56 May Avenue, Richmond Hill, ON
North Richvale, Richmond Hill · MLS® N13772570
About this home
In short
- Elegant custom home offering over 7,600 sq. ft. of living space on a deep, wooded lot with exceptional privacy.
- The open-concept layout includes a foyer with a glass-panel staircase, skylight, and adjoining library.
- The chef-inspired main kitchen features a large island, Wolf range, Sub-Zero refrigerator, and walkout to a patio with a covered porch.
- The lower level offers a recreation room, wine cellar, second full kitchen equipped with Thermador appliances, second laundry room, infrared and red-light therapy...
- Additional features include radiant heated floors, a heated driveway, two furnaces, and a security camera system.
Elegant custom home offering over 7,600 sq. ft. of living space on a deep, wooded lot with exceptional privacy. Thoughtfully finished across all three levels with wainscotting, coffered ceilings, recessed lighting, and elegant Restoration Hardware chandeliers throughout. The open-concept layout includes a foyer with a glass-panel staircase, skylight, and adjoining library. The chef-inspired main kitchen features a large island, Wolf range, Sub-Zero refrigerator, and walkout to a patio with a covered porch. All four bedrooms are generously sized with spacious dressing areas and ensuites. The lower level offers a recreation room, wine cellar, second full kitchen equipped with Thermador appliances, second laundry room, infrared and red-light therapy sauna, and home theatre. Additional features include radiant heated floors, a heated driveway, two furnaces, and a security camera system.
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- N13772570
- Bedrooms
- 4+1 (5 total)
- Bathrooms
- 7 (1 half)
- Size
- 5,000 sq ft
- Lot
- 65 × 203 ft
- Cross streets
- May ave/Yonge st
- Parking
- 3 garage · 10 parking (attached)
- Basement
- Finished, Walk-Out
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick, Stone
- Foundation
- Concrete
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $19,759 / 2026
- Days on market
- 39
- Listing brokerage
- COMFREE
Rooms
No automatic estimate is shown here: there are not enough closely comparable recent sales nearby to support one.
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North Richvale, Richmond Hill, ON
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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
Homes over $1.5M can't be insured, so 20% down or more is required.
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 $3,519,200 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $19,458
- Property tax
- $1,647
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $21,105
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $96,450
- Estimated closing costs
- $96,450
Plus your down payment of $879,800. 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
- $1,167,496
- Principal paid down
- $429,981
- Interest paid
- $737,514
- Balance remaining
- $3,089,219
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
Income potential: the basement has a separate entrance, which often supports a rentable in-law or second suite. That can lift real rent well above the figure above and help carry the mortgage. Ask us about permitted use in this area.
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersEstimates only. Rent is modelled on above-grade size and local norms, so a finished basement or second suite (a separate entrance often means one) can push real rent well above this. Taxes, fees, and vacancy vary by property, and cap rate is before financing. A starting point, not a final number, let us run the real ones with you.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of COMFREE. MLS®/PropTx.