$998,000 - 525 Lynett Crescent, Richmond Hill
Detached for Sale in Richmond Hill
Neighbourhood: Crosby
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- MLS Number
- N13811586
- Property Type
- Detached
- Status
- active
- Days on Site
- 16
- Bedrooms
- 6
- Bathrooms
- 2
- Square Feet
- 1,100 - 1,499 sqft
- Neighbourhood
- Richmond Hill
- Lot Size
- 5,464 sqft
- Taxes (2025)
- $6,360
- Listing Brokerage
- ZOLO REALTY
Rare Upgraded Bungalow on a 56.67' x 100' Lot! One of the few bungalows in the area with expanded main-floor living space and a desirable layout, offering approximately 2,600 sq. ft. of total living area. Situated within highly sought-after school zones, including top-ranked Bayview Secondary School, Crosby Heights Public School, and Beverly Acres French Immersion School. Enjoy the convenience of being just steps from parks and public transit, and only minutes drive to the GO Station, Costco, Walmart, FreshCo, and major highways. The main floor features two bright living rooms with bay windows. One living room offers direct access to the backyard, allowing guests to enjoy fresh air without passing through the bedrooms, a rare and thoughtful layout not found in most similar homes. The finished basement offers abundant natural light and a private separate entrance. Historically, similar basements in the area have rented for $1,700-$2,000 per month. It includes three bedrooms, a 3-piece bathroom, a full second kitchen, above-grade windows, and a large living area complete with a cozy gas fireplace. The large backyard is a true oasis, perfect for family gatherings, childrens play, barbecues, and enjoying fresh fruit from the garden. This home is an ideal choice for families, investors, or builders, with excellent potential for future development. ***Photos have been virtually staged and enhanced. Actual condition and appearance of the property may vary.***
Estimate your monthly payments for this property
Estimated Payment
$5,120.26/mo
Includes CMHC insurance ($27,844)
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 Crosby
Crosby 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 Crosby
- •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
Crosby 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.
525 Lynett Crescent, 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 $907/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.
Market Position
At 16 days on site, this property has had reasonable exposure. It hasn't sold immediately (which often indicates overpricing), but isn't languishing either. There's likely room for a 3-5% negotiation from asking price.
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.
Excellent Flexibility
With 6 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Richmond Hill.
About Crosby
I know Crosby 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 $4,158 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.