$725,000

For sale

#2 7 Phelps Lane, Richmond Hill (Oak Ridges) - Single Family for Sale

#2 7 Phelps Lane, Richmond Hill (Oak Ridges), Ontario, L4E1J4

3 beds3 baths1 parking1,300 ft²$375/mo condo feeListed 13 days ago

Overview

This 3-bedroom, 3-bathroom condo in Richmond Hill is for sale offering roughly 1,300 sq ft of space. Listed at $725,000, it is attractively priced about 26% below the $975,000 median asking price in Richmond Hill. It has been on the market 13 days, fresher than the Richmond Hill average of 59 days.

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Description

Stylish and Chic 3-bedroom, 3-full-bath townhouse in a prestigious spot in Richmond Hill that offers the perfect blend of urban living andrelaxation. Step inside and feel the natural light flooding through floor-to-ceiling windows, smooth 9-ft ceilings, elegant Oak staircases, and sleek,beautiful vinyl flooring. Enjoy entertaining on your private, remarkable rooftop with stunning views. The rooftop terrace and two balconies on the2nd and 3rd floors offer ample outdoor space for relaxation and entertainment. Head to the primary bedroom with its 3pc ensuite and balconyaccess. The owner spent 50,000 to add a main floor Bedroom with a full washroom and multiple upgrades. Laundry is conveniently located onthe upper floor. Nearby, discover parks, shops, fine restaurants, and esteemed schools like Academy for Gifted Children, with easy access toToronto, Gormely Go station, and major highways; commuting is a breeze. This property offers an excellent opportunity to own at a reasonableprice and experience living at its finest in the heart of Richmond Hill! (id:66096)

Property Details

MLS®: N14107644
Property Type: Single Family
Bedrooms: 3
Beds (above / below): 3 above · 0 below
Bathrooms: 3
Parking: 1
Interior Size: 1,300 ft²
Storeys: 2
Basement: None
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Garage
Fireplace: Yes
Condo Fee: $375/mo
Fee Includes: Common Area Maintenance, Parking
Ownership: Condo/Strata
Property Tax: $4,545.83/yr
Listed

Rooms

Second level

Living room
Dining room
Kitchen
Bedroom 3
Bathroom

Third level

Primary Bedroom
Bedroom 2
Bathroom

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

Features

Flooring: Vinyl
Exterior: Brick, Stone
Lot Features: Carpet Free

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

13d

Richmond Hill (Oak Ridges) listings, avg age

59d

Price / ft²

$558

List price

$725K

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 3-bed single family in Richmond Hill (Oak Ridges) has been listed for 13 days, which is 46 days fresher than the city average of 59. Act while there is still low competition.

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Listed by AIMHOME REALTY INC. · HATEM BAKHIT

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L4E)

This home lists at $725,000, about 5.7× the local median household income of $127,000.

Carrying it typically needs a household income of about $141,618 (20% down, 25-yr amortization, stress-tested) — roughly 12% 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)

$725,000· $558/ft²

For sale

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Full Cost Breakdown

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Down Payment6.55% · $47,500.00

Min 6.55%50%

Mortgage payment$3,756/mo

↳ CMHC premium ($27,100 capitalized)

Property tax (est.)$379/mo

Condo fee$375/mo

Total monthly$4,510

Cash Needed to Close

Down payment (6.55%)$47,500

Land transfer tax$10,975

Est. closing costs$4,675

Total cash needed$63,150

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