502-100 Observatory Lane, Richmond Hill, ON
Observatory, Richmond Hill · MLS® N14093126
About this home
In short
- The Observatory Condo - Spacious 2-Bedroom Suite in a Prime Richmond Hill Location Welcome to this bright and beautifully maintained two-bedroom residence located in...
- The thoughtfully designed layout features a walk-out to a private balcony, ample storage throughout, and a large primary bedroom complete with a walk-in closet and a...
- Situated in a highly sought-after Tridel-built community, residents enjoy an impressive selection of amenities including an indoor pool, sauna, hot tub, fully...
The Observatory Condo - Spacious 2-Bedroom Suite in a Prime Richmond Hill Location Welcome to this bright and beautifully maintained two-bedroom residence located in the heart of Richmond Hill, just steps from Hillcrest Mall, public transit, parks, grocery stores, and a variety of restaurants. The thoughtfully designed layout features a walk-out to a private balcony, ample storage throughout, and a large primary bedroom complete with a walk-in closet and a four-piece ensuite bath. Situated in a highly sought-after Tridel-built community, residents enjoy an impressive selection of amenities including an indoor pool, sauna, hot tub, fully equipped fitness center, tennis court, guest suite, library, party and meeting room, and games room. This suite includes a fridge, stove, built-in dishwasher, washer and dryer, all existing light fixtures, and electronic window coverings, as well as parking and a locker. Recent updates include new flooring in the living area, a new LG stacked washer and dryer, custom closet organizers in all three closets, new baseboards throughout, and new decking on the balcony. Maintenance fees are all-inclusive, excluding property taxes. Experience the perfect combination of comfort, convenience, and quality living at The Observatory.
Key facts
- Property type
- Condo Apartment, Apartment
- MLS®
- N14093126
- Bedrooms
- 2
- Bathrooms
- 2
- Size
- 1000-1199 sq ft
- Cross streets
- Yonge St & Observatory Lane
- Parking
- 1 garage (underground)
- Basement
- None
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Maintenance
- $1,001/mo
- Exposure
- South East
- Property tax
- $2,484 / 2025
- Days on market
- 1
- Listing brokerage
- RE/MAX WEST REALTY INC.
Rooms
laminate · overlooks dining
laminate · pass through
laminate · double closet
laminate · walk-in closet(s) · 4 pc ensuite
laminate · pass through · w/o to balcony
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Observatory, Richmond Hill, ON
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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 $511,910 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $2,830
- Property tax
- $207
- Condo / maintenance fees
- $1,001
- Heating
- $0
- Estimated monthly cost
- $4,038
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $9,273
- Estimated closing costs
- $9,273
Plus your down payment of $127,978. 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
- $169,826
- Principal paid down
- $62,546
- Interest paid
- $107,280
- Balance remaining
- $449,364
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 numbersEstimates only. Rent is modelled on above-grade size and local norms, so a finished basement or second suite (a separate entrance often means one) can push real rent well above this. Taxes, fees, and vacancy vary by property, and cap rate is before financing. A starting point, not a final number, let us run the real ones with you.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of RE/MAX WEST REALTY INC.. MLS®/PropTx.