271 Lester Street 301, Waterloo

$545,900
271 Lester Street 301

$545,900

New
9d
Condo ApartmentApartment

271 Lester Street 301, Waterloo

Total Monthly Obligation $3,423

Beds
5
Baths
2
Park
1
Sqft
1200-1399
DOM
9d
Score
32
Yield
8.9%
Cash on Cash
7.7%
Cap Rate
6.2%
5Y IRR
21.8%
10Y IRR
19.7%
Property Type-Condo Apartment
MLS® Number-X14081834
Beds-5
Bathrooms-2
Size-1200-1399 sqft
Listed on site-Oct 14, 2026
Style-Apartment
Building Type-Condo Apartment
Taxes-$3,891 (2026)
Maintenance-$696.71/mo
Locker-None
Parking-1 - Surface
Basement-None
Heating-Forced Air (Gas)
Brokerage-RE/MAX HALLMARK REALTY LTD.
Cooling-Central Air
Laundry-No
Fireplace-No
Pool-None
Exterior-Brick Veneer, Concrete
Possession-Flexible
Title-Residential Condo & Other

No agent assigned

Fully tenanted five-bedroom condo steps from both the University of Waterloo and Wilfrid Laurier University - a turnkey investment generating income from day one. All five rooms are currently leased at $4,550 per month in gross rent, so you step into immediate, predictable cash flow with no lease-up period. The economics are clean and the margins protected: heat, water and one owned parking space are included in the monthly condo fee, tenants pay their own hydro, and as a condo you avoid the roof, exterior, and grounds maintenance that erode returns on a student-rental house - keeping management focused on the tenants alone. The roughly 1,355 square foot layout offers five well-proportioned bedrooms, an upgraded kitchen, and two full bathrooms, with gas forced-air heat, central air conditioning, elevator, and on-site laundry. It comes furnished, so the unit stays rent-ready between terms. The owned parking space is a rarity here, where most units come with none, and adds a second income lever or a standout perk that keeps rooms easy to fill. Location drives the demand: ION light rail is about a ten minute walk at both the Laurier-Waterloo Park and University of Waterloo stations, University Shops Plaza puts groceries and restaurants at the doorstep, and both campuses are close by, keeping occupancy tight each September. A practical, well-located asset in one of Ontario's tightest student housing markets, with rooms rolling through 2026 and 2027 and flexible possession to suit your timeline.

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

Closing Costs

Mortgage Amount
$436,720
Land Transfer Taxes$7,393
Legal Fees (Est.)
$
Total cash required for closing$118,073

Total Monthly Obligation

$3,423/mo
Mortgage $2,202
Monthly Loss $2,844
Principal$579
Interest$1,623
Property Tax$324
Condo Fees$697
Home Insurance$50
Variable Costs$150
Returns
Weight: 25%
Cap Rate
5.3%41
Cash-on-Cash
2.1%12
5-Year IRR
17.6%84
10-Year IRR
16.8%
Returns Index
46.8/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
32/ 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
$48,348/yr
NOI
$28,862/yr
Net Cash Flow
$203/mo
Cash Margin
5.0%12
Cash Flow Index
12.0/ 100
Risk Profile
Weight: 20%
DSCR
1.0935
LTV Ratio
80.0%18
Vacancy Buffer
2.8 mo45
Risk Index
32.7/ 100

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

Comparables

Properties near 271 Lester Street 301

Time

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