511 - 308 Lester Street
Waterloo, ON
- 1 bed
- 1 bath
- approx. 0-499 sqft
- Condo Apartment
Welcome to a prime parent-owner opportunity in Waterloo's coveted university district. This stylish 1-bedroom, 1-bathroom condo is perfectly positioned for families planning ahead: currently tenanted until August 27, 2027, it offers immediate rental income while you prepare for your child's arrival at the UW or WLU in September 2027. Start collecting rent now, then transitioning seamlessly to a safe, modern, independent living space for your child next September - all while building equity in one of Ontario's most resilient real estate markets. Located just a 10-minute walk from both UW and WLU lecture halls and steps from the UW LRT Station, this unit eliminates commute stress and places your child at the heart of campus life. Inside, enjoy premium finishes including granite countertops, stainless-steel appliances, in-suite laundry, high ceilings, modern neutral tones, laminate flooring throughout, a spacious bedroom with large closet, and a private balcony with great views. Building amenities are designed for student success and comfort, with the included fibre-optic internet service, on-site fitness facility, social lounge, rooftop terrace, secure bike storage, and professional on-site management. Low condo fees cover most essentials (all except hydro), and the unit comes fully furnished - including all appliances, window coverings, and furniture - making it truly turnkey. Lock in today's price, avoid the uncertainty of unreliable roommates or subpar rentals, and give your child a clean, modern, and secured environment where they can thrive academically. With parks, shopping, dining, and transit all within walking distance, this unit delivers everything a student needs, and everything a parent wants. Don't miss this rare chance to safeguard your child's future and your family's financial advantage in one of Waterloo's highest-demand student housing markets. This isn't just an investment; it's a smart family strategy.
Listing Details
- Taxes (2026)
- $2,521
- Listed
- September 7, 2026
Price History
Property
- Style
- Apartment
- Age
- 6-10
- Construction
- Brick, Concrete
- Interior
- None
Parking
- Garage
- Surface
- Covered Spaces
- 0
- Total Parking
- 0
Utilities
- Heat Source
- Other
Location & Legal
- Cross Street
- Lester Street and Hickory Street West
- Zoning
- RN-8
- Parcel Number
- 236630163
- Possession
- Flexible
- Occupancy
- Tenant
Condo
- Maintenance Fee
- $319/month
- Fee Includes
- CAC Included, Common Elements Included, Heat Included, Building Insurance Included, Parking Included, Water Included
- Pets
- Yes-with Restrictions
- Locker
- None
- Balcony
- Open
- Amenities
- Bike Storage, Exercise Room, Rooftop Deck/Garden, Visitor Parking
Included
- Inclusions
- Flat screen TV and all furniture shown in listing photos are included.
- Exclusions
- Tenant belongings
Schools
Secondary
- Waterloo Collegiate Institute0.6 km
Public · Waterloo Region DSB · 1480 students
Grade 10 literacy: 85% met the provincial standard
- St David Catholic Secondary School1 km
Catholic · Waterloo CDSB · 1080 students
Grade 10 literacy: 97% met the provincial standard
- Bluevale Collegiate Institute2.9 km
Public · Waterloo Region DSB · 1115 students
Grade 10 literacy: 88% met the provincial standard
Elementary
- MacGregor Public School1.1 km
Public · Waterloo Region DSB · 510 students
- Winston Churchill Public School1.1 km
Public · Waterloo Region DSB · 320 students
Grade 3 reading: 81% met the provincial standard · Grade 6 math: 56% met the provincial standard
- Cedarbrae Public School1.7 km
Public · Waterloo Region DSB · 240 students
Grade 3 reading: 21% met the provincial standard · Grade 6 math: 14% 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 N2L
- Population
- 37,953
- Private dwellings
- 19,681
- Median age
- 29.8
- Average household size
- 2.2
- Median household income
- $69,500
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
Residential Condo & Other in Waterloo · last 12 months
- Median sold price
- $695,000
- Homes sold
- 1,032
- Median days on market
- 22
- Sale-to-list price
- 99.8%
Based on 1,032 recorded sales of residential condo & other properties in Waterloo over the last 12 months.
Rooms
4-piece on Main
Main
- Dining Room5'1" x 5'4"
- Kitchen5'4" x 10'4"
- Living Room11'10" x 13'8"
- Primary Bedroom7'11" x 10'5"
Listed by
CITYSCAPE REAL ESTATE LTD.
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Mortgage Calculator
$57,000
Estimated Monthly Payment
$1,400
Land transfer tax
Ontario land transfer tax only. An estimate — not legal or financial advice. Municipal land transfer tax applies in Toronto and is not included.
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $1,400/mo (20% down, 5.5%)
Taxes: $210/mo · Insurance: $71/mo
Maint: $319/mo
Estimates only. Consult a financial advisor.
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