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Listed 1 month ago

101 - 251 Lester Street

, Waterloo

$509,000

Condo Apartment |
5 | 2 | 0 | 0
About this home

Freshly Painted Entire Unit (Walls, Ceilings, Trim and Doors), All Six Brand NewRoller Blinds Installed & New Kitchen Countertop, & Professionally Cleaned.Exceptional investment opportunity in Waterloo's highly sought-after university area.This purpose-built condominium features 5 bedrooms and 2 full bathrooms, offering anattractive option for investors seeking strong rental income potential. Situatedwithin walking distance of both Wilfrid Laurier University and the University ofWaterloo, the property benefits from a location that consistently attracts studenttenants. The unit boasts a functional open-concept layout with a spacious livingarea, 5 well-proportioned bedrooms, and 2 full bathrooms. Included furnishingsprovide added convenience, while optional professional management services makeownership easy for investors looking for a low-maintenance rental property. Condofees cover heat and water, helping to simplify monthly expenses. Residents also enjoyaccess to building amenities such as parking, elevator service, and shared laundryfacilities. With nearby transit routes, shopping, dining, and everyday conveniences,this property offers both comfort and accessibility in one of Waterloo's strongestrental markets.

Extras

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Contact Sell with Strategy.

Milad Momtaz Azad
Milad Momtaz Azad
(647) 510-8858
Julian Kashani
Julian Kashani
(416) 837-7775
TypeCondo Apartment
StyleApartment
Approx. AgeNot available
Size1200-1399 sq. ft.
Maintenance Fees$802
LockerNone
BalconyNone
ExposureEast
Parking TypeNone
Parking Spaces0
Parking FeaturesUnderground
Property Tax$400
mls© NumberX13613582
Listed ByROYAL LEPAGE SIGNATURE REALTY
Heat Included
Building Insurance Included
Water Included

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

Could you afford this home?

What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$2,605
Property tax
$33
Heat allowance
$150
Condo fees, half counted
$401
Housing costs
$3,190 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $101,800
25-yr amortization

Income needed

$98,000

gross annual household income

Payment at 4%
$2,142 / mo
Cash down
$101,800

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

Values and trends

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