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Property Type: Condo / ApartmentOwnership: CondominiumRECENTLY LISTED
318 SPRUCE Street Unit# 1202
Waterloo, ON N2L3H6
MLS® 40872985
87
Walk Score
64
Transit
76
Bike
$499,900
3 bed2 bath1 parking957 sqftBuilt 2016
87
Walk Score
64
Transit
76
Bike
Amenities
Gym
Property Details
Property & Lot
- Sub-type
- Apartment
- Style
- Other
- Stories
- 1
- Frontage
- 0 feet
GR
Ownership & Fees
- Property type
- Condo / Apartment
- Ownership
- Condominium
- Condo / maintenance fee
- $743/mo
- Annual property tax
- $4,685
Maintenance Fee Includes
WaterHeat
Also included: Insurance, Parking
Room Dimensions
| Room | Level | Dimensions |
|---|---|---|
| 3pc Bathroom | Main level | — |
| Bedroom | Main level | 10'2'' x 11'7'' |
| 4pc Bathroom | Main level | — |
| Primary Bedroom | Main level | 9'6'' x 12'6'' |
| Kitchen | Main level | 8'2'' x 9'3'' |
| Bedroom | Main level | 10'0'' x 16'2'' |
Description
Turnkey investment in Waterloo’s University District! Unit 1202 at 318 Spruce Street is a 3-bedroom, 2-bathroom condo with tenants already in place, so a buyer takes over an existing lease rather than starting from a vacant unit. Located steps from the University of Waterloo and Wilfrid Laurier University, this suite sits in a well-known rental area of Kitchener-Waterloo that is popular with students and young professionals. The suite features 3 bedrooms, two full bathrooms, a kitchen with granite countertops and stainless steel appliances, and in-suite laundry. It’s a practical layout for a rental, with a bedroom count and in-suite laundry that tenants in this area look for. Close to transit, shopping, restaurants and everything uptown Waterloo has to offer. Whether you’re adding to your portfolio or buying your first investment property, this one is worth a look. (id:63161)
Listing Information
- MLS®
- 40872985
- Data last synced
- October 24, 2026
Real Broker Ontario Ltd.
Data source: CREA DDF.
CREA DDF® ListingListing Brokerage: Real Broker Ontario Ltd.
MLS® Number: 40872985
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
$522/sqft
Building average
—
No other active listings in this building
417 - Beechwood/University average
$509/sqft
51 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: 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% ($24,995) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Net mortgage (loan + CMHC insurance)$399,920.00
Periodic payment — Principal & Interest (monthly)$2,580.15
Additional monthly expenses (condo fees, tax, utilities, etc.)$1,181.61
Total monthly cost$3,761.75
Interest paid over 5-yr term$114,618.22
Balance at end of term$359,729.33
Rates based on Bank of Canada benchmark data.
Financial Summary
Minimum down payment$24,995
Stress test qualifying rate8.19%
Payment you must qualify for$3,682.29
Cash Needed at Closing
Minimum down payment$24,995
Estimated Land Transfer Tax (LTT)$6,473
Legal / closing costs (typical estimate)$1,500
Total cash needed$32,968
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.
