24 Midland Drive 507, Kitchener

$279,900
24 Midland Drive 507

$279,900

New
22d
Co-op Apartment1 Storey/Apt

24 Midland Drive 507, Kitchener

Total Monthly Obligation $2,569

Beds
2
Baths
1
Park
1
Sqft
900-999
DOM
22d
Score
20
Yield
10.1%
Cash on Cash
-1.5%
Cap Rate
4.3%
5Y IRR
14.4%
10Y IRR
13.7%
Property Type-Co-op Apartment
MLS® Number-X13851630
Beds-2
Bathrooms-1
Size-900-999 sqft
Listed on site-Oct 1, 2026
Style-1 Storey/Apt
Building Type-Co-op Apartment
Maintenance-$1,240.38/mo
Locker-Owned
Parking-1 - Underground
Basement-Full
Heating-Radiant (Gas)
Brokerage-RE/MAX Solid Gold Realty (II) Ltd
Cooling-None
Laundry-No
Fireplace-No
Pool-None
Exterior-Concrete, Metal/Steel Siding
Possession-Immediate
Title-Residential Condo & Other

No agent assigned

An exceptional investment in a sought-after community, ideally located beside the vibrant Stanley Park Mall. This well-maintained cooperative building-currently transitioning to full condominium status-offers excellent value, strong amenities, and long-term growth potential. This bright front corner suite features wall-to-wall windows, an enclosed patio/balcony, and generous room sizes. Monthly fees are fully inclusive, covering HEAT,HYDRO, WATER, and PROPERTY TAXES, providing peace of mind and predictable budgeting. Residents enjoy a variety of amenities, including an outdoor pool and patio area, party room, games room, exercise room, underground parking, and a storage locker. The location is unbeatable for walk ability, transit, and everyday convenience. With the co-op actively converting to condominium status, this unit represents a smart opportunity for future appreciation. As part of the conversion, units cannot be mortgaged until the process is complete, and buyers will provide the required consent. The inclusive fees and transitional phase offer exceptional value for the square footage. The unit has been freshly painted new flooring, new closet doors , refreshed kitchen and bath . Don't miss this rare opportunity to secure a spacious corner suite in a building with strong amenities, inclusive fees, and exciting future potential. Move in today and invest in tomorrow.

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$
$
(utilities, internet...)
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%
%

Closing Costs

Mortgage Amount
$223,920
Land Transfer Taxes$2,674
Legal Fees (Est.)
$
Total cash required for closing$60,154

Total Monthly Obligation

$2,569/mo
Mortgage $1,129
Monthly Loss $2,272
Principal$297
Interest$832
Condo Fees$1,240
Home Insurance$50
Variable Costs$150
Returns
Weight: 25%
Cap Rate
2.9%18
Cash-on-Cash
-9.0%1
5-Year IRR
9.4%31
10-Year IRR
10.7%
Returns Index
16.3/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
20/ 100
Avoid•Pass

Strategy: Buy & Hold — Weights: CFI 35% · RI 25%
RKI 20% · GI 20%

Assumptions & Inputs
$/mo
%
$
yr
%
Cash Flow
Weight: 35%
Gross Rent
$28,260/yr
NOI
$8,149/yr
Net Cash Flow
-$450/mo
Cash Margin
-19.1%0
Cash Flow Index
0.1/ 100
Risk Profile
Weight: 20%
DSCR
0.607
LTV Ratio
80.0%18
Vacancy Buffer
3.7 mo64
Risk Index
29.7/ 100

*This analysis is independently generated NOT provided by TREB or CREA.

Comparables

Properties near 24 Midland Drive 507

Time

Comparables are calculated within a 3km radius based on properties sold or leased within the past 6 months. This helps you understand the current market value and potential rental yield with high precision.

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Data last updated within the past 24 hours.