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312, 5135 Lakeshore Drive
homes for sale · Sylvan Lake · Downtown
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$199,900

312, 5135 Lakeshore Drive

Downtown, Sylvan Lake · MLS® A2330100

111

745 sq ft · Condo · Single Family · built 1992 · 99 days on market

listed by Kade Garritty, CIR Realty

realtor's description

Whether you're looking for your first home, an investment property, or an affordable place just steps from Sylvan Lake's waterfront, this Lakeshore Drive condo is worth a look. This one bedroom plus den apartment offers a functional layout with plenty of flexibility for a home office, guest room, or hobby space. Enjoy your morning coffee or unwind at the end of the day from one of two private balconies, giving you extra outdoor space to take advantage of the lake lifestyle. The assigned parking stall adds convenience, while the unbeatable location puts the beach, restaurants, shopping, and everything downtown Sylvan Lake has to offer just outside your door. Affordable opportunities in this location don't come along often. Whether you're looking to get into the market or expand your investment portfolio, this condo offers exceptional value in the heart of Sylvan Lake.

property details

type
Condo, Single Family
bedrooms
1
bathrooms
1
living area
745 sq ft
parking
1
year built
1992
property tax
$1,829 / yr
strata fee
$646 / mo ($0.87 / sq ft)
strata rules
Pets Allowed With Restrictions
days on market
99
MLS®
A2330100

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

features

listed by
Kade Garritty
CIR Realty
call Kade · 403-877-1663
Powered by: REALTOR.ca
▶ virtual tour

similar homes nearby

  • Lake Privileges
  • Pets Allowed With Restrictions
  • See remarks

monthly cost

$1,670/mo
Mortgage $871 · Tax $152 · Strata $646

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

estimated payment
$871/ monthly
loan $159,920
25-year amortization
total interest
$101,364
land title fees
$460
transfer + mortgage registration; Alberta has no transfer tax
cash to close
$40,440
down + land title fees
total paid
$261,284

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
$1,350/mo
after all costs
−$463/mo
cap rate
2.4%
yearly net rent ÷ price

Costs: mortgage $871 · tax $152 · strata $646 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 1-bedroom in Sylvan Lake: CMHC's average there ($1,355) 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 $1,999 a year

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

The listing shows $1,829 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
  • Steffie Woima Elementary4 min
  • Red Deer Polytechnic25 min
  • Downtown Red Deer26 min
  • Red Deer Regional Hospital Centre27 min
73

Walkability 73/100 · Walkable: many errands on foot

Within a 10 minute walk: 17 places to eat or drink, 2 cafes, 4 parks and playgrounds, 1 pharmacy.

mihom score from OpenStreetMap places, by straight line distance.

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