$1,150,000

For sale

28 Lake Avenue, Richmond Hill (Oak Ridges Lake Wilcox) - Single Family for Sale

28 Lake Avenue, Richmond Hill (Oak Ridges Lake Wilcox), Ontario, L4E3G3

5 beds2 baths6 parking900 ft²50 × 150 ft (7,500 sq ft) lot sizeListed 13 days ago

Overview

This 5-bedroom, 2-bathroom home in Richmond Hill is for sale offering roughly 900 sq ft of space. Listed at $1,150,000, it is attractively priced about 19% below the $1,428,000 median asking price in Richmond Hill. It has been on the market 13 days, fresher than the Richmond Hill average of 45 days.

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Description

Location, Lot Size & Future Potential! Situated on a deep 50 x 150 ft lot fully renovated, just the third property from Yonge Street in the heart of Oak Ridges. Surrounded by established neighbourhoods and current and future developments, this property offers exciting possibilities for homeowners and investors. This detached home features 3+2 bedrooms, hardwood floors, an updated kitchen and a Bright and tastefully renovated finished walk-up basement with a second kitchen and separate entrance, main floor has a spacious kitchen with newer appliances and cabinets. Spacious backyard with plenty of room to enjoy. Steps to transit, shopping and amenities, with Lake Wilcox, parks and schools nearby. Move in, renovate, invest or explore future redevelopment possibilities. A compelling opportunity in a growing Richmond Hill community! (id:66096)

Property Details

MLS®: N14108040
Property Type: Single Family
Bedrooms: 5
Beds (above / below): 3 above · 2 below
Bathrooms: 2
Parking: 6
Interior Size: 900 ft²
Lot Size: 50 × 150 ft (7,500 sq ft)
Frontage: 50 ft
Storeys: 1
Basement: Finished, Walk-up, N/A, N/A
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: No Garage
Ownership: Freehold
Property Tax: $4,686.76/yr
Listed: 13 days ago

Rooms

Basement

Den
Family room: 4.26 x 3.73 meters
Kitchen: 8.38 x 3.3 meters
Bedroom

Main level

Living room: 4.59 x 3.83 meters
Kitchen: 3.81 x 3.3 meters
Eating area: 3.81 x 2.56 meters
Primary Bedroom: 3.86 x 3.35 meters

Upper Level

Bedroom 2: 3.47 x 3.22 meters
Bedroom 3: 4.67 x 3.25 meters

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

Features

Flooring: Hardwood, Laminate, Ceramic
Foundation: Block, Concrete
Exterior: Stone, Stucco

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

13d

Richmond Hill (Oak Ridges Lake Wilcox) listings, avg age

45d

Price / ft²

$1,278

List price

$1.15M

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 (Oak Ridges Lake Wilcox) has been listed for 13 days, which is 32 days fresher than the city average of 45. Act while there is still low competition.

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Listed by RE/MAX HALLMARK REALTY LTD. · MARCO MOMENI

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L4E)

This home lists at $1,150,000, about 9.1× the local median household income of $127,000.

Carrying it typically needs a household income of about $224,635 (20% down, 25-yr amortization, stress-tested) — roughly 77% above the area median.

Median household income: $127,000
Population: 54,606
Median age: 40.4
Owner / renter: 87% / 13%
Avg. household size: 3.3

Source: Statistics Canada, 2021 Census (FSA L4E)

$1,150,000· $1,278/ft²

For sale

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Full Cost Breakdown

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Down Payment7.83% · $90,000

Min 7.83%50%

Mortgage payment$5,877/mo

↳ CMHC premium ($42,400 capitalized)

Property tax (est.)$391/mo

Total monthly$6,267

Cash Needed to Close

Down payment (7.83%)$90,000

Land transfer tax$19,475

Est. closing costs$5,950

Total cash needed$115,425

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