$509,000

For sale

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#101 253 Lester Street, Waterloo - Single Family for Sale

#101 253 Lester Street, Waterloo, Ontario, N2L3W6

5 beds2 baths0 parking condo fee

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Investment analysis

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$509,000

Waterloo

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Description

Incredible turnkey investment in the heart of Waterloo's university district! This purpose-built 5-bedroom, 2-bathroom condo at 253 Lester St has the potential to generate over $49,000/year in gross rental income with positive monthly cash flow. Just steps to Wilfrid Laurier University and the University of Waterloo, this high-demand location ensures consistent tenancy. Features include a spacious open-concept living area, two full baths, included furniture, and professional property management options for a completely hands-off experience. Condo fees include heat and water, and the building offers parking, shared laundry, elevator access, and proximity to transit, shops, and amenities. (id:66096)

Property Details

MLS®: X13575452
Property Type: Single Family
Bedrooms: 5
Beds (above / below): 5 above · 0 below
Bathrooms: 2
Parking: 0
Basement: None
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: No Garage
Condo Fee: $802/mo
Fee Includes: Common Area Maintenance, Heat, Water, Insurance
Ownership: Condo/Strata
Property Tax: $3,950/yr
Listed: 111 days ago

Rooms

Main level

Living room: 4.26 x 2.74 meters
Dining room: 4.26 x 2.74 meters
Kitchen: 3.65 x 3.35 meters
Bedroom: 3.96 x 2.43 meters
Bedroom 2: 3.35 x 2.43 meters
Bedroom 3: 3.04 x 2.74 meters
Bedroom 4: 3.35 x 2.43 meters
Bedroom 5: 3.65 x 2.43 meters
Bathroom: 1.82 x 1.21 meters
Bathroom: 1.21 x 1.21 meters

Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.

Market Timing

Days on market

111d

Waterloo listings, avg age

67d

List price

$509K

Homes here sell faster than most markets

Sold homes in this market spent an average of 35 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell close to asking price

Homes in this market sold for an average of 98.7 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Area context

Neighbourhood profile (N2L)

This home lists at $509,000, about 7.3× the local median household income of $69,500.

Carrying it typically needs a household income of about $99,426 (20% down, 25-yr amortization, stress-tested) — roughly 43% above the area median.

Median household income: $69,500
Population: 37,953
Median age: 29.8
Owner / renter: 37% / 63%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA N2L)

$509,000

For sale

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Full Cost Breakdown

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Down Payment5.09% · $25,900

Min 5.09%50%

Mortgage payment$2,678/mo

↳ CMHC premium ($19,324 capitalized)

Property tax (est.)$329/mo

Condo fee$802/mo

Total monthly$3,810

Cash Needed to Close

Down payment (5.09%)$25,900

Land transfer tax$6,655

Est. closing costs$4,027

Total cash needed$36,582

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Rates via our partner mortgage brokers at iShopRates · Estimates only, not financial advice

#101 253 Lester Street, Waterloo - Single Family for Sale

Rental cashflow calculator

Description

Property Details

Rooms

Features

Market Timing

Location

Nearby Places

Neighbourhood profile (N2L)

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