221 Elgin Mills Road, Richmond Hill, ON
Mill Pond, Richmond Hill · MLS® N14095630
About this home
In short
- Welcome to this charming raised bungalow situated on a rare 50 x 226 ft lot in the prestigious Mill Pond neighborhood of Richmond Hill.
- Offering endless possibilities live in as-is, renovate, or build your dream home this property is a true gem for families and investors alike.
- Hardwood floors, and an eat-in kitchen overlooking the dining area with a walkout to the balcony.
- The main level boasts 2 bedrooms and a 4-piece bathroom, while the finished basement offers incredible versatility with a large recreation room, second kitchen...
- A 2-car detached garage plus parking for 6 vehicles ensures plenty of room for the whole family.
Welcome to this charming raised bungalow situated on a rare 50 x 226 ft lot in the prestigious Mill Pond neighborhood of Richmond Hill. Offering endless possibilities live in as-is, renovate, or build your dream home this property is a true gem for families and investors alike. Hardwood floors, and an eat-in kitchen overlooking the dining area with a walkout to the balcony. The main level boasts 2 bedrooms and a 4-piece bathroom, while the finished basement offers incredible versatility with a large recreation room, second kitchen, 3-piece bath, and laundry with cold storage. The expansive south-facing backyard provides ample space for outdoor living, landscaping, or future expansion. A 2-car detached garage plus parking for 6 vehicles ensures plenty of room for the whole family. Located in one of Richmond Hills most desirable communities, you're steps from Mill Pond Park, top-rated schools (St. Theresa of Lisieux CHS AP Program, Alexander Mackenzie HS IB Program), and all major amenities. Don't miss this exceptional opportunity in a sought-after location!
Key facts
- Property type
- Detached, Bungalow-Raised
- MLS®
- N14095630
- Bedrooms
- 2
- Bathrooms
- 2
- Size
- 1500-2000 sq ft
- Lot
- 53.05 × 226.57 ft
- Cross streets
- Elgin Mills Rd W/Regent St
- Parking
- 2 garage · 8 parking (detached)
- Driveway
- Available
- Basement
- Finished with Walk-Out
- Kitchens
- 2 (1 + 1)
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Concrete, Block
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $7,350 / 2025
- Listing brokerage
- REMAX YOUR COMMUNITY REALTY
No automatic estimate is shown here: there is not a deep enough record of recent sales of homes like this one in this neighbourhood to support one.
Considering this property? Request a written price read
Nothing closely matching this home is listed nearby right now, so these are the nearest detached listings on the market.
Per square foot, these ask about $818/sqft; this home lists at $672/sqft. Size is part of the price story, not just the sticker.
The 4 closest active listings nearby.
See all comparable homesNeighbourhood & location
Mill Pond, Richmond Hill, ON
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Typical asking price of active listings of the same type, per area (outliers removed). Richmond Hill.
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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 19, 2026); conventional rates run a little higher.
Mortgage amount $940,720 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $5,201
- Property tax
- $613
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $5,814
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $19,993
- Estimated closing costs
- $19,993
Plus your down payment of $235,180. 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
- $312,084
- Principal paid down
- $114,939
- Interest paid
- $197,146
- Balance remaining
- $825,781
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
Income potential: the basement has a separate entrance, which often supports a rentable in-law or second suite. That can lift real rent well above the figure above and help carry the mortgage. Ask us about permitted use in this area.
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 REMAX YOUR COMMUNITY REALTY. MLS®/PropTx.