$4,679,000 - 566 Sunset Beach Road, Richmond Hill
Detached for Sale in Richmond Hill
- MLS Number
- N13153182
- Property Type
- Detached
- Status
- active
- Days on Site
- 24
- Bedrooms
- 8
- Bathrooms
- 6
- Square Feet
- 3,500 - 3,999 sqft
- Neighbourhood
- Richmond Hill
- Listing Brokerage
- RIGHT AT HOME REALTY
Discover the potential for luxury at 566 Sunset Beach Road, a prime property on the prestigious south side of Lake Wilcox. Currently home to a charming traditional, 7+1 bedroom / 5+1 bathroom family residence, this .75-acre lot offers breathtaking Lake Wilcox views from most rooms and private lake access across the 131 feet of lake frontage, setting the stage for a future multi-family luxury estate. Nestled in one of Richmond Hills' most desirable neighbourhoods within the GTA, this location provides easy access to land and water sports without the long commute north, perfect for a lifestyle of relaxation and recreation across all four seasons.The existing home, originally a builder's showcase, has been lovingly maintained by the current owners for 27 years. It features a 2-bedroom in-law / teenager suite apartment above the 3-car garage, ideal for extended family or guests, and a self-contained nanny suite on the lower level with a bedroom, kitchen, and sitting / dining areas. Additionally, there is a large recreation room with a wood-burning fireplace and a walkout to a ground-level swim-spa (offering hot tub and swim against the current options), gazebo, dry boathouse, fire pit and the stunning lake.The south side of Lake Wilcox is celebrated for its sandy, shallow access, offering a superior experience compared to the north. Set high above the manicured & landscaped lawns, this property provides a serene retreat, even during nature's most intense storms. With its R3/N1 zoning, the property presents endless possibilities for customization, allowing you to create a contemporary luxury home that reflects your vision.
Estimate your monthly payments for this property
Estimated Payment
$20,696.80/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.
566 Sunset Beach Road, 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
Premium Pricing
At $1337/sqft, this property is priced above the Richmond Hill average of $950/sqft. I'd want to see upgraded finishes, premium location, or recent renovations to justify this price point. During our showing, I'll point out exactly what you're paying extra for.
Market Position
At 24 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 3,500 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 8 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 6 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.