$2,749,000 - 245 Lakeland Crescent, Richmond Hill
Detached for Sale in Richmond Hill
36 days on market- MLS Number
- N13125234
- Property Type
- Detached
- Status
- active
- Days on Site
- 36
- Bedrooms
- 5
- Bathrooms
- 3
- Square Feet
- 2,500 - 2,999 sqft
- Neighbourhood
- Richmond Hill
- Listing Brokerage
- NEW WORLD 2000 REALTY INC.
Cottage Living in the City**This exquisite 2.5 storey waterfront property nestles on the pristine shores of Lake Wilcox, offering direct access to fishing, boating, and water sports. This lakeside property is just steps from Yonge Street, scenic walking trails, parks, and the community centre, it perfectly blends natural beauty with urban convenience.Featuring 4 plus 1 spacious bedrooms and 3 luxurious full bathrooms, this meticulously designed residence showcases timeless craftsmanship and elegant finishes throughout. Gleaming hardwood floors and a cozy gas fireplace grace every level, creating an inviting and warm ambiance. The lower level boasts a private office, a laundry room and a fully finished in law apartment, ideal for multigenerational living or hosting guests with privacy and style.The main floor impresses with a chef inspired kitchen featuring custom cabinetry, granite countertops, a double oven, and premium stainless steel appliances. The open concept dining and family areas maximize stunning lake views, inviting natural light to fill the space. Step outside to a lakeside deck with a remote controlled retractable screen and heater, perfect for year round entertaining.The expansive lower deck offers lounge seating, a gas fire table, and a bespoke outdoor bar designed for memorable gatherings and relaxing evenings. Professionally landscaped grounds with ambient lighting and a heated workshop complete this exceptional backyard oasis.Upstairs, retreat to the elegant master suite featuring a generous walk in closet and spa inspired ensuite with double vanity, walk in shower, and a luxurious soaker tub. Enjoy breathtaking panoramic lake views from your private upper deck, a perfect sanctuary to unwind.This rare waterfront property marries refined cottage charm with sophisticated city living, offering an unparalleled lifestyle of comfort, elegance, and unforgettable lakefront experiences.
Estimate your monthly payments for this property
Estimated Payment
$12,159.75/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.
245 Lakeland Crescent, Richmond Hill
Open in Google MapsUse the map controls to zoom, pan, and switch between map and satellite views. Drag to explore the neighbourhood.
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 $1100/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 36 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.
Excellent Flexibility
With 5 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Richmond Hill.
Bathroom Count Matters
With 3 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
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 $11,454 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.