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Property Type: Condo / ApartmentOwnership: Condominium
511 - 308 LESTER STREET
Waterloo, ON N2L3W7
MLS® X13751246
$285,000
1 bed1 bath0 parking
Amenities
GymVisitor Parking
Property Details
Property & Lot
- Sub-type
- Apartment
RN-8
Ownership & Fees
- Property type
- Condo / Apartment
- Ownership
- Condominium
- Condo / maintenance fee
- $319/mo
- Annual property tax
- $2,520.78 (2026)
Maintenance Fee Includes
WaterHeat
Also included: Common Area Maintenance, Insurance, Parking
Interior
- Basement
- None
- Heating
- Forced air, Other
Room Dimensions
| Room | Level | Dimensions |
|---|---|---|
| Kitchen | Main level | — |
| Dining room | Main level | — |
| Living room | Main level | — |
| Primary Bedroom | Main level | — |
Description
Welcome to a prime parent-owner opportunity in Waterloo's coveted university district. This stylish 1-bedroom, 1-bathroom condo is perfectly positioned for families planning ahead: currently tenanted until August 27, 2027, it offers immediate rental income while you prepare for your child's arrival at the UW or WLU in September 2027. Start collecting rent now, then transitioning seamlessly to a safe, modern, independent living space for your child next September - all while building equity in one of Ontario's most resilient real estate markets. Located just a 10-minute walk from both UW and WLU lecture halls and steps from the UW LRT Station, this unit eliminates commute stress and places your child at the heart of campus life. Inside, enjoy premium finishes including granite countertops, stainless-steel appliances, in-suite laundry, high ceilings, modern neutral tones, laminate flooring throughout, a spacious bedroom with large closet, and a private balcony with great views. Building amenities are designed for student success and comfort, with the included fibre-optic internet service, on-site fitness facility, social lounge, rooftop terrace, secure bike storage, and professional on-site management. Low condo fees cover most essentials (all except hydro), and the unit comes fully furnished - including all appliances, window coverings, and furniture - making it truly turnkey. Lock in today's price, avoid the uncertainty of unreliable roommates or subpar rentals, and give your child a clean, modern, and secured environment where they can thrive academically. With parks, shopping, dining, and transit all within walking distance, this unit delivers everything a student needs, and everything a parent wants. Don't miss this rare chance to safeguard your child's future and your family's financial advantage in one of Waterloo's highest-demand student housing markets. This isn't just an investment; it's a smart family strategy. (id:63159)
Listing Information
- MLS®
- X13751246
- Tax assessment year
- 2026
- Data last synced
- September 15, 2026
CITYSCAPE REAL ESTATE LTD.
Data source: CREA DDF.
CREA DDF® ListingListing Brokerage: CITYSCAPE REAL ESTATE LTD.
MLS® Number: X13751246
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 Toronto Regional Real Estate Board.
Values & Trends
This listing
—
Building average
—
No other active listings in this building
Waterloo average
$476/sqft
185 active listing(s)
Parking: Not indicatedStorage 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% ($14,250) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Net mortgage (loan + CMHC insurance)$228,000.00
Periodic payment — Principal & Interest (monthly)$1,470.98
Additional monthly expenses (condo fees, tax, utilities, etc.)$529.15
Total monthly cost$2,000.12
Interest paid over 5-yr term$65,345.46
Balance at end of term$205,086.74
Rates based on Bank of Canada benchmark data.
Financial Summary
Minimum down payment$14,250
Stress test qualifying rate8.19%
Payment you must qualify for$2,099.33
Cash Needed at Closing
Minimum down payment$14,250
Estimated Land Transfer Tax (LTT)$2,750
Legal / closing costs (typical estimate)$1,500
Total cash needed$18,500
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.
