18 Formosa Drive, Richmond Hill, ON
Rouge Woods, Richmond Hill · MLS® N13800942
About this home
In short
- Sold Under POWER OF SALE.
- Situated on an impressive 142.15 x 91.84 ft. pie-shaped lot, this spacious detached two-storey home offers approximately 2,907 sq. ft. of above-grade living space as...
- The functional family layout features 4 bedrooms and 4 bathrooms, including 2 ensuite bathrooms, spacious living and dining areas, a family room with fireplace, and...
- The substantially finished basement provides excellent additional living space and flexibility.
- Conveniently located close to schools, parks, public transit, shopping and everyday amenities.
Sold Under POWER OF SALE. "Sold" As Is- Where Is. Beautiful, well-maintained and move-in ready home in desirable Rouge Woods! Situated on an impressive 142.15 x 91.84 ft. pie-shaped lot, this spacious detached two-storey home offers approximately 2,907 sq. ft. of above-grade living space as per MPAC, with approximately 4,499 sq. ft. of total living area including the mostly finished basement. Located within the highly regarded Bayview Secondary School and Richmond Rose Public School catchment. The functional family layout features 4 bedrooms and 4 bathrooms, including 2 ensuite bathrooms, spacious living and dining areas, a family room with fireplace, and an improved open-concept kitchen overlooking the family room. Enjoy updated flooring, refreshed interior finishes, and a roof replaced in 2015. The substantially finished basement provides excellent additional living space and flexibility. The property also features a double built-in garage and double private driveway, offering ample parking. Conveniently located close to schools, parks, public transit, shopping and everyday amenities. A beautiful family home offering an exceptional lot, generous living space and a sought-after Rouge Woods location. Move-in ready and a great opportunity - don't miss it! Power Of Sale, Seller Offers No Warranty. All Information Should Be Independently Verified.
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- N13800942
- Bedrooms
- 4
- Bathrooms
- 4 (1 half)
- Size
- 2500-3000 sq ft
- Lot
- 142.15 × 91.84 ft
- Cross streets
- Bayview/Major Mac
- Parking
- 2 garage · 6 parking (built-in)
- Driveway
- Private Double
- Basement
- Unfinished
- Heating
- Forced Air
- A/C
- None
- Exterior
- Brick
- Foundation
- Brick
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $8,696 / 2026
- Days on market
- 31
- Listing brokerage
- RE/MAX REALTRON REALTY INC.
Rooms
This is a rare parcel: about 0.3 acres. Comparable-sales math works on size and bedrooms, and here the lot is what is being sold, so no automatic estimate is shown.
Considering this property? Request a written price read
The closest active listings by size, beds, and price, so you can see what this home is up against.
Per square foot, these ask about $626/sqft; this home lists at $589/sqft. Size is part of the price story, not just the sticker.
The 3 closest active listings nearby.
See all comparable homesSold price trend
Median sold price for detached homes in Rouge Woods: $1.56M in September 2026, up 1% from a year ago, on 63 closings in 9 months.
Line: median sold price, each month averaged with its neighbours and weighted by closings. Bars: closings that month.
Month by month
| Month | Median sold | Closings |
|---|---|---|
| October 2025 | $1.58M | 7 |
| November 2025 | $1.65M | 9 |
| March 2026 | $1.49M | 9 |
| April 2026 | $1.53M | 8 |
| May 2026 | $1.43M | 5 |
| June 2026 | $1.63M | 5 |
| July 2026 | $1.60M | 6 |
| August 2026 | $1.64M | 6 |
| September 2026 | $1.56M | 8 |
Neighbourhood & location
Rouge Woods, 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
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 $1,296,000 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $7,166
- Property tax
- $725
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $7,890
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $28,875
- Estimated closing costs
- $28,875
Plus your down payment of $324,000. 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
- $429,948
- Principal paid down
- $158,347
- Interest paid
- $271,601
- Balance remaining
- $1,137,653
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 63 whole-home leases in Rouge Woods signed at a median of $4,487 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $4,601. 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 RE/MAX REALTRON REALTY INC.. MLS®/PropTx.