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$505,000

311 12148 224 STREET

Maple Ridge · MLS® R3167816

All units at 12148 224 St →

2 bed · 2 bath · 1,179 sq ft · 1 parking

Condo · Single Family · built 1999 · 18 days on market

Listed by Kevin Yu, Sutton Premier Realty

Realtor's description

Welcome to Panorama, a sought-after 55+ concrete building offering comfort, security, and an exceptional community lifestyle. This bright and well-maintained 2-bedroom, 2-bathroom home features a spacious layout, cozy gas fireplace, in-suite storage, and a private screened solarium perfect for year-round enjoyment. Enjoy peaceful surroundings in a well-managed strata and a move-in ready home. Connected directly to the Seniors Centre, residents can access an impressive range of amenities for just $35 annually, including a hair salon, billiards, craft room, workshop, cafeteria, wellness programs, social lounges, and more. A rare opportunity to enjoy independent living with outstanding convenience and community right at your doorstep.

Property details

Type: Condo, Single Family
Bedrooms: 2
Bathrooms: 2
Living area: 1,179 sq ft
Parking: 1
Year built: 1999
Property tax: $2,982 / yr
Strata fee: $445 / mo ($0.38 / sq ft)
Strata rules: Adult Oriented
Days on market: 18
MLS®: R3167816

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

Features

Central location
Elevator
Adult Oriented
All

Price check

Below typical for the area (-24%)

2026 assessment: $530,000 · asking is -4.7%
Price per sq ft: $428 vs $565 median for condos in Maple Ridge for sale (153)

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 18 days · no price changes so far

The market here

Listed now: 46 days; median for 161 condos for sale; this one 18 days

Condos in Maple Ridge. Sale prices register 1 to 3 months after a sale closes.

Property tax by year

Year	Assessed	Est. tax
2026	$530,000	$2,404
2025	$541,000	$2,267

Estimated tax up 6.0% from 2025 to 2026.

The listing shows $2,982 a year in property tax.

Estimate: the BC Assessment value times Maple Ridge'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

$2,894/mo

Mortgage $2,200 · Tax $249 · Strata $445

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

estimated payment

$2,200/ monthly

loan $404,000

25-year amortization

down payment20% · $101,00020%+ 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: $256,071
property transfer tax: $8,100; BC general rate
cash to close: $109,100; down + PTT
total paid: $660,071

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: $1,653/mo
After all costs: −$1,408/mo
Cap rate: 1.9%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $2,200 · tax $249 · strata $445 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent starts at CMHC's average for a 2-bedroom in Maple Ridge (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