602 1042 Nelson Street

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$899,000

602 1042 Nelson Street

Vancouver · MLS® R3175314

221

989 sq ft · Condo · Single Family · built 1986 · 11 days on market

listed by Timothy Turner, Sutton Group-West Coast Realty

realtor's description

Experience this lovely penthouse condominium nestled on a beautiful tree lined street in the coveted Nelson Park neighbourhood. This generous 2 bed, 2 bath gem enjoys abundant natural light throughout with an expansive floorplan & elegant hardwood flooring & tile throughout. Savour the entertainment sized dining & living room with gas fireplace + a well appointed kitchen with granite counters. Enjoy your morning coffee and evening cocktails on the large private patio covering nearly 300 sqft. Close to Vancouver's finest shopping & entertainment, transportation and the amazing West End Farmers Market! Your Oasis Awaits!

property details

type: Condo, Single Family
bedrooms: 2
bathrooms: 2
living area: 989 sq ft
parking: 1
year built: 1986
property tax: $3,135 / yr
strata fee: $535 / mo ($0.54 / sq ft)
strata rules: Pets Allowed
days on market: 11
MLS®: R3175314

buying in a building from 1982 to 2000: what to read first

features

Treed
Elevator
Pets Allowed
All

monthly cost

$4,713/mo

Mortgage $3,917 · Tax $261 · Strata $535

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

estimated payment

$3,917/ monthly

loan $719,200

25-year amortization

down payment20% · $179,80020%+ 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: $455,857
property transfer tax: $15,980; BC general rate
cash to close: $195,780; down + PTT
total paid: $1,175,057

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

rent: $3,250/mo
after all costs: −$1,758/mo
cap rate: 2.9%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $3,917 · tax $261 · strata $535 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 2-bedroom in West End, Vancouver: CMHC's average there ($2,874) raised by what new tenants pay against everyone in the Vancouver area, then down 0.8% with Vancouver'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
Vancouver also charges an empty homes tax. vancouver.ca
Selling within two years of buying can trigger the BC home flipping tax. gov.bc.ca

location

VancouverGoogle Maps ↗

Rapid transit: Vancouver City Centre SkyTrain station, 600 m (about 10 min walk); Burrard SkyTrain station, 700 m (about 11 min walk).

schools

Catchment schools, Vancouver School Board

Elementary Roberts Elementaryhomes in this catchment
1000 m away · 1100 Bidwell St, Vancouver · 604-713-5055
Secondary King George Secondaryhomes in this catchment
1.1 km away · 1755 Barclay St, Vancouver · 604-713-8999

From the Vancouver School Board's published catchment maps. A catchment gives priority, not a guaranteed seat, and French immersion and choice programs work differently. The district confirms catchment: check with its school locator.

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