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South Richvale, Richmond Hill
$1,488,000
# South Richvale Opportunity - Live & Invest - Welcome to this bright and updated raised bungalow in the prestigious South Richvale community, located on highly sought-after Roosevelt Drive and surrounded by stunning multi-million-dollar custom homes. Situated on a deep, private lot backing onto mature greenery and good size L shape deck with access from Kitchen and Living room. This property offers an exceptional opportunity to live or invest.This well-maintained 3-bedroom raised bungalow features a practical, stair-friendly layout ideal for families or down-sizers seeking convenient one-level living. The spacious kitchen, generous principal rooms, abundant natural light, and fresh paint create a warm and inviting atmosphere. The primary bedroom includes a walk-in closet and a private ensuite for added comfort.The finished basement offers excellent income potential, allowing you to live on the updated main floor while generating rental income from the lower level.One of the property's most unique advantages is its elevated position on the uphill section of Roosevelt Drive. Beyond this property, many lots shown on the City's planning maps feature approximately 100-foot frontages, further enhancing the long-term appeal of the area. The mature, private backyard provides a peaceful setting, while the prestigious neighbourhood continues to attract luxury custom home development. Conveniently located close to top-ranking schools, parks, shopping, Golf Course, public transit, and major highways, this is an outstanding opportunity for end-users and investors.**Live now, rent for additional income, in one of Richmond Hill's most desirable luxury neighbourhoods.** Lots of upgrade including Furnace 2024, AC 2019, TWO sump pumps 2026.
No extras listed.
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This seller is holding back offers
Instead of reviewing offers as they come in, this seller has set offer instructions — a strategy often paired with attractive pricing to invite competing bids. Timing and preparation matter here; get in touch and we'll walk you through it.
| Type | Detached |
| Style | Bungalow-Raised |
| Approx. Age | Not available |
| Size | 1500-2000 sq. ft. |
| Property Tax | $8,903 |
| Lot Size | 46 ft x 150 ft |
| mls© Number | N13711158 |
| Listed By | KELLER WILLIAMS REFERRED URBAN REALTY |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
Schools
Could you afford this home?
What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $7,616
- Property tax
- $742
- Heat allowance
- $150
- Housing costs
- $8,508 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$262,000
gross annual household income
- Payment at 4%
- $6,262 / mo
- Cash down
- $297,600
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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