$2,700,000

For sale

164 Milky Way Drive, Richmond Hill (Observatory) - Single Family for Sale

164 Milky Way Drive, Richmond Hill (Observatory), Ontario, L4C4Y3

5 beds6 baths5 parking4,250 ft²45 × 99 ft (4,433 sq ft) lot sizeListed 28 days ago

Overview

This 5-bedroom, 6-bathroom home in Richmond Hill is for sale offering roughly 4,250 sq ft of space. It has been on the market 28 days, fresher than the Richmond Hill average of 46 days.

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Description

Luxury three-storey detached home in Richmond Hill's sought-after Observatory Hill! Offering over 6,000 sq. ft., including the unfinished basement, this south-facing property features a rare three-car garage, two driveway spaces and no sidewalk. Four spacious bedrooms each offer a private ensuite. Highlights include 10-ft main-floor ceilings, hardwood throughout, a main-floor office, second-floor laundry and a family room with waffle ceiling and gas fireplace. The upgraded kitchen features premium Wolf, Sub-Zero and Asko appliances, a generous breakfast area and backyard walkout. A versatile third-floor loft and expansive unfinished basement offer endless possibilities. Interlocked driveway and backyard. Close to parks, schools, GO Transit, Highways 404/407, shopping and dining. (id:66096)

Property Details

MLS®: N13874004
Property Type: Single Family
Bedrooms: 5
Beds (above / below): 4 above · 1 below
Bathrooms: 6
Half Baths: 1
Parking: 5
Interior Size: 4,250 ft²
Lot Size: 45 × 99 ft (4,433 sq ft)
Frontage: 45 ft
Storeys: 2
Basement: Partially finished, N/A
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Garage
Fireplace: Yes
Ownership: Freehold
Property Tax

Rooms

Main level

Family room: 5.9 x 4.06 meters
Dining room: 4.94 x 4.8 meters
Office: 3.34 x 2.7 meters
Kitchen: 7.15 x 4.53 meters

Second level

Primary Bedroom: 5.47 x 5.32 meters
Bedroom 2: 4.85 x 4.15 meters
Bedroom 3: 4.99 x 4.16 meters
Bedroom 4: 4.25 x 3.83 meters

Third level

Loft: 4.72 x 4.12 meters

Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.

Features

Appliances: Washer, Refrigerator, Central Vacuum, Dishwasher, Oven, Dryer, Microwave, Cooktop, Freezer, Oven - Built-In, Hood Fan, Window Coverings
Flooring: Hardwood, Porcelain Tile
Foundation: Concrete
Exterior: Brick, Stone

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

28d

Richmond Hill (Observatory) listings, avg age

46d

Price / ft²

$635

List price

$2.70M

Homes here sell faster than most markets

Sold homes in this market spent an average of 35 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell close to asking price

Homes in this market sold for an average of 97.7 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This 5-bed single family in Richmond Hill (Observatory) has been listed for 28 days, which is 18 days fresher than the city average of 46. Act while there is still low competition.

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Listed by RE/MAX REALTRON REALTY INC. · AMIR JAFARPISHEH

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L4C)

This home lists at $2,700,000, about 31.4× the local median household income of $86,000.

Carrying it typically needs a household income of about $527,405 (20% down, 25-yr amortization, stress-tested) — roughly 513% above the area median.

Median household income: $86,000
Population: 74,636
Median age: 46
Owner / renter: 70% / 30%
Avg. household size: 2.6

Source: Statistics Canada, 2021 Census (FSA L4C)

$2,700,000· $635/ft²

For sale

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Full Cost Breakdown

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Down Payment20% · $540,000

Min 20%50%

Mortgage payment$11,515/mo

Property tax (est.)$1,088/mo

Total monthly$12,603

Cash Needed to Close

Down payment (20%)$540,000

Land transfer tax$53,975

Est. closing costs$10,600

Total cash needed$604,575

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