$3,070,000 - 27 Milky Way Drive, Richmond Hill
Detached for Sale in Richmond Hill
New — Listed 3 days agoNeighbourhood: Observatory
- MLS Number
- N13557586
- Property Type
- Detached
- Status
- active
- Days on Site
- 3
- Bedrooms
- 4
- Bathrooms
- 5
- Square Feet
- 3,500 - 3,999 sqft
- Neighbourhood
- Richmond Hill
- Listing Brokerage
- CENTURY 21 MYPRO REALTY
Welcome to one of the most extraordinary homes in prestigious Observatory Hill-a luxurious modern single-detached residence with 3700+ sf on an ultra-rare private pie-shaped ravine lot. Step directly from the walkout basement onto your tranquil backyard oasis overlooking the ravine, where deer wander by almost daily, creating a peaceful retreat unlike anywhere else.What truly sets this home apart is its one-of-a-kind layout. Enjoy a spacious 500+ sq. ft. third-floor loft and an exceptionally rare 360+ sq. ft. private open-air rooftop terrace. Thanks to the unique pie-shaped lot, the rooftop offers remarkable privacy-a feature you simply won't find in another Toronto home.Premium kitchen upgrades include 48-inch built-in Sub-Zero side-by-side refrigerator, upgraded Wolf gas cooktop, and built-in Samsung microwave and oven stack with one-touch steam cooking.Luxury continues with heated floors in both the walkout basement and primary ensuite. Relax in the upgraded freestanding soaker tub while enjoying your favorite music through the built-in Bluetooth speaker integrated into the bathroom fan, creating your own spa-like retreat. Both the main floor powder room and primary ensuite feature smart toilets with heated seats.Custom designer-built display and storage shelving with integrated luxurious LED mood lightingenhances both the first and second floors. An unobstructed skylight extending from the third floor fills the entire staircase with natural light, making every level feel bright, warm, and inviting.The spectacular third-floor loft is truly a home within a home. Complete with a full wet bar, custom cabinetry, and a full 4-piece bathroom, it's the perfect space for entertaining or spending an entire cozy weekend watching Netflix with your loved ones.Book your private showing today and experience this truly one-of-a-kind home for yourself.
Estimate your monthly payments for this property
Estimated Payment
$13,579.65/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Observatory
Observatory is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Observatory
- •Convenient location in Richmond Hill
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Observatory offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
27 Milky Way Drive, Richmond Hill
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Fair Market Value
At $877/sqft, this property is priced in line with current Richmond Hill market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Just Listed - Act Strategically
This property hit the market within the last week. In Richmond Hill's current market, desirable homes often receive multiple offers within 5-7 days. If you're seriously interested, I recommend booking a showing immediately. However, never let urgency override due diligence - we'll still do proper inspections.
Detached Home Advantages
Detached homes in Richmond Hill are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Larger Home Realities
At 3,500 sqft, this is a substantial home. Budget approximately $400-600/month more for utilities compared to an average-sized home. Maintenance costs scale with size too - roof, HVAC, and cleaning all cost more. That said, space is a luxury that's hard to add later, and larger homes often have better resale in family-oriented neighbourhoods.
Family-Friendly Layout
4 bedrooms hits the sweet spot for most families. You'll have room for 2-3 children plus a home office or guest room. This is the most sought-after configuration for families relocating to Richmond Hill. Good resale value as demand remains consistent.
Bathroom Count Matters
With 5 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.