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Property Type: TownhouseOwnership: Condominium
255 NORTHLAKE Drive Unit# 4
Waterloo, ON N2V1Z2
MLS® 40863677
$399,000
3 bed2.5 bath2 parking1,114 sqftBuilt 1988
Property Details
Property & Lot
- Sub-type
- Row / Townhouse
- Stories
- 2
MD
Ownership & Fees
- Property type
- Townhouse
- Ownership
- Condominium
- Condo / maintenance fee
- $500/mo
- Annual property tax
- $2,993.42
Maintenance Fee Includes
Management
Also included: Landscaping, Insurance, Parking
Interior
- Basement
- Finished, Full
Room Dimensions
| Room | Level | Dimensions |
|---|---|---|
| Utility room | Basement | 11'2'' x 18'4'' |
| Recreation room | Basement | 16'4'' x 18'1'' |
| Primary Bedroom | Second level | 9'9'' x 16'0'' |
| Bedroom | Second level | 9'11'' x 7'9'' |
| Bedroom | Second level | 13'6'' x 10'1'' |
| 4pc Bathroom | Second level | — |
| Living room | Main level | 10'4'' x 18'4'' |
| Kitchen | Main level | 9'11'' x 9'5'' |
| Foyer | Main level | 8'9'' x 8'7'' |
| Dining room | Main level | 9'4'' x 14'11'' |
| 2pc Bathroom | Main level | — |
Description
Welcome to 255 Northlake Drive, Unit 4! This well-loved and cared-for 3-bedroom townhouse condo is tucked into a quiet complex in Waterloo's desirable North Lakeshore neighborhood. Two parking spaces are a great bonus, including a covered carport, with visitor parking also available. The main floor has a practical, comfortable layout with a spacious living room, a good-sized dining area, and a bright kitchen with plenty of counter and cupboard space. Sliding doors lead directly to the rear deck and backyard area, perfect for the BBQ or simply enjoying some time outside. A convenient powder room completes the main floor. Upstairs are three bedrooms and a full family bathroom, giving you plenty of room for family, guests or a home office. The finished basement adds valuable extra living space with a large recreation room and gas fireplace. The oversized utility room also houses the laundry, a high-efficiency York natural gas furnace installed in 2025, water softener and drinking water purification system, while still providing lots of additional storage. The location is hard to beat. You're close to reputable schools, parks, trails, shopping, restaurants, grocery stores, public transit and the LRT. Conestoga Mall and the St. Jacobs Market District are nearby, along with quick access to the expressway and major commuter routes. With 3 bedrooms, 1.5 bathrooms, a finished basement, rear deck, two parking spaces and low-maintenance living, there is plenty of practical space here in a convenient and sought-after Waterloo location. (id:63161)
Listing Information
- MLS®
- 40863677
- Data last synced
- October 29, 2026
Chestnut Park Realty Southwestern Ontario Limited
Data source: CREA DDF.
CREA DDF® ListingListing Brokerage: Chestnut Park Realty Southwestern Ontario Limited
MLS® Number: 40863677
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
$358/sqft
Building average
—
No other active listings in this building
442 - Lakeshore North average
$271/sqft
4 active listing(s)
Parking: 2 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: 5.0% ($19,950) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Net mortgage (loan + CMHC insurance)$319,200.00
Periodic payment — Principal & Interest (monthly)$2,059.37
Additional monthly expenses (condo fees, tax, utilities, etc.)$805.45
Total monthly cost$2,864.82
Interest paid over 5-yr term$91,483.64
Balance at end of term$287,121.43
Rates based on Bank of Canada benchmark data.
Financial Summary
Minimum down payment$19,950
Stress test qualifying rate8.19%
Payment you must qualify for$2,939.06
Cash Needed at Closing
Minimum down payment$19,950
Estimated Land Transfer Tax (LTT)$4,460
Legal / closing costs (typical estimate)$1,500
Total cash needed$25,910
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.
