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Home Communities Rainbow Falls 248 Rainbow Falls Way
$824,900 Active
248 Rainbow Falls Way · Chestermere · T1X 0S9
4 bd 3.0 ba 1,512 sqft $545/sqft Built 2015
MLS® A2315501 · Listed May 27, 2026
Listed by The Real Estate District — Cathy Tran
By the numbers

How this listing measures up

$/sqft $545
vs Rainbow Falls median +21% community avg $682K
Sqft per bedroom 378
Year built 2015
Garage 2 spaces
$/sqft distribution

Where this listing sits in Rainbow Falls

Of 30 active residential listings in Rainbow Falls, this property at $545/sqft sits in the $500–550 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 · $545
Other active listings This listing's price range This listing

About this property

Welcome to this beautifully maintained large bungalow where pride of ownership is evident throughout. Backing onto a peaceful scenic stream that leads toward Chestermere Lake, this home offers a rare combination of tranquility, space, and convenience. Featuring 4 bedrooms, over 2,900 sq ft of space between the main floor and basement, and an open-concept layout, the home is filled with natural light and showcases stunning vaulted ceilings, granite countertops, a beautiful wide curved staircase, and spacious living areas perfect for both everyday living and entertaining. The walkout basement adds incredible functionality and connection to the outdoors, while the oversized driveway provides ample parking. The poured concrete backyard creates a low-maintenance outdoor retreat ideal for relaxing, hosting guests, or enjoying the serene surroundings. The south-facing backyard also features a large garden space perfect for growing your own fruits and vegetables while enjoying all-day sunshine. Located in a beautiful setting close to pathways, water, parks, and amenities, this is a rare opportunity to own a truly well-cared-for home in one of Chestermere’s most desirable locations

Property details

Bedrooms4
Bathrooms3.0
StyleBungalow
HeatingForced Air
CoolingNone
FlooringCarpet,Hardwood
LevelsOne
BasementFull
Basement developmentFinished
Interior featuresGranite Counters,Kitchen Island,Vaulted Ceiling(s)
AppliancesDishwasher,Dryer,Microwave,Range,Range Hood,Refrigerator,Washer
InclusionsPlanters in the backyard, Shed in backyard
LaundryLaundry Room
Lot size5493.00 sqft
Frontage50.04 ft
Lot featuresBack Yard,Front Yard,Garden
Exterior featuresBalcony,Garden
FencingFenced
PatioBalcony(s)
Year built2015
Construction materialsStone,Vinyl Siding
RoofAsphalt Shingle
FoundationPoured Concrete
Parking featuresDouble Garage Attached,Driveway
Garage spaces2
Parking total5
Tax year2025
PossessionNegotiable
ZoningR-1
TitleFee Simple
RestrictionsNone Known
NeighbourhoodRainbow Falls
Community featuresGolf,Lake,Park,Pond,Schools 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: The Real Estate District — Cathy Tran.