Detached House sold at 118 Milky Way Drive, Richmond Hill, Ontario, L4C 4M8 - Observatory - MLS: N12809798

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118 Milky Way Drive

Richmond Hill, Ontario, L4C 4M8 - Observatory

$2,399,000$000000

Neighbourhood

Observatory
Major Intersection

Bayview / 16th Ave

Listed Since: 262 day(s)
Last update: 227 day(s) ago

Overview

Property Type

Detached, 2-Storey
Bedrooms

4
Bathrooms

5
Basement

Fin W/O + W/O
Kitchen

1
Total Parking

6 (2 Built-In Garage)
Lot Size

36.12x98.52 (Feet)
Taxes

$10,127.00 (2026)
Type

Freehold

Property Description

Property description for 118 Milky Way Drive, Richmond Hill

Rare opportunity to own a nearly new, extensively upgraded luxury detached home with a WALK-OUT basement in the prestigious David Dunlap Observatory neighbourhood. Offering approximately 4,000 sq.ft. of total living space, including a professionally finished walk-out basement, this less-than-three-year-old residence features over $300,000 in builder and post-closing enhancements, delivering a true turnkey lifestyle rarely found among comparable homes.Thoughtfully designed with quality finishes and custom built-ins throughout, the home showcases hardwood flooring across the above-ground levels and extensive custom cabinetry, including a built-in media wall, designer beverage and wine display cabinetry, custom closet systems throughout , integrated mudroom and laundry room storage, and a built-in wet bar, all complemented by premium soft-close cabinetry systems.The chef-inspired kitchen is ideal for everyday living and entertaining, featuring upgraded cabinetry, soft-close drawers & doors and high-end built-in stainless steel appliances.The professionally finished basement (Fall 2025) offers large above-grade windows, abundant natural light, an open-concept layout with wet bar, and direct walk-out access to the backyard. The basement is further enhanced with in-floor heating, providing added comfort throughout the space.Exterior improvements completed in Summer 2025 include professionally finished backyard and side stair interlocking. Zoned for top-ranked schools including Bayview Secondary School and conveniently located minutes to Hwy 404 & 407, Hillcrest Mall, restaurants, parks, and everyday amenities.A rare opportunity to own a meticulously upgraded home in one of Richmond Hill's most sought-after family communities.

Listed by BAY STREET INTEGRITY REALTY INC.

Property details

MLS #

N12809798
Sq. Ft

3000-3500
Sq. Ft. Source

MLS
Lot Irregularities

n/a
Year Built

Available Upon Request
Pool

None
Drive

n/a
Garage

Built-In, 2 spaces
Total Parking

6
Family Room

Y
Den

Y
Exterior

Stone
Fireplace

Y
Roof

Asphalt Shingle
Foundation

Concrete
Elevator

n/a
Water View

n/a
Laundry Level

Upper
Heat

Forced Air
A/C

Central Air
Water

Municipal
Water Supply

n/a
Sewers

Sewers
Central Vac

Y

MLS #

N12809798
Sq. Ft

3000-3500
Sq. Ft. Source

MLS
Lot Irregularities

n/a
Year Built

Available Upon Request
Pool

None
Drive

n/a
Garage

Built-In, 2 spaces
Total Parking

6
Family Room

Y
Den

Y
Exterior

Stone
Fireplace

Y
Roof

Asphalt Shingle
Foundation

Concrete
Elevator

n/a
Water View

n/a
Laundry Level

Upper
Heat

Forced Air
A/C

Central Air
Water

Municipal
Water Supply

n/a
Sewers

Sewers
Central Vac

Y

Dining

18.0 x 14.0 ft Main level

B/I Bar, Open Concept, hardwood floor
Living

16.0 x 12.0 ft Main level

Large Window, Open Concept, hardwood floor
Breakfast

14.0 x 9.0 ft Main level

Tile Floor, Large Window, Open Concept
Kitchen

14.0 x 7.0 ft Main level

B/I Appliances, Open Concept, Tile Floor
Library

10.0 x 9.8 ft Main level

hardwood floor, Open Concept, Large Window
Powder Rm

0.0 x 0.0 ft Main level

2 Pc Bath, B/I Vanity, Tile Floor
Mudroom

0.0 x 0.0 ft Main level

Tile Floor, W/I Closet, Access To Garage
Foyer

0.0 x 0.0 ft Main level

Tile Floor, Closet Organizers, Large Closet
Primary

17.7 x 14.0 ft 2nd level

5 Pc Ensuite, W/I Closet, hardwood floor
2nd Br

13.6 x 12.8 ft 2nd level

4 Pc Ensuite, hardwood floor, W/I Closet
3rd Br

11.5 x 11.0 ft 2nd level

4 Pc Ensuite, hardwood floor, Large Closet
4th Br

12.6 x 10.0 ft 2nd level

4 Pc Ensuite, hardwood floor, Closet
Laundry

0.0 x 0.0 ft 2nd level

Large Window, Laundry Sink, Tile Floor
Rec

0.0 x 0.0 ft Bsmt level

Wet Bar, W/O To Yard, 3 Pc Bath

Contact Manoj Kukreja

Sales Representative,
Century 21 People’s Choice Realty Inc.,
Brokerage
(647) 576 - 2100

Estimated price

Date

Price

Change

2026-02-22

$2,191,022

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Local Real Estate Price Trends for Detached in Observatory

Active listings

Average Selling Price of a Detached

October 2026

$1,480,000

Last 3 Months

$1,131,210

Last 12 Months

$1,600,301

October 2025

$2,578,750

Last 3 Months LY

$1,993,472

Last 12 Months LY

$1,903,696

Change

-43%

Change

-43%

Change

-16%

Historical Average Selling Price of a Detached in Observatory

Average Selling Price

3 years ago

$1,585,044

Average Selling Price

5 years ago

$3,012,900

Average Selling Price

10 years ago

$1,236,000

Change

-7%

Change

-51%

Change

20%

Number of Detached Sold

October 2026

Last 3 Months

Last 12 Months

October 2025

Last 3 Months LY

Last 12 Months LY

Change

-75%

Change

-75%

Change

-33%

How many days Detached takes to sell (DOM)

October 2026

Last 3 Months

Last 12 Months

October 2025

Last 3 Months LY

Last 12 Months LY

Change

-91%

Change

-50%

Change

-17%

Average Selling price

Inventory Graph

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Down Payment(%)*

Additional information

Provincial Land Transfer Tax

Ontario Land Transfer Tax Rebate

Toronto Land Transfer Tax

Toronto Land Transfer Tax Rebate

PST on CMHC Insurance Premium

Lawyer Fees

$2,825

Government Registration Fee's

$164

Title Insurance

Closing Cost Total

Total Cash flow for purchasing this property

Provincial Land Transfer Tax

Ontario Land Transfer Tax Rebate

Toronto Land Transfer Tax

Toronto Land Transfer Tax Rebate

PST on CMHC Insurance Premium

Lawyer Fees

$2,825

Government Registarion Fee's

$164

Title Insurance

Purchase Price

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Down Payment(%)*

First time home buyer

* A down payment of less than 20% is permitted only for first-time home buyers purchasing their principal residence. The minimum down payment required is 5% for the portion of the purchase price up to $500,000, and 10% for the portion between $500,000 and $1,500,000. For properties priced over $1,500,000, a minimum down payment of 20% is required.