$5,080,000 - 56 Winchester Lane, Richmond Hill
Detached for Sale in Richmond Hill
- MLS Number
- N13155188
- Property Type
- Detached
- Status
- active
- Days on Site
- 23
- Bedrooms
- 7
- Bathrooms
- 8
- Square Feet
- 5,000+ sqft
- Neighbourhood
- Richmond Hill
- Listing Brokerage
- BAY STREET GROUP INC.
Welcome To 56 Winchester Lane - An Extraordinary Custom-Built Estate In The Heart Of Prestigious South Richvale, Richmond Hill's Most Coveted Luxury Enclave At Yonge & Hwy 7! A Rare Opportunity To Own Over 8,000 Sq Ft Of Exquisitely Crafted Living Space On A 72 x 151 Ft South-Facing Lot! | KEY HIGHLIGHTS: 6+1 Bedrooms | 8 Bathrooms | 3-Car Built-In Garage | Circular Driveway (13 Total Parking) | 1+1 Kitchens | Finished Walk-Out Basement With Apartment Potential | South-Facing Resort-Style Backyard | MAIN LEVEL: Grand limestone-floored foyer opens to a soaring cathedral living room with wrought-iron staircase. 10-ft ceilings throughout. Chef's dream kitchen with granite counters, premium cabinetry & breakfast area walk-out to deck. Formal dining room, family room overlooking pool, fully appointed home office with built-in bookcases - all with rich hardwood floors. | UPPER LEVEL: 9-ft ceilings throughout. Sumptuous primary suite with sitting room, his-and-hers walk-in closets & private terrace overlooking the backyard. Each additional bedroom features ensuite bath & ample closet space. | LOWER LEVEL: Finished walk-out with recreation room, media area & fitness zone. Second kitchen for in-law or nanny suite potential. | RESORT BACKYARD: Large inground pool with poolside cabana | Hot Tub | Outdoor Bar | Interlocked Patio & Manicured Gardens | South Exposure For Maximum Sun All Day! | PREMIUM INCLUSIONS: Sub-Zero Fridge | Viking 8-Burner Stove | Miele Oven, Dishwasher & Warmer | Sauna | EV Charger | Sprinkler System | Water Purifier & Treatment | Air Exchanger | All Custom Light Fixtures & Window Coverings. | LOCATION: Steps to top-ranked schools, parks, shopping & transit. Minutes to Hwy 404/407. A True Trophy Estate - Timeless Elegance Meets Modern Luxury. Don't Miss This Rare Gem!
Estimate your monthly payments for this property
Estimated Payment
$22,470.55/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.
56 Winchester Lane, 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 $1016/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 23 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.
Larger Home Realities
At 5,000 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.
Excellent Flexibility
With 7 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 8 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.