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306, 5435 Lakeshore Drive
homes for sale · Sylvan Lake · Downtown
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$319,900

306, 5435 Lakeshore Drive

Downtown, Sylvan Lake · MLS® A2333814

221

1,251 sq ft · Condo · Single Family · built 1995 · 85 days on market

listed by Blair Morris, Royal LePage Network Realty Corp.

realtor's description

EXCEPTIONAL 1251SQFT, 2BED/2BATH TOP FLOOR CONDO WITH LOFT AND UNDERGROUND PARKING, CLOSE TO THE LAKE! Step inside this perfect condo with a beautiful entrance into impressive open design, vaulted ceilings on the main floor with loads of natural light. The kitchen boasts tons of cabinets and counter tops, tiled backsplash, all appliances...overlooking a beautiful living room with corner gas fireplace with wood mantle and stone facing. 2 bedrooms including master bedroom with walk through closet and full ensuite bathroom. Large second bedroom, 4 piece bathroom, and laundry are all on the main level. Head upstairs and enjoy the large loft with a stunning wall of custom cabinetry. Underground heated parking and secure storage for this unit, along with a workshop. Enjoy the top level deck/balcony with a lake view. Perfect location, close to all amenities and a short walk to the beach/lake/golf course. Easy access to both highways. Beautiful condo in a perfect location!

property details

type
Condo, Single Family
bedrooms
2
bathrooms
2
living area
1,251 sq ft
parking
1
year built
1995
property tax
$3,219 / yr
strata fee
$618 / mo ($0.49 / sq ft)
strata rules
Pets not Allowed
days on market
85
MLS®
A2333814

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

listed by
Blair Morris
Royal LePage Network Realty Corp.
call Blair · 403-505-6625
Powered by: REALTOR.ca
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similar homes nearby

features

  • Golf Course Development
  • Pets not Allowed
  • Lake Privileges
  • Refrigerator
  • Dishwasher
  • Stove

monthly cost

$2,280/mo
Mortgage $1,394 · Tax $268 · Strata $618

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

estimated payment
$1,394/ monthly
loan $255,920
25-year amortization
total interest
$162,212
land title fees
$680
transfer + mortgage registration; Alberta has no transfer tax
cash to close
$64,660
down + land title fees
total paid
$418,132

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
$1,460/mo
after all costs
−$972/mo
cap rate
1.6%
yearly net rent ÷ price

Costs: mortgage $1,394 · tax $268 · strata $618 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 2-bedroom in Sylvan Lake: CMHC's average there ($1,467) 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

Keep private notes and ratings on homes you're considering. (email only) and they follow you to every device.

location

Downtown, Sylvan LakeGoogle Maps ↗

property tax

about $3,199 a year

The asking price times Sylvan Lake's 2026 residential rate of 10.00 per $1,000 (municipal and education).

The listing shows $3,219 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.

location

Downtown, Sylvan LakeGoogle Maps ↗
Drive times
  • École Mother Teresa4 min
  • Red Deer Polytechnic26 min
  • Downtown Red Deer27 min
  • Red Deer Regional Hospital Centre28 min
53

Walkability 53/100 · Somewhat walkable: some errands on foot

Within a 10 minute walk: 2 places to eat or drink, 4 parks and playgrounds.

mihom score from OpenStreetMap places, by straight line distance.

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