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$545,000

234 7156 121 STREET STREET

Surrey · MLS® R3157099

2 bed · 2 bath · 1,473 sq ft · 1 parking

Townhouse · Single Family · built 1988 · 51 days on market

Listed by Leanne Kler, RE/MAX Performance Realty

Realtor's description

Welcome to Glenwood Village, a 55+ community in a fantastic central location close to shopping, restaurants, transit and major commuter routes. This spacious, south-facing 1,473 sq.ft. 2-bedroom home offers numerous updates, including newer laminate flooring, marble tile and a renovated primary ensuite. The refreshed kitchen features quartz countertops and newer appliances, while an efficient Navien hot water-on-demand system replaces the original boiler and creates valuable additional pantry/storage space. Enjoy a modern gas fireplace, two decks, extra storage outside the front door, one covered parking space with ample guest parking. Amenities include a guest suite, RV parking and clubhouse with workshop.

Property details

Type: Townhouse, Single Family
Bedrooms: 2
Bathrooms: 2
Living area: 1,473 sq ft
Parking: 1
Year built: 1988
Property tax: $2,513 / yr
Strata fee: $396 / mo ($0.27 / sq ft)
Strata rules: Pets Allowed With Restrictions, Age Restrictions
Days on market: 51
MLS®: R3157099

Buying in a building from 1982 to 2000: what to read first

Features

Pets Allowed With Restrictions
Age Restrictions
Washer
Refrigerator
Dishwasher
Stove

Price check

Below typical for the area (-26%)

2026 assessment: $559,000 · asking is -2.5%
Price per sq ft: $370 vs $503 median for townhouses in Surrey for sale (867)

An estimate from public BC Assessment records, registered sales and the listings for sale right now, not an appraisal. Condition, renovations, views and lot all move real value.

Property insights

On market 51 days · no price changes so far

The market here

Listed now: 51 days; median for 881 townhouses for sale; this one 51 days

Townhouses in Surrey. Sale prices register 1 to 3 months after a sale closes.

Property tax by year

Year	Assessed	Est. tax
2026	$559,000	$1,916

The listing shows $2,513 a year in property tax.

Estimate: the BC Assessment value times Surrey's residential tax rate for that year (Province of BC, local government statistics). Leaves out the home owner grant, parcel taxes and utility charges; the city's tax notice is the real figure.

Monthly cost

$2,980/mo

Mortgage $2,375 · Tax $209 · Strata $396

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

estimated payment

$2,375/ monthly

loan $436,000

25-year amortization

down payment20% · $109,00020%+ down: no mortgage insuranceinterest rate4.34%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 9, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $276,354
property transfer tax: $8,900; BC general rate
cash to close: $117,900; down + PTT
total paid: $712,354

Estimates only. Rates change daily and lenders qualify at the stress-test rate; first-time-buyer and newly-built PTT exemptions aren't applied. Talk to a mortgage broker before you offer.

If you rented it out

Rent: $1,872/mo
After all costs: −$1,433/mo
Cap rate: 2.1%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $2,375 · tax $209 · strata $396 · insurance ~$175 · vacancy 3% · upkeep 5%.

Rent starts at CMHC's average for a 2-bedroom in Surrey (CMHC Rental Market Survey, October 2025). Averages include long-time tenants, so new leases usually ask more; 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
Selling within two years of buying can trigger the BC home flipping tax. gov.bc.ca

Location

The building's lot: 24,574 m² (264,512 sq ft) · PID 010-907-262. From ParcelMap BC; property lines are approximate, a survey is the legal boundary.

SurreyGoogle Maps ↗

Location

SurreyGoogle Maps ↗

Schools

Catchment schools, Surrey School District 36

Elementary Cougar Creek Elementaryhomes in this catchment
400 m away · 12236 70a Ave, Surrey · 604-591-9098
Secondary Tamanawis Secondaryhomes in this catchment
1.6 km away · 12600 66 Ave, Surrey · 604-597-5234

From the Surrey School District 36'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.

Development nearby

Development permit for a 6 storey, 53 unit building
380 m away · 2022 · under review
Development Permit for Sensitive Ecosystems and to permit the construction of a six-storey mixed use building with 53 residential units and 4731 sq.m. ground floor commercial retail units.
Development permit for a 3 storey building
330 m away · 2022 · under review
Development Permit for Sensitive Ecosystems and to permit the construction of a mixed use building with commercial retail units at ground floor and three storey office above (2103 sq. m.).
Rezoning
290 m away · 2024 · concluded
Rezoning from Urban Residential Zone (R3) to Comprehensive Development Zone (CD) (based on Child Care Zone (CCR) to allow a child care centre for up to 25 children within an existing single family dwelling.
Rezoning
360 m away · 2024 · conditionally approved
Rezoning property from Urban Residential Zone (R3) to Comprehensive Development Zone (CD) (based on Child Care Zone (CCR) to permit a childcare with up to 24 children within a single-family dwelling.

Applications filed with the city, active or decided in the last 3 years, measured from the listing's map pin. An application isn't an approval; the city's page has the current details. Source: City of Surrey development applications.

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