Plan Approved! Ready For Building Permit! 331 and 329 Spruce, 2 Assembled Lots To Be PurchasedTogether! Approved Plan For A 9-Storey Student Residence Featuring 88 Bedrooms! ExceptionalOpportunity For Builders, Developers And Investor In Prime Location Just Steps From Campus!Currently Income Generating And Professionally Managed! Turnkey Operation For Investors LookingTo Hold And Benefit! Conveniently Located Within Walking distance Of University, Shopping,Public Transit, Employment Centres, Parks And More! Rare Chance To Secure A High-PotentialDevelopment Site In Sought-After Location!
9 bedrooms, 9 bathrooms, about 3,000 sq ft, works out to roughly $1,993 per square foot, the bed-to-bath ratio is generous. Chat with Zara if you'd like a deeper read on whether this multiplex fits your budget and timing.
Inside 331 Spruce St
Every detail from the listing, in one place.
Type
Multiplex
Style
2-Storey
Living space
3000-3500 sq ftas stated on the listing
Parking
8 spaces
Basement
Apartment, Walk-Up
Features & systems
Parking & garage
Parking spaces
8
Interior
Basement
Apartment · Walk-Up
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
2-Storey
Property class
Multiplex
331 Spruce St Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® X13230398$5,980,000
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 331 Spruce St 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
$29,378
/mo
based on the purchase price of $5,980,000
$1,196,000 cash
$4,784,000 financed
$4,029,384 total interest
Principal54%$4,784,000
Interest46%$4,029,384
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 9-bed homes for sale in Waterloo around $6.0M.
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−0.3%Compared with May 12 – Aug 10, 2026: prices down.
Based on 417 sales from Aug 10 – Nov 8, 2026 (306 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
331 Spruce St is listed at $5,980,000 (MLS® X13230398). Summitly updates the price as soon as the MLS® record changes.
Is $5,980,000 a good price for 331 Spruce St?
Summitly rates it Well Above Market: the asking price is 15% or more above 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 331 Spruce St changed?
No — 331 Spruce St is still listed at its original asking price of $5,980,000.
How many bedrooms and bathrooms does 331 Spruce St have?
331 Spruce St has 9 bedrooms and 9 bathrooms, with about 3,000–3,500 square feet of living space. It is a multiplex in Waterloo.
Is 331 Spruce St close to transit?
The nearest rapid-transit station is University of Waterloo Station (ION), about 1.3 km (about a 17-minute walk) in a straight line. Laurier - Waterloo Park Station is about 1.4 km (about a 17-minute walk), and Research and Technology Station is about 1.4 km (about a 18-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 331 Spruce St?
About $29,378 a month — principal and interest on $5,980,000 with 20% down ($1,196,000), 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 331 Spruce St compare with other homes in Waterloo?
Its asking price of $5,980,000 is about 748% above the median sold price in Waterloo over the last 90 days, $704,914, across 417 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 331 Spruce St been sold before?
Summitly has no earlier MLS® sale or lease of 331 Spruce St on record from the last two years. Older records aren't shown under TRREB rules.
Where is 331 Spruce St?
331 Spruce St is in Waterloo, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 331 Spruce St been on the market?
159 days — 331 Spruce St was listed on June 2, 2026.
What is the price per square foot of 331 Spruce St?
About $1,709 to $1,993 per square foot: the asking price of $5,980,000 over the 3,000–3,500 sq ft the listing gives as its size range.
