516 Terrace Park


Red Deer, Alberta T4N1V8

3 beds• 2 baths• 1,165 sqft

Description

Located in Eastview, in the front row of Terrace Park, this well-kept 2-storey townhome offers approximately 1,100 square feet of developed living space across three levels, three bedrooms, a 4-piece bathroom, a 2-piece bathroom, and a fully finished basement — backed by a list of recent updates including a new roof (2023), new front concrete stairs, updated windows, and new vinyl flooring (2026).The new concrete steps lead to the covered front entry with a frosted glass door insert, opening into a bright foyer with an archway through to the main living space. The living room is filled with natural light from a large picture window and finished with new vinyl plank flooring that carries throughout the main level. An open layout connects the living room to a functional kitchen featuring white upper cabinets, black lower cabinetry, tile backsplash, and a dining nook with a sliding patio door leading out to the backyard — one of just a handful of units in the complex with this patio door configuration, offering the option to build out a deck.Upstairs, you'll find three bedrooms, including a primary bedroom with a ceiling fan and a second bedroom currently set up as a flexible space. The upper 4-piece bathroom has been nicely updated with a tiled tub surround and rainfall shower head.The basement adds valuable extra living space with a large carpeted rec room, a walk-in closet for storage, in-suite laundry with a washer and dryer, and a 2-piece bathroom — offering flexibility for a home office, media room, or additional storage.Outside, the fully fenced backyard includes a stone patio area, space for a barbecue, and a storage shed, with easy access to nearby amenities throughout Eastview.This is a solid, move-in-ready opportunity in an established Red Deer neighbourhood, offering major recent updates — roof, stairs, windows, and flooring — alongside a finished basement and rare patio door/deck potential, all on its own freehold title. (id:39198)

Facts & Features

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● Building Type

Row / Townhouse

● Year built

1961

● Square Footage

1,165 sqft

● Stories

2

● Bedrooms

3

● Bathrooms

2

● Parking

2

● Neighbourhood

Eastview

● Land size

--

● Heating type

Forced air, Natural gas

● Basement type

Finished, Full

● Parking Type

--

● Time on REALTOR.ca

61 days

Home price

$259,999

Initial Deposit

I want to start the program with
an initial down payment of

$
=2%

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

$2,351/month

The payment includes

Rent

$2,072

Rent is rent and it won't be deducted from the buyback price.

Monthly Savings

$279

Each month, $279 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:

1 year2 years3 years
Year 3

Buyback Price

$300,981

Cumulative Down Payment

$15,049

• Initial Deposit

$5,000

• Monthly Savings x 36 months

$10,049

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

$2,351/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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