118 May Avenue, Richmond Hill, ON
North Richvale, Richmond Hill · MLS® N14082096
About this home
The Perfect 4+3 Bedroom and 6 Bathroom Detached In Richmond Hill's North Richvale Community* Backing & Siding Onto Ravine* Family Friendly Neighbourhood* Close To Shops On Yonge, HWY's, Entertainment, The GO, Schools & Parks* Premium 50 ft x 125 fT Lot* Oversized Driveway W/ 8 Car Total Parking* Beautiful Curb Appeal W/ All Brick Exterior* Enjoy 3273 Sq Ft Above Grade* Timeless Architecture Includes Smooth 9 FT Ceilings* Property Situated On Premium Elevation* Chef's Kitchen W/ Granite Countertops* All Stainless Steel Appliances* Gas Cooktop* Under Cabinet Lighting* Breakfast Area Opens To Wide Sliding Doors W/O To Sundeck* Natural Gas For BBQ* Family Room W/ Custom Floating Gas Fireplace* Custom Entertainment Wall W/ Bookmatched Tiled Wall* Spacious Main Floor Office Facing Ravine Ultimate Privacy Staircase W/ Iron Pickets* Spacious Primary Bedroom W/ Ravine Views* Oversized Walk in Closet W/ Oraganizers* Spa-Like 6PC Ensuite W Standing Shower* Rain Shower Head* Linear Drain* Glass Enclosure & Custom Tiles From Floor To Ceiling* Dual Vanity & Free Standing Tub* W/ Second Fireplace* All Spacious Bedrooms W/ 3 Full Bathrooms On Second Floor* Roof Reshingled 2026* All New Windows 2015* New AC 2024* New Fireplace 2024* 200 AMP Electrical Panel* EV Charging In Garage* Finished 2 Bedroom Walk Up Basement Apartment W/ Separate Entrance* Separate 1 Bedroom 1 Bath Portion For Home Owner To Enjoy* Perfect Backyard Space* Must See! Don't Miss!
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- N14082096
- Bedrooms
- 4+3 (7 total)
- Bathrooms
- 6 (1 half)
- Size
- 3000-3500 sq ft
- Lot
- 50.05 × 125.88 ft
- Cross streets
- Yonge St & May Ave
- Parking
- 2 garage · 8 parking (attached)
- Driveway
- Available
- Basement
- Apartment, Separate Entrance
- Kitchens
- 2 (1 + 1)
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Concrete
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $9,780 / 2025
- Days on market
- 4
- Listing brokerage
- HOMELIFE EAGLE REALTY INC.
Rooms
laminate · window · 3 pc bath
ceramic floor · eat-in kitchen · w/o to yard
laminate · window · open concept
ceramic floor · granite counters · overlooks ravine
hardwood floor · window · french doors
laminate · open concept · window
window · semi ensuite · walk-in closet(s)
hardwood floor · gas fireplace · overlooks ravine
overlooks ravine · semi ensuite · walk-in closet(s)
hardwood floor · french doors
window · walk-in closet(s) · large window
hardwood floor · french doors · overlooks ravine
laminate · window · closet
overlooks ravine · 6 pc ensuite · walk-in closet(s)
Listed at $1,499,900. Going by how homes in North Richvale and the wider GTA have actually closed against their asking prices (about 97%, 16 local closings in 90 days), the likely sale price is near $1.45M, if it sells. A realistic range is $1.36M to $1.64M.
Independent value check: $1.80M. Without looking at the asking price, our model values the home itself about 20% above the ask (homes like it typically land between $1.68M and $1.88M).
Why $1.80M. The typical detached home sold in North Richvale over the past year went for about $1.28M (60 sales). What sets this one apart:
- ▲ Raises it stronglyIts tax bill, which follows the city's own assessment, is $9,780 a year; the typical home sold here pays about $6,400.
- ▲ Raises it stronglyIt is 3,000 to 3,500 sq ft; the typical home sold here is 1,500 to 2,000.
- ▲ Raises it slightly4+3 bedrooms and 6 baths, against 3+1 and 4 typically.
Total price vs nearby homes. Likely closing about $1.45M, from 16 recent closings in this pocket.
The market behind the math:
About 2.6 months of inventory: 14 detached homes for sale in the area against 16 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $462/sqft against an area asking average of $734/sqft.
- Separate-entrance basement apartment features. A finished 3 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 North Richvale: 32 of the 119 detached leases here lately were basement units, around $1,725 a month. That makes the suite real income. Second-suite retrofit status is not verified. A buyer intending to rent should confirm requirements with the City of Richmond Hill.
- Ravine / green setting. This home is described as backing onto a ravine or green setting. The ravine backing is priced into the comparison. How much it is really worth depends on whether the house sits on table land with the slope well behind it, or drops away right behind it, and that part is my in-person call.
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 16 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $1.58M. Condition and finishes remain an in-person call.
What the listing highlights5 points to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Separate entrance / basement suite: rental or in-law income potential, if it is legally registered and retrofit-compliant. Income potential
- Ravine lot: privacy and premium value, but confirm the buildable area and any conservation limits. Worth verifying
- Recent major systems: lower near-term capital costs, ask for the ages and any warranties. Value driver
- Upscale kitchen: a genuine value driver, verify the appliances, stone, and finishes in person. Value driver
- Primary suite: a key comfort and resale feature. Lifestyle
Based on 16 comparable homes that sold in North Richvale over the past two years, from 147 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 $1.80M, which is where my estimate comes from.
Per square foot, these ask about $747/sqft; this home lists at $462/sqft. Size is part of the price story, not just the sticker.
The 5 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
North 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) →
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 $1,199,920 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $6,635
- Property tax
- $815
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $7,450
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $26,473
- Estimated closing costs
- $26,473
Plus your down payment of $299,980. 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
- $398,074
- Principal paid down
- $146,608
- Interest paid
- $251,466
- Balance remaining
- $1,053,312
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 North Richvale (32 of 119 recent detached leases were basement units, around $1,725 a month). The figure above is the whole house on one lease; rented as two units, the suite alone brings about $1,725 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 6 whole-home leases in North Richvale signed at a median of $4,486 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $5,470. 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 HOMELIFE EAGLE REALTY INC.. MLS®/PropTx.