225 Carrville Road
South Richvale, Richmond Hill
$8,800,000
Rare development opportunity in the heart of Richmond Hill. 225 Carrville Road boastsapproximately 90 feet of frontage on Carrville Road and is subject to an advanced developmentapplication. Extensive planning, traffic, engineering and supporting technical work has alreadybeen completed in connection with the approval process. The sale will be conditional upon theSeller obtaining site plan approval. The existing detached dwelling provides valuable underlyingasset and holding value while approvals are finalized. An exceptional opportunity fordevelopers, builders and investors in one of Richmond Hill's most active redevelopment corridors.
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| Type | Detached |
| Style | Bungalow |
| Approx. Age | Not available |
| Size | 2000-2500 sq. ft. |
| Property Tax | $12,679 |
| Lot Size | 90 ft x 241.5 ft |
| mls© Number | N13652628 |
| 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
- $1,057
- Heat allowance
- $150
- Housing costs
- $46,249 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$1,423,000
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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