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Home Communities Rainbow Falls 397 Rainbow Falls Drive
$475,000 Expired
397 Rainbow Falls Drive · Chestermere · T1X 0L1
3 bd 4.0 ba 1,440 sqft $330/sqft Built 2006
MLS® A2278613 · Listed Jan 12, 2026
Listed by Century 21 Bravo Realty — Jennifer Ashton
By the numbers

How this listing measures up

$/sqft $330
vs Rainbow Falls median -30% community avg $682K
Sqft per bedroom 480
Year built 2006
Annual taxes $2,421 2025
Garage 2 spaces
$/sqft distribution

Where this listing sits in Rainbow Falls

Of 30 active residential listings in Rainbow Falls, this property at $330/sqft sits in the $300–350 range.
$200–$250/sqft · 2 listings $250–$300/sqft · 11 listings $300–$350/sqft · 10 listings $350–$400/sqft · 3 listings $400–$450/sqft · 1 listing $450–$500/sqft · 0 listings $500–$550/sqft · 2 listings $550–$600/sqft · 1 listing $200 $250 $300 $350 $400 $450 $500 $550 $600 This · $330
Other active listings This listing's price range This listing

About this property

Welcome to the Brownstones of Rainbow Falls! This 3 bedroom, 2 Story, walk out townhouse is one of a kind! Offering over 1400sqft of living space, this well maintained and spacious home is perfect for families, first time buyers, or investors. The main floor boasts a bright, open concept living and dining area, ideal for everyday living and entertaining. Large windows allow plenty of natural light throughout the day. The kitchen offers dark wood cabinets an oversize island, a New Refrigerator and Dishwasher and a washer/dryer for the upper level. Downstairs is fully developed with a private entrance, wet bar and laundry. Featuring New multizone Furnace and ducting, water tank, carpet, paint throughout, and washer/dryers. The basement ceiling has been dropped and sound insulation installed to allow a quiet comfortable space. Conveniently located close to schools, parks, walking paths, and restaurants.

Property details

Bedrooms3
Bathrooms4.0
Style2 Storey
HeatingENERGY STAR Qualified Equipment,Forced Air,Natural Gas
CoolingNone
FlooringCarpet,Linoleum,Vinyl
LevelsTwo
BasementFull
Basement developmentFinished
Interior featuresCloset Organizers,Kitchen Island,Laminate Counters,No Smoking Home,Open Floorplan
AppliancesDishwasher,Electric Stove,ENERGY STAR Qualified Dryer,ENERGY STAR Qualified Washer,Garage Control(s),Microwave Hood Fan,Refrigerator,Washer/Dryer Stacked,Window Coverings
InclusionsNA
LaundryIn Basement,In Kitchen
Lot featuresBack Lane,Back Yard,Front Yard,Landscaped
Exterior featuresBalcony,Other,Private Entrance
FencingNone
PatioBalcony(s)
Year built2006
Construction materialsVinyl Siding,Wood Frame,Wood Siding
RoofAsphalt Shingle
FoundationPoured Concrete
Parking featuresDouble Garage Detached
Garage spaces2
Parking total3
Annual taxes$2,421
Tax year2025
PossessionNegotiable,Other/See Remarks,Subject To Tenancy
ZoningR-3
TitleFee Simple
RestrictionsBoard Approval,Pet Restrictions or Board approval Required,Restrictive Covenant,Utility Right Of Way
NeighbourhoodRainbow Falls
Community featuresFishing,Golf,Lake,Park,Playground,Schools Nearby,Shopping Nearby,Sidewalks,Street Lights,Walking/Bike Paths
List AORCalgary

Location

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About Rainbow Falls

AI-generated summary

Rainbow Falls is a family-oriented lakeside community in Chestermere with a relaxed, suburban feel centred around scenic pond and pathway systems.

31 active listings with an average list price of $674,690
Homes are averaging 38 days on market, suggesting a measured pace of sales
Located just east of Calgary's city limits within the City of Chestermere
Housing
Predominantly detached single-family homes with some townhomes, many featuring larger lots typical of east Calgary's suburban developments.
Transit
Car-dependent with limited transit options; proximity to 17th Avenue SE and Stoney Trail supports easy commuting by vehicle.
Amenities
Residents enjoy nearby Chestermere Lake, local shops along Rainbow Road, and convenient access to East Hills Shopping Centre for major retail.
Who lives here
Primarily young and established families drawn by larger homes, good schools, and an outdoor lifestyle near the water.
Full Rainbow Falls community profile →

This neighbourhood summary was generated by AI for general orientation only. Verify details with the City of Calgary and your REALTOR® before making decisions.

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Listed by: Century 21 Bravo Realty — Jennifer Ashton.