The study evaluates some functional parameters of well water in a densely populated university town, Ago-Iwoye, South-western, Nigeria. Well water samples were collected at ten sites across the town. Analysis of the presence of Coli form count, Salmonella count, standard plate count, physicochemical properties (14 elements and 2 physical parameters) as indicators of water contaminants in the wells were carried out on water samples. 40% of the well samples were contaminated with coli form, whereas 20% were contaminated with salmonella, thus indicating the source of contamination (faecal contaminant). Further analysis revealed that most of the wells have their mineral values within the tolerant level according to WHO standard, however, the two most toxic chemicals from the recommendations of WHO were identified in well 2, 3, 5 and well 10 with values exceeding tolerant level of 0.05 mg/L for lead and 2.56 mg/L value for nitrate in well 2. Results confirm the presence of bacterial growth highly dangerous to life in these samples. Also, wells 2, 4, & 8 were contaminated with excess concentration of Fe mineral which could make the water tasty and have bacteria grow and wells 1, 2, 3, & 7 have excess concentrations of Cu mineral which could cause a stringent taste.