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Listed 7 months ago

1602 - 181 King Street S

, Waterloo

$399,900

Condo Apartment |
1 | 1 | 1 | 0
About this home

An exceptional turnkey investment opportunity in one of Uptown Waterloo's most sought-after buildings. This unit offers a truly hands-off ownership experience, featuring a secure, long-term lease in place for 5+ years, ensuring stable and predictable income from day one. What distinguishes this property is its fully managed structure. The tenant-an established and reputable company-not only occupies the unit but also assumes all property management responsibilities. This comprehensive arrangement is seamlessly integrated into the monthly rental income, providing investors with a completely passive, worry-free investment. Ideal for those seeking long-term stability, minimal involvement, and consistent returns in a prime urban location, this is a rare opportunity to acquire a secure, low-maintenance asset in a high-demand market.

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agent
Jonathan Lee
(647) 983-0770
TypeCondo Apartment
Style1 Storey/Apt
Approx. Age6-10
Size700-799 sq. ft.
Maintenance Fees$746
LockerNone
BalconyEnclosed
ExposureEast
Parking TypeUnderground
Parking Spaces1
Parking FeaturesNone
Property Tax$4,535
mls© NumberX12910602
Listed ByCORCORAN HORIZON REALTY
Common Elements Included
Building Insurance Included

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

Could you afford this home?

What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$2,047
Property tax
$378
Heat allowance
$150
Condo fees, half counted
$373
Housing costs
$2,948 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $79,980
25-yr amortization

Income needed

$91,000

gross annual household income

Payment at 4%
$1,683 / mo
Cash down
$79,980

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

Values and trends

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Comparable sales

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