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How Much You Can Afford When Applying For A Mortgage

In Canada, the minimum down payment requirements can impact how much you can afford when applying for a mortgage. These rules dictate that the minimum down payment must be:

  • 5% of the purchase price for homes up to $500,000
  • 10% of the purchase price for any amount between $500,000 and $1 million
  • 20% of the purchase price for homes over $1 million.

For example, if you have saved $15,000 for a down payment, the maximum home price you can afford would be $300,000 ($15,000 divided by 5%). However, if your down payment was $30,000, your maximum affordability would increase to $550,000. You can use our mortgage affordability calculator to run the numbers yourself and determine what price range would be suitable for your budget. However, some lenders may require a higher down payment depending on your credit score, employment history, and other factors. It's important to speak with a mortgage lender (I can help with this)to get a more accurate estimate of your down payment requirements.(Loanscanada.ca)

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1713,1717,1721 45 Street Street SE
Forest Lawn Calgary T2A 1N4

$2,500,000
Multi-Family 3,103 sq. ft. built: 1959

3 identical straight line lots
Photo 1: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
Photo 2: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
Photo 3: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
Photo 4: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
Photo 5: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
Photo 6: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
Photo 7: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
Photo 8: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
Photo 9: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
Photo 10: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
Photo 11: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
Photo 12: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
Status:
Active
Prop. Type:
Multi-Family
MLS® Num:
A2204173
Year Built:
1959
This 17,631 sq. ft. land assembly at 1713, 1717 & 1721 45 St SE is being sold as a package of all three properties, offering an exceptional multi-family development opportunity in one of Calgary’s fastest-growing urban corridors. With 147 feet of frontage and 126 feet of depth, this MC1-zoned site is primed for townhomes, stacked rowhomes, or a mid-rise apartment project. Developers also have the opportunity to apply for MC2 rezoning, allowing for increased density, greater building height, and maximized returns. Under the current MC1 zoning, a developer could build up to 18-24 multi-residential units, depending on the design and site configuration. With a successful rezoning to MC2, density could increase further, making it possible to develop 30+ units, maximizing land use and investment potential. Located 10 minutes from downtown, this site provides quick access to downtown and major roadways like 17th ave and Memorial Dr, making it an attractive option for future residents. Public transit is already in place with a MAX Purple express station within walking distance and with the upcoming Green Line LRT expansion, connectivity and long-term property value will only improve. The City of Calgary has also committed to streetscape enhancements, pedestrian-friendly infrastructure, bike lanes, and public space improvements, increasing the area's appeal and livability. This location is ideal for a long-term investment or a high-yield development project. The site offers alley access and an extra wide street, allowing for efficient site planning, parking, and construction flexibility. Additionally, two of the three properties are tenant-occupied, providing immediate holding income while development plans are finalized. Please don't disturb the tenants, detailed showings will be accommodated directly through the selling agent.
Property Type:
Multi-Family
Property Sub Type:
Row/Townhouse
Transaction Type:
For Sale
Possession:
Possession Date:
Home Style:
Bungalow
Total Living Area:
3,103.35 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
17,631 sq. ft.
Lot Frontage:
147'
Lot Details:
147 x 126
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:
Reg. Size:
Reg. Size Includes:
Year built:
1959 (Age: 66)
Bathrooms:
- (Full:-, Half:-)
Plan:
Multiple
New Constr.:
No
Structure Type:
Other
Ensuite:
No
Garage:
1
Parking:
Alley Access, Off Street, Quad or More Detached
Parking Places:
6
Parking Total/Covered:
6 / -
Forest Lawn
Appliances
See Remarks
Title to Land:
Fee Simple
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone E
Zoning:
M-C1
Listed Date:
Apr 02, 2025
Days on Mkt:
  • Photo 1: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
    3 identical straight line lots
  • Photo 2: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
    Photo 2 of 12
  • Photo 3: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
    Wide street & alley access
  • Photo 4: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
    Photo 4 of 12
  • Photo 5: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
    Photo 5 of 12
  • Photo 6: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
    Less than 10km to downtown
  • Photo 7: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
    MAX Purple bus station steps away
  • Photo 8: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
    Grocery store options
  • Photo 9: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
    Restaurants and shops
  • Photo 10: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
    Amenities
  • Photo 11: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
    Close to parks & schools
  • Photo 12: 1713,1717,1721 45 Street Street SE in Calgary: Forest Lawn Row/Townhouse for sale : MLS®# A2204173
    Photo 12 of 12
Listed by Real Broker
Data was last updated May 20, 2025 at 10:05 AM (UTC)
Area Statistics
Listings on market:
26
Avg list price:
$1,325,000
Min list price:
$875,000
Max list price:
$5,495,000
Avg days on market:
44
Min days on market:
4
Max days on market:
168
Avg price per sq.ft.:
$539.95
These statistics are generated based on the current listing's property type and located in Calgary. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706