271 LESTER Street Unit# 102

About this home.

Prime Investment Opportunity – Fully Furnished 5-Bedroom Unit Near Universities. Monthly Rental Income: $4,300 | Low Condo Fees | Covered Parking Included This turn-key 5-bedroom, 2-bathroom condo offers an exceptional investment opportunity in a highly sought-after building, steps from University of Waterloo and Wilfrid Laurier University. Designed to maximize rental income, this unit comes fully furnished with zero property management fees, ensuring hassle-free cash flow from day one.Key Features include: Spacious Living Area: Open-concept living, dining, and kitchen, fully furnished with modern finishes. Five Bedrooms: Each bedroom features large windows and under-bed storage, dresser drawers, providing functional and comfortable living spaces for tenants. Secure Building: 24-hour security and a well-managed building ensure a safe environment and high tenant retention. Prime Location: Walk to campus, shopping, restaurants, and other local amenities. Parking: Rarely available in this building, included with the unit. Included Furnishings & Appliances: Refrigerator, stove, dishwasher, microwave, hood fan, beds with mattresses, desks with chairs, under-bed storage cabinets, dining table with chairs, couch, chairs, coffee table, window coverings, and lighting fixtures. Perfect for investors seeking a reliable, high-demand rental property, this unit offers immediate possession and consistent income with a 6.23% Cap Rate. (id:59491)

The full record.

How this listing prices against Beechwood/University.

Beechwood/University was highly supplied this period, with 13 sales against 98 active listings, one of the loosest inventory setups in Waterloo. The average sale price was $621,462, well below the city average, homes took 34 days to sell, and deals closed at 94.02% of list, all signs of a softer market overall. Activity split between 5 freeholds and 8 condos, but the overwhelming amount of condo inventory is what defines the neighbourhood right now. This is a market with lots of choice and clear pressure on sellers to price realistically.

Estimate the monthly carry.