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| Heat Included | |
| Building Insurance Included | |
| Parking Included | |
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511 - 308 Lester Street
, Waterloo
$285,000
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.
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| Type | Condo Apartment |
| Style | Apartment |
| Approx. Age | 6-10 |
| Size | 0-499 sq. ft. |
| Maintenance Fees | $319 |
| Locker | None |
| Balcony | Open |
| Exposure | West |
| Parking Type | Surface |
| Parking Spaces | 0 |
| Parking Features | Surface |
| Property Tax | $2,521 |
| mls© Number | X13751246 |
| Listed By | CITYSCAPE REAL ESTATE LTD. |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
Could you afford this home?
What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $1,459
- Property tax
- $210
- Heat allowance
- $150
- Condo fees, half counted
- $160
- Housing costs
- $1,978 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$61,000
gross annual household income
- Payment at 4%
- $1,199 / mo
- Cash down
- $57,000
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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