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New6 days ago

516 Lynett Crescent

Crosby, Richmond Hill

$1,250,000

Detached|Bungalow
4 | 3 | 5.5
About this home

Exceptional Three-Unit Detached Property Situated in the highly desirable Crosby community of central Richmond Hill, this unique property sits on a generous 50 x 100 ft lot and offers an exceptional opportunity for investors or multi-generational families seeking additional rental income.Featuring three self-contained living units, each with its own private kitchen, bathroom, and laundry facilities, this property offers excellent rental income potential and outstanding flexibility.The main house offers 3+2 bedrooms & 2 bathrooms, while the detached garage behind features a separate Coach House above, providing a third independent rental unit complete with its own heating system, 60 amps electrical Panel, kitchen, bathroom, and laundry facilities.The property also features a 1.5-car garage, offering parking for one vehicle plus additional storage space. Conveniently located close to Highway 404, schools, parks, shopping centres, Asian supermarkets, banks, restaurants, community centres, hospital, GO Train station, and public transit, providing exceptional convenience for everyday living.Located within the highly Ranked Bayview S.S district.

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agent
Jonathan Lee
(647) 983-0770
TypeDetached
StyleBungalow
Approx. AgeNot available
Size1100-1500 sq. ft.
Property Tax$5,793
Lot Size50 ft x 100 ft
mls© NumberN14149848
Listed ByRE/MAX EXCEL REALTY LTD.

Listing History

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  • No recent lease history for this listing.

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What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$6,398
Property tax
$483
Heat allowance
$150
Housing costs
$7,031 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $250,000
25-yr amortization

Income needed

$216,000

gross annual household income

Payment at 4%
$5,260 / mo
Cash down
$250,000

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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