308 Lester St #428

A Smart Move for Parents & Investors!

Waterloo is one of Ontario’s strongest rental markets, thanks to its thriving student population, growing tech sector, and consistent demand for housing. If you’ve been considering an investment property, this one-bedroom, one-bathroom condo at 308 Lester St is an opportunity worth looking into. With an asking price of $379,000, ensuite laundry, a private balcony, and one included parking spot, this unit offers both comfort and convenience.

List Price:

$379,000

 

Property Details:

Condo Apartment

464 Sq ft

1 Bedroom

1 Bathroom

Balcony

1 Parking

Other Details:

Property Taxes: $2443.20

Maintenance Fee: $405.09

Inclusions:

Furniture: (Double bed, nightstand, desk, and chair, Couch, rug, TV with TV stand, additional desk and chair, two dining chairs, and a stool)

Stainless Steel Kitchen Appliances

Laundry washer and dryer

 

 

turn-key investment

With no renovations required and steady rental demand all year round, you can start making cashflow without any heavy lifting.

 

cash-flow +

Expected market rent of $2,000/month, appealing to students, young professionals, and university faculty.

 

PRIME LOCATION

Waterloo real estate has shown strong appreciation trends, making this not just a rental play but a long-term wealth-building strategy.

 

The building

Sage Condominiums offers an exceptional living experience with a fully equipped gym, a stunning rooftop terrace, and electronic security for your peace of mind.

 

The unit

Step into unit 428, a turn-key unit at 308 Lester St. A fully furnished 1-bedroom, 1-bathroom condominium that blends modern with an open-concept design, bathing the space in natural light. This unit features ensuite laundry, and a private balcony, perfect for relaxing, and includes 1 convenient parking spot. Located just minutes from Wilfrid Laurier and Waterloo Universities, you’ll be at the heart of it all—steps away from parks, trendy shops, lively pubs, and delicious restaurants.


A Smart Investment Choice

Waterloo is known for its booming tech industry, world-class educational institutions, and strong rental market, making this condo an ideal investment opportunity. With high demand for student and young professional housing, this unit provides great potential for consistent rental income and long-term property appreciation. The city’s rapid growth, fueled by top-tier universities and major employers like Google, Shopify, and OpenText, continues to attract new residents and investors alike.

 
 

Owner-Occupied or Parent Buying for a University Student

One of the best investment strategies is for parents to buy a condo for their child attending university. Instead of paying high rental costs for several years, they build equity while providing stable housing.

  • Parents can contribute a larger down payment (30-40%) to reduce mortgage costs.

  • Student can rent out the living space to a roommate, helping cover expenses.

  • After graduation, they can sell at a profit or continue renting for long-term passive income.

 

 

20% Down Payment

  • Purchase Price: $379,000

  • Down Payment (20%): $75,800

  • Mortgage Amount: $303,200

  • Mortgage Rate (5-Year Fixed @ 5.1%): ~$1,789/month (25-year amortization)

  • Total Carrying Costs:

    • Mortgage: $1,789

    • Property Tax: ~$204/month

    • Maintenance Fees: $360

    • Total Monthly Costs: $2,353

  • Rental Income: $2,000/month

  • Net Monthly Cash Flow: -$353

This scenario is slightly cash-flow negative, but with rent appreciation and principal pay down, the long-term benefits still make sense for equity growth.

 

25% Down Payment

  • Down Payment (25%): $94,750

  • Mortgage Amount: $284,250

  • Mortgage Rate (5-Year Fixed @ 5.1%): ~$1,677/month

  • Total Monthly Costs: ~$2,241

  • Net Monthly Cash Flow: -$241

With a 25% down payment, the cash flow improves slightly, and investors avoid CMHC insurance fees. Over time, rental increases can turn this into a positive cash-flowing property.

 

 

living well in WATERLOO

Unit 428 is located in Waterloo’s vibrant university district, just a short walk from Wilfrid Laurier University and the University of Waterloo, making it an excellent choice for students, faculty, and young professionals. The surrounding area offers a dynamic mix of urban conveniences and natural beauty, including parks, bike trails, and green spaces.

Residents enjoy easy access to public transportation, major highways, and the ION Light Rail Transit, connecting you effortlessly to downtown Waterloo, Kitchener, and beyond. The neighbourhood is rich with amenities, including cafes, grocery stores, fitness centres, shopping plazas, and entertainment options. Whether you’re grabbing a coffee at a local café, dining at a trendy restaurant, or exploring nearby attractions, everything you need is just steps away.


Contact Us

Marlon Deogracias

Realtor | Mortgage Agent Level 1 Mobile: (416) 888-9222 Email: marlon@dreg.ca

Emmy Ha

Realtor Mobile: (416) 888-9222 Email: emmy@dreg.ca

 

more information?

Please complete the following form:

Previous
Previous

255 Colbeck Drive

Next
Next

5025 Four Springs Ave Unit 606