$1,250,000

For saleJust listed

516 Lynett Crescent, Richmond Hill (Crosby) - Single Family for Sale

516 Lynett Crescent, Richmond Hill (Crosby), Ontario, L4C2V9

6 beds3 baths5 parking1,300 ft²50 × 100 ft (5,000 sq ft) lot sizeListed Today

Overview

This 6-bedroom, 3-bathroom home in Richmond Hill is for sale offering roughly 1,300 sq ft of space. It has been on the market 0 days, fresher than the Richmond Hill average of 74 days.

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Description

Exceptional Three-Unit Detached Property Situated in the highly desirable Crosby community of central Richmond Hill, this unique property sits on a generous 50 x 100 ft lot and offers an exceptional opportunity for investors or multi-generational families seeking additional rental income.Featuring three self-contained living units, each with its own private kitchen, bathroom, and laundry facilities, this property offers excellent rental income potential and outstanding flexibility.The main house offers 3+2 bedrooms & 2 bathrooms, while the detached garage behind features a separate Coach House above, providing a third independent rental unit complete with its own heating system, 60 amps electrical Panel, kitchen, bathroom, and laundry facilities.The property also features a 1.5-car garage, offering parking for one vehicle plus additional storage space. Conveniently located close to Highway 404, schools, parks, shopping centres, Asian supermarkets, banks, restaurants, community centres, hospital, GO Train station, and public transit, providing exceptional convenience for everyday living.Located within the highly Ranked Bayview S.S district. (id:66096)

Property Details

MLS®: N14149848
Property Type: Single Family
Bedrooms: 6
Beds (above / below): 4 above · 2 below
Bathrooms: 3
Parking: 5
Interior Size: 1,300 ft²
Lot Size: 50 × 100 ft (5,000 sq ft)
Frontage: 50 ft
Storeys: 1
Style: Bungalow
Basement: Apartment in basement, Separate entrance, N/A, N/A
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Detached Garage, Garage
Fireplace: Yes
Ownership: Freehold

Rooms

Main level

Living room: 3.66 x 3.43 meters
Kitchen: 4.73 x 2.79 meters
Dining room: 2.97 x 2.92 meters
Primary Bedroom: 4.11 x 2.96 meters
Bedroom 2: 3.33 x 2.75 meters
Bedroom 3: 3.1 x 2.75 meters

Second level

Bedroom: 5.94 x 5.14 meters
Kitchen: 2.61 x 2 meters
Living room: 5.94 x 5.15 meters

Basement

Features

Appliances: Washer, Refrigerator, Dishwasher, Stove, Dryer, Microwave, Hood Fan
Flooring: Tile, Laminate, Porcelain Tile
Foundation: Concrete
Exterior: Brick
Lot Features: Carpet Free

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

Richmond Hill (Crosby) listings, avg age

74d

Price / ft²

$962

List price

$1.25M

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 6-bed single family in Richmond Hill (Crosby) has been listed for 0 days, which is 74 days fresher than the city average of 74. Act while there is still low competition.

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Listed by RE/MAX EXCEL REALTY LTD. · KAREN NAN LUO

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L4C)

This home lists at $1,250,000, about 14.5× the local median household income of $86,000.

Carrying it typically needs a household income of about $244,169 (20% down, 25-yr amortization, stress-tested) — roughly 184% 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)

$1,250,000· $962/ft²

For sale

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Full Cost Breakdown

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Down Payment8% · $100,000

Min 8%50%

Mortgage payment$6,376/mo

↳ CMHC premium ($46,000 capitalized)

Property tax (est.)$483/mo

Total monthly$6,859

Cash Needed to Close

Down payment (8%)$100,000

Land transfer tax$21,475

Est. closing costs$6,250

Total cash needed$127,725

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