Rare opportunity to own a nearly new, extensively upgraded luxury detached home in the prestigious David Dunlap Observatory neighbourhood. With a ravine at your back door, a rooftop terrace above the treeline, and an elevator that carries you between all four levels in the prestigious David Dunlap Observatory neighbourhood. Built in 2022 by Aspen Ridge, offering over 6,800 sq ft of total living space and approximately $300,000 in premium upgrades. This is one of only a handful of homes in Observatory Hill with all three signature features: a true ravine lot, a private four-stop elevator, and a third-floor loft that walks out to its own rooftop terrace over the trees. Inside, 4,303 sq ft above grade plus a fully finished basement. Ten-foot ceilings, coffered detailing, and engineered oak hardwood run through the main and upper floors. The chef inspired kitchen is built for people who actually cook and entertain, with a Wolf gas range, Sub-Zero fridge, and a 17-foot waterfall island with a servery behind it for prep and overflow. Five bedrooms upstairs, one bedroom in the basement, six bathrooms in total. Room for a large family, a live-in parent, or guests who stay a while without anyone feeling on top of each other. The primary suite looks straight out over the ravine, with heated ensuite floors and a freestanding soaking tub. The basement adds a second wet bar, a large rec room, a separate den, and radiant floor heating. Conveniently minutes to Yonge St, Hillcrest Mall, Mackenzie Health, Richmond Hill GO, Highway 404, Highway 407, and top-ranked schools including Bayview Secondary School.
5 bedrooms, 5 bathrooms, about 3,500 sq ft, works out to roughly $768 per square foot, the bed-to-bath ratio is generous. Chat with Zara if you'd like a deeper read on whether this detached fits your budget and timing.
Inside 121 Milky Way Dr
Every detail from the listing, in one place.
Type
Detached
Style
2 1/2 Storey
Living space
3500-5000 sq ftas stated on the listing
Parking
5 spacesYes garage
Basement
Finished, Full
Features & systems
Parking & garage
Garage
Yes
Parking spaces
5
Interior
Basement
Finished · Full
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
2 1/2 Storey
Property class
Detached
121 Milky Way Dr Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® N13729320$2,688,888
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 121 Milky Way Dr Compares to the Richmond Hill Market
Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.
Independent mortgage broker · OAC · rates subject to change and underwritingMortgage Squad →
Referral disclosure: Summitly may refer you to Mortgage Squad Advisors, an affiliated mortgage partner. You are free to choose any lender or mortgage professional.
Monthly cost
Enter a rate to see the monthly cost
An estimate, not a quote. Utilities and insurance are extra.
Affordability calculator
Estimated monthly payment
$13,210
/mo
based on the purchase price of $2,688,888
$537,778 cash
$2,151,110 financed
$1,811,799 total interest
Principal54%$2,151,110
Interest46%$1,811,799
20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.
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Figures are Summitly estimates for illustration only — not from TRREB or the MLS® feed, and not a mortgage approval, appraisal, or financial advice.
Rental income potential
Est. monthly rent
low–high
Gross yield
rent × 12 ÷ price
Cap rate (est.)
net of tax + fees
Summitly AI estimate for discussion only — not from TRREB or the MLS® feed, and not an appraisal or investment advice. Yield and cap rate are derived from the estimated rent versus the asking price.
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Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Similar homes for sale nearby in Richmond Hill
Other 4–5 bed homes for sale in Richmond Hill around $2.7M.
Average days on market34Homes sold in about 34 days on average.
Sale-to-list ratio98.8%On average, homes sold below asking.
Active listings1,222Homes for sale here right now.
Median vs prior 90 days+2.9%Compared with Apr 26 – Jul 25, 2026: prices up.
Based on 803 sales from Jul 25 – Oct 23, 2026 (591 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
121 Milky Way Dr is listed at $2,688,888 (MLS® N13729320). Summitly updates the price as soon as the MLS® record changes.
Is $2,688,888 a good price for 121 Milky Way Dr?
Summitly rates it Above Market: the asking price is 5% to 15% above Zara's estimate, an estimate built from recent sales in Richmond Hill. The rating is an automated opinion, not an appraisal; "What's it worth?" on this page shows how it is worked out. See Zara's estimate
Has the price of 121 Milky Way Dr changed?
No — 121 Milky Way Dr is still listed at its original asking price of $2,688,888.
How many bedrooms and bathrooms does 121 Milky Way Dr have?
121 Milky Way Dr has 5 bedrooms and 5 bathrooms, with about 3,500–5,000 square feet of living space. It is a detached home in Richmond Hill.
Is 121 Milky Way Dr close to transit?
The nearest rapid-transit station is Richmond Hill GO Station (Richmond Hill GO), about 1.3 km (about a 17-minute walk) in a straight line. Langstaff GO Station is about 2.9 km. Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How much would the monthly mortgage be on 121 Milky Way Dr?
About $13,210 a month — principal and interest on $2,688,888 with 20% down ($537,778), a 25-year amortization and an assumed 5.5% interest rate. The mortgage calculator on this page lets you change the down payment, amortization and rate.
How does 121 Milky Way Dr compare with other homes in Richmond Hill?
Its asking price of $2,688,888 is about 138% above the median sold price in Richmond Hill over the last 90 days, $1,131,800, across 803 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Has 121 Milky Way Dr been sold before?
Summitly has no earlier MLS® sale or lease of 121 Milky Way Dr on record from the last two years. Older records aren't shown under TRREB rules.
Where is 121 Milky Way Dr?
121 Milky Way Dr is in Richmond Hill, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 121 Milky Way Dr been on the market?
53 days — 121 Milky Way Dr was listed on August 31, 2026.
What is the price per square foot of 121 Milky Way Dr?
About $538 to $768 per square foot: the asking price of $2,688,888 over the 3,500–5,000 sq ft the listing gives as its size range.
Does 121 Milky Way Dr have parking or a garage?
Yes — the listing gives 5 parking spaces. Garage: Yes.
