7, 3440 23 Avenue S

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

rent

$1,690/mo

after all costs

$99/mo

cap rate

5.9%

yearly net rent ÷ price

Costs: mortgage $784 · tax $158 · strata $479 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 2-bedroom in Lethbridge: CMHC's average there ($1,593) raised by what new tenants pay against everyone in the Lethbridge 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