Opportunity knocks on a premium lot in one of Richmond Hill's most sought-after pockets. Situated off Bayview and Major Mackenzie, this 3 bedroom, 3 bathroom semi just under 1600 square feet of above grade living space. The open concept main floor is filled with natural light. The bedrooms are generously sized. The primary bedroom features a walk-in closet and private ensuite, with a second full bathroom upstairs. The finished basement has a walk-out to the backyard, offering in-law suite potential. Mature trees in both the front and backyard provide added privacy. Interior access to the attached garage provides everyday convenience. Whether you are an end user looking to renovate and make a property feel like your own, or an investor looking for strong rental income potential, this is a true value-add opportunity. Minutes to Highway 404, big name retailers, restaurants, and parks, all within the Bayview Secondary School area. Homes with this much upside in this location don't come around often.
3 bedrooms, 2 bathrooms, about 1,500 sq ft, works out to roughly $666 per square foot. Chat with Zara if you'd like a deeper read on whether this semi-detached fits your budget and timing.
Inside 94 Formosa Dr
Every detail from the listing, in one place.
Type
Semi-Detached
Style
2-Storey
Living space
1500-2000 sq ftas stated on the listing
Parking
3 spacesYes garage
Basement
Finished with Walk-Out
Features & systems
Parking & garage
Garage
Yes
Parking spaces
3
Interior
Basement
Finished with Walk-Out
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
2-Storey
Property class
Semi-Detached
94 Formosa 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® N14093166$999,000
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 94 Formosa 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
$4,908
/mo
based on the purchase price of $999,000
$199,800 cash
$799,200 financed
$673,136 total interest
Principal54%$799,200
Interest46%$673,136
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 3–4 bed homes for sale in Richmond Hill around $999K.
Average days on market34Homes sold in about 34 days on average.
Sale-to-list ratio98.8%On average, homes sold below asking.
Active listings1,242Homes for sale here right now.
Median vs prior 90 days+2.7%Compared with Apr 24 – Jul 23, 2026: prices up.
Based on 819 sales from Jul 23 – Oct 21, 2026 (592 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
94 Formosa Dr is listed at $999,000 (MLS® N14093166). Summitly updates the price as soon as the MLS® record changes.
Is $999,000 a good price for 94 Formosa Dr?
Summitly rates it Good Deal: the asking price is 3% to 10% below 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 94 Formosa Dr changed?
No — 94 Formosa Dr is still listed at its original asking price of $999,000.
How many bedrooms and bathrooms does 94 Formosa Dr have?
94 Formosa Dr has 3 bedrooms and 2 bathrooms, with about 1,500–2,000 square feet of living space. It is a semi-detached home in Richmond Hill.
Is 94 Formosa Dr close to transit?
The nearest rapid-transit station is Richmond Hill GO Station (Richmond Hill GO), about 1.9 km (about a 24-minute walk) in a straight line. Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How much would the monthly mortgage be on 94 Formosa Dr?
About $4,908 a month — principal and interest on $999,000 with 20% down ($199,800), 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.
Are there open houses at 94 Formosa Dr?
Yes — Saturday, October 24, 1:00 PM – 3:00 PM. Open-house times come from the listing brokerage and can change, so check this page before you go, or book a private viewing.
How does 94 Formosa Dr compare with other homes in Richmond Hill?
Its asking price of $999,000 is about 12% below the median sold price in Richmond Hill over the last 90 days, $1,130,000, across 819 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 94 Formosa Dr been sold before?
Summitly has no earlier MLS® sale or lease of 94 Formosa Dr on record from the last two years. Older records aren't shown under TRREB rules.
Where is 94 Formosa Dr?
94 Formosa Dr is in Richmond Hill, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 94 Formosa Dr been on the market?
2 days — 94 Formosa Dr was listed on October 19, 2026.
What is the price per square foot of 94 Formosa Dr?
About $500 to $666 per square foot: the asking price of $999,000 over the 1,500–2,000 sq ft the listing gives as its size range.
