$1,588,800

For sale

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8 Elmsley Drive, Richmond Hill (Observatory) - Single Family for Sale

8 Elmsley Drive, Richmond Hill (Observatory), Ontario, L4C8N1

6 beds4 baths6 parking ft²

51 Meteorite Street, Richmond Hill (Observatory), Ontario, L4C4L9

4 bd5 ba5 pk4,250 ft²Lot size 39 × 108 ft (4,225 sq ft)

Listed by CENTURY 21 LANDUNION REALTY INC.

25 Cygnus Drive, Richmond Hill (Observatory), Ontario, L4C8P1

For sale

16 days ago

$1.70M

25 Cygnus Drive, Richmond Hill (Observatory), Ontario, L4C8P1

6 bd4 ba5 pk2,750 ft²Lot size 53 × 120 ft (6,359 sq ft)

Listed by RE/MAX HALLMARK REALTY LTD.

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

For sale

25 days ago

$2.60M

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

5 bd6 ba4 pk4,250 ft²Lot size 45 × 98 ft (4,428 sq ft)

Listed by RE/MAX EXCEL REALTY LTD.

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

For sale

28 days ago

$2.70M

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

5 bd6 ba5 pk4,250 ft²Lot size 45 × 99 ft (4,433 sq ft)

Listed by RE/MAX REALTRON REALTY INC.

Investment analysis

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$1,588,800

Richmond Hill

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Overview

This 6-bedroom, 4-bathroom home in Richmond Hill is for sale offering roughly 2,750 sq ft of space. Listed at $1,588,800, it is attractively priced about 16% below the $1,890,000 median asking price in Richmond Hill. It has been on the market 35 days, fresher than the Richmond Hill average of 46 days.

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Description

4+2 bedroom, 4 bathroom home offers a functional layout in a highly sought-after Richmond Hill neighborhood. Close to Bayview Secondary School, parks, and many quality homes. Features include hardwood flooring, a bright family room with a wood-burning fireplace, and a spacious kitchen. The second floor offers generously sized bedrooms, including a large primary bedroom with a sitting area. The finished basement includes 2 bedrooms, a kitchen, and a bathroom, providing additional living space. The private backyard offers room to relax, garden, or entertain. A great opportunity in an established family-friendly neighborhood. (id:66096)

Property Details

MLS®: N13845102
Property Type: Single Family
Bedrooms: 6
Beds (above / below): 4 above · 2 below
Bathrooms: 4
Half Baths: 1
Parking: 6
Interior Size: 2,750 ft²
Lot Size: 48 × 103 ft (4,934 sq ft)
Frontage: 47 ft
Storeys: 2
Basement: Finished, N/A
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Garage
Fireplace: Yes
Ownership: Freehold
Property Tax: $7,879/yr
Listed: 35 days ago

Rooms

Main level

Living room: 3.36 x 5.65 meters
Dining room: 3.36 x 4.26 meters
Family room: 3.64 x 5.5 meters
Kitchen: 3.45 x 4.41 meters
Eating area: 3.45 x 2.5 meters
Laundry room: 2.41 x 1.75 meters
Foyer: 5.03 x 4.54 meters

Second level

Bedroom 4: 3.42 x 3.37 meters
Primary Bedroom: 4.22 x 6.1 meters
Bedroom 2: 3.48 x 4.53 meters
Bedroom 3: 3.45 x 4.07 meters

Basement

Kitchen: 3.48 x 4.97 meters
Recreational, Games room: 3.56 x 7.19 meters
Bedroom: 3.28 x 4.37 meters
Bedroom 2: 3.33 x 5.32 meters

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

Market Timing

Days on market

35d

Richmond Hill (Observatory) listings, avg age

46d

Price / ft²

$578

List price

$1.59M

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.

Area context

Neighbourhood profile (L4C)

This home lists at $1,588,800, about 18.5× the local median household income of $86,000.

Carrying it typically needs a household income of about $310,348 (20% down, 25-yr amortization, stress-tested) — roughly 261% 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)

$1,588,800· $578/ft²

For sale

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Full Cost Breakdown

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Down Payment20% · $317,760

Min 20%50%

Mortgage payment$6,776/mo

Property tax (est.)$657/mo

Total monthly$7,432

Cash Needed to Close

Down payment (20%)$317,760

Land transfer tax$28,251

Est. closing costs$7,266

Total cash needed$353,277

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Rates via our partner mortgage brokers at iShopRates · Estimates only, not financial advice

8 Elmsley Drive, Richmond Hill (Observatory) - Single Family for Sale

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Description

Property Details

Rooms

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Market Timing

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Neighbourhood profile (L4C)

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