Looking for the perfect condo in the heart of Waterloo? Look no further! Unit 602 at 318 Spruce St. gives you EVERYTHING and more! Like to cook? This amazing kitchen offers ample counterspace, full size appliances and TONS of storage. Don't feel boxed into a condo again, there is an abundance of natural light that floods into the unit from all sides! Both bedrooms are well designated with large closets and room for a large desk. Feel like a condo can get stuffy? The open balcony with unobstructed views gives you a chance to step into some fresh air after along day of work or study. The floor plan is perfect for young professionals, students, and investors alike. Sitting in the desirable residential cove near the University of Waterloo and Laurier University, 318 Spruce St. is easily accessible to shopping, schools, restaurants and all essentials and amenities that the city has to offer. Don't miss this amazing unit at an incredible price!
2 bedrooms, 2 bathrooms, about 900 sq ft, works out to roughly $461 per square foot, the bed-to-bath ratio is generous. Chat with Zara if you'd like a deeper read on whether this condo fits your budget and timing.
Inside 318 Spruce St #602
Every detail from the listing, in one place.
Type
Condo
Style
Apartment
Living space
900-999 sq ftas stated on the listing
Basement
None
Features & systems
Parking & garage
Garage
Yes
Parking spaces
0
Interior
Basement
None
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
Apartment
Property class
Common Element Condo
318 Spruce St #602 Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® X14092992$415,000
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 318 Spruce St #602 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
$2,039
/mo
based on the purchase price of $415,000
$83,000 cash
$332,000 financed
$279,631 total interest
Principal54%$332,000
Interest46%$279,631
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.
For homeowners nearby
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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 1–2 bed homes for sale in Waterloo around $415K.
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 listings403Homes for sale here right now.
Median vs prior 90 days−3.2%Compared with Apr 25 – Jul 24, 2026: prices down.
Based on 433 sales from Jul 24 – Oct 22, 2026 (303 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
5 for sale · 2 for rent at 318 Spruce St — plus its sale and lease history.
318 Spruce St #602 is listed at $415,000 (MLS® X14092992). Summitly updates the price as soon as the MLS® record changes.
Is $415,000 a good price for 318 Spruce St #602?
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 318 Spruce St #602 changed?
No — 318 Spruce St #602 is still listed at its original asking price of $415,000.
How many bedrooms and bathrooms does 318 Spruce St #602 have?
318 Spruce St #602 has 2 bedrooms and 2 bathrooms, with about 900–999 square feet of living space. It is a condo in Waterloo.
Is 318 Spruce St #602 close to transit?
The nearest rapid-transit station is Laurier - Waterloo Park Station (ION), about 1.3 km (about a 16-minute walk) in a straight line. University of Waterloo Station is about 1.4 km (about a 17-minute walk), and Research and Technology Station is about 1.5 km (about a 19-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 318 Spruce St #602?
About $2,039 a month — principal and interest on $415,000 with 20% down ($83,000), 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 318 Spruce St #602 compare with other homes in Waterloo?
Its asking price of $415,000 is about 40% below the median sold price in Waterloo over the last 90 days, $689,000, across 433 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 318 Spruce St #602 been sold before?
Summitly has no earlier MLS® sale or lease of 318 Spruce St #602 on record from the last two years. Older records aren't shown under TRREB rules.
Where is 318 Spruce St #602?
318 Spruce St #602 is in Waterloo, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 318 Spruce St #602 been on the market?
3 days — 318 Spruce St #602 was listed on October 19, 2026.
What is the price per square foot of 318 Spruce St #602?
About $415 to $461 per square foot: the asking price of $415,000 over the 900–999 sq ft the listing gives as its size range.
