
223- 370 Highway 7 N/A, Richmond Hill
Richmond Hill
$563,800
Cash flow, cap rate & mortgage breakdown
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Listed by HOMELIFE FRONTIER REALTY INC.
Investment Analysis
Key Facts
Type
Condo Apartment
Bedrooms
2
Bathrooms
2
Days on Market
28
Price Drop
None
Year Built
N/A
Status
Active
Basement Income
None Detected
Rent Estimate
$2,250/mo
Estimated from market price-to-rent ratios
Remarks
Located in one of Richmond Hill's most sought after neighbourhoods, this newly renovated 2-bedroom 2-bath corner suite offers the perfect blend of style, comfort, and convenience. Recent upgrades include a custom kitchen (end of 2025), extra wide 9" vinyl plank flooring (end of 2025), stainless steel kitchen appliances (end of 2025), front loading washer and dryer (end of 2024), and new LED ceiling light fixtures. Abundant natural light fills the open concept living and dining areas, creating an inviting space ideal for gatherings and entertaining. The beautifully renovated new kitchen features extended lower cabinetry, sleek quartz countertops, a matching quartz backsplash, under-valance lighting, soft closing doors, new sink and faucet. The primary bedroom boasts windows on two sides and a 3-piece ensuite with a walk-in shower stall. The thoughtful split bedroom layout ensures privacy, while additional highlights include a private balcony with view of a parkette, two full bathrooms with marble vanity tops, roller blinds throughout, and fresh paint. The suite is positioned on the quiet side of the complex, and it comes with one underground parking space and one locker for added storage. Building amenities features as an exercise room, party room, 24-hour concierge, and both surface and underground visitor parking. Its unbeatable location offers exceptional everyday convenience: Viva and York Transit at your doorstep, walking distance to plazas, banks, medical offices, shops, and restaurants, and just minutes to Highways 407 & 404, the bus terminal, and GO Station. The property is also situated within St. Robert Catholic High School catchment area. Don't miss this opportunity to own a truly move in ready condo in a prime Richmond Hill location! At this price, why go for a 1+1 unit?
MississaugaInvestor.ca
223- 370 Highway 7 N/A
Condo Apartment · 2bd/2ba · ~750 sqft
$563,800
Cash-Flow Report · July 31, 2026
Cap Rate
1.75%
Monthly Cash Flow
-$1,771/mo
Estimated Rent
$2,250/mo
Cash-on-Cash
-17.21%
Monthly (20% down · 4.89% rate · 25yr)
| Gross Rent | +$2,250 |
| Mortgage | −$2,595 |
| Property Tax | −$338 |
| Insurance | −$225 |
| Condo Fee | −$750 |
| Vacancy (5%) | −$113 |
| Cash Flow | -$1,771/mo |
Annual NOI & Cap Rate (All-Cash)
| Gross Rent | +$27,000 |
| Vacancy (5%) | −$1,350 |
| Property Tax | −$4,059 |
| Insurance | −$2,700 |
| Condo Fee | −$9,000 |
| Annual NOI | $9,891 |
| Cap Rate | 1.75% |
Cash Required to Close
| Down Payment (20%) | $112,760 |
| Ontario Land Transfer Tax | $7,751 |
| Legal & Title Insurance | $2,500 |
| Inspection & Misc | $500 |
| Total Cash Required | $123,511 |
Assumptions: 20% down · 4.89% rate · 25yr amort · Canadian semi-annual compounding · $225/mo insurance · maintenance reserve = greater of 8% of rent or 1% of value/yr (condo fee replaces it) · 5% vacancy · rent estimated from neighbourhood MLS comps. All figures are estimates — verify with a licensed professional before making an investment decision.
Prepared by Hamza Nouman · RECO-registered Investor Specialist · 647-609-1289 · hamza@nouman.ca · MississaugaInvestor.ca
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