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501 & 502, 401 4 Street
homes for sale · Rural Cypress County · Elkwater
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$169,000

501 & 502, 401 4 Street

Elkwater, Rural Cypress County · MLS® A2351682

22

1,041 sq ft · Condo · Single Family · built 2006 · 14 days on market

listed by Cyrstal Hancock, Real Estate Centre

realtor's description

Some Places Are Worth Visiting. Elkwater Is Worth Owning! Imagine waking up in the Cypress Hills with no particular plans and an entire day to enjoy them! Coffee in the morning sunshine, a walk through the trees, perhaps an afternoon on the lake or a round of golf. Maybe you'll spend the whole day exploring, or maybe you'll find a comfortable spot and decide the view is entertainment enough. That's the beauty of Elkwater. There's plenty to do, and absolutely no reason to rush! Located at Elkwater Lake Lodge, units 501 and 502 are being sold together, offering a unique opportunity to own two adjoining suites that can be enjoyed independently or combined through an interior connecting door. The main suite features a full kitchen, dining area, living room with fireplace, a separate bedroom, and a spacious bathroom with a soaker tub and shower. The adjoining studio suite provides additional sleeping space, a sink, bar fridge, microwave, and its own bathroom with shower. Step outside to the lodge's treed grounds and enjoy the fresh air and beautiful natural surroundings. With an indoor swimming pool and on-site dining, there are even a few reasons to spend the day right at the lodge! And there's no need to pack away the fun when summer ends. Autumn brings colourful trails and crisp mornings, while winter opens the door to downhill skiing, cross-country skiing, skating, and snowshoeing. Every season offers a different way to experience this beautiful corner of Alberta. Here's where ownership gets interesting! Both suites come fully furnished, so everything is ready for you to start enjoying your time in Elkwater. Owners can enjoy up to 120 days of personal use each year, subject to availability, while the suites participate in the lodge's managed rental pool for the remainder of the year. The hotel handles guest bookings, cleaning, and maintenance, with rental revenue split 60% to the owner and 40% to the hotel. The owner's portion is applied toward condominium fees, with electricity paid separately by the owner. There's something pretty special about having a place in one of Alberta's most beautiful destinations. A place to make memories, spend time with the people you love, and enjoy a change of scenery whenever the opportunity comes along. With the comforts of your own space and the conveniences of a resort, this is an opportunity to make the Cypress Hills part of your story for years to come!

property details

type
Condo, Single Family
bedrooms
2
listed by
Cyrstal Hancock
Real Estate Centre
call Cyrstal · 403-501-8341
Powered by: REALTOR.ca

similar homes nearby

bathrooms
2
living area
1,041 sq ft
parking
0
year built
2006
property tax
$2,116 / yr
strata fee
$1,109 / mo ($1.06 / sq ft)
strata rules
Pets Allowed With Restrictions
days on market
14
MLS®
A2351682

features

  • PVC window
  • Lake Privileges
  • Pets Allowed With Restrictions
  • Refrigerator
  • Range - Electric
  • Dishwasher

monthly cost

$2,021/mo
Mortgage $736 · Tax $176 · Strata $1,109

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

estimated payment
$736/ monthly
loan $135,200
25-year amortization
total interest
$85,695
land title fees
$410
transfer + mortgage registration; Alberta has no transfer tax
cash to close
$34,210
down + land title fees
total paid
$220,895

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
$1,660/mo
after all costs
−$529/mo
cap rate
1.5%
yearly net rent ÷ price

Costs: mortgage $736 · tax $176 · strata $1,109 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 2-bedroom in Alberta: CMHC's average there ($1,670) 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

Elkwater, Rural Cypress CountyGoogle Maps ↗

property tax

about $1,006 a year

The asking price times Cypress County's 2026 residential rate of 5.95 per $1,000 (municipal and education).

The listing shows $2,116 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

Elkwater, Rural Cypress CountyGoogle Maps ↗
Drive times
  • Downtown Medicine Hat54 min
20

Walkability 20/100 · Mostly by car

Within a 10 minute walk: 1 place to eat or drink, 1 cafe.

mihom score from OpenStreetMap places, by straight line distance.

604 & 605, 401 4 Street, Rural Cypress County
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House
$179,900
4methe deep dive
604 & 605, 401 4 Street
Elkwater, Rural Cypress County176 days on market
listed by RIVER STREET REAL ESTATE
2321,334 sq ft
MLS® A2307118
505 & 506, 401 4 Street, Rural Cypress County
505 & 506, 401 4 Street, Rural Cypress County, photo 2
505 & 506, 401 4 Street, Rural Cypress County, photo 3
505 & 506, 401 4 Street, Rural Cypress County, photo 4
505 & 506, 401 4 Street, Rural Cypress County, photo 5
505 & 506, 401 4 Street, Rural Cypress County, photo 6
505 & 506, 401 4 Street, Rural Cypress County, photo 7
505 & 506, 401 4 Street, Rural Cypress County, photo 8
Condo
$173,900
4methe deep dive
505 & 506, 401 4 Street
Elkwater, Rural Cypress County326 days on market
listed by RIVER STREET REAL ESTATE
22
2
1,112 sq ft
MLS® A2273583