Finding a home in Guelph's prestigious Old University neighbourhood is special, but finding one with a fully legal basement suite is a game-changer. For investors, this location is as close to bulletproof as it gets-with its proximity to the University of Guelph, downtown, and transit, you will never have an issue finding quality tenants. For an owner-occupier, it offers the ultimate entry point into a incredible, established community with a legal mortgage helper to keep monthly costs low. The upper unit is an incredible home for anyone looking to get into a prime neighbourhood at an accessible price point. The main level is completely carpet-free with updated vinyl flooring and trim. At the heart of the home is a bright kitchen fully renovated in 2022 with quartz countertops and stainless steel appliances. The open living and dining space is anchored by a warm gas fireplace and features a walkout to a large side yard. Two spacious bedrooms sit on the main level, while the upper floor is dedicated to a massive primary bedroom and an updated four-piece bathroom. Downstairs, the legal two-bedroom basement suite is bright and spacious, featuring its own 2022-renovated kitchen with quartz counters and stainless appliances, plus two large bedrooms and access to shared common laundry. With a new roof in 2024, a furnace replaced in 2021, a detached 1.5-car insulated garage with an updated door, and parking for six cars on a 66' x 109' lot, most of the big-ticket items are done. Best of all, you are a short walk to U of G, Stone Road Mall, riverfront trails, top schools, and bus stops. 274 Water St is a rare find in a landmark neighbourhood. Lower Tenant on a lease until May 31, 2027.
3 bedrooms, 2 bathrooms, about 1,100 sq ft, works out to roughly $704 per square foot. Chat with Zara if you'd like a deeper read on whether this duplex fits your budget and timing.
Inside 274 Water St
Every detail from the listing, in one place.
Type
Duplex
Style
1 1/2 Storey
Living space
1100-1500 sq ftas stated on the listing
Parking
7 spacesYes garage
Basement
Full, Finished
Features & systems
Parking & garage
Garage
Yes
Parking spaces
7
Interior
Basement
Full · Finished
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
1 1/2 Storey
Property class
Duplex
274 Water St Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
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
$3,807
/mo
based on the purchase price of $774,900
$154,980 cash
$619,920 financed
$522,135 total interest
Principal54%$619,920
Interest46%$522,135
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 Guelph
Other 2–4 bed homes for sale in Guelph around $775K.
Average days on market37Homes sold in about 37 days on average.
Sale-to-list ratio97.4%On average, homes sold below asking.
Active listings636Homes for sale here right now.
Median vs prior 90 days−1.8%Compared with May 6 – Aug 4, 2026: prices down.
Based on 598 sales from Aug 4 – Nov 2, 2026 (462 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
274 Water St is listed at $774,900 (MLS® X13619724). Summitly updates the price as soon as the MLS® record changes.
Is $774,900 a good price for 274 Water St?
Summitly rates it Above Market: the asking price is 5% to 15% above Zara's estimate, an estimate built from recent sales in Guelph. 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 274 Water St changed?
Yes — it was first listed at $799,900 and is now $774,900, a drop of $25,000 (3.1%).
How many bedrooms and bathrooms does 274 Water St have?
274 Water St has 3 bedrooms and 2 bathrooms, with about 1,100–1,500 square feet of living space. It is a duplex in Guelph.
Is 274 Water St close to transit?
The nearest rapid-transit station is Guelph Central GO Station (Kitchener GO), about 1.6 km (about a 21-minute walk) in a straight line. Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How much would the monthly mortgage be on 274 Water St?
About $3,807 a month — principal and interest on $774,900 with 20% down ($154,980), 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 274 Water St compare with other homes in Guelph?
Its asking price of $774,900 is about 5% above the median sold price in Guelph over the last 90 days, $737,000, across 598 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 274 Water St been sold before?
Summitly has no earlier MLS® sale or lease of 274 Water St on record from the last two years. Older records aren't shown under TRREB rules.
Where is 274 Water St?
274 Water St is in Guelph, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 274 Water St been on the market?
95 days — 274 Water St was listed on July 30, 2026.
What is the price per square foot of 274 Water St?
About $517 to $704 per square foot: the asking price of $774,900 over the 1,100–1,500 sq ft the listing gives as its size range.
Does 274 Water St have parking or a garage?
Yes — the listing gives 7 parking spaces. Garage: Yes.
