1201-56 Elizabeth Street, Richmond Hill, ON
Mill Pond, Richmond Hill · MLS® N14030026
About this home
Stunning Two-Bedroom, Two-Bathroom Corner Unit In The Heart Of Richmond Hill. Offering Exceptional Value In A Highly Desirable Neighbourhood Surrounded By Multi-Million-Dollar Homes. Tasteful Upgrades And A Functional Layout Complement Three Exposures With North, East, And West-Facing Views, Providing Abundant Natural Light And A Wonderful Sense Of Openness. This Rare Floor Plan Is Found In Only Six Units Throughout The Community. Enjoy The Feel Of A Stacked Townhome Without The Hassle Of Multiple Stairs Or Levels. Ideally Located In Downtown Richmond Hill, Just Minutes From Libraries, Pools, Hospitals, Top-Rated Schools, Transit, And A Wide Range Of Amenities. Enjoy The Perfect Blend Of Comfort, Convenience, And Value In One Of Richmond Hill's Most Appealing Communities.
Key facts
- Property type
- Condo Townhouse, Stacked Townhouse
- MLS®
- N14030026
- Bedrooms
- 2
- Bathrooms
- 2
- Size
- 1000-1199 sq ft
- Cross streets
- Yonge St & Major Mackenzie Dr
- Parking
- 1 garage (underground)
- Basement
- None
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Maintenance
- $454/mo
- Exposure
- North East
- Property tax
- $3,451 / 2026
- Days on market
- 6
- Listing brokerage
- MII REALTY POINT
Rooms
3 pc ensuite · glass doors
Closet
3 pc ensuite · walk-in closet(s)
4 Pc Bath
stainless steel appl · quartz counter · combined w/great rm
NE View
nw view · closet
Listed at $629,000, about 5% above our estimate of $601K (homes like it typically land between $559K and $632K).
Why $601K. The typical townhouse sold in Mill Pond over the past year went for about $690K (16 sales). What sets this one apart:
- ▼ Lowers it slightly2 bedrooms and 2 baths, against 2 and 3 typically.
- ▼ Lowers it slightlyIt is 1,000 to 1,199 sq ft; the typical home sold here is 1,200 to 1,399.
- ▼ Lowers it slightlyIts tax bill, which follows the city's own assessment, is $3,451 a year; the typical home sold here pays about $3,700.
Total price vs nearby homes. Fair value about $601K, learned from recent GTA sales.
The market behind the math:
Price per square foot: this home lists at $572/sqft against an area asking average of $581/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 and this building.
It never sees the asking price. The 15 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $583K. Condition and finishes remain an in-person call.
Read this with carewhy it’s an estimate, not an appraisal
There were not many closely comparable homes right in Mill Pond, so I widened the search to the surrounding area.
Based on 15 comparable homes that sold in Mill Pond over the past two years, from 21 closings there.
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 $564/sqft; this home lists at $572/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 condo townhouses in Richmond Hill: $688K in September 2026, down 8% from a year ago, on 137 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 | $825K | 11 |
| November 2025 | $735K | 5 |
| December 2025 | $714K | 7 |
| January 2026 | $668K | 6 |
| February 2026 | $695K | 9 |
| March 2026 | $660K | 9 |
| April 2026 | $699K | 23 |
| May 2026 | $659K | 12 |
| June 2026 | $709K | 20 |
| July 2026 | $680K | 11 |
| August 2026 | $722K | 10 |
| September 2026 | $688K | 14 |
Neighbourhood & location
Mill Pond, 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 $503,200 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $2,782
- Property tax
- $288
- Condo / maintenance fees
- $454
- Heating
- $0
- Estimated monthly cost
- $3,524
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $9,055
- Estimated closing costs
- $9,055
Plus your down payment of $125,800. 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
- $166,937
- Principal paid down
- $61,482
- Interest paid
- $105,455
- Balance remaining
- $441,718
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 19 whole-home leases in Mill Pond signed at a median of $2,774 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $2,594. 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 MII REALTY POINT. MLS®/PropTx.