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$798,000

62 12040 68 AVENUE

Surrey · MLS® R3099290

All units at 12040 68 Ave →

3 bed · 3 bath · 1,960 sq ft · 2 parking

Townhouse · Single Family · built 2005 · 211 days on market

Listed by Joy Yang, Multiple Realty Ltd.

Realtor's description

Marble" plan offers 3 bdrms, 3 full baths, patio & fenced backyard off kitchen &double tandem garage. Features laminate floor through main. Bright south facing living/dining room with £/p, open kitchen w/raised breakfast bar, adjoining family room perfect for computer space or nook. Generous master BR w/4 piece ensuite. Terrane offers a rare chance to experience an amazing family oriented lifestyle with schools, parks, library, shopping, recreation, restaurants and transportation just steps away.

Property details

Type: Townhouse, Single Family
Bedrooms: 3
Bathrooms: 3
Living area: 1,960 sq ft
Parking: 2
Year built: 2005
Property tax: $3,824 / yr
Strata fee: $493 / mo ($0.25 / sq ft)
Strata rules: Pets Allowed With Restrictions, Rentals Allowed With Restrictions
Days on market: 211
MLS®: R3099290

Features

Pets Allowed With Restrictions
Rentals Allowed With Restrictions
Washer
Refrigerator
Dishwasher
Stove

Price check

Below typical for the area (-19%)

2026 assessment: $895,000 · asking is -11%
Price per sq ft: $407 vs $503 median for townhouses in Surrey for sale (868)

An estimate from public BC Assessment records, registered sales and the listings for sale right now, not an appraisal. Condition, renovations, views and lot all move real value.

Property insights

On market 211 days · no price changes so far

The market here

Listed now: 51 days; median for 882 townhouses for sale; this one 211 days

Townhouses in Surrey. Sale prices register 1 to 3 months after a sale closes.

Property tax by year

Year	Assessed	Est. tax
2026	$895,000	$3,067
2025	$945,000	$2,937

Estimated tax up 4.4% from 2025 to 2026.

The listing shows $3,824 a year in property tax.

Estimate: the BC Assessment value times Surrey's residential tax rate for that year (Province of BC, local government statistics). Leaves out the home owner grant, parcel taxes and utility charges; the city's tax notice is the real figure.

Monthly cost

$4,288/mo

Mortgage $3,477 · Tax $319 · Strata $493

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

estimated payment

$3,477/ monthly

loan $638,400

25-year amortization

down payment20% · $159,60020%+ down: no mortgage insuranceinterest rate4.34%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 9, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $404,643
property transfer tax: $13,960; BC general rate
cash to close: $173,560; down + PTT
total paid: $1,043,043

Estimates only. Rates change daily and lenders qualify at the stress-test rate; first-time-buyer and newly-built PTT exemptions aren't applied. Talk to a mortgage broker before you offer.

If you rented it out

Rent: $1,956/mo
After all costs: −$2,664/mo
Cap rate: 1.2%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $3,477 · tax $319 · strata $493 · insurance ~$175 · vacancy 3% · upkeep 5%.

Rent starts at CMHC's average for a 3+ bedroom in Surrey (CMHC Rental Market Survey, October 2025). Averages include long-time tenants, so new leases usually ask more; 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

Location

The building's lot: 35,193 m² (378,814 sq ft) · PID 026-598-761. From ParcelMap BC; property lines are approximate, a survey is the legal boundary.

SurreyGoogle Maps ↗

Location

SurreyGoogle Maps ↗

Schools

Catchment schools, Surrey School District 36

Elementary Beaver Creek Elementaryhomes in this catchment
900 m away · 6505 123a St, Surrey · 604-572-6911
Secondary Tamanawis Secondaryhomes in this catchment
1.3 km away · 12600 66 Ave, Surrey · 604-597-5234

From the Surrey School District 36'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.

Development nearby

Development permit for a 6 storey, 53 unit building
370 m away · 2022 · under review
Development Permit for Sensitive Ecosystems and to permit the construction of a six-storey mixed use building with 53 residential units and 4731 sq.m. ground floor commercial retail units.

Applications filed with the city, active or decided in the last 3 years, measured from the listing's map pin. An application isn't an approval; the city's page has the current details. Source: City of Surrey development applications.

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