3433 51 Avenue
Red Deer, Alberta T4N4E9
2 beds• 1 bath• 692 sqft
Description
SOUTH HILL REDEVELOPMENT/INVESTMENT OPPORTUNITY on a large 48' x 134' lot zoned R-M for multi-family. The property is located within walking distance of shopping, restaurants, downtown amenities, and Red Deer Regional Hospital. The existing 1.5 storey home has seen some recent updates including vinyl plank flooring, an updated kitchen with newer cabinetry, countertops, and appliances, plus a renovated 4-piece bathroom with updated tub, tile surround, and vanity. Other improvements include PEX plumbing lines and a high-efficiency furnace. The main floor offers a functional layout with two bedrooms, a bright living room, and spacious kitchen area. The upper level would be best suited for storage, hobby space, or a kids' play area. The basement remains unfinished but includes laundry and a walk-up exit to a covered exterior storage area with direct access to the backyard. Outside, the extra deep yard and rear alley access create flexibility for future development plans or parking. The R-M zoning and lot dimensions make this property well-suited for a range of future development configurations. (id:39198)
Facts & Features
● Building Type
House
● Year built
1947
● Square Footage
692 sqft
● Stories
1.5
● Bedrooms
2
● Bathrooms
1
● Parking
3
● Neighbourhood
South Hill
● Land size
--
● Heating type
Forced air, Natural gas
● Basement type
Unfinished, Full, Walk-up
● Parking Type
--
● Time on REALTOR.ca
1 day
Brokerage Name: RE/MAX real estate central alberta
Home price
$229,900
Initial Deposit
I want to start the program with
an initial down payment of
Minimum 2% of the home price or $5,000 whichever is higher
The higher the initial deposit, the lower the monthly payments
Your Monthly Payment
$2,152/month
The payment includes
Rent
$1,921
Rent is rent and it won't be deducted from the buyback price.
Monthly Savings
$231
Each month, $231 is set aside toward your homeownership goal in addition to your initial down payment. This mandatory monthly savings help you achieve your savings goal.
Buyback
Here is the final price if I buy the house after:
Buyback Price
$266,138
Cumulative Down Payment
$13,307
• Initial Deposit
$5,000
• Monthly Savings x 36 months
$8,307
Buyback Price
$241,395
Cumulative Down Payment
$7,769
• Initial Deposit
$5,000
• Monthly Savings x 12 months
$2,769
Buyback Price
$253,465
Cumulative Down Payment
$10,538
• Initial Deposit
$5,000
• Monthly Savings x 24 months
$5,538
Buyback Price
$266,138
Cumulative Down Payment
$13,307
• Initial Deposit
$5,000
• Monthly Savings x 36 months
$8,307
There is no minimum rental terms. You can buy back the home anytime throughout the 3-year standard rent-to-own term!
Rent-to-Own This Home for
$2,152/month
This home is listed on realtor.ca. Requity Homes doesn‘t own it—yet. But if it fits your budget and meets our criteria, we can buy it for you through our rent-to-own program.
You move in with as little as 2% down. Part of your monthly payment builds your future down payment. You can buy back the home anytime throughout the 3-year standard rent-to-own term!
No Hidden Fees, No Hidden Costs - Requity pays legal fees, title insurance and land transfer tax when Requity buys the home upfront. Client pays for inspection.
Client initial deposit is applied directly to the down payment when clients are ready to buy the home.
Few ways to reduce your monthly payments
• Look at homes with a lower price
• Put down a higher initial down payment
• Sublet the rooms for extra income
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