223 WATER Street
Cambridge, Ontario
4 bed • 2 bath • Multi-family
Great investment opportunity: legal duplex with strong income potential. You can get vacant possession and set your own rents. This up-and-down property includes two units 1-bedroom unit, two bedroom unit plus a possible of a basement in-law suite (currently the son is living there). The upper unit offers a playful loft for extra living . The main level boasts high ceilings, a den/office, and a front and rear entrance. Ample parking behind the house. Conveniently located near the schools, hospital, shopping, and downtown, with nearby parks, river trails, and walking paths for outdoor recreation. Twenty minutes to the 401 and a bus stop directly across the road.? Two Separate Hydro meters A real Money Maker.
Price History
Schools
Secondary
- Galt Collegiate and Vocational Institute0.2 km
Public · Waterloo Region DSB · 960 students
Grade 10 literacy: 83% met the provincial standard
- Glenview Park Secondary School2.7 km
Public · Waterloo Region DSB · 1055 students
Grade 10 literacy: 85% met the provincial standard
- Southwood Secondary School2.7 km
Public · Waterloo Region DSB · 700 students
Grade 10 literacy: 74% met the provincial standard
Elementary
- Manchester Public School0.3 km
Public · Waterloo Region DSB · 340 students
Grade 3 reading: 61% met the provincial standard · Grade 6 math: 37% met the provincial standard
- Blair Road Public School1 km
Public · Waterloo Region DSB · 405 students
Grade 3 reading: 77% met the provincial standard · Grade 6 math: 49% met the provincial standard
- St Peter Catholic Elementary School1 km
Catholic · Waterloo CDSB · 310 students
Grade 3 reading: 61% met the provincial standard · Grade 6 math: 57% met the provincial standard
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
Community
Postal area N1R
- Population
- 42,928
- Private dwellings
- 18,081
- Median age
- 40.8
- Average household size
- 2.5
- Median household income
- $77,000
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Multi-family in Cambridge · last 12 months
- Median sold price
- $675,000
- Homes sold
- 1,256
- Median days on market
- 19
- Sale-to-list price
- 100.6%
Based on 1,256 recorded sales of multi-family properties in Cambridge over the last 12 months.
Walk Score
Walk
Transit
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Scores by Walk Score®
Location
Mortgage Calculator
$99,980
Estimated Monthly Payment
$2,456
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $2,456/mo (20% down, 5.5%)
Taxes: $0/mo · Insurance: $125/mo
Estimates only. Consult a financial advisor.
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