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New6 days ago

181 Milky Way Drive

Observatory, Richmond Hill

$2,388,888

Detached|3-Storey
4 | 6 | 4
About this home

uxury Living In Richmond Hill's Prestigious Observatory Hill Community! This Stunning Aspen Ridge Araya Model Offers Over 4,300 Sq Ft Above Grade Plus A Professionally Finished Basement. Featuring 4+1 Bedrooms, 6 Bathrooms And A Spacious Third-Floor Loft With Wet Bar, Full Bath And Walk-Out To A Private 280+ Sq Ft Balcony. The Gourmet Kitchen Showcases Custom Cabinetry, Quartz Waterfall Island, Brushed Gold Accents And Premium Sub-Zero, Wolf, Miele And Cove Appliances. Elegant Living Spaces Feature 10 Ft Main Floor Ceilings, 9 Ft Second Floor Ceilings, 10 Ft Ceilings In Three Bedrooms, 7-Inch Hardwood Flooring, Glass Staircase Railings, Designer Ceiling Details, 57 Pot Lights And Two Double-Sided Gas Fireplaces. The Luxurious Primary Suite Offers A Custom Walk-In Closet, Fireplace And Spa-Inspired 5-Piece Ensuite. The Finished Basement Features Heated Floors, Home Theatre, Recreation Area, Lounge And Bar. Additional Highlights Include Premium Window Coverings And Two HVAC Systems With Built-In Humidifiers. Approximately $350K In Builder Upgrades Plus Extensive Owner Improvements. Conveniently Located Near Bayview Secondary School, Parks, Shopping, Restaurants, GO Transit And Highways 404/407. An Exceptional Home Offering Luxury, Space And Comfort In A Prime Location!

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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.

TypeDetached
Style3-Storey
Approx. AgeNot available
Size3500-5000 sq. ft.
Property Tax$13,043
Lot Size44.95 ft x 98.43 ft
mls© NumberN13884300
Listed ByRE/MAX EXCEL REALTY LTD.

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%
$12,227
Property tax
$1,087
Heat allowance
$150
Housing costs
$13,464 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $477,778
25-yr amortization

Income needed

$414,000

gross annual household income

Payment at 4%
$10,053 / mo
Cash down
$477,778

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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