2205, 38 Riedel Street

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$145,000

2205, 38 Riedel Street

Downtown, Fort McMurray · MLS® A2341955

221

908 sq ft · Condo · Single Family · built 2001 · 5 days on market

listed by SUZANNE ANDERSON, RE/MAX Connect

realtor's description

FANTASTIC 2 Bedroom, 2 bathroom condo in the heart of downtown! This beautiful unit is PERFECT for the savvy buyer with greenspace views! Recently renovated with newer laminate flooring. Central Air, newer stove, newer dishwasher included. Comes with underground parking and is within walking distance to the downtown shopping and all amenities. Call to view today

property details

type: Condo, Single Family
bedrooms: 2
bathrooms: 2
living area: 908 sq ft
parking: 1
year built: 2001
property tax: $562 / yr
strata fee: $652 / mo ($0.72 / sq ft)
strata rules: Pets Allowed With Restrictions
days on market: 5
MLS®: A2341955

features

Elevator
Pets Allowed With Restrictions
See remarks

property tax

about $760 a year

The asking price times Regional Municipality of Wood Buffalo's 2026 residential rate of 5.24 per $1,000 (municipal and education).

The listing shows $562 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

$1,331/mo

Mortgage $632 · Tax $47 · Strata $652

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

estimated payment

$632/ monthly

loan $116,000

25-year amortization

down payment20% · $29,00020%+ 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: $73,525
land title fees: $365; transfer + mortgage registration; Alberta has no transfer tax
cash to close: $29,365; down + land title fees
total paid: $189,525

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: $1,450/mo
after all costs: −$32/mo
cap rate: 5.0%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $632 · tax $47 · strata $652 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 2-bedroom in Wood Buffalo: CMHC's average there ($1,457) 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