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502, 4820 47 Avenue
homes for sale · Red Deer · Parkvale
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$95,000

502, 4820 47 Avenue

Parkvale, Red Deer · MLS® A2337926

111

486 sq ft · Condo · Single Family · built 1977 · 68 days on market

listed by Derek Austin, Century 21 Advantage

realtor's description

Parkvale located 5th floor , elevator access end unit 1-bedroom, 1-bathroom condo on the Edge of Downtown Red Deer. Unit shows well and features a functional open-concept layout, spacious living room, galley kitchen, and full 4-piece bath. Unit has been upgraded with Neutral paint colours, Laminate flooring in LI ( large window) Ceramic tiles in kitchen and bathroom , bedroom has lino ( Large windows) . Same-floor coin laundry, 1 parking stall with the option to pay for a powered stall for $35.00 per month. This unit has always been in a Rental pool. All utilities included in Rental rate of $ 1,025.00.( new rental rates for new tenants will be $1075) Condo fee $393.96/Monthly includeds all utilities . Tenant has lived here for around 2 yrs. Security camera's outside and inside , Fob access to building front and back doors. On-site manager. Unbeatable location within walking distance of shopping, dining, medical facilities, and Waskasoo trail system. City Park area just south of building . Golden Circle Seniors community centre and recreation centre with swimming pool is also close by. Pet friendly with board approval . Ideal for buyers or investors looking for high value!

property details

type
Condo, Single Family
bedrooms
1
bathrooms
1
living area
486 sq ft
parking
1
year built
1977
property tax
$902 / yr
strata fee
$394 / mo ($0.81 / sq ft)
strata rules
Pets Allowed With Restrictions
days on market
68
MLS®
A2337926

features

  • No Animal Home
  • Parking
  • Pets Allowed With Restrictions
  • Refrigerator
  • Stove
  • Window Coverings

monthly cost

$883/mo
Mortgage $414 · Tax $75 · Strata $394

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

estimated payment
$414/ monthly
loan $76,000
25-year amortization
total interest
$48,172
land title fees
$275
transfer + mortgage registration; Alberta has no transfer tax
cash to close
$19,275
down + land title fees
total paid
$124,172

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
$1,170/mo
after all costs
$158/mo
cap rate
7.2%
yearly net rent ÷ price

Costs: mortgage $414 · tax $75 · strata $394 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 1-bedroom in Red Deer: CMHC's average there ($1,220) lowered by what new tenants pay against everyone in the Red Deer 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

location

Parkvale, Red DeerGoogle Maps ↗

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listed by
Derek Austin
Century 21 Advantage
call Derek · 403-597-2871
Powered by: REALTOR.ca

similar homes nearby

property tax

about $933 a year

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

The listing shows $902 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

Parkvale, Red DeerGoogle Maps ↗
Drive times
  • Downtown Red Deer1 min
  • Grandview Elementary2 min
  • Red Deer Regional Hospital Centre4 min
  • Lindsay Thurber Comprehensive High4 min
  • Parkland Mall6 min
  • Red Deer Polytechnic8 min
85

Walkability 85/100 · Very walkable: most errands on foot

Within a 10 minute walk: 17 places to eat or drink, 5 cafes, 7 parks and playgrounds, 2 schools, 3 pharmacies, 20 transit stops.

mihom score from OpenStreetMap places, by straight line distance.

405, 4820 47 Avenue, Red Deer
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Condo
$88,900
4methe deep dive
405, 4820 47 Avenue
Parkvale, Red Deer26 days on market
listed by RE/MAX real estate central alberta
12496 sq ft
MLS® A2347601