231 Carrville Road
South Richvale, Richmond Hill
$8,800,000
Rare development opportunity in Richmond Hill. 231 Carrville Road offers approximately 45 feetof frontage on Carrville Road and is subject to an advanced development application. Significantplanning, traffic, engineering and supporting technical work has already been completed inconnection with the approval process. The sale will be conditional upon the Seller obtainingsite plan approval. The existing detached dwelling provides valuable underlying asset andholding value while approvals are finalized. An exceptional opportunity for developers, buildersand investors in one of Richmond Hill's desirable redevelopment corridors. Please note: One ofthe Listing Salespersons has an ownership interest in the property.
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| Type | Detached |
| Style | 2-Storey |
| Approx. Age | Not available |
| Size | 1500-2000 sq. ft. |
| Property Tax | $9,006 |
| Lot Size | 45 ft x 241.5 ft |
| mls© Number | N13652424 |
| Listed By | FOREST HILL REAL ESTATE INC. |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
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Could you afford this home?
What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $45,042
- Property tax
- $751
- Heat allowance
- $150
- Housing costs
- $45,943 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$1,414,000
gross annual household income
- Payment at 4%
- $37,032 / mo
- Cash down
- $1,760,000
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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