
223 Richmond Street, Richmond Hill
Richmond Hill
$1,249,000
Cash flow, cap rate & mortgage breakdown
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Listed by REMAX YOUR COMMUNITY REALTY
Investment Analysis
Key Facts
Type
Detached
Bedrooms
3
Bathrooms
2
Days on Market
11
Price Drop
None
Year Built
N/A
Status
Active
Basement Income
Suite Potential (+$1,190/mo)
Rent Estimate
Estimated from market price-to-rent ratios · Verify suite legality with the City of Mississauga
Remarks
Welcome to 223 Richmond Street, a rare opportunity in the heart of Richmond Hill's highly sought-after Mill Pond neighbourhood. Situated on an impressive 58 x 167 ft oversized lot, this 1.5 storey home (3-bed 1.5-bath) offers incredible potential in one of the area's most desirable communities. This charming property provides a great opportunity for those looking to move into this prestigious neighbourhood, personalize over time, and create a space that reflects their own vision. For investors, the functional layout and separate side entrance offer potential for additional living space or future basement conversion opportunities. For builders, renovators, or those dreaming of a custom home, this premium lot provides the perfect setting to bring that vision to life. Located steps from the scenic Mill Pond, surrounded by mature trees, parks, top-rated schools, Mackenzie Health hospital, transit, and the local conveniences of downtown Richmond Hill, this is an exceptional chance to own a piece of one of the community's most established and desirable neighbourhoods. Whether you're looking to renovate, invest, or build new, the possibilities are endless!
MississaugaInvestor.ca
223 Richmond Street
Detached · 3bd/2ba · ~900 sqft
$1,249,000
Cash-Flow Report · July 31, 2026
Cap Rate
2.25%
Monthly Cash Flow
-$3,404/mo
Estimated Rent
$4,590/mo
Cash-on-Cash
-14.89%
Monthly (20% down · 4.89% rate · 25yr)
| Gross Rent | +$4,590 |
| Mortgage | −$5,749 |
| Property Tax | −$749 |
| Insurance | −$225 |
| Maintenance (1% of value/yr) | −$1,041 |
| Vacancy (5%) | −$230 |
| Cash Flow | -$3,404/mo |
Annual NOI & Cap Rate (All-Cash)
| Gross Rent | +$55,080 |
| Vacancy (5%) | −$2,754 |
| Property Tax | −$8,993 |
| Insurance | −$2,700 |
| Maintenance (1% of value/yr) | −$12,490 |
| Annual NOI | $28,143 |
| Cap Rate | 2.25% |
Cash Required to Close
| Down Payment (20%) | $249,800 |
| Ontario Land Transfer Tax | $21,455 |
| Legal & Title Insurance | $2,500 |
| Inspection & Misc | $500 |
| Total Cash Required | $274,255 |
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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