By the numbers
How this listing measures up
$/sqft
$298
vs Rainbow Falls median
-39%
community avg $682K
Sqft per bedroom
697
Year built
2007
Annual taxes
$2,284
2025
Garage
2 spaces
$/sqft distribution
Where this listing sits in Rainbow Falls
Of 30 active residential listings in Rainbow Falls,
this property at $298/sqft
sits in the $250–300 range.
Other active listings
This listing's price range
This listing
About this property
Welcome to 320 Rainbow Falls Drive, a well-maintained, air-conditioned townhome with a fully finished walkout basement and double detached garage in a mature, highly convenient location. Offering 2 bedrooms, each with its own 4-piece ensuite, plus a full bathroom in the basement and a half bath on the main floor, this fully developed home delivers excellent value and functionality. Step inside to 9 ft ceilings throughout the main level and a spacious living room that flows into the sun-filled, southwest-facing kitchen and dining area. The kitchen features an island, pantry, and stainless steel appliances, with access to the balcony overlooking the backyard with no neighbours directly behind. Upstairs, you’ll find two generously sized bedrooms with private ensuite bathrooms, including a primary bedroom with a walk-in closet. The fully developed walkout basement adds even more flexible living space with a massive rec room, full bathroom, spacious laundry room, and direct access to the backyard leading to the double detached garage. Facing green space and located just steps from the Chestermere Business Park, this home is walking distance to grocery, pharmacy, restaurants, gas, schools, parks, pathways, and close to major routes in and out of Chestermere.
Property details
| Bedrooms | 2 |
| Bathrooms | 4.0 |
| Style | 2 Storey |
| Heating | Forced Air |
| Cooling | Central Air |
| Flooring | Carpet,Laminate,Linoleum |
| Levels | Two |
| Basement | Full |
| Basement development | Finished |
| Interior features | Central Vacuum,High Ceilings,Kitchen Island,No Animal Home,No Smoking Home,Pantry,Storage,Vinyl Windows,Walk-In Closet(s) |
| Appliances | Central Air Conditioner,Dishwasher,Dryer,Electric Stove,Microwave Hood Fan,Refrigerator,Washer,Window Coverings |
| Inclusions | N/A |
| Laundry | In Basement,Laundry Room,Lower Level |
| Lot features | Back Lane,Back Yard,Few Trees,Landscaped,Lawn,No Neighbours Behind |
| Exterior features | Balcony,Private Entrance,Private Yard |
| Fencing | None |
| Patio | Balcony(s),Patio |
| Year built | 2007 |
| Construction materials | Concrete,Wood Frame |
| Roof | Asphalt Shingle |
| Foundation | Poured Concrete |
| Parking features | Double Garage Detached |
| Garage spaces | 2 |
| Parking total | 2 |
| Annual taxes | $2,284 |
| Tax year | 2025 |
| Possession | 15 Days / Neg,30 Days / Neg,Immediate |
| Zoning | R-3 |
| Title | Fee Simple |
| Restrictions | Pet Restrictions or Board approval Required,Pets Allowed,Utility Right Of Way |
| Neighbourhood | Rainbow Falls |
| Community features | Fishing,Lake,Park,Playground,Pond,Schools Nearby,Shopping Nearby,Sidewalks,Street Lights,Walking/Bike Paths |
| List AOR | Calgary |
Location
Sold comparables in Rainbow Falls
22 recent sales in Rainbow Falls
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Sign up to see sold dataAbout Rainbow Falls
AI-generated summaryRainbow 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.
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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