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Property Type: Condo / ApartmentOwnership: Condominium
525 NEW DUNDEE Road Unit# 516
Kitchener, ON N2P0K8
MLS® 40872092
12
Walk Score
27
Transit
35
Bike
$394,900
1 bed1 bath1 parking654 sqftBuilt 2023
12
Walk Score
27
Transit
35
Bike
Amenities
Gym
Also listed: Party Room
Property Details
Property & Lot
- Sub-type
- Apartment
- Style
- Other
- Stories
- 1
COM3 NHC1
Ownership & Fees
- Property type
- Condo / Apartment
- Ownership
- Condominium
- Condo / maintenance fee
- $316/mo
- Annual property tax
- $3,324
Interior
- Basement
- None
- Heating
- Forced air, Electric
- Cooling / A/C
- Central air conditioning
Room Dimensions
| Room | Level | Dimensions |
|---|---|---|
| 4pc Bathroom | Main level | — |
| Kitchen/Dining room | Main level | 13'5'' x 11'5'' |
| Living room | Main level | 12'5'' x 12'4'' |
| Bedroom | Main level | 12'7'' x 10'1'' |
Description
Welcome to Unit 516 at 525 New Dundee Road in Kitchener, located in The Flats at Rainbow Lake in desirable Doon South. This bright and modern 1-bedroom, 1-bathroom condo features a functional open-concept layout with combined kitchen, dining, and living areas, modern finishes, stainless steel appliances, and in-suite laundry. Large windows provide plenty of natural light, while the private balcony offers additional outdoor living space. Building amenities include a fitness centre, sauna, library, party room, social lounge, pet wash station, and a beautifully designed outdoor patio with BBQ area. Located near Rainbow Lake, walking trails, parks, and green spaces, with convenient access to Highway 401, Conestoga College, shopping, restaurants, public transit, and everyday amenities. A great opportunity for a first-time buyer, investor, professional, or downsizer looking for modern, low-maintenance living in Kitchener. (id:63159)
Listing Information
- MLS®
- 40872092
- Data last synced
- October 17, 2026
HOMELIFE MIRACLE REALTY LTD.
Data source: CREA DDF.
CREA DDF® ListingListing Brokerage: HOMELIFE MIRACLE REALTY LTD.
MLS® Number: 40872092
Listing data is sourced from CREA DDF®, the Canadian Real Estate Association (CREA) Data Distribution Facility. Listing information is deemed reliable but is not guaranteed accurate by CREA or the listing brokerage. Data provided courtesy of Cornerstone Association of REALTORS®.
Values & Trends
This listing
$604/sqft
Building average
—
No other active listings in this building
335 - Pioneer Park/Doon/Wyldwoods average
$464/sqft
22 active listing(s)
Parking: 1 stall(s) includedStorage locker: Not indicated
Per-stall/locker dollar values aren't itemized in our data source — shown as included/not indicated only, not a fabricated estimate. $/sqft averages are computed live from other active listings, not a third-party model.
Location Insights
Weather
Nearest station: Kitchener-Waterloo
4°C
Mist
Humidity 97%
Wind N 4 km/h
Tonight
6°
Thursday
19°
Thursday night
6°
Friday
12°
Friday night
-2°
Saturday
14°
Source: Environment and Climate Change Canada.
Population
256,885
(2021 Census)
+10.1% since 2016
Similar Listings Nearby
Similar active properties nearby based on property type, price, and size.
Mortgage & Ownership Cost Calculator
Minimum required: 5.0% ($19,745) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Net mortgage (loan + CMHC insurance)$315,920.00
Periodic payment — Principal & Interest (monthly)$2,038.21
Additional monthly expenses (condo fees, tax, utilities, etc.)$625.74
Total monthly cost$2,663.95
Interest paid over 5-yr term$90,543.58
Balance at end of term$284,171.06
Rates based on Bank of Canada benchmark data.
Financial Summary
Minimum down payment$19,745
Stress test qualifying rate8.19%
Payment you must qualify for$2,908.85
Cash Needed at Closing
Minimum down payment$19,745
Estimated Land Transfer Tax (LTT)$4,399
Legal / closing costs (typical estimate)$1,500
Total cash needed$25,644
Minimum down payment: 5% on the first $500,000, 10% on the portion up to $1.5M, 20% at/above $1.5M. Stress test: OSFI's minimum qualifying rate, the greater of contract rate + 2% or 5.25% — this is what lenders require you to qualify at, not what you'll actually pay. Closing costs are a typical-range estimate, not a quote — actual legal fees vary. Land Transfer Tax is the Ontario provincial schedule, before any first-time buyer refund; only the City of Toronto charges a municipal land transfer tax on top, so none applies in the areas this site covers (Ontario Ministry of Finance, ontario.ca/document/land-transfer-tax, as of October 28, 2026). Verify all figures with a mortgage broker and lawyer before relying on them.
