250 Lester St #401, Waterloo

Name: 250 Lester Street, Unit 401
SKU: X14129066
Price: 488900 CAD
Availability: InStock

4 Bed, 2 Bath Condo in Waterloo

Unit 401 at 250 Lester Street

253 Lester St. #401 is a turnkey student rental investment property in the heart of Waterloo's university district. This spacious 5-bedroom, 2-bathroom condo is purpose-built for student living and delivers strong, consistent rental income with minimal effort. Just steps from Wilfrid Laurier University and the University of Waterloo, this location attracts reliable tenants year after year. The thoughtfully designed layout features approximately 1,158 sq ft of living space, including five generously sized bedrooms, two full bathrooms, and a large open-concept common area highlighted by an L-shaped kitchen and a bright living/dining room - perfect for gatherings, study sessions, or relaxing after class (recently updated with new furniture). Condo fees include heat and water, keeping operating costs low. The building offers elevator access, a brand-new onsite laundry facility for added tenant convenience, central air conditioning, and proximity to public transit, shopping, restaurants, and all essential amenities. Street parking and additional building parking options are available. Whether you're an experienced investor or looking for your first student rental property, this unit offers hands-off potential with proven gross rental income potentially exceeding $45,000 per year (based on current market rents in the building). Many similar units in the complex are fully tenanted with long-term leases, delivering stable cash flow in this ever-growing university hub. Don't miss your chance to own a worry-free (excellent onsite management available), income-generating property in one of Waterloo's most sought-after student locations. Schedule your viewing today!

4 bedrooms, 2 bathrooms, about 1,000 sq ft, works out to roughly $489 per square foot. Chat with Zara if you'd like a deeper read on whether this condo fits your budget and timing.

Inside 250 Lester St #401

Every detail from the listing, in one place.

Type: Condo
Style: Apartment
Living space: 1000-1199 sq ftas stated on the listing
Basement: None

Features & systems

Parking & garage

Parking spaces: 0

Interior

Basement: None

Lot & land

Lot size (sqft): 0

Listing & possession

Property style: Apartment
Property class: Condo Apartment

250 Lester St #401 Price & Sale History

Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.

Oct 28, 2026For saleListedThis listingMLS® X14129066$488,900

Sourced from MLS®. Includes earlier listings of this property on record.

What's it worth?

How 250 Lester St #401 Compares to the Waterloo Market

Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.

Zara’s estimate

Excellent Deal· based on 721 recent sales

Value your own home →How accurate are Zara’s estimates?

Summitly estimate, not from TRREB, the MLS® or the listing brokerage. Not an appraisal. How it works

Waterloo market, last 90 days

Median sold price: $695,000
Average sold price: $756,640
Average days on market: 32
Homes sold: 425

Closed sales on the TRREB MLS®.

Full Waterloo market report

Market pulse · Waterloo

Waterloo market

Median sold price$695,000Last 90 days
Average days on market32Homes sold in about 32 days on average.
Sale-to-list ratio100.0%On average, homes sold at or above asking.
Active listings409Homes for sale here right now.
Median vs prior 90 days−2.0%Compared with May 2 – Jul 31, 2026: prices down.

Based on 425 sales from Jul 31 – Oct 29, 2026 (298 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.

Recently sold nearby in Waterloo

Sold prices are shown free to signed-in members, as board rules require.

6 nearby sales vs. this home

Closed sales from MLS®, compared with this home's asking price.

See what these homes actually sold for

Free with a Summitly account. Sign in once and sold prices unlock across the site.

Home	Sold price	$ / sqft	% of asking	Sold
This homeUnit 401 — 250 Lester Street 4 bd · 2 ba · 1,000 sqft	$488,900asking	$489	—	—
276 Eiwo Court 3 bd · 1 ba · 900 sqft
271 Lester Street 5 bd · 2 ba · 1,200 sqft
8 Hickory Street 3 bd · 2 ba · 1,400 sqft
330 PHILLIP Street 3 bd · 2 ba · 800 sqft
330 PHILLIP Street 3 bd · 2 ba · 800 sqft
8 Hickory Street 4 bd · 4 ba · 2,000 sqft

276 Eiwo Court
3 bd · 1 ba · 900 sqft
271 Lester Street
5 bd · 2 ba · 1,200 sqft
8 Hickory Street
3 bd · 2 ba · 1,400 sqft
330 PHILLIP Street
3 bd · 2 ba · 800 sqft
330 PHILLIP Street
3 bd · 2 ba · 800 sqft
8 Hickory Street
4 bd · 4 ba · 2,000 sqft

Living in Waterloo: Location & Amenities

Transit, schools, parks and everyday places near this home. Select any place to open it on Google Maps.

Transit nearby

Stations and stops, straight-line distance

Laurier - Waterloo Park StationION540 m7 min walk
University of Waterloo StationION560 m7 min walk
Research and Technology StationION1.2 km15 min walk

Places from OpenStreetMap (© OpenStreetMap contributors) and Summitly's station list. Distances are straight-line, not routes.

Loading schools, parks, groceries and more nearby…

Transit

Laurier - Waterloo Park Station (ION)7 min walk
University of Waterloo Station (ION)7 min walk
Research and Technology Station (ION)15 min walk

Nearest subway, GO and LRT stations first, then bus and streetcar stops.

Laurier - Waterloo Park Station
540 m7 minClosest· ION
Homes near Laurier - Waterloo Park Station
University of Waterloo Station
560 m7 min· ION
Homes near University of Waterloo Station
Research and Technology Station
1.2 km15 min· ION
Homes near Research and Technology Station

Straight-line distances from the listing; walking times assume about 80 m a minute. Places © OpenStreetMap contributors, a community-maintained map that may miss or misplace some places. Directions and place details open on Google Maps.

How long is your commute?

From 250 Lester St #401. Typical times without traffic delays; transit times aren't available yet.

Costs, Mortgage & Rental Return for 250 Lester St #401

What it could cost each month, today's rates from our mortgage partner, and what it could return as a rental.

Mortgage: $2,402; 20% down · 25 years · 5.5% assumed
Property tax: $269; 0.66% mill rate · ON
Total per month: $2,671; Before utilities, insurance and fees

Figures are Summitly estimates for illustration only — not from TRREB or the MLS® feed, and not a mortgage approval, appraisal, or financial advice.

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Monthly cost

Enter a rate to see the monthly cost

Down payment

Rate (%)

Years

An estimate, not a quote. Utilities and insurance are extra.

Affordability calculator

Estimated monthly payment

$2,402

/mo

based on the purchase price of $488,900

Down payment20%

$97,780 cash

Amortization25 yr

$391,120 financed

Rate5.50%

$329,426 total interest

Principal54%$391,120

Interest46%$329,426

20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.

Want rate-drop alerts and a saved shortlist?

Figures are Summitly estimates for illustration only — not from TRREB or the MLS® feed, and not a mortgage approval, appraisal, or financial advice.

Rental income potential

Est. monthly rent

low–high

Gross yield

rent × 12 ÷ price

Cap rate (est.)

net of tax + fees

Summitly AI estimate for discussion only — not from TRREB or the MLS® feed, and not an appraisal or investment advice. Yield and cap rate are derived from the estimated rent versus the asking price.

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Questions About 250 Lester St #401

How much is 250 Lester St #401 listed for?

250 Lester St #401 is listed at $488,900 (MLS® X14129066). Summitly updates the price as soon as the MLS® record changes.

Is $488,900 a good price for 250 Lester St #401?

Summitly rates it Excellent Deal: the asking price is 10% or more below Zara's estimate, an estimate built from recent sales in Waterloo. The rating is an automated opinion, not an appraisal; "What's it worth?" on this page shows how it is worked out. See Zara's estimate

Has the price of 250 Lester St #401 changed?

No — 250 Lester St #401 is still listed at its original asking price of $488,900.

How many bedrooms and bathrooms does 250 Lester St #401 have?

250 Lester St #401 has 4 bedrooms and 2 bathrooms, with about 1,000–1,199 square feet of living space. It is a condo in Waterloo.

Is 250 Lester St #401 close to transit?

The nearest rapid-transit station is Laurier - Waterloo Park Station (ION), about 540 m (about a 7-minute walk) in a straight line. University of Waterloo Station is about 560 m (about a 7-minute walk), and Research and Technology Station is about 1.2 km (about a 15-minute walk). Distances are straight-line, not walking routes; check the transit agency for routes and schedules.

How much would the monthly mortgage be on 250 Lester St #401?

About $2,402 a month — principal and interest on $488,900 with 20% down ($97,780), a 25-year amortization and an assumed 5.5% interest rate. The mortgage calculator on this page lets you change the down payment, amortization and rate.

How does 250 Lester St #401 compare with other homes in Waterloo?

Its asking price of $488,900 is about 30% below the median sold price in Waterloo over the last 90 days, $695,000, across 425 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.

Has 250 Lester St #401 been sold before?

Summitly has no earlier MLS® sale or lease of 250 Lester St #401 on record from the last two years. Older records aren't shown under TRREB rules.

Where is 250 Lester St #401?

250 Lester St #401 is in Waterloo, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.

How long has 250 Lester St #401 been on the market?

1 day — 250 Lester St #401 was listed on October 28, 2026.

What is the price per square foot of 250 Lester St #401?

About $408 to $489 per square foot: the asking price of $488,900 over the 1,000–1,199 sq ft the listing gives as its size range.

Does 250 Lester St #401 have a basement, and is it finished?

The listing says 250 Lester St #401 has no basement.

What you should know

4 Bed, 2 Bath Condo in Waterloo

Unit 401 at 250 Lester Street

Inside 250 Lester St #401

Features & systems

250 Lester St #401 Price & Sale History

How 250 Lester St #401 Compares to the Waterloo Market

Waterloo market, last 90 days

Recently sold nearby in Waterloo

Living in Waterloo: Location & Amenities

How long is your commute?

Costs, Mortgage & Rental Return for 250 Lester St #401

Monthly cost of owning

Mortgage payments

Monthly cost

Rental income potential

Own a home on Lester Street? See what yours is worth

Zara, any time

A licensed local agent

See 250 Lester St #401, Waterloo in person

Similar homes for sale nearby in Waterloo

Explore More Condos in Waterloo

4 Bed, 2 Bath Condo in Waterloo

Unit 401 at 250 Lester Street

Inside 250 Lester St #401

Features & systems

250 Lester St #401 Price & Sale History

How 250 Lester St #401 Compares to the Waterloo Market

Waterloo market, last 90 days

Market pulse · Waterloo

Recently sold nearby in Waterloo

Living in Waterloo: Location & Amenities

Transit nearby

Transit

How long is your commute?

Costs, Mortgage & Rental Return for 250 Lester St #401

Monthly cost of owning

Mortgage payments

Monthly cost

Rental income potential

Own a home on Lester Street? See what yours is worth

Zara, any time

A licensed local agent

See 250 Lester St #401, Waterloo in person

Questions About 250 Lester St #401

How much is 250 Lester St #401 listed for?

Is $488,900 a good price for 250 Lester St #401?

Has the price of 250 Lester St #401 changed?

How many bedrooms and bathrooms does 250 Lester St #401 have?

Is 250 Lester St #401 close to transit?

How much would the monthly mortgage be on 250 Lester St #401?

How does 250 Lester St #401 compare with other homes in Waterloo?

Has 250 Lester St #401 been sold before?

Where is 250 Lester St #401?

How long has 250 Lester St #401 been on the market?

What is the price per square foot of 250 Lester St #401?

Does 250 Lester St #401 have a basement, and is it finished?

Similar homes for sale nearby in Waterloo

Explore More Condos in Waterloo

Market pulse · Waterloo

Transit nearby

Transit

Questions About 250 Lester St #401

How much is 250 Lester St #401 listed for?

Is $488,900 a good price for 250 Lester St #401?

Has the price of 250 Lester St #401 changed?

How many bedrooms and bathrooms does 250 Lester St #401 have?

Is 250 Lester St #401 close to transit?

How much would the monthly mortgage be on 250 Lester St #401?

How does 250 Lester St #401 compare with other homes in Waterloo?

Has 250 Lester St #401 been sold before?

Where is 250 Lester St #401?

How long has 250 Lester St #401 been on the market?

What is the price per square foot of 250 Lester St #401?

Does 250 Lester St #401 have a basement, and is it finished?