280 Lester Street 404, Waterloo

$385,000
280 Lester Street 404

$385,000

New
3d
Condo Apartment1 Storey/Apt

280 Lester Street 404, Waterloo

Total Monthly Obligation $2,605

Beds
2
Baths
1
Park
1
Sqft
700-799
DOM
3d
Score
19
Yield
6.7%
Cash on Cash
-4.0%
Cap Rate
3.7%
5Y IRR
12.4%
10Y IRR
12.1%
Property Type-Condo Apartment
MLS® Number-X14099036
Beds-2
Bathrooms-1
Size-700-799 sqft
Listed on site-Oct 20, 2026
Style-1 Storey/Apt
Building Type-Condo Apartment
Taxes-$4,124 (2026)
Maintenance-$508.19/mo
Locker-None
Parking-1 - Underground
Basement-None
Heating-Forced Air (Gas)
Brokerage-ROYAL LEPAGE WOLLE REALTY
Cooling-Central Air
Laundry-Yes
Fireplace-No
Pool-None
Exterior-Brick, Brick Front
Possession-Immediate Available
Title-Residential Condo & Other

No agent assigned

Great opportunity to own a beautifully upgraded 740 sqft furnished condo, just a short walk from Wilfrid Laurier University, the University of Waterloo and Conestoga College. Freshly painted throughout and outfitted with brand new laminate flooring, this move in ready partially furnished unit shows better than ever. The open concept layout features a contemporary kitchen with granite countertops, stainless steel appliances, and generous storage, making it perfect for everyday living or entertaining. The unit offers 2 spacious bedrooms, a private ENSUITE LAUNDRY, and 1 OWNED underground parking space. The living room opens onto a charming Juliet balcony, but the real showstopper is the rare 10x30ft PRIVATE TERRACE, a true one of-a-kind outdoor space rarely found in condo living ideal for lounging, entertaining, or simply enjoying the fresh air right outside your door. Whether you're a student, a parent looking to secure housing before the fall semester, or an investor seeking a high-demand rental location, this condo checks every box!

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

Closing Costs

Mortgage Amount
$308,000
Land Transfer Taxes$4,250
Legal Fees (Est.)
$
Total cash required for closing$82,750

Total Monthly Obligation

$2,605/mo
Mortgage $1,553
Monthly Loss $2,196
Principal$409
Interest$1,144
Property Tax$344
Condo Fees$508
Home Insurance$50
Variable Costs$150
Returns
Weight: 25%
Cap Rate
2.8%17
Cash-on-Cash
-9.5%1
5-Year IRR
8.4%26
10-Year IRR
9.6%
Returns Index
13.9/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
19/ 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
$25,956/yr
NOI
$10,738/yr
Net Cash Flow
-$658/mo
Cash Margin
-30.4%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.586
LTV Ratio
80.0%18
Vacancy Buffer
3.7 mo63
Risk Index
29.3/ 100

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

Comparables

Properties near 280 Lester Street 404

Time

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Data last updated within the past 24 hours.