$2,189,000 - 42 Oak Avenue, Richmond Hill
Detached for Sale in Richmond Hill
New — Listed 6 days agoNeighbourhood: South Richvale
- MLS Number
- N13687174
- Property Type
- Detached
- Status
- active
- Days on Site
- 6
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 2,000 - 2,499 sqft
- Neighbourhood
- Richmond Hill
- Listing Brokerage
- INTERCITY REALTY INC.
Welcome to 42 Oak Ave, ideally situated in the prestigious South Richvale community of Richmond Hill. This beautiful bungalow, built in 1999, sits on an impressive 45 * 241.5 ft lot, offering exceptional depth, privacy and endless possibilities.The home features a functional, spacious layout with excellent potential for those looking to renovate, modernize and create a truly customized residence in one of Richmond Hill's most sought-after neighbourhoods. Whether you envision a sophisticated contemporary update or a complete transformation, this property provides a fantastic foundation to bring your vision to life.The clean, unfinished basement offers a blank canvas ready to be completed to suit your personal needs-perfect for additional living space, a recreation room, home gym, office, theatre, or guest accommodations.Additional highlights include an attractive interlock driveway and convenient accessibility with a lift providing access from the garage into the home.A rare opportunity to own a bungalow on an exceptionally deep lot in prestigious South Richvale. Enjoy the existing home as-is, renovate to your taste, or explore the incredible future potential this property and location have to offer. Close to excellent schools, 407 ETR, parks, shopping, restaurants, transit and major highways.
Estimate your monthly payments for this property
Estimated Payment
$9,682.69/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 South Richvale
South Richvale 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 South Richvale
- •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
South Richvale 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.
42 Oak Avenue, Richmond Hill
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Rental income estimator & ROI calculator
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 $1095/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.
Starter Home Potential
3 bedrooms works well for couples planning families or small families with one child. Consider whether you might outgrow the space in 5-7 years. If so, factor in potential moving costs when making your decision. Alternatively, some buyers convert a bedroom to an office and make it work long-term.
About South Richvale
I know South Richvale well from working with many buyers and sellers here. Each pocket has its own character - let me share what I've learned about this specific street and block. During our showing, I'll point out local amenities, school catchments, and what similar homes have sold for recently.
Investment Perspective
Looking at this as an investment: Richmond Hill properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $9,121 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.