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$1,130,000

7991 138A STREET

Surrey · MLS® R3171666

7 bed · 4 bath · 2,263 sq ft · 5,005 sq ft lot · 6 parking

House · Single Family · built 1981 · 7 days on market

Listed by Sewak Dhillon, Royal LePage Global Force Realty

Realtor's description

Welcome to this well-kept home in the desirable East Newton neighborhood of Surrey. Conveniently located within walking distance to Bear Creek Elementary School, Bear Creek Park, Shri Narayan Mandir, and a Sikh temple. This property is perfect for first-time home buyers, families, or investors looking for excellent mortgage-helping rental income. Currently generating approximately $3,000 per month in rental income, including a 3-bedroom suite rented for $2,500/month and a studio suite rented for $500/month. The home offers a functional layout, spacious living areas, and ample parking. A great opportunity to own a home with strong income potential in one of Surrey's most sought-after family-oriented communities. Don't miss out-book your private showing today!

Property details

Type: House, Single Family
Bedrooms: 7
Bathrooms: 4
Living area: 2,263 sq ft
Lot: 5,005 sq ft
Parking: 6
Year built: 1981
Property tax: $5,651 / yr
Days on market: 7
MLS®: R3171666

Features

Washer
Refrigerator
Dishwasher
Stove
Dryer

Price check

Typical for the area (-6.1%)

2026 assessment: $1,116,600 · asking is +1.2%
Price per sq ft: $499 vs $532 median for houses in Surrey for sale (1849)
Last sold: $1,350,000 · Sep 26, 2024

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 7 days · no price changes so far

The market here

Listed now: 64 days; median for 1904 houses for sale; this one 7 days

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

Property tax by year

Year	Assessed	Est. tax
2026	$1,116,600	$3,827

The listing shows $5,651 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

$5,394/mo

Mortgage $4,923 · Tax $471

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

estimated payment

$4,923/ monthly

loan $904,000

25-year amortization

down payment20% · $226,00020%+ 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: $572,990
property transfer tax: $20,600; BC general rate
cash to close: $246,600; down + PTT
total paid: $1,476,990

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

Suite rent: $1,602/mo
Your cost after the suite: $4,095/mo; vs $5,569 without it

Suite rent / moDown payment %Rate %

Costs: mortgage $4,923 · tax $471 · insurance ~$175 · vacancy 3% · upkeep 5%.

Rent starts at CMHC's average for a 3+ bedroom (1-bedroom for the suite) 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

Lot outline: 463 m² (4,984 sq ft) · PID 002-505-673. 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 Bear Creek Elementaryhomes in this catchment
200 m away · 13780 80 Ave, Surrey · 604-594-7501
Secondary Frank Hurt Secondaryhomes in this catchment
600 m away · 13940 77 Ave, Surrey · 604-590-1311

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.

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