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Property Type: Detached HouseOwnership: Freehold
217 MAYFIELD Avenue
Waterloo, ON N2J3S6
MLS® 40860514
$849,900
5 bed2 bath5 parking1,777 sqftBuilt 1962
Property Details
Property & Lot
- Sub-type
- House
- Style
- Bungalow
- Stories
- 1
- Frontage
- 60 feet
SR2/R1
Ownership & Fees
- Property type
- Detached House
- Ownership
- Freehold
- Annual property tax
- $4,466
Interior
- Basement
- Finished, Full
- Heating
- Forced air, Natural gas
- Cooling / A/C
- Central air conditioning
Room Dimensions
| Room | Level | Dimensions |
|---|---|---|
| 3pc Bathroom | Basement | 5'9'' x 7'7'' |
| Living room | Basement | 12'1'' x 14'3'' |
| Office | Basement | 10'11'' x 10'7'' |
| Bedroom | Basement | 11'2'' x 11'4'' |
| Primary Bedroom | Basement | 7'5'' x 13'8'' |
| Kitchen | Basement | 12'4'' x 11'10'' |
| 3pc Bathroom | Main level | 4'10'' x 9'7'' |
| Bedroom | Main level | 9'6'' x 13'2'' |
| Bedroom | Main level | 9'7'' x 10'1'' |
| Primary Bedroom | Main level | 13'0'' x 10'11'' |
| Eat in kitchen | Main level | 7'8'' x 17'4'' |
| Dining room | Main level | 4'6'' x 8'10'' |
| Living room | Main level | 11'5'' x 19'10'' |
Description
Two separate homes under one roof, both rented, both licensed with the City of Waterloo, and a lot underneath them worth a longer look. The main floor has three bedrooms, a full kitchen, a three-piece bath, and a walkout to the deck over the back yard. Downstairs is a second complete home with two bedrooms, a large separate office, its own kitchen, bath, laundry and private entrance, so the two households never have to cross paths. The house is solid brick on a poured concrete foundation with shingles done in 2016, a gas furnace, central air, water softener and sump pump. There is a detached garage and room for four more cars in the drive. The land is the part most people miss. Just over sixty feet of frontage on close to 7,500 square feet, facing north, minutes from both universities and a four-minute walk to the bus at Lincoln and Mayfield. Waterloo changed its rules in December 2024 about what low-density residential land is allowed to become, and available is a full concept package for a larger multi-unit building here, with site plan, floor plans and mechanical drawings. Lincoln Heights and Bluevale catchment, with Roselea Park on the same street. Collect the rent while you look into the rest. (id:63159)
Listing Information
- MLS®
- 40860514
- Data last synced
- September 29, 2026
THE AGENCY
Data source: CREA DDF.
CREA DDF® ListingListing Brokerage: THE AGENCY
MLS® Number: 40860514
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
$478/sqft
Building average
—
No other active listings in this building
116 - Glenridge/Lincoln Heights average
$391/sqft
16 active listing(s)
Parking: 5 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: Guelph
5°C
—
Humidity 95%
Wind NNE calm km/h
Tonight
6°
Thursday
19°
Thursday night
6°
Friday
12°
Friday night
-2°
Saturday
14°
Source: Environment and Climate Change Canada.
Population
126,356
(2021 Census)
+15.5% since 2016
Density:
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Mortgage & Ownership Cost Calculator
Minimum required: 7.1% ($59,990) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Net mortgage (loan + CMHC insurance)$679,920.00
Periodic payment — Principal & Interest (monthly)$4,386.61
Additional monthly expenses (condo fees, tax, utilities, etc.)$461.17
Total monthly cost$4,847.78
Interest paid over 5-yr term$194,867.03
Balance at end of term$611,590.24
Rates based on Bank of Canada benchmark data.
Financial Summary
Minimum down payment$59,990
Stress test qualifying rate8.19%
Payment you must qualify for$6,124.76
Cash Needed at Closing
Minimum down payment$59,990
Estimated Land Transfer Tax (LTT)$13,473
Legal / closing costs (typical estimate)$1,500
Total cash needed$74,963
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.
