$1,218,800 - 221 Elgin Mills Road, Richmond Hill
Detached for Sale in Richmond Hill
- MLS Number
- N13146728
- Property Type
- Detached
- Status
- active
- Days on Site
- 30
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 1,100 - 1,499 sqft
- Neighbourhood
- Richmond Hill
- Listing Brokerage
- REMAX YOUR COMMUNITY REALTY
Welcome to this charming raised bungalow situated on a rare 50 x 226 ft lot in the prestigious Mill Pond neighborhood of Richmond Hill. Offering endless possibilities live in as-is, renovate, or build your dream home this property is a true gem for families and investors alike. Hardwood floors, and an eat-in kitchen overlooking the dining area with a walkout to the balcony. The main level boasts 2 bedrooms and a 4-piece bathroom, while the finished basement offers incredible versatility with a large recreation room, second kitchen, 3-piece bath, and laundry with cold storage. The expansive south-facing backyard provides ample space for outdoor living, landscaping, or future expansion. A 2-car detached garage plus parking for 6 vehicles ensures plenty of room for the whole family. Located in one of Richmond Hills most desirable communities, you're steps from Mill Pond Park, top-rated schools (St. Theresa of Lisieux CHS AP Program, Alexander Mackenzie HS IB Program), and all major amenities. Don't miss this exceptional opportunity in a sought-after location!
Estimate your monthly payments for this property
Estimated Payment
$5,391.16/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Richmond Hill
Richmond Hill is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Richmond Hill
- •Convenient location in Richmond Hill
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Richmond Hill offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
221 Elgin Mills Road, Richmond Hill
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Rental income estimator & ROI calculator
Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Fair Market Value
At $1108/sqft, this property is priced in line with current Richmond Hill market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Market Position
At 30 days on site, this property has had reasonable exposure. It hasn't sold immediately (which often indicates overpricing), but isn't languishing either. There's likely room for a 3-5% negotiation from asking price.
Detached Home Advantages
Detached homes in Richmond Hill are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Investment Perspective
Looking at this as an investment: Richmond Hill properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $5,078 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.
Let's See It Together
Photos only tell part of the story. During our showing, I'll point out things the camera doesn't capture: neighbourhood feel, natural light quality, traffic noise, and overall condition. I'll also share what comparable homes have sold for and help you craft a winning strategy if you decide to move forward.