury residence nestled in the heart of Sherwood Park. Developed by the award-winning Salvi Homes, this unit showcases the builder's reputation for outstanding craftsmanship and uncompromising quality. Inside, you'll find thoughtfully selected finishes, including custom cabinetry, quartz countertops, and hardwood flooring. Residents have access to exceptional amenities, such as a fully equipped fitness centre, a welcoming residents' lounge, and an on-site car wash. With shops, restaurants, parks, and entertainment all within walking distance, Savona offers an unparalleled lifestyle in a vibrant community.

property details

type: Condo, Single Family
bedrooms: 2
bathrooms: 2
living area: 820 sq ft
parking: 0
year built: 2019
strata fee: $404 / mo ($0.49 / sq ft)
days on market: 107
MLS®: E4497891

features

Park/reserve
Public Swimming Pool
Washer
Refrigerator
Dishwasher
Stove

city assessment

$312,000

2026 assessment · market value as of July 1, 2025

Up 0.6% from $310,000 in 2025
Asking price is 21% above the assessment
Floor area on the roll 893 sq ft

From Strathcona County open data (property tax assessment), matched to 213, 71 FESTIVAL WY. A mass appraisal of market value, not an appraisal of this home; a new build may be assessed before it was finished.

property tax

about $2,270 a year

The 2026 assessment times Strathcona County's 2026 residential rate of 7.28 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.

monthly cost

$2,056/mo

Mortgage $1,651 · Strata $404

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

estimated payment

$1,651/ monthly

loan $303,221

25-year amortization

down payment20% · $75,80520%+ 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: $192,193
land title fees: $785; transfer + mortgage registration; Alberta has no transfer tax
cash to close: $76,590; down + land title fees
total paid: $495,414

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: $1,600/mo
after all costs: −$619/mo
cap rate: 3.3%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $1,651 · strata $404 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 2-bedroom in Edmonton: CMHC's average there ($1,598) raised by what new tenants pay against everyone in the Edmonton 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