47 Melville Street, Richmond Hill, ON
Langstaff, Richmond Hill · MLS® N13816132
About this home
In short
- Extensively Upgraded 4+1 Bedroom, 4-Bath Detached Home In Desirable Central Richmond Hill, Offering Over 3,500 Sq.
- An Impressive Soaring Foyer Creates A Bright And Welcoming First Impression.
- The Functional Layout Features A Refreshed Modern Kitchen With Bosch Appliances, Renovated Bathrooms, New Flooring And Baseboards, A Refinished Staircase, Fresh Paint...
- The Fully Finished Basement Provides Additional Living Space, A Bedroom, Full Bath And New Windows.
- Major Improvements Include Updated Plumbing, A 200-Amp Electrical Panel, Enhanced Attic Insulation, New Heat Pump, Ecobee Smart Thermostat, Whole-Home Humidifier And...
Extensively Upgraded 4+1 Bedroom, 4-Bath Detached Home In Desirable Central Richmond Hill, Offering Over 3,500 Sq. Ft. Of Finished Living Space. An Impressive Soaring Foyer Creates A Bright And Welcoming First Impression. The Functional Layout Features A Refreshed Modern Kitchen With Bosch Appliances, Renovated Bathrooms, New Flooring And Baseboards, A Refinished Staircase, Fresh Paint And Decorative Wall Panels. All Windows Throughout The Home Have Been Replaced, Enhancing Comfort, Natural Light And Energy Efficiency. The Fully Finished Basement Provides Additional Living Space, A Bedroom, Full Bath And New Windows. Major Improvements Include Updated Plumbing, A 200-Amp Electrical Panel, Enhanced Attic Insulation, New Heat Pump, Ecobee Smart Thermostat, Whole-Home Humidifier And Waterdrop Tankless Reverse Osmosis System. Smart-Home Features Include Connected Light Switches, App-controlled Garage Door Opener And Security Cameras. Additional Highlights Include A New Driveway, Glass Porch Enclosure And Stylish, Low-Maintenance Hardscaped Backyard. This Is A Truly One-Of-A-Kind, Move-In-Ready Home. Ideally Located Near Top-Ranked Schools, Hwy 407, GO Transit, Shopping, Dining And More.
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- N13816132
- Bedrooms
- 4+1 (5 total)
- Bathrooms
- 4
- Size
- 2000-2500 sq ft
- Lot
- 31.99 × 109.91 ft
- Cross streets
- Bantry & Yonge St
- Parking
- 2 garage · 6 parking (attached)
- Driveway
- Private
- Basement
- Finished
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Concrete
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $7,403 / 2026
- Days on market
- 27
- Listing brokerage
- RE/MAX REALTRON REALTY INC.
Rooms
Window
pantry · window
5 pc ensuite · walk-in closet(s)
hardwood floor · fireplace
window · closet
window · closet
Listed at $1,629,900, about 9% above our estimate of $1.50M (homes like it typically land between $1.41M and $1.57M).
Why $1.50M. The typical detached home sold in Langstaff over the past year went for about $1.96M (18 sales). What sets this one apart:
- ▲ Raises itThe listing describes it as fully renovated or newly built.
- ▼ Lowers itIts tax bill, which follows the city's own assessment, is $7,403 a year; the typical home sold here pays about $8,000.
- ▼ Lowers itIt is 2,000 to 2,500 sq ft; the typical home sold here is 2,750 to 3,250.
Total price vs nearby homes. Fair value about $1.50M, learned from recent GTA sales.
The market behind the math:
Price per square foot: this home lists at $724/sqft against an area asking average of $729/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 10 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $1.51M. Condition and finishes remain an in-person call.
What the listing highlights4 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
- Renovated / rebuilt: recent work can mean fewer upfront costs, worth confirming the scope, quality, and that permits were pulled. Value driver
- Recent major systems: lower near-term capital costs, ask for the ages and any warranties. Value driver
- Tall ceilings: they transform how a home feels, worth confirming the actual heights room to room. Worth verifying
Read this with carewhy it’s an estimate, not an appraisal
Priced above comparable homes overall, but the price per square foot ($724/sqft) is in line with the area, so you are paying for extra space rather than a premium.
There were not many closely comparable homes right in Langstaff, so I widened the search to the surrounding area.
Based on 10 comparable homes that sold in Langstaff over the past two years, from 33 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 $1.50M, which is where my estimate comes from.
Per square foot, these ask about $924/sqft; this home lists at $724/sqft. Size is part of the price story, not just the sticker.
The 4 closest 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
Langstaff, 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 $1,303,920 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $7,210
- Property tax
- $617
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $7,827
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $29,073
- Estimated closing costs
- $29,073
Plus your down payment of $325,980. 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
- $432,576
- Principal paid down
- $159,315
- Interest paid
- $273,261
- Balance remaining
- $1,144,605
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 5 whole-home leases in Langstaff signed at a median of $5,062 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $4,567. 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.