Unit 301, 261 Lester Street
Waterloo (Downtown Waterloo), ON N2L 3W6
261 Lester5 storeys, 20 suites, built 2017- 5Bedrooms
- 2Bathrooms
- 0Parking
- 1200–1399Sq Ft
- $3,892Tax
- $922/moCondo Fee
Estimated Value:$505,275See Free Estimate Report
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Free Home EvaluationHow Much Is My Home Worth?Homes for Sale NearbySale & Price History for Unit 301, 261 Lester Street, Waterloo, Downtown Waterloo
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About Unit 301, 261 Lester Street, Waterloo, Downtown Waterloo
Summarized Description
- Turnkey investment in Waterloo's university district.
- Potential for $50,000/year rental income.
- Close to Wilfrid Laurier and University of Waterloo.
- Spacious open-concept living area.
- Includes furniture for easy move-in.
- Professional management for hassle-free ownership.
- Condo fees cover heat and water.
Room #1 - $900, ending Aug 25, 2026, #2 - $750, ending Apr 30, 2026, #3 - $750, ending Aug 26, 2026, #4 - $750, ending Apr 30, 2026, #5 - $750, ending Apr 30, 2026. Incredible turnkey investment in the heart of Waterloo's university district! This purpose-built 5-bedroom, 2-bathroom condo at 261 Lester St has the potential to generate close to $50,000/year in gross rental income with positive monthly cash flow. Just steps to Wilfrid Laurier University and the University of Waterloo, this high-demand location ensures consistent tenancy. Features include a spacious open-concept living area, two full baths, included furniture, and professional property management options for a completely hands-off experience. Condo fees include heat and water, and the building offers parking, shared laundry, elevator access, and proximity to transit, shops, and amenities. The seller will provide one year of professional property management or offer the cash value as part of the sale. Photos are virtually decluttered.
Key Facts & Features
Property Costs
- Annual Property Tax Amount
- $3,892
- Land Transfer Tax Fee
- $6,855
Condo/Maintenance Fee
- Maintenance Fee
- $922 /month
Included In Maintenance Fee
- CAC Included
- Common Elements Included
- Heat Included
- Building Insurance Included
- Water Included
- Basement Type
- None
Interior Features
- Pets Permitted
- Yes-with Restrictions
- Laundry Features
- Coin Operated, In Building
- Laundry Level
- Main Level
- Interior Extras
- Ventilation System
- Fireplace/Stove
- No
- Elevator
- No
Exterior Features
- Balcony
- None
Building
- Building Type
- Condo Apartment
- Building Style
- Apartment
- Approx Age
- 16-30
- Condo Corp Number
- 630
Construction
- Exposure
- East
- Exterior Finish
- Brick
- Special Designation
- Unknown
Inclusions
- Inclusions
- Fridge, Stove, Hood Fan, B/I Dishwasher
Exclusions
- Exclusions
- Tenants Belongings
Parking & Garages
- Garage Type
- None
- Garage Spaces
- 0
- Parking Type
- None
- Parking Spaces
- 0
- Total Garage And Parking Spaces
- 0
Lockers
- Locker Type
- Ensuite+Common
Heating & Cooling
- Heat Source
- Gas
- Heat Type
- Forced Air
- Air Conditioning
- Central Air
- Bedrooms
- 5
- Washrooms
- 2
- Kitchens
- 1
Room sizes
- Living Room—Main level
- Kitchen—Main level
- Bedroom—Main level
- Bedroom 2—Main level
- Bedroom 3—Main level
- Bedroom 4—Main level
- Bedroom 5—Main level
Washrooms
- 4-piece, Main
- 4-piece, Main
- Area
- Waterloo
- Municipality
- Waterloo
- Neighbourhood
- Downtown Waterloo
- Main cross streets
- University Ave W & Lester St
- Directions
- University Ave W & Lester St
- MLS® number
- X12725196
- Data source
- Toronto Regional Real Estate Board
- Status change
- 2026-05-11
- Listed on
- 2026-01-23
- Days on market
- 108 days
- Possession type
- Flexible
- Co-op commission
- 2.5% + HST
- Seller
- Listed by
- ROYAL LEPAGE SIGNATURE REALTY
Home Market Value
Current home valuation for Unit 301, 261 Lester Street, Waterloo, Downtown Waterloo, Waterloo, ON. Listed for $519,000
HOMEH Estimate
$505,275
Estimated Sales Range
$434,655 - $575,895
HOMEH Estimate for Unit 301, 261 Lester Street, Waterloo, Downtown Waterloo
Calculated with a real agent's CMA method — 45+ years of experience, codified. Not an AI guess.
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Mortgage Payment Calculator
Compare up to 4 down payment scenarios
5% on first $500K + 10% on $19,000 over $500K
$26,900
| Scenario 1 | Scenario 2 | Scenario 3 | Scenario 4 | |
|---|---|---|---|---|
−Down payment | % $ | % $ | % $ | % $ |
+CMHC insurance | $19,680 | $14,480 | $12,352 | $0 |
=Total mortgage | $511,692 | $481,580 | $453,502 | $415,200 |
Amortization | ||||
Mortgage rate | % | % | % | % |
| Payment frequency | ||||
=Mortgage payment | $2,498monthly | $2,351monthly | $2,214monthly | $2,027monthly |
Land Transfer Tax
$6,855
$6,855
Around this home
Data provided by OpenStreetMap & Fraser Institute School Rankings
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