Turnkey Legally Suited Investment in Sunridge
$399,900
-$448
📍 144 Mt Sundial Court W, Lethbridge, AB T1J 5C3 — This legalized up/down rental property in the desirable Sunridge neighborhood offers a proven investment opportunity under $400,000. Featuring two self-contained units, it provides a perfect setup for investors looking to house-hack or add a stable asset to their portfolio.
This property at 144 Mt Sundial Court W is a verified, legally suited up/down duplex located in the Sunridge area of Lethbridge. The upper unit features 2 bedrooms and 2 bathrooms, highlighted by vaulted ceilings, hardwood floors, and a private deck. The basement unit provides an additional 2 bedrooms and 1 bathroom, offering a functional, light-filled living space with in-suite laundry. The property is marketed as a legalized rental, providing peace of mind regarding zoning and safety compliance. Based on a purchase price of $399,900 with 20% down ($79,980) at a 5.5% interest rate over a 25-year amortization, the monthly mortgage payment is approximately $1,955. With estimated market rents of $2,600/month and annual property taxes estimated at $4,799 (1.2% of purchase price), the property shows potential for positive cash flow after accounting for typical operating expenses. Lethbridge continues to demonstrate strong fundamentals, with a 5-year historical appreciation of 25% and a 1-year appreciation of 5%. This asset serves as a strong investment thesis for those seeking a low-entry, high-demand rental property in a stable Alberta market. As with any investment, investors should conduct their own due diligence regarding current tenant status and specific municipal compliance. Risks include potential vacancy periods and maintenance costs typical of older suited properties, though the legal status significantly mitigates regulatory risk.
Our Take: Negative Cash Flow — Proceed with Caution
At -$448/month, this property costs more to carry than it earns in rent under our assumptions. It may still work with better financing or higher rents — use our calculator to test your own numbers.
Run Your Own Numbers
These figures use standard assumptions. Your actual results depend on your financing, local rates, and management costs. Use our free calculator to model this exact deal with your own inputs.
Calculation Assumptions
- • Monthly rent: $2,600/mo (market estimate)
- • Down payment: 20% of purchase price
- • Mortgage rate: 5.5% annually, 25-year amortization
- • Property tax: $4,799/year (~1.2% estimate)
- • Property management: 8% of monthly rent
- • Maintenance: 2.5% of monthly rent
- • Insurance: 5% of annual rent
- • Repairs: $150/month
- • Vacancy: 5% of monthly rent
- • Closing costs: ~3% of purchase price (not included in cash flow)
🤖 AI-Generated Content: This market spotlight was researched and written by an AI using live web data. Property details, rental figures, and financial calculations may not be exact and could contain errors or inaccuracies.
⚠️ All listing details, rental estimates, suite/zoning status, and financial calculations must be independently verified before making any investment decision. This content is for educational purposes only and does not constitute investment advice. Always consult a qualified real estate professional, mortgage broker, and financial advisor.
