#402 2624 Millwoods East Rd E NW

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$119,900

#402 2624 Millwoods East Rd E NW

Weinlos, Edmonton · MLS® E4489532

879 sq ft · Condo · Single Family · built 1981 · 155 days on market

listed by Sukhwinder Randhawa, Sterling Real Estate

realtor's description

Investor's lucky draw-Easy to rent-long term investment Top floor 2 bedroom ,1 bathroom and spacious living room-New floor and refresh paint in last 2-3 years.Prime location -easy access to all amenities including Transit,LRT,Shopping .parks.This property offers both immediate rental income and long-term potential.Well kept building with healthy reserve funds.Popular religious place Millwoods Gurudwara Sahib is next door.Perfect fit for a senior,student or professionals.1 assigned - power hook ups parking

property details

type: Condo, Single Family
bedrooms: 2
bathrooms: 1
living area: 879 sq ft
parking: 0
year built: 1981
strata fee: $510 / mo ($0.58 / sq ft)
days on market: 155
MLS®: E4489532

features

Refrigerator
Dishwasher
Stove
Hood Fan

property tax

about $1,243 a year

The asking price times Edmonton's 2026 residential rate of 10.36 per $1,000 (municipal and education).

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

$1,032/mo

Mortgage $522 · Strata $510

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

estimated payment

$522/ monthly

loan $95,920

25-year amortization

down payment20% · $23,98020%+ 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: $60,798
land title fees: $320; transfer + mortgage registration; Alberta has no transfer tax
cash to close: $24,300; down + land title fees
total paid: $156,718

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: $1,600/mo
after all costs: $405/mo
cap rate: 9.3%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $522 · strata $510 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 2-bedroom in Edmonton: CMHC's average there ($1,598) raised by what new tenants pay against everyone in the Edmonton area. (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