46521 ELLIOTT AVENUE, Fairfield Island

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$999,000

46521 ELLIOTT AVENUE, Fairfield Island

Fairfield, Chilliwack · MLS® R3148101

2,198 sq ft · 8,500 sq ft lot · House · Single Family · built 1975 · 95 days on market

listed by Harpal Uppal, LPT Realty ULC

realtor's description

Beautifully updated Fairfield Island home featuring 3 bedrooms up and a self-contained 1-bedroom in-law suite below with separate laundry and potential for a second bedroom. The bright main floor offers a spacious kitchen with eating area, vaulted-ceiling living room with fireplace, and a primary bedroom with ensuite. Enjoy the covered deck overlooking the large backyard, plus a workshop/storage area below. Additional features include a 3-year-old roof, newer high-efficiency furnace, two separate garages, and ample parking for an RV, boat, and more with convenient backyard access. Subdivision potential"-buyers to verify with the City of Chilliwack. A fantastic family home with excellent investment potential!

property details

type: House, Single Family
bedrooms: 4
bathrooms: 3
living area: 2,198 sq ft
lot: 8,500 sq ft
parking: 0
year built: 1975
property tax: $4,180 / yr
days on market: 95
MLS®: R3148101

features

Washer
Refrigerator
Dishwasher
Stove
Dryer

the market here

listed now: 57 days; median for 526 houses for sale; this one 95 days

Houses in Chilliwack. Sale prices register 1 to 3 months after a sale closes.

monthly cost

$4,701/mo

Mortgage $4,353 · Tax $348

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

estimated payment

$4,353/ monthly

loan $799,200

25-year amortization

down payment20% · $199,80020%+ down: no mortgage insuranceinterest rate4.34%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 27, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $506,564
property transfer tax: $17,980; BC general rate
cash to close: $217,780; down + PTT
total paid: $1,305,764

first-time buyernewly builtforeign national

Estimates only. Rates change daily and lenders qualify at the stress-test rate. Talk to a mortgage broker before you offer. Transfer tax: 1% to $200k, 2% to $2M, 3% to $3M, 5% above. First-time buyers pay nothing on the first $500k for homes up to $835k (phasing out by $860k); newly built homes are exempt up to $1.1M (phasing out by $1.15M). Both need Canadian citizenship or permanent residence and other conditions; the 20% foreign buyer tax applies in Metro Vancouver, the Fraser Valley, the Capital Region, Central Okanagan and Nanaimo.

if you rented it out

suite rent: $1,400/mo
your cost after the suite: $3,588/mo; vs $4,876 without it

Suite rent / moDown payment %Rate %

Costs: mortgage $4,353 · tax $348 · insurance ~$175 · vacancy 3% · upkeep 5%.

Suite rent is today's market rent for a 1-bedroom in Chilliwack: CMHC's average there ($1,222) raised by what new tenants pay against everyone in the Chilliwack area, then down 2.4% with Chilliwack's asking rents, 2025 Q4 → 2026 Q2. (CMHC Rental Market Survey, October 2025; CMHC Rental Market Report 2025, table 6.0 (rents on units that turned over to a new tenant); trend: Statistics Canada.) 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