255 Northlake Drive Unit 28, Waterloo

$399,900
255 Northlake Drive Unit 28

$399,900

New
7d
Condo Townhouse2-Storey

255 Northlake Drive Unit 28, Waterloo

Total Monthly Obligation $2,569

Beds
3
Baths
2
Park
1
Sqft
1200-1399
DOM
7d
Score
25
Yield
7.9%
Cash on Cash
3.1%
Cap Rate
5.3%
5Y IRR
18.1%
10Y IRR
16.7%
Property Type-Condo Townhouse
MLS® Number-X14089324
Beds-3
Bathrooms-2
Size-1200-1399 sqft
Listed on site-Oct 16, 2026
Style-2-Storey
Building Type-Condo Townhouse
Age-31-50
Taxes-$3,065.03 (2026)
Maintenance-$500/mo
Locker-None
Parking-1 - Carport
Basement-Finished
Heating-Forced Air (Gas)
Brokerage-Bosley Real Estate Ltd.
Cooling-Central Air
Laundry-No
Fireplace-Natural Gas
Pool-None
Exterior-Vinyl Siding, Brick
Roof-Asphalt Shingle
Foundation-Poured Concrete
Possession-Call LA for more details
Title-Residential Condo & Other

No agent assigned

Pride of ownership shines throughout this lovingly maintained townhome in the highly desirable Lakeshore North neighbourhood! Thoughtful updates make this home a pleasure to show. Luxury vinyl plank flooring flows throughout, complemented by coordinating flush-mount floor registers for a clean, cohesive look. The kitchen features rich mahogany-stained cherry wood Barzotti cabinetry, generous counter space and ample drawer and cupboard storage, creating a welcoming space for everyday living. The updates continue with a main-floor powder room featuring matching mahogany-stained cherry wood cabinetry and a one-piece elongated toilet, while the renovated upper-level bathroom features a spacious 5-foot walk-in shower with a glass enclosure. Upstairs, you'll find three well-sized bedrooms, each with ample closet space and upgraded doors in place of outdated sliding closet doors. Brushed nickel hardware adds a stylish, consistent finishing touch throughout. Need more room to relax? The finished basement offers a comfortable recreation room featuring a gas fireplace (as-is), along with a utility and laundry area with additional storage space. There's even a bathroom rough-in, offering the potential to add further convenience to the basement space. Step through the living room patio doors onto your personal deck, a great spot to enjoy your morning coffee or unwind at the end of the day. Recent improvements include a condominium roof replacement in 2026, along with a new tankless/ on demand water heater. Convenience is another standout feature, with two nearby shopping plazas offering a gym, Starbucks, Tim Hortons, restaurants, shopping and everyday essentials. Easy access to major highways and the St. Jacobs Farmers' Market adds to the appeal of this well-connected Waterloo location. A lovingly cared-for home with thoughtful updates, versatile living space and everyday conveniences close at hand.

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

Closing Costs

Mortgage Amount
$319,920
Land Transfer Taxes$4,474
Legal Fees (Est.)
$
Total cash required for closing$85,954

Total Monthly Obligation

$2,569/mo
Mortgage $1,613
Monthly Loss $2,144
Principal$424
Interest$1,189
Property Tax$255
Condo Fees$500
Home Insurance$50
Variable Costs$150
Returns
Weight: 25%
Cap Rate
4.3%29
Cash-on-Cash
-2.7%4
5-Year IRR
13.7%63
10-Year IRR
13.7%
Returns Index
32.6/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
25/ 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
$31,632/yr
NOI
$17,004/yr
Net Cash Flow
-$196/mo
Cash Margin
-7.4%1
Cash Flow Index
1.1/ 100
Risk Profile
Weight: 20%
DSCR
0.8818
LTV Ratio
80.0%18
Vacancy Buffer
3.7 mo64
Risk Index
33.5/ 100

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

Comparables

Properties near 255 Northlake Drive Unit 28

Time

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Data last updated within the past 24 hours.