56 Birch Avenue, Richmond Hill, ON
South Richvale, Richmond Hill · MLS® N13786918
About this home
In short
- Incredible & rare opportunity in the prestigious South Richvale community.
- Over 3,700 sq ft above grade space with an additional 2,000 sq ft finished basement space, 1+2 kitchens 4+2 bedrooms 3+2 bathrooms, 3 separate laundry rooms, 3...
- Addition on main floor - kitchen, bedroom, 4pc bathroom, plus lower level recreation room/above grade windows, with laundry room.
- Separate furnace in addition.
- Steps to shopping, transit, highways, GO, schools, places of faith, libraries, community centres, pools.
Incredible & rare opportunity in the prestigious South Richvale community! This mature custom-built 2-storey home sits on a premium 52 x 204 ft lot on a quiet dead-end street, offering exceptional privacy and future potential. Over 3,700 sq ft above grade space with an additional 2,000 sq ft finished basement space, 1+2 kitchens 4+2 bedrooms 3+2 bathrooms, 3 separate laundry rooms, 3 separate entrances plus garage access to home. Main floor - kitchen with walk-out to backyard, living room & dining room, family room, 3pc bathroom and laundry room. Addition on main floor - kitchen, bedroom, 4pc bathroom, plus lower level recreation room/above grade windows, with laundry room. Separate furnace in addition. Second floor - 4 bedrooms, ensuite bathroom off primary bedroom, plus 3pc bathroom. Basement - above grade windows, kitchen, large recreation room, 1 bedroom and 4pc bathroom with laundry room. Oversize cantina with shelving. Whether you're looking for a spacious multi-family home to live in while planning your future dream home, or looking for a solid income property, this home offers incredible flexibility and investment potential $$$. Located on a highly sought-after street surrounded by multi-million dollar custom homes-yours could be next. Steps to shopping, transit, highways, GO, schools, places of faith, libraries, community centres, pools!
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- N13786918
- Bedrooms
- 5+1 (6 total)
- Bathrooms
- 5
- Size
- 3500-5000 sq ft
- Lot
- 52.08 × 204.56 ft
- Cross streets
- Bathurst & 16th Avenue
- Parking
- 2 garage · 6 parking (attached)
- Driveway
- Private Double
- Basement
- Apartment, Separate Entrance
- Kitchens
- 3 (2 + 1)
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Poured Concrete
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $11,608 / 2026
- Days on market
- 5
- Listing brokerage
- RIGHT AT HOME REALTY
Rooms
hardwood floor · closet
ceramic floor · brick fireplace
ceramic floor · closet
combined w/dining · hardwood floor · window floor to ceiling
ceramic floor · laundry sink
Window
combined w/living · hardwood floor
ceramic floor · above grade window
ceramic floor · above grade window
hardwood floor · 4 pc ensuite · walk-in closet(s)
hardwood floor · closet
ceramic floor · eat-in kitchen · w/o to yard
ceramic floor · open concept
Ceramic Floor
hardwood floor · closet
ceramic floor · open concept
Ceramic Floor
Listed at $1,788,000, which is about 12% below what comparable homes suggest.
The usual discount does not apply here. Homes listed this far under their comparable sales often close at or above the ask, so no closing range is shown.
Total price vs nearby homes. Fair value about $2.04M, learned from recent GTA sales.
The market behind the math:
About 4.1 months of inventory: 11 detached homes for sale in the area against 8 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $421/sqft against an area asking average of $664/sqft. Size and $/sqft both feed the estimate above.
- Separate-entrance basement apartment features. A finished 1 bed basement apartment with a separate entrance and a second kitchen. A self-contained space for extended family, guests or potential income. Basements do rent in South Richvale: 18 of the 72 detached leases here lately were basement units, around $2,050 a month. That makes the suite real income, and comparable-sales math under-prices it, so read the estimate as a floor. Second-suite retrofit status is not verified. A buyer intending to rent should confirm requirements with the City of Richmond Hill.
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 19 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $2.28M. Condition and finishes remain an in-person call.
What the listing highlights3 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
- Addition / added square footage: more space lifts value when it is permitted and well integrated, verify the permits. Value driver
- Transit / schools nearby: convenience and resale support, verify the exact distances and school catchment. Value driver
Schools & getting aroundcatchment and transit
The assigned public school is Charles Howitt PS. EQAO is only one input, and families here also look at French Immersion, boundary, and private options, the full breakdown is below.
Read this with carewhy it’s an estimate, not an appraisal
The listing states size as a wide range, so the size adjustment is approximate and this estimate is a rough read. I can confirm exact square footage to tighten it.
Based on 19 comparable homes that sold in South Richvale over the past two years, from 91 closings there.
Nothing 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 $2.04M, which is where my estimate comes from.
Per square foot, these ask about $572/sqft; this home lists at $421/sqft. Size is part of the price story, not just the sticker.
The 5 closest active listings nearby.
See all comparable homesNeighbourhood & location
South Richvale, 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) →
The public and Catholic schools this address is zoned for, with EQAO results (the share of students meeting Ontario's provincial standard).
School attendance boundaries and EQAO results are Ontario government data and can change. Confirm the current catchment with the school board before relying on it.
Also nearby: 11 more schools within 2.5 km
Not the assigned catchment: schools a family here could reach, with EQAO results where published.
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 4.24% via Ratehub.ca (as of September 21, 2026); conventional rates run a little higher.
Mortgage amount $1,430,400 · 4.39% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $7,830
- Property tax
- $967
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $8,797
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $32,235
- Estimated closing costs
- $32,235
Plus your down payment of $357,600. 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
- $469,778
- Principal paid down
- $176,858
- Interest paid
- $292,920
- Balance remaining
- $1,253,542
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
The suite is real income here: basements rent in South Richvale (18 of 72 recent detached leases were basement units, around $2,050 a month). The figure above is the whole house on one lease; rented as two units, the suite alone brings about $2,050 a month on top of the upper floors. Permitted use is worth confirming with the city.
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 10 whole-home leases in South Richvale signed at a median of $6,903 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $7,029. 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 RIGHT AT HOME REALTY. MLS®/PropTx.