56 Sunshine Drive, Richmond Hill, ON
Observatory, Richmond Hill · MLS® N13721120
About this home
In short
- Welcome to 56 Sunshine Dr.
- This beautiful 3-bedroom, 3-bathroom detached home offers 2-storey living in the heart of Richmond Hill.
- Hardwood flooring flows throughout the living, dining, and bedrooms.
- The finished basement provides additional living space, including a 4th bedroom with a walk-in closet and a 3-piece bathroom.
- Ideally located just steps from Yonge Street, shopping, restaurants, Hillcrest Mall, schools, and public transit, with easy access to Hwy 404, Hwy 407, and Hwy 7.
Welcome to 56 Sunshine Dr! This beautiful 3-bedroom, 3-bathroom detached home offers 2-storey living in the heart of Richmond Hill. Bright, spacious, and well maintained, the home has been freshly painted and is truly move-in ready. Featuring a gorgeous kitchen with granite countertops, pot lights, and a convenient breakfast area. Hardwood flooring flows throughout the living, dining, and bedrooms. The living room offers a walk-out to a large deck-perfect for outdoor entertaining and relaxation. The finished basement provides additional living space, including a 4th bedroom with a walk-in closet and a 3-piece bathroom. Ideally located just steps from Yonge Street, shopping, restaurants, Hillcrest Mall, schools, and public transit, with easy access to Hwy 404, Hwy 407, and Hwy 7. A fantastic opportunity in a highly desirable Richmond Hill location!
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- N13721120
- Bedrooms
- 3+1 (4 total)
- Bathrooms
- 3 (1 half)
- Size
- 1100-1500 sq ft
- Lot
- 29.53 × 100.16 ft
- Cross streets
- Yonge / Observatory
- Parking
- 1 garage · 3 parking (attached)
- Driveway
- Private
- Basement
- Finished
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Unknown
- Roof
- Unknown
- Sewer
- Sewer
- Property tax
- $4,713 / 2026
- Days on market
- 52
- Listing brokerage
- CENTURY 21 LEADING EDGE REALTY INC.
Rooms
hardwood floor · overlooks backyard
Listed at $1,098,000. Going by how homes in Observatory and the wider GTA have actually closed against their asking prices (about 97%, 5 local closings in 90 days), the likely sale price is near $1.07M, if it sells. A realistic range is $998K to $1.20M.
Independent value check: $905K. Without looking at the asking price, our model values the home itself about 18% below the ask (homes like it typically land between $848K and $948K).
Why $905K. The typical detached home sold in Observatory over the past year went for about $2.17M (34 sales). What sets this one apart:
- ▼ Lowers it stronglyIts tax bill, which follows the city's own assessment, is $4,713 a year; the typical home sold here pays about $10,100.
- ▼ Lowers it stronglyIt is 1,100 to 1,500 sq ft; the typical home sold here is 3,000 to 3,500.
- ▼ Lowers it3+1 bedrooms and 3 baths, against 4+1 and 5 typically.
- ▼ Lowers it slightly1 garage and 3 total parking spaces, against 2 and 4 typically.
Longer on the market than typical. 52 days on the market against about 24 for homes like it here, and asking 21% above where comparable closings put it.
Total price vs nearby homes. Likely closing about $1.07M, from 5 recent closings in this pocket.
The market behind the math:
About 3 months of inventory: 5 detached homes for sale in the area against 5 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $845/sqft against an area asking average of $673/sqft.
How this estimate is builtthe short version
This figure comes from a model built on about 44,000 recent GTA sales. It weighs this home’s tax assessment, size, age, location and features against what homes like it actually sold for, including sales in this neighbourhood.
It never sees the asking price. The 5 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $1.02M. Condition and finishes remain an in-person call.
What the listing highlights2 points to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Finished basement: added living space, worth checking ceiling height and that the work was permitted. Value driver
- Hardwood floors: quality hardwood is durable and broadly desirable. Lifestyle
Read this with carewhy it’s an estimate, not an appraisal
There were not many closely comparable homes right in Observatory, so I widened the search to the surrounding area.
Based on 5 comparable homes that sold in Observatory over the past two years, from 65 closings there.
For sale
For sale
For sale
For sale
For sale
For sale
For sale
For saleNothing closely matching this home is listed nearby right now, so these are the nearest detached listings on the market. Homes like this one have recently closed around $905K, which is where my estimate comes from.
Per square foot, these ask about $644/sqft; this home lists at $845/sqft. Size is part of the price story, not just the sticker.
The 5 closest of 8 active listings nearby.
See all comparable homesSold price trend
Median sold price for detached homes in Richmond Hill: $1.44M in September 2026, down 4% from a year ago, on 948 closings in 12 months.
Line: median sold price, each month averaged with its neighbours and weighted by closings. Bars: closings that month. Richmond Hill as a whole: the neighbourhood alone has too few closings for a line of its own.
Month by month
| Month | Median sold | Closings |
|---|---|---|
| October 2025 | $1.58M | 86 |
| November 2025 | $1.47M | 77 |
| December 2025 | $1.68M | 48 |
| January 2026 | $1.48M | 52 |
| February 2026 | $1.52M | 57 |
| March 2026 | $1.49M | 70 |
| April 2026 | $1.50M | 73 |
| May 2026 | $1.46M | 114 |
| June 2026 | $1.50M | 119 |
| July 2026 | $1.50M | 92 |
| August 2026 | $1.48M | 80 |
| September 2026 | $1.44M | 80 |
Neighbourhood & location
Observatory, Richmond Hill, ON
Enter a workplace or destination and we’ll show the door-to-door time by car, transit and bike.
How asking prices compare in the closest areas to this home. Longer bars mean a pricier market.
Typical asking price of active listings of the same type, per area (outliers removed). Richmond Hill.
Get the full neighbourhood report (schools, parks, transit & safety) →
Affordability & Mortgage
Income needed assumes a ~32% GDS ratio; weekly is mortgage principal & interest only. Price ÷ income is the home price over the income needed. Fixed reference assumptions so listings compare on equal footing, not a lending decision.
Calculate and customize your mortgage and other expenses
Adjust the down payment, rate, and amortization, and add property tax, condo fees, and heating to see your true monthly cost.
Your numbers
Conventional (20%+ down). Best insured 5-year fixed 4.34% via Ratehub.ca (as of October 20, 2026); conventional rates run a little higher.
Mortgage amount $878,400 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $4,857
- Property tax
- $393
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $5,250
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $18,435
- Estimated closing costs
- $18,435
Plus your down payment of $219,600. Legal fees, title insurance, and adjustments are extra and vary by deal.
Mortgage stress test
Lenders qualify you at the greater of your rate plus 2% or 5.25%. You do not pay this rate. It just shows you could still handle payments if rates rose, so aim to stay comfortable at this higher number.
Over the full 25 years
At the end of your 5-year term
- Total paid over the term
- $291,409
- Principal paid down
- $107,324
- Interest paid
- $184,085
- Balance remaining
- $771,076
Talk to Team Asgarian about your options
Rates and programs change often. We will connect you with a trusted mortgage professional and build a plan that fits your budget and goals.
Estimates only, not a mortgage quote or pre-approval. Figures use Canadian semi-annual compounding, current minimum down-payment rules, CMHC premium tiers, and Ontario (plus Toronto, when selected) land transfer tax. Actual rates, taxes, insurance, and closing costs vary by lender and property. Confirm every number with your mortgage professional.
Investor snapshot
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersThe last 8 whole-home leases in Observatory signed at a median of $3,517 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $3,491. The gross yield above is on the asking price, before taxes and upkeep; the cap rate is after them. A finished basement or second suite can push real rent above it. Taxes, fees, and vacancy vary by property, and cap rate is before financing.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of CENTURY 21 LEADING EDGE REALTY INC.. MLS®/PropTx.