318 Spruce St #1202 is a 3-bedroom, 2-bathroom condo in Waterloo, listed for $499,900. It has 900-999 sq ft of living space.
1Turnkey investment in Waterloo's University District!
2Located steps from the University of Waterloo and Wilfrid Laurier University, this suite sits in a well-known rental area of Kitchener-Waterloo that is popular with students and young professionals.
3The suite features 3 bedrooms, two full bathrooms, a kitchen with granite countertops and stainless steel appliances, and in-suite laundry.
Turnkey investment in Waterloo's University District! Unit 1202 at 318 Spruce Street is a 3-bedroom, 2-bathroom condo with tenants already in place, so a buyer takes over an existing lease rather than starting from a vacant unit. Located steps from the University of Waterloo and Wilfrid Laurier University, this suite sits in a well-known rental area of Kitchener-Waterloo that is popular with students and young professionals. The suite features 3 bedrooms, two full bathrooms, a kitchen with granite countertops and stainless steel appliances, and in-suite laundry. It's a practical layout for a rental, with a bedroom count and in-suite laundry that tenants in this area look for. Close to transit, shopping, restaurants and everything uptown Waterloo has to offer. Whether you're adding to your portfolio or buying your first investment property, this one is worth a look.
3 bedrooms, 2 bathrooms, about 900 sq ft, works out to roughly $555 per square foot. Chat with Zara if you'd like a deeper read on whether this condo fits your budget and timing.
Inside 318 Spruce St #1202
Every detail from the listing, in one place.
Type
Condo
Style
1 Storey/Apt
Living space
900-999 sq ftas stated on the listing
Parking
1 space
Basement
None
Features & systems
Parking & garage
Parking spaces
1
Interior
Basement
None
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
1 Storey/Apt
Property class
Condo Apartment
318 Spruce St #1202 Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® X14111422$499,900
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 318 Spruce St #1202 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
$2,456
/mo
based on the purchase price of $499,900
$99,980 cash
$399,920 financed
$336,838 total interest
Principal54%$399,920
Interest46%$336,838
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.
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 2–5 bed homes for sale in Waterloo around $500K.
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 listings405Homes for sale here right now.
Median vs prior 90 days−3.4%Compared with Apr 26 – Jul 25, 2026: prices down.
Based on 428 sales from Jul 25 – Oct 23, 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
6 for sale · 2 for rent at 318 Spruce St — plus its sale and lease history.
318 Spruce St #1202 is listed at $499,900 (MLS® X14111422). Summitly updates the price as soon as the MLS® record changes.
Is $499,900 a good price for 318 Spruce St #1202?
Summitly rates it Good Deal: the asking price is 3% to 10% 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 #1202 changed?
No — 318 Spruce St #1202 is still listed at its original asking price of $499,900.
How many bedrooms and bathrooms does 318 Spruce St #1202 have?
318 Spruce St #1202 has 3 bedrooms and 2 bathrooms, with about 900–999 square feet of living space. It is a condo in Waterloo.
Is 318 Spruce St #1202 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 #1202?
About $2,456 a month — principal and interest on $499,900 with 20% down ($99,980), 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 318 Spruce St #1202 compare with other homes in Waterloo?
Its asking price of $499,900 is about 27% below the median sold price in Waterloo over the last 90 days, $687,500, across 428 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 #1202 been sold before?
Summitly has no earlier MLS® sale or lease of 318 Spruce St #1202 on record from the last two years. Older records aren't shown under TRREB rules.
Where is 318 Spruce St #1202?
318 Spruce St #1202 is in Waterloo, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 318 Spruce St #1202 been on the market?
318 Spruce St #1202 was listed today (October 23, 2026).
What is the price per square foot of 318 Spruce St #1202?
About $500 to $555 per square foot: the asking price of $499,900 over the 900–999 sq ft the listing gives as its size range.
Does 318 Spruce St #1202 have parking or a garage?
