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$465,000

1105 3111 CORVETTE WAY

Richmond · MLS® R3171241

All units at 3111 Corvette Way →

1 bed · 1 bath · 550 sq ft · 1 parking

Condo · Single Family · built 2010 · 8 days on market

Listed by Timothy Chan, Macdonald Realty Westmar

Realtor's description

Welcome to Wall Centre Richmond! This bright 1-bedroom home offers comfortable living in a well-maintained concrete building in the heart of West Cambie. Enjoy a desirable north-facing outlook, 1 parking stall, and convenient access to transit, shopping, restaurants, and everyday amenities. With Capstan Station just minutes away, this is an excellent opportunity for first-time buyers, investors, or anyone seeking a convenient Richmond lifestyle. Open house Sunday Oct 4th 2-4pm. https://youtu.be/ZV-vHbcp70Q?si=0xWRfjOOY7gusnpM

Property details

Type: Condo, Single Family
Bedrooms: 1
Bathrooms: 1
Living area: 550 sq ft
Parking: 1
Year built: 2010
Property tax: $1,716 / yr
Strata fee: $415 / mo ($0.75 / sq ft)
Strata rules: Pets Allowed With Restrictions
Days on market: 8
MLS®: R3171241

Features

Central location
Pets Allowed With Restrictions
All
Dishwasher

Price check

Above typical for the area (+7.1%)

2026 assessment: $485,000 · asking is -4.1%
Price per sq ft: $845 vs $789 median for condos in Richmond for sale (821)

An estimate from public BC Assessment records, registered sales and the listings for sale right now, not an appraisal. Condition, renovations, views and lot all move real value.

Property insights

On market 8 days · no price changes so far

The market here

Listed now: 66 days; median for 852 condos for sale; this one 8 days

Condos in Richmond. Sale prices register 1 to 3 months after a sale closes.

Property tax by year

Year	Assessed	Est. tax
2026	$485,000	$1,716
2025	$545,000	$1,741

Estimated tax down 1.4% from 2025 to 2026.

The listing shows $1,716 a year in property tax.

Estimate: the BC Assessment value times Richmond's residential tax rate for that year (Province of BC, local government statistics). Leaves out the home owner grant, parcel taxes and utility charges; the city's tax notice is the real figure.

Monthly cost

$2,584/mo

Mortgage $2,026 · Tax $143 · Strata $415

20% down at 4.34% fixed (Ratehub.ca), 25 years; tax from the listing; strata fee from the listing.

estimated payment

$2,026/ monthly

loan $372,000

25-year amortization

down payment20% · $93,00020%+ down: no mortgage insuranceinterest rate4.34%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 9, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $235,788
property transfer tax: $7,300; BC general rate
cash to close: $100,300; down + PTT
total paid: $607,788

Estimates only. Rates change daily and lenders qualify at the stress-test rate; first-time-buyer and newly-built PTT exemptions aren't applied. Talk to a mortgage broker before you offer.

If you rented it out

Rent: $1,676/mo
After all costs: −$1,077/mo
Cap rate: 2.4%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $2,026 · tax $143 · strata $415 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent starts at CMHC's average for a 1-bedroom in Richmond (CMHC Rental Market Survey, October 2025). Averages include long-time tenants, so new leases usually ask more; houses usually rent for more than apartments. 25-year mortgage; rental purchases need at least 20% down.

BC rules for landlords

Short-term rentals are limited to the host's principal residence in most communities. gov.bc.ca
Rent increases are capped once a year at the province's set amount. gov.bc.ca
The speculation and vacancy tax applies in many areas to homes not lived in or rented out. gov.bc.ca
Selling within two years of buying can trigger the BC home flipping tax. gov.bc.ca

Location

The building's lot: 9,302 m² (100,126 sq ft) · PID 028-071-930. From ParcelMap BC; property lines are approximate, a survey is the legal boundary.

RichmondGoogle Maps ↗

Location

RichmondGoogle Maps ↗

Schools

Catchment schools, Richmond School District 38

Elementary R. C. Talmey Elementaryhomes in this catchment
1.1 km away · 9500 Kilby Dr, Richmond · 604-668-6275
Secondary A.R. MacNeill Secondaryhomes in this catchment
3.1 km away · 6611 No. 4 Rd, Richmond · 604-668-6212

From the Richmond School District 38's published catchment maps. A catchment gives priority, not a guaranteed seat, and French immersion and choice programs work differently. The district confirms catchment: check with its school locator.

Good to know

Wildfire
The BC Wildfire Service rates Vancouver's wildland urban interface as risk class 5 of 5 (lowest; 1 is the highest). One wildfire of 10 hectares or more burned within 5 km since 2006: 2018 (13 ha). Some insurers price for wildfire, and FireSmart BC has a free home assessment guide.
Source: BC Wildfire Service, WUI risk class and fire perimeters

From public government maps, matched to the listing's map pin. Maps can be out of date or miss a lot line; confirm with the municipality.

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