42 Formosa Drive, Richmond Hill, ON
Property Highlights
Welcome to this remarkable 2-Storey detached located in the coveted neighborhood of Rouge Woods. Expertly crafted featuring premium brick construction, this residence presents an exceptional opportunity offered at $4,300 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 4 Bedrooms and 3 Bathrooms
- Generous living space spanning 2000-2500 sqft on a premium 9 x 33.5 ft lot
- Features a unfinished basement, adding superb versatility for recreation, a home gym, or extra storage
- 4.0 total parking spaces available with a convenient attached configuration
- Notable attributes: Other
- equipped with central air central cooling and highly efficient forced air heating via gas
Description
Set within one of Richmond Hill's most established and family-oriented communities, 42 Formosa Drive presents a rare opportunity to lease a well-maintained detached residence offering exceptional comfort, functionality, and long-term livability.Bathed in natural light, the principal living spaces are thoughtfully arranged to create a seamless flow between the living, dining areas, and a well-appointed kitchen. Forming an inviting setting for both everyday family life and casual entertaining. Upstairs, the home continues to impress with well-proportioned bedrooms, ample storage, and a comfortable private retreat for the household. The lower level features a spacious basement with an above-grade window, providing excellent natural light and flexible additional living space suited for recreation, work, or extended family use.Located within the highly sought-after Bayview Secondary School catchment, this address is especially appealing to families prioritizing access to strong academic programming. The surrounding neighbourhood is defined by mature tree-lined streets, nearby parks, walking trails, and an abundance of recreational amenities, offering a quiet yet connected suburban lifestyle.Despite its peaceful setting, the home remains exceptionally well connected to transit, major highways, shopping centres, dining, and everyday conveniences. Rarely offered in this pocket, opportunities to lease a detached home of this calibre are limited. This is a chance to secure a quality residence in one of Richmond Hill's most desirable family communities.
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Pricing & Value Insights
Data-driven valuation for 42 Formosa Drive, Richmond Hill, ON L4S 1S6
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Properties in this area are selling at a steady pace.
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About Purchasing a Home in Richmond Hill, ON
For a property listed at $4,300 in Richmond Hill, the legal minimum down payment is $215 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $22 for this transaction. As this listing is in Richmond Hill (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $22.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.