Discover Affordable Mahogany Homes for Sale Under $500,000 in Calgary (Updated Daily)

Mahogany, the vibrant and desirable community in Calgary, is not just known for its luxurious lakefront properties. The neighborhood also offers a selection of homes for sale under $500,000, providing an excellent opportunity for first-time homebuyers, young families, and those seeking more affordable options without compromising on the Mahogany lifestyle.

Highlights of Mahogany Homes Under $500,000 in Calgary

  1. Lakeside Living at a Lower Price Point: While Mahogany is renowned for its premium lakefront homes, the community also features more affordable options, allowing residents to enjoy the benefits of lakeside living without breaking the bank.

  2. Diverse Home Styles: The homes for sale under $500,000 in Mahogany come in a variety of styles, including townhouses, semi-detached, and compact single-family residences, catering to diverse homebuyer needs and preferences.

  3. Functional and Efficient Layouts: These more affordable Mahogany homes often feature well-designed floor plans that maximize living space, with open-concept living areas, ample storage, and thoughtful use of square footage.

  4. Modern Finishes and Amenities: Even at the lower price point, the Mahogany homes under $500,000 boast contemporary finishes, such as stainless steel appliances, quartz or granite countertops, and energy-efficient features, providing a sense of quality and comfort.

  5. Access to Community Amenities: Regardless of the home's price, Mahogany residents enjoy full access to the community's exceptional amenities, including the 49-acre lake, parks, walking trails, recreation centers, and a vibrant commercial district.

  6. Ideal for First-Time Homebuyers: The Mahogany homes under $500,000 represent an excellent entry point into the Calgary real estate market, allowing first-time homebuyers to establish a foothold in a highly desirable community.

  7. Investment Potential: With Mahogany's reputation for growth, desirability, and continuous development, these more affordable homes can offer strong long-term investment opportunities for homeowners.

  8. Convenient Location: Mahogany's strategic location provides easy access to major transportation routes, employment hubs, and a variety of recreational and leisure options, making it an attractive choice for a wide range of homebuyers.

Work with a Trusted Real Estate Professional

To explore the available Mahogany homes for sale under $500,000 in Calgary, we recommend partnering with a seasoned real estate expert like Diane Richardson. Diane's deep understanding of the local market and commitment to personalized service will ensure you find the perfect home that aligns with your budget, lifestyle, and investment goals.

Contact Diane Richardson:
Phone: 403.397.3706
Email: diane@mypadcalgary.com

Discover the Affordable Allure of Mahogany, Calgary

Explore the captivating Mahogany homes for sale under $500,000 in Calgary, where lakeside living, modern amenities, and exceptional value converge. Partner with Diane Richardson to find your dream home in this vibrant and desirable community.

There are several ways to contact Diane Richardson:

  1. Contact form: Fill out the contact form on my website to send me a message directly from the page. Please include your name, email address, and a message, along with the property address or MLS® number for the listing you're interested in.

  2. Phone number: Call me directly at 403.397.3706 with any questions or to schedule viewings.

  3. Email address: Reach out to me at Diane@Mypadcalgary.com with any questions or to request more information.

  4. Live chat: Utilize the live chat feature on my website to get in touch with me in real-time and receive immediate answers to your questions.

No matter which method you choose, I'm always here to assist you with your real estate needs.

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316 56 Avenue NE
Thorncliffe Calgary T2K 0L2

$669,900
Residential beds: 5 baths: 3.0 1,078 sq. ft. built: 1965

Main Photo: 316 56 Avenue NE in Calgary: Thorncliffe Detached for sale : MLS®# A2221727
Photo 1: 316 56 Avenue NE in Calgary: Thorncliffe Detached for sale : MLS®# A2221727
Photo 2: 316 56 Avenue NE in Calgary: Thorncliffe Detached for sale : MLS®# A2221727
Photo 3: 316 56 Avenue NE in Calgary: Thorncliffe Detached for sale : MLS®# A2221727
Photo 4: 316 56 Avenue NE in Calgary: Thorncliffe Detached for sale : MLS®# A2221727
Photo 5: 316 56 Avenue NE in Calgary: Thorncliffe Detached for sale : MLS®# A2221727
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Photo 35: 316 56 Avenue NE in Calgary: Thorncliffe Detached for sale : MLS®# A2221727
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2221727
Bedrooms:
5
Bathrooms:
3
Year Built:
1965
SOUTH FACING R-CG, CORNER LOT NEXT TO THE RIDGE AND DOG PARK! This bright and versatile bungalow is tucked onto a sunny south-facing corner lot in Thorncliffe and offers a fully legal 2-bedroom basement suite, making it an ideal setup for homeowners, investors, or multi-generational living. The main floor offers a spacious, open-concept layout where the living room, dining area, and kitchen flow seamlessly together—perfect for daily life or entertaining. The kitchen is tastefully updated with dark wood cabinetry, granite tile countertops, and stainless steel appliances, while details like crown molding, decorative tile ceilings, and classic columns add timeless character. You’ll find three generous bedrooms upstairs, including a primary suite with a private 2-piece ensuite, all finished in soft, modern tones. Downstairs, the legal 2-bedroom suite is flooded with natural light thanks to oversized windows, and features a modern kitchen, full bath, and a large, comfortable living area—ideal for tenants, family, or guests. A new hot water tank and well-maintained mechanical systems ensure everything is running smoothly. The home features a shared laundry room with two full washer/dryer sets, along with ample storage throughout. Step outside to enjoy the fenced backyard, which benefits from south and west-facing exposure—perfect for sunny afternoons, gardening, or hosting BBQs. The corner lot provides additional privacy, potential for RV or off-street parking, and room to grow. Located just minutes from Deerfoot Trail, downtown Calgary, Deerfoot City, and only a short drive to the airport, this location offers unbeatable access to everything you need—plus proximity to the community center, nearby elementary schools, and greenspace with pathways just three houses away—all while still enjoying the quiet charm of a family-friendly street. This is a home that delivers on both lifestyle and long-term value—don’t miss your chance!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Legal
Home Style:
Bungalow
Total Living Area:
1,077.92 sq. ft.
Main Level Finished Area:
1,077.92 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,039.81 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,855 sq. ft.
Lot Frontage:
54'2"
Acres Cleared:
Acres Cultivated:
Acres Irrigated:
Acres Leasehold:
Acres Not Cultivated:
Acres Freehold:
Acres Seeded:
Acres Tame Hay:
Acres Treed:
Acres Waste:
Acres Water Rights:
Front Exposure:
South
Reg. Size:
Reg. Size Includes:
Levels:
One
Total Rooms Above Grade:
7
Year built:
1965 (Age: 60)
Bedrooms:
5 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
2
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
2951JK
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full, Suite
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Ceramic Tile, Cork, Hardwood
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached, Garage Door Opener, RV Access/Parking
Parking Places:
2
Parking Total/Covered:
2 / -
Laundry Features:
Common Area, In Basement, Lower Level
Thorncliffe
Dishwasher, Electric Stove, Garage Control(s), Microwave Hood Fan, Refrigerator, Washer/Dryer
Basement Dishwasher, Basement Refrigerator and Basement Stove,
Airspace Restriction
Floor
Type
Size
Other
Main Floor
Bedroom
11'11" × 10'2"
Main Floor
Bedroom
9'7" × 8'4"
Main Floor
Dining Room
9'6" × 8'11"
Main Floor
Foyer
3'7" × 3'6"
Main Floor
Kitchen
12'2" × 12'
Main Floor
Living Room
18'3" × 14'10"
Main Floor
Bedroom - Primary
14' × 12'
Basement
Bedroom
11'7" × 10'8"
Basement
Bedroom
11'6" × 11'1"
Basement
Dining Room
10'11" × 7'
Basement
Kitchen
14'9" × 8'1"
Basement
Laundry
12'10" × 9'3"
Basement
Game Room
14'1" × 13'
Floor
Ensuite
Pieces
Other
Main Floor
Yes
2
5' x 4'5"
Main Floor
No
4
4'11" x 7'2"
Basement
No
3
5'3" x 7'9"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Crown Molding, Kitchen Island, Open Floorplan, Separate Entrance
Exterior Features:
Private Entrance, Private Yard, Rain Gutters, Storage
Patio And Porch Features:
Patio
Lot Features:
Back Lane, Back Yard, Corner Lot, Landscaped
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone N
Zoning:
R-CG
Listed Date:
May 21, 2025
Days on Mkt:
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Virtual Tour

Listed by Century 21 Bamber Realty LTD.
Data was last updated May 23, 2025 at 10:05 PM (UTC)
Area Statistics
Listings on market:
24
Avg list price:
$439,500
Min list price:
$295,000
Max list price:
$1,445,000
Avg days on market:
23
Min days on market:
1
Max days on market:
93
Avg price per sq.ft.:
$454.84
These statistics are generated based on the current listing's property type and located in Thorncliffe. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706