$509,000
Est. payment $2,254/moCalculate yours
251 Lester Street 401, Waterloo, ON N2L 3W6
Waterloo, ON N2L 3W6
- 5 Beds
- 2 Baths
- 1,200 Sq Ft
Listing courtesy of ROYAL LEPAGE SIGNATURE REALTY MLS® X13170540
About this home
Incredible turnkey investment in the heart of Waterloo’s university district! This purpose-built 5-bedroom, 2-bathroom condo at 251 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 facilities, elevator access, and proximity to transit, shops, and various amenities.
Property details
Overview
- Property Type
- Condo Apartment
- Style
- Apartment
- For
- For Sale
- Status
- New
- Approximate Age
- 16-30
- Size
- 1,200 sqft
Interior
- Bedrooms
- 5
- Bathrooms
- 2
- Kitchens
- 1
- Basement
- None
Building & Systems
- Heating
- Fan Coil (Gas)
- Cooling
- Central Air
- Exterior
- Concrete
Lot & Parking
- Parking
- Underground garage
Financial
- Property Taxes
- $4,370 (2025)
- Condo Fee
- $802/mo
- Fee Includes
- Heat Included, Common Elements Included, Building Insurance Included, Water Included
- Pets
- Yes-with Restrictions
Location
- Cross Street
- University Ave W / Lester St
Listing
- MLS® Number
- X13170540
- Days on Market
- 146
- Listed On
- 2026-05-25
- Possession
- Flexible
- Listed By
- ROYAL LEPAGE SIGNATURE REALTY
Features
Interior
- Ventilation System
- Included
- Fridge, Stove, Hood Fan, Dishwasher
- Excluded
- Tenants Belongings
Mortgage calculator
Estimated mortgage payment
$2,254 per month
- Principal and interest
- $2,254
- Property tax
- $364
- Condo fees
- $802
- Estimated monthly cost
- $3,420
Your mortgage
- Mortgage amount
- $407,200
- Mortgage insurance
- Not needed
- Interest over 25 years
- $268,923
Cash to close
- Down payment
- $101,800
- Land transfer tax
- $6,655
- First-time buyer refund
- $0
- Sales tax on insurance (8%)
- $0
- Total, before legal fees
- $108,455
With less than 20% down, a 30-year amortization is available to first-time buyers and buyers of newly built homes.
Talk to me about financingEstimates only, not a mortgage offer or financial advice. Uses the Canadian fixed-rate convention (interest compounded twice a year), 2026 mortgage insurance premiums and Ontario land transfer tax. Your lender will confirm your actual rate and payment.
Location
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