$799,900 - 7 George Street, Richmond Hill
Detached for Sale in Richmond Hill
Neighbourhood: Oak Ridges
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- MLS Number
- N13782898
- Property Type
- Detached
- Status
- active
- Days on Site
- 23
- Bedrooms
- 2
- Bathrooms
- 1
- Square Feet
- 700 - 1,099 sqft
- Neighbourhood
- Richmond Hill
- Taxes (2026)
- $4,492
- Listing Brokerage
- RE/MAX HALLMARK REALTY LTD.
Attention Builders & Investors! Welcome to an exceptional opportunity in the highly sought-after Oak Ridges community of Richmond Hill. Existing bungalow and detached garage is situated on an impressive 50 ft x 157.58 ft lot on a quiet street with peaceful views of the Oak Ridge Meadow across the street and new custom homes beside. Whether you're looking to build your dream home or invest for the future, this property provides endless possibilities. Location is a standout feature. Enjoy the convenience of being just a short walk to shops, public transit, restaurants, parks, services, and the many amenities along Yonge Street. Close to Hwys 404, 400 & 7 as well as Golf courses. Everything you need is close at hand, while the established Oak Ridges setting offers a welcoming community atmosphere and easy access to the broader Richmond Hill area. For builders, the expansive 50 x 157.58 ft lot presents an exciting opportunity to explore your vision. This is a chance to unlock value in an established and desirable neighbourhood. Don't miss this rare opportunity to own a generously sized lot with a detached bungalow and garage in Oak Ridges. Bring your imagination, ideas, and vision - the possibilities are yours to explore!
Estimate your monthly payments for this property
Estimated Payment
$4,103.90/mo
Includes CMHC insurance ($22,317)
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 Oak Ridges
Oak Ridges 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 Oak Ridges
- •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
Oak Ridges 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.
7 George Street, 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
Premium Pricing
At $1143/sqft, this property is priced above the Richmond Hill average of $950/sqft. I'd want to see upgraded finishes, premium location, or recent renovations to justify this price point. During our showing, I'll point out exactly what you're paying extra for.
Market Position
At 23 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.
Efficient Living
At 700 sqft, this is a more compact space. The upside: lower utility bills, less maintenance, and easier cleaning. Consider how you'll use the space - built-in storage, multi-functional furniture, and good organization become important. Great for singles, couples, or those who prefer a low-maintenance lifestyle.
About Oak Ridges
I know Oak Ridges 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 $3,333 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.