221 Elgin Mills Road W, Richmond Hill

$1,175,900
221 Elgin Mills Road W

$1,175,900

New
4d
DetachedBungalow-Raised

221 Elgin Mills Road W, Richmond Hill

Total Monthly Obligation $5,731

Beds
2
Baths
2
Park
6
Sqft
1500-2000
DOM
4d
Score
15
Yield
3.3%
Cash on Cash
-9.9%
Cap Rate
2.4%
5Y IRR
7.8%
10Y IRR
8.5%
Property Type-Detached
MLS® Number-N14095630
Beds-2
Bathrooms-2
Size-1500-2000 sqft
Lot Size-53.05 × 226.57 ft
Listed on site-Oct 19, 2026
Style-Bungalow-Raised
Building Type-Detached
Taxes-$7,350 (2025)
Parking-8 - Detached
Basement-Finished with Walk-Out
Heating-Forced Air (Gas)
Brokerage-REMAX YOUR COMMUNITY REALTY
Cooling-Central Air
Laundry-No
Fireplace-No
Pool-None
Facing-South
Exterior-Brick
Roof-Asphalt Shingle
Foundation-Concrete, Block
Sewer-Sewer
Possession-TBA
Neighbourhood-Mill Pond
Title-Residential Freehold

No agent assigned

Welcome to this charming raised bungalow situated on a rare 50 x 226 ft lot in the prestigious Mill Pond neighborhood of Richmond Hill. Offering endless possibilities live in as-is, renovate, or build your dream home this property is a true gem for families and investors alike. Hardwood floors, and an eat-in kitchen overlooking the dining area with a walkout to the balcony. The main level boasts 2 bedrooms and a 4-piece bathroom, while the finished basement offers incredible versatility with a large recreation room, second kitchen, 3-piece bath, and laundry with cold storage. The expansive south-facing backyard provides ample space for outdoor living, landscaping, or future expansion. A 2-car detached garage plus parking for 6 vehicles ensures plenty of room for the whole family. Located in one of Richmond Hills most desirable communities, you're steps from Mill Pond Park, top-rated schools (St. Theresa of Lisieux CHS AP Program, Alexander Mackenzie HS IB Program), and all major amenities. Don't miss this exceptional opportunity in a sought-after location!

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(utilities, internet...)
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%
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Closing Costs

Mortgage Amount
$940,720
Land Transfer Taxes$19,993
Legal Fees (Est.)
$
Total cash required for closing$256,673

Total Monthly Obligation

$5,731/mo
Mortgage $4,743
Monthly Loss $4,483
Principal$1,248
Interest$3,495
Property Tax$613
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
2.0%12
Cash-on-Cash
-13.4%0
5-Year IRR
5.1%11
10-Year IRR
6.8%
Returns Index
6.9/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
15/ 100
Avoid•Pass

Strategy: Buy & Hold — Weights: CFI 35% · RI 25%
RKI 20% · GI 20%

Assumptions & Inputs
$/mo
%
$
yr
%
Cash Flow
Weight: 35%
Gross Rent
$38,796/yr
NOI
$23,066/yr
Net Cash Flow
-$2,821/mo
Cash Margin
-87.3%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.413
LTV Ratio
80.0%18
Vacancy Buffer
1.7 mo26
Risk Index
15.9/ 100

*This analysis is independently generated NOT provided by TREB or CREA.

Comparables

Properties near 221 Elgin Mills Road W

Time

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