JN REAL ESTATE GROUP

PROFIT OR PASS · № 2 · OCT 8, 2026

RENTAL · 20% DOWN

Profit5.0out of 5

Profit at $509,900: renovated, legally suited, and roughly $1,515 a month positive.

Penbrooke Meadows · Detached, bi-level, legal suite

Main-floor living room with a stone corner fireplace, a wide three-pane window, and vinyl plank flooring
Main-floor kitchen with white shaker cabinets, a window over the sink, and a white electric range
Main-floor bathroom with a quartz vanity, black fixtures, and a tub with a sliding glass shower door
1 / 8

Front of the bi-level from the lawn, with a stone path to the entry and mature trees on both sides

Beds4
Baths2
Sqft1,115
Built1972
Ask$509,900

Monthly cash flow

Main floor renta+$2,300
Legal suite rentb+$1,700
Mortgagee−$1,975
Property taxc−$261
Insurance + maintenanced−$250
Costs $2,485What's left $1,515of $4,000 collected
Net / month+$1,515

Year one, honestly

Mortgage paydown+$7,042
Cash flow+$18,177
Appreciation — scenario, assumptionf$00.0%
Total first-year return+$25,219+24.7% of cash invested

A scenario, not a forecast. Appreciation is a labelled assumption. Confirm financing figures with your mortgage broker before acting.

What if — try the deal yourself

ProfitYour scenario
Down payment$101,980
Mortgage / month$1,975
Net / month+$1,515
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Automated estimate using this issue's scenario, not financial advice or a financing quote. Expenses other than the mortgage remain fixed at this issue's sourced assumptions. Confirm financing with your mortgage broker. This calculator does not replace a property-specific evaluation from us.

Sources

a
RentFaster.ca Penbrooke Meadows community rental baseline, anchored to our on-property condition read. Current main-floor asks in the community top out around $1,900/month; we underwrite above that because this unit is freshly renovated. We hold no private rental comp database; our assessment is that the two-bedroom main floor should achieve approximately $2,300/month.
b
RentFaster.ca Penbrooke Meadows community rental baseline, anchored to our condition read. Current basement-suite asks in the community top out around $1,500/month; we underwrite above that because this is a freshly renovated legal suite. Our assessment is that the two-bedroom legal suite should achieve approximately $1,700/month.
c
MLS record: annual property taxes $3,128.78 for the 2026 tax year.
d
Our operating allowance, not an insurance quote. Actual costs vary by carrier and maintenance requirements; $250/month is the working allowance used for this property.
e
Discounted 5-year fixed rates currently available through our mortgage broker partners; 4.15% is our working rate for this issue. The Bank of Canada posted conventional 5-year rate the same week was 6.19%.
f
Conservative $0 appreciation scenario used for a cash-flow-first read of the deal. This is not a forecast of Calgary price movement.

Why it works

  • The legal suite is already in place, so the second rent does not depend on building or legalizing a suite after purchase. A buyer can line up a tenant before closing, and in our experience that makes the mortgage approval easier.
  • Insurance is simpler too. Insurers are wary of basement suites that are not legal, and a legal suite takes that question off the table.
  • The expensive items are recent: new windows throughout, a 2025 furnace, and a 2026 hot water tank per the listing, and the plumbing has been replaced (no Poly-B). We would still confirm each one at inspection.
  • It works for an owner as well as an investor. Someone living on the main floor would carry roughly $785 a month after the suite rent, at the same 20% down.
  • At $509,900 it asks $85,100 less than the Penbrooke Meadows legal-suite house we ran in issue No. 1, with the renovation already done. It does give up that house's garage and its third upstairs bedroom.

What to watch

  • The cash flow above assumes a discounted 4.15% broker-channel rate. The posted conventional 5-year rate the same week was 6.19%. A buyer without access to that discounted rate should re-run the numbers before counting on this cash flow.
  • Our rents sit above every current ask in Penbrooke Meadows. If the units rent at the middle of today's asks instead (approximately $1,800 and $1,300), the cash flow drops to roughly $615 a month. Still positive, but a different first year.
  • Neither unit has laundry machines yet, only rough-ins, and there is one parking pad for two households. We would budget for two washer and dryer sets before the first tenants move in, and expect at least one tenant to park on the street.
  • The electrical is the original 1972 copper wiring and the roof's age is unknown. Some insurers ask about original wiring in a house this age, and the roof is the first thing we would have the inspector look at.

Our take

Profit

5.0 out of 5

Profit, and an easy one. This house is freshly renovated, legally suited, and it shows clean. At $509,900, the main floor at roughly $2,300 and the legal suite at $1,700 leave about $1,515 a month positive at 20% down over 30 years on a broker-rate mortgage. Even if both units rent at the middle of what the community is asking today, it still clears roughly $615.

The legal suite is what makes this one a fit for a first-time investor. You can have a tenant lined up before closing, which makes the mortgage approval easier, and insurers are far more comfortable with a legal suite than with a basement that is not. It suits a first-time owner who wants to live upstairs just as well.

In today's market the price is very attractive. We think this house would have sold for noticeably more a couple of years ago.

Budget for laundry in both units and have the inspector spend real time on the roof. Beyond that, there is very little to do here except rent it.

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