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New8 hours ago

75 Spruce Avenue

South Richvale, Richmond Hill

$1,648,000

Detached|2-Storey
3 | 3 | 6
About this home

EXCEPTIONAL VALUE, in one of Richmond Hill's most desirable and highly sought-after neighborhoods, SOUTH RICHVALE. Situated on a premium 10,882 sq. ft. (1/4 acre) south-facing lot, this property offers exceptional potential for investors, builders, and end-users alike. The existing home requires some TLC, but presents a solid opportunity to rent out and generate income in the short term while planning for future redevelopment. Whether you're looking to hold for 1-2 years as the market evolves or secure a prime piece of land in a prestigious area, this property checks all the boxes. Surrounded by luxury homes and ongoing redevelopment, this is a rare chance to buy at today's pricing and position yourself ahead of the next market upswing. The lot size, locating, and orientation provide an ideal canvas for a custom build when the timing is right. Motivated seller-bring your vision and take advantage of this strategic investment opportunity.

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agent
Angela Montano
(647) 283-2643
TypeDetached
Style2-Storey
Approx. Age31-50
Size2000-2500 sq. ft.
Property Tax$10,289
Lot Size45.02 ft x 241.94 ft
mls© NumberN13640034
Listed ByRE/MAX HALLMARK YORK GROUP 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%
$8,435
Property tax
$857
Heat allowance
$150
Housing costs
$9,443 / mo

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

Down payment20% · $329,600
25-yr amortization

Income needed

$291,000

gross annual household income

Payment at 4%
$6,935 / mo
Cash down
$329,600

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

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

Values and trends

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