253 Lester St #101 is a 5-bedroom, 2-bathroom condo in Waterloo, listed for $509,000. It has 1000-1199 sq ft of living space.
1Incredible turnkey investment in the heart of Waterloo's university district!
2Features include a spacious open-concept living area, two full baths, included furniture, and professional property management options for a completely hands-off experience.
3Condo fees include heat and water, and the building offers parking, shared laundry, elevator access, and proximity to transit, shops, and amenities.
Incredible turnkey investment in the heart of Waterloo's university district! This purpose-built 5-bedroom, 2-bathroom condo at 253 Lester St has the potential to generate over $49,000/year in gross rental income with positive monthly cash flow. Just steps to Wilfrid Laurier University and the University of Waterloo, this high-demand location ensures consistent tenancy. Features include a spacious open-concept living area, two full baths, included furniture, and professional property management options for a completely hands-off experience. Condo fees include heat and water, and the building offers parking, shared laundry, elevator access, and proximity to transit, shops, and amenities.
5 bedrooms, 2 bathrooms, about 1,000 sq ft, works out to roughly $509 per square foot. Chat with Zara if you'd like a deeper read on whether this condo fits your budget and timing.
Inside 253 Lester St #101
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
253 Lester St #101 Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® X13575452$509,000
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 253 Lester St #101 Compares to the Waterloo Market
Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.
Independent mortgage broker · OAC · rates subject to change and underwritingMortgage Squad →
Referral disclosure: Summitly may refer you to Mortgage Squad Advisors, an affiliated mortgage partner. You are free to choose any lender or mortgage professional.
Monthly cost
Enter a rate to see the monthly cost
An estimate, not a quote. Utilities and insurance are extra.
Affordability calculator
Estimated monthly payment
$2,501
/mo
based on the purchase price of $509,000
$101,800 cash
$407,200 financed
$342,969 total interest
Principal54%$407,200
Interest46%$342,969
20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.
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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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Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Similar homes for sale nearby in Waterloo
Other 5-bed homes for sale in Waterloo around $509K.
Average days on market32Homes sold in about 32 days on average.
Sale-to-list ratio100.1%On average, homes sold at or above asking.
Active listings377Homes for sale here right now.
Median vs prior 90 days−1.7%Compared with May 5 – Aug 3, 2026: prices down.
Based on 427 sales from Aug 3 – Nov 1, 2026 (295 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
More in this building
1 for sale at 253 Lester St — plus its sale and lease history.
253 Lester St #101 is listed at $509,000 (MLS® X13575452). Summitly updates the price as soon as the MLS® record changes.
Is $509,000 a good price for 253 Lester St #101?
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 253 Lester St #101 changed?
No — 253 Lester St #101 is still listed at its original asking price of $509,000.
How many bedrooms and bathrooms does 253 Lester St #101 have?
253 Lester St #101 has 5 bedrooms and 2 bathrooms, with about 1,000–1,199 square feet of living space. It is a condo in Waterloo.
Is 253 Lester St #101 close to transit?
The nearest rapid-transit station is University of Waterloo Station (ION), about 510 m (about a 6-minute walk) in a straight line. Laurier - Waterloo Park Station is about 530 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 253 Lester St #101?
About $2,501 a month — principal and interest on $509,000 with 20% down ($101,800), 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 253 Lester St #101 compare with other homes in Waterloo?
Its asking price of $509,000 is about 27% below the median sold price in Waterloo over the last 90 days, $700,000, across 427 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 253 Lester St #101 been sold before?
Summitly has no earlier MLS® sale or lease of 253 Lester St #101 on record from the last two years. Older records aren't shown under TRREB rules.
Where is 253 Lester St #101?
253 Lester St #101 is in Waterloo, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 253 Lester St #101 been on the market?
107 days — 253 Lester St #101 was listed on July 17, 2026.
What is the price per square foot of 253 Lester St #101?
About $425 to $509 per square foot: the asking price of $509,000 over the 1,000–1,199 sq ft the listing gives as its size range.
Does 253 Lester St #101 have a basement, and is it finished?
The listing says 253 Lester St #101 has no basement.
