$2,599,999

For sale

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

181 Milky Way Drive, Richmond Hill (Observatory), Ontario, L4C5H3

5 beds6 baths4 parking4,250 ft²45 × 98 ft (4,428 sq ft) lot sizeListed 26 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 26 days, fresher than the Richmond Hill average of 46 days.

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Description

Luxury Living In Richmond Hill's Prestigious Observatory Hill Community! This Stunning Aspen Ridge Araya Model Offers Over 4,300 Sq Ft Above Grade Plus A Professionally Finished Basement. Featuring 4+1 Bedrooms, 6 Bathrooms And A Spacious Third-Floor Loft With Wet Bar, Full Bath And Walk-Out To A Private 280+ Sq Ft Balcony. The Gourmet Kitchen Showcases Custom Cabinetry, Quartz Waterfall Island, Brushed Gold Accents And Premium Sub-Zero, Wolf, Miele And Cove Appliances. Elegant Living Spaces Feature 10 Ft Main Floor Ceilings, 9 Ft Second Floor Ceilings, 10 Ft Ceilings In Three Bedrooms, 7-Inch Hardwood Flooring, Glass Staircase Railings, Designer Ceiling Details, 57 Pot Lights And Two Double-Sided Gas Fireplaces. The Luxurious Primary Suite Offers A Custom Walk-In Closet, Fireplace And Spa-Inspired 5-Piece Ensuite. The Finished Basement Features Heated Floors, Home Theatre, Recreation Area, Lounge And Bar. Additional Highlights Include Premium Window Coverings And Two HVAC Systems With Built-In Humidifiers. Approximately $350K In Builder Upgrades Plus Extensive Owner Improvements. Conveniently Located Near Bayview Secondary School, Parks, Shopping, Restaurants, GO Transit And Highways 404/407. An Exceptional Home Offering Luxury, Space And Comfort In A Prime Location! (id:66096)

Property Details

MLS®: N13884300
Property Type: Single Family
Zoning: R5
Bedrooms: 5
Beds (above / below): 4 above · 1 below
Bathrooms: 6
Half Baths: 1
Parking: 4
Interior Size: 4,250 ft²
Lot Size: 45 × 98 ft (4,428 sq ft)
Frontage: 45 ft
Storeys: 3
Basement: Finished, N/A
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Attached Garage, Garage
Fireplace: Yes
Ownership

Rooms

Main level

Dining room: 4.9 x 4.45 meters
Office: 3.35 x 3 meters
Kitchen: 4.6 x 6.65 meters
Eating area: 4.6 x 6.65 meters
Family room: 5.67 x 5.67 meters

Third level

Recreational, Games room: 3.05 x 3.47 meters
Loft: 6.46 x 3.9 meters

Basement

Recreational, Games room: 5.41 x 5.55 meters
Recreational, Games room: 4.64 x 9.67 meters

Features

Appliances: Washer, Refrigerator, Dishwasher, Stove, Dryer, Hood Fan, Window Coverings
Flooring: Hardwood, Laminate
Foundation: Concrete
Exterior: Brick, Stone
Lot Features: Carpet Free, In-Law Suite

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

26d

Richmond Hill (Observatory) listings, avg age

46d

Price / ft²

$612

List price

$2.60M

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 26 days, which is 20 days fresher than the city average of 46. Act while there is still low competition.

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Listed by RE/MAX EXCEL REALTY LTD. · MICHAEL CHAU

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L4C)

This home lists at $2,599,999, about 30.2× the local median household income of $86,000.

Carrying it typically needs a household income of about $507,871 (20% down, 25-yr amortization, stress-tested) — roughly 491% 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)

$2,599,999· $612/ft²

For sale

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Full Cost Breakdown

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Down Payment20% · $519,999.80

Min 20%50%

Mortgage payment$11,088/mo

Property tax (est.)$1,087/mo

Total monthly$12,175

Cash Needed to Close

Down payment (20%)$520,000

Land transfer tax$51,475

Est. closing costs$10,300

Total cash needed$581,775

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