2404/2406 Richmond Road SW · Duplex

2404/2406 Richmond Road SW is a 2-unit duplex in Calgary, AB, asking $949,900 — $474,950 per door.

That sits above the Calgary band of $190k - $310k per door. A price above the band has to be earned by rents, condition, or upside that the listing has not yet shown. Calgary cap rates screen 5.6% - 7.2% against average rent near $2,050 a door.

At 2 units this finances as residential, not commercial — MLI Select starts at five units. The qualifying rate still applies: federally regulated lenders test a 1–4 unit rental at the greater of your contract rate plus two points or 5.25%.

Calgary screens well for current yield, population growth, and landlord policy, with cyclical exposure still worth stress testing. Investor demand reads high, vacancy tightening.