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Listed 14 days ago

225 16th Avenue

Langstaff, Richmond Hill

$4,088,000

Detached|Bungalow-Raised
3 | 0 | 8
About this home

RARE DEVELOPMENT Opportunity on an approximately 100'x 300'lot (Aprox area 30,000 Sq ft) with Split R1/R6 Zoning. Property ideal for builders, developers, and land investors seeking future redevelopment or severance potential. Existing dwelling is being sold in "as is, where is" condition. Buyer to verify all zoning, permitted uses, lot creation, redevelopment potential, servicing capacity, and municipal approvals independently. Survey, zoning information, and other due diligence materials to be provided if available. Note similar properties on both sides Developed the existing town home complexes. Relevant Development documents and correspondence with the town and TRCA etc. on file. Survey on file (2018. A rare opportunity to acquire a premium-sized parcel in one of Richmond Hill's most desirable and evolving neighbourhoods. Please Do not enter the property without a confirmed showing.

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agent
Milad Momtaz Azad
(647) 510-8858
TypeDetached
StyleBungalow-Raised
Approx. AgeNot available
Size1100-1500 sq. ft.
Property Tax$12,000
Lot Size100 ft x 300 ft
mls© NumberN13587948
Listed ByREMAX YOUR COMMUNITY REALTY

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

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What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$20,924
Property tax
$1,000
Heat allowance
$150
Housing costs
$22,074 / mo

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

Down payment20% · $817,600
25-yr amortization

Income needed

$679,000

gross annual household income

Payment at 4%
$17,203 / mo
Cash down
$817,600

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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