$2,580,000 - 5 Elder Street, Richmond Hill
Detached for Sale in Richmond Hill
140 days on market- MLS Number
- N12708572
- Property Type
- Detached
- Status
- active
- Days on Site
- 140
- Bedrooms
- 4
- Bathrooms
- 4
- Square Feet
- 3,000 - 3,499 sqft
- Neighbourhood
- Richmond Hill
- Listing Brokerage
- HOMELIFE LANDMARK REALTY INC.
Luxury Home In Prestigious Richland Community! Rare wide corner lot with a southeast-facing backyard, offering abundant morning sunlight and perfect afternoon shade - ideal for BBQs without harsh west exposure. Enjoy the low-maintenance composite decking and a quiet street setting with premium upgrades throughout. Custom-built kitchen with high-end built-in appliances and a stunning waterfall island. 10' ceiling on main floor, 9' ceilings on second floor and basement. Hardwood flooring and smooth ceilings throughout main floor. Elegant stained wood staircase with iron pickets. Unbeatable location - approx. 10-min walk to Costco, Home Depot, banks, library, Richmond Green High School & more. Future elementary school and park just 2-min walk. Easy access to Hwy 404.
Estimate your monthly payments for this property
Estimated Payment
$11,412.21/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.
5 Elder Street, Richmond Hill
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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 $860/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.
Negotiation Opportunity
At 140 days on site, this property has exceeded the typical selling timeline for Richmond Hill. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
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.
Larger Home Realities
At 3,000 sqft, this is a substantial home. Budget approximately $400-600/month more for utilities compared to an average-sized home. Maintenance costs scale with size too - roof, HVAC, and cleaning all cost more. That said, space is a luxury that's hard to add later, and larger homes often have better resale in family-oriented neighbourhoods.
Family-Friendly Layout
4 bedrooms hits the sweet spot for most families. You'll have room for 2-3 children plus a home office or guest room. This is the most sought-after configuration for families relocating to Richmond Hill. Good resale value as demand remains consistent.
Bathroom Count Matters
With 4 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.