407 Terrace Park

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$249,900

407 Terrace Park

Eastview, Red Deer · MLS® A2351088

322

1,151 sq ft · 2,640 sq ft lot · Townhouse · Single Family · built 1962 · 15 days on market

listed by Andrea Warkentin, Century 21 Maximum

realtor's description

Welcome home to your new family's next chapter! This move-in ready, freshly painted, carpet-free 3 bedroom townhouse is ready and waiting for you, and there are no condo fees!Sunshine fills the main floor. The large living room has an east-facing window for bright, cheerful mornings. The west-facing kitchen and dining room are a lovely spot for family dinners. Upstairs you'll find three good-sized bedrooms and a 4-piece bathroom.The basement adds even more living space. It has a convenient half bath with a laundry room, a rec room, and a furnace room area. It's mostly finished, so you get to choose the flooring and make it your own.Out back, the fenced yard has a covered patio for summer evenings and a shed with electricity for projects and storage. You're close to schools and shopping, and on a bus route.

property details

type: Townhouse, Single Family
bedrooms: 3
bathrooms: 2
living area: 1,151 sq ft
lot: 2,640 sq ft
parking: 2
year built: 1962
property tax: $1,670 / yr
days on market: 15
MLS®: A2351088

features

Back lane
Washer
Refrigerator
Stove
Dryer

property tax

about $2,456 a year

The asking price times Red Deer's 2026 residential rate of 9.83 per $1,000 (municipal and education).

The listing shows $1,670 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.

monthly cost

$1,228/mo

Mortgage $1,089 · Tax $139

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

estimated payment

$1,089/ monthly

loan $199,920

25-year amortization

down payment20% · $49,98020%+ 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: $126,717
land title fees: $550; transfer + mortgage registration; Alberta has no transfer tax
cash to close: $50,530; down + land title fees
total paid: $326,637

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: $1,740/mo
after all costs: $198/mo
cap rate: 6.2%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $1,089 · tax $139 · insurance ~$175 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 3+ bedroom in Red Deer: CMHC's average there ($1,677) raised 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