1 / 11

Investment signal

$569,900

#104 - 253 LESTER STREET

Save this home

Beds

Baths

Sqft

—

Year

—

Type

Single Family

Suite

Suite potential

Text Hasan Open map Ask a question

Location nearby

Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Waterloo. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

About this home

Opportunity Knocks! Freshly painted and impeccably maintained, this ground-floor CORNER unit offers a truly hands-off investment in a high-demand area. Centrally located along the university hub - walking distance to both University of Waterloo and Wilfrid Laurier University. All 5 bedrooms are fully tenanted, generating $3,800/month in rental income which totals a yearly income of $45,600. Tenancies are secured with 3-year leases beginning September 2025, providing exceptional stability and peace of mind for any investor. The building has recently added a brand-new onsite laundry facility, enhancing convenience for the tenants. A rare chance to step into a worry-free, income-producing property. Please see inclusions for furniture included. (id:65958)

Subtype: Single Family
Structure: Apartment
Common interest: Condo/Strata
Bedrooms: 5 above grade
Parking: 0 total
Condo/HOA fee: $802 monthly
On market: Apr 22, 2026
Status changed: Apr 22, 2026
Annual tax: $3,932
Zoning: Residential
Photos: 11
MLS#: X13031346
Area: WATERLOO

Features and systems

Parking

No Garage

Basement

None

Appliances

RefrigeratorDishwasherStoveBlindsFurniture

Heating

Forced airNatural gas

Cooling

Central air conditioning

Exterior

Brick

Flooring

CarpetedCeramic

Community

Pets not Allowed

Fee includes

Common Area MaintenanceHeatWaterInsurance

Negative cash flow ~$229/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)Default 4.5% — adjust to your rate holdAmortization (years)

Cash on cash

-2.41%

Cap rate

4.38%

GRM

14.4

Break-even rent

$3,541

Financing

Down payment$113,980

Loan amount$455,920

Mortgage$2,310/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$261

Insurance$80

Maintenance$475

CapEx reserve$237

Vacancy loss$165

Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.

Mortgage estimate

Estimated $2,310/mo at 4.5% with 20% down, 30-yr amortization.Estimate only — actual payment varies by qualification + insurance.

Listing brokerage

Listing brokerage on file

Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 22, 2026.