Cottage Living in the City**This exquisite 2.5 storey waterfront property nestles on the pristine shores of Lake Wilcox, offering direct access to fishing, boating, and water sports. This lakeside property is just steps from Yonge Street, scenic walking trails, parks, and the community centre, it perfectly blends natural beauty with urban convenience.Featuring 4 plus 1 spacious bedrooms and 3 luxurious full bathrooms, this meticulously designed residence showcases timeless craftsmanship and elegant finishes throughout. Gleaming hardwood floors and a cozy gas fireplace grace every level, creating an inviting and warm ambiance. The lower level boasts a private office, a laundry room and a fully finished in law apartment, ideal for multigenerational living or hosting guests with privacy and style.The main floor impresses with a chef inspired kitchen featuring custom cabinetry, granite countertops, a double oven, and premium stainless steel appliances. The open concept dining and family areas maximize stunning lake views, inviting natural light to fill the space. Step outside to a lakeside deck with a remote controlled retractable screen and heater, perfect for year round entertaining.The expansive lower deck offers lounge seating, a gas fire table, and a bespoke outdoor bar designed for memorable gatherings and relaxing evenings. Professionally landscaped grounds with ambient lighting and a heated workshop complete this exceptional backyard oasis.Upstairs, retreat to the elegant master suite featuring a generous walk in closet and spa inspired ensuite with double vanity, walk in shower, and a luxurious soaker tub. Enjoy breathtaking panoramic lake views from your private upper deck, a perfect sanctuary to unwind.This rare waterfront property marries refined cottage charm with sophisticated city living, offering an unparalleled lifestyle of comfort, elegance, and unforgettable lakefront experiences.
4 bedrooms, 3 bathrooms, about 2,500 sq ft, works out to roughly $1,060 per square foot. Chat with Zara if you'd like a deeper read on whether this detached fits your budget and timing.
Inside 245 Lakeland Cres
Every detail from the listing, in one place.
Type
Detached
Style
2 1/2 Storey
Living space
2500-3000 sq ftas stated on the listing
Parking
4 spaces
Basement
Apartment, Finished
Features & systems
Parking & garage
Parking spaces
4
Interior
Basement
Apartment · Finished
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
2 1/2 Storey
Property class
Detached
245 Lakeland Cres Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
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
$13,014
/mo
based on the purchase price of $2,649,000
$529,800 cash
$2,119,200 financed
$1,784,923 total interest
Principal54%$2,119,200
Interest46%$1,784,923
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 3–5 bed homes for sale in Richmond Hill around $2.6M.
Average days on market34Homes sold in about 34 days on average.
Sale-to-list ratio98.8%On average, homes sold below asking.
Active listings1,218Homes 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.
245 Lakeland Cres is listed at $2,649,000 (MLS® N13730176). Summitly updates the price as soon as the MLS® record changes.
Is $2,649,000 a good price for 245 Lakeland Cres?
Summitly rates it Well Above Market: the asking price is 15% or more 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 245 Lakeland Cres changed?
Yes — it was first listed at $2,699,000 and is now $2,649,000, a drop of $50,000 (1.9%).
How many bedrooms and bathrooms does 245 Lakeland Cres have?
245 Lakeland Cres has 4 bedrooms and 3 bathrooms, with about 2,500–3,000 square feet of living space. It is a detached home in Richmond Hill.
Is 245 Lakeland Cres close to transit?
The nearest rapid-transit station is Gormley GO Station (Richmond Hill GO), about 3.5 km in a straight line. Bloomington GO Station is about 4.5 km. Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How much would the monthly mortgage be on 245 Lakeland Cres?
About $13,014 a month — principal and interest on $2,649,000 with 20% down ($529,800), 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 245 Lakeland Cres compare with other homes in Richmond Hill?
Its asking price of $2,649,000 is about 134% 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 245 Lakeland Cres been sold before?
Summitly has no earlier MLS® sale or lease of 245 Lakeland Cres on record from the last two years. Older records aren't shown under TRREB rules.
Where is 245 Lakeland Cres?
245 Lakeland Cres is in Richmond Hill, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 245 Lakeland Cres been on the market?
52 days — 245 Lakeland Cres was listed on September 1, 2026.
What is the price per square foot of 245 Lakeland Cres?
About $883 to $1,060 per square foot: the asking price of $2,649,000 over the 2,500–3,000 sq ft the listing gives as its size range.
