
429 North Lake Road, Richmond Hill
Richmond Hill
$2,390,000
Cash flow, cap rate & mortgage breakdown
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Listed by REAL BROKER ONTARIO LTD.
Investment Analysis
Key Facts
Type
Detached
Bedrooms
6
Bathrooms
4
Days on Market
1
Price Drop
None
Year Built
N/A
Status
Active
Basement Income
Suite Potential (+$1,445/mo)
Rent Estimate
Estimated from market price-to-rent ratios · Verify suite legality with the City of Mississauga
Remarks
Nestled on a premium south-facing lot backing directly onto Lake Wilcox, this custom-built detached home offers an exceptional waterfront lifestyle with a private pier providing direct lake access. Enjoy boating right from your backyard, with motorized boats and seaplanes permitted on the lake. Situated on an impressive 49.21 x 232 ft. lot, the home features a timeless stone exterior, a tandem 3-car garage, and an interlocking driveway with parking for up to 6 vehicles. Offering nearly 3,400 sqft of beautifully designed living space, this extensively renovated home features 4+2 spacious bedrooms, 4 bathrooms, and a functional open-concept layout ideal for family living and entertaining. living room boasts soaring 16-ft ceilings, floor-to-ceiling windows, and an elegant granite fireplace. The main level also offers a gourmet kitchen with premium built-in appliances, custom cabinetry, valance lighting, a bright dining area, a welcoming family room overlooking the backyard and lake, and a convenient main floor bedroom. Upstairs, the spacious primary retreat features a beautifully renovated ensuite and a private walk-out balcony with tranquil lake views. Two additional bedrooms and a bright sitting area beneath a skylight complete the upper level.The fully finished walk-out basement is level with the backyard, providing seamless access to the outdoor space. Complete with a second kitchen, a large recreation room, and two additional bedrooms, it offers excellent potential for extended family, guests, or multi-generational living. Enjoy professionally landscaped grounds, an expansive patio, a children's play area, and direct access to your private pier on Lake Wilcox. Conveniently located close to parks, scenic trails, schools, public transit, Yonge Street, Bayview Avenue, Highway 404, and a wide range of amenities. A rare opportunity to own a true waterfront property in one of Richmond Hill's most sought-after communities. *Virtual staging used in select photos.*
MississaugaInvestor.ca
429 North Lake Road
Detached · 6bd/4ba · ~2,250 sqft
$2,390,000
Cash-Flow Report · July 31, 2026
Cap Rate
1.53%
Monthly Cash Flow
-$7,959/mo
Estimated Rent
$7,045/mo
Cash-on-Cash
-18.12%
Monthly (20% down · 4.89% rate · 25yr)
| Gross Rent | +$7,045 |
| Mortgage | −$11,001 |
| Property Tax | −$1,434 |
| Insurance | −$225 |
| Maintenance (1% of value/yr) | −$1,992 |
| Vacancy (5%) | −$352 |
| Cash Flow | -$7,959/mo |
Annual NOI & Cap Rate (All-Cash)
| Gross Rent | +$84,540 |
| Vacancy (5%) | −$4,227 |
| Property Tax | −$17,208 |
| Insurance | −$2,700 |
| Maintenance (1% of value/yr) | −$23,900 |
| Annual NOI | $36,505 |
| Cap Rate | 1.53% |
Cash Required to Close
| Down Payment (20%) | $478,000 |
| Ontario Land Transfer Tax | $46,225 |
| Legal & Title Insurance | $2,500 |
| Inspection & Misc | $500 |
| Total Cash Required | $527,225 |
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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