$8,500/mo - 7 Elderwood Drive, Richmond Hill
Detached for Rent in Richmond Hill
51 days on market- MLS Number
- N13052564
- Property Type
- Detached
- Status
- active
- Days on Site
- 51
- Bedrooms
- 7
- Bathrooms
- 5
- Square Feet
- 3,500 - 3,999 sqft
- Neighbourhood
- Richmond Hill
- Listing Brokerage
- INTERNATIONAL REALTY FIRM, INC.
Welcome to this exceptional detached residence in the prestigious Bayview Hill community, set on a premium pie-shaped lot widening to an impressive 90 feet at the rear. Nestled on a quiet street, this elegant home offers close to 5,000 sq ft of living space above ground with a thoughtfully designed layout and upscale finishes throughout, including extensive woodwork and wainscoting, hardwood flooring on the second floor, and marble and hardwood flooring on the main level. A grand double-door entry opens to a stunning foyer featuring a circular staircase and chandelier. The main floor boasts 9-ft ceilings, custom flooring, formal living and dining rooms with crown moulding, pot lights, and two gas fireplaces. The spacious family room overlooks a beautifully landscaped backyard oasis. The gourmet kitchen is equipped with a centre island, built-in stainless steel appliances, and a bright breakfast area with seamless views of the backyard-perfect for everyday living and entertaining. Private main-floor office with built-in cabinetry. Mudroom, and laundry add functionality and convenience. Upstairs features 5 generously sized bedrooms, all with ensuite access. The luxurious primary suite offers a spa-inspired 6-piece ensuite with glass shower and double vanity. A fully finished basement with two staircases includes a large recreation area with wet bar, cedar room, additional bedrooms, and bathrooms. A separate in-law suite with its own kitchen, laundry, and separate entrance provides excellent flexibility and privacy. The backyard is a true retreat, complete with an in-ground salt pool, basketball court, stone BBQ, fire pit, and gazebo-ideal for entertaining. Located within top-ranking Bayview Hill Elementary and Bayview Secondary (IB Program), and just minutes to parks, shopping, Costco, and Hwy 404. Rare opportunity to own a luxury home in one of Richmond Hill's most sought-after neighborhoods.
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.
7 Elderwood Drive, Richmond Hill
Open in Google MapsUse the map controls to zoom, pan, and switch between map and satellite views. Drag to explore the neighbourhood.
How this lease stacks up against the local rental market
Estimated Monthly Budget
Things to Confirm Before Signing
· Are utilities included, or separate?
· How many parking spots are included?
· Is the landlord open to a 1-year or 2-year lease?
· Are pets and small renovations (paint, hooks) allowed?
· When was the last rent increase, if there is a prior tenant?
Utility estimates are approximate and vary by season, habits, and what the landlord includes. Always confirm inclusions with the listing agent.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Above Market Rent
At $8,500/mo, this is asking above the typical 4-bedroom rent of ~$4,200/mo in Richmond Hill. That premium needs to be justified — newer finishes, included parking, a premium location, or utilities included. I'll help you assess whether it's worth it or whether there's room to negotiate.
Negotiation Opportunity
At 51 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 3,500 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 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 5 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.