406, 9221 Lakeland Drive

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

rent

$1,420/mo

after all costs

−$360/mo

cap rate

2.8%

yearly net rent ÷ price

Costs: mortgage $762 · tax $168 · strata $702 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 2-bedroom in Grande Prairie: CMHC's average there ($1,427) 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

• Asking price is 6% above the assessment

From City of Grande Prairie open data (property assessment), matched to #406 9221 Lakeland Drive. A mass appraisal of market value, not an appraisal of this home; a new build may be assessed before it was finished.

about $2,011 a year

The 2026 assessment times Grande Prairie's 2026 residential rate of 12.17 per $1,000 (municipal and education).

The listing shows $2,010 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.