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$488,000

111 7297 Moffatt Road

Richmond · MLS® R3147578

2 bed · 1 bath · 948 sq ft · 1 parking

Condo · Single Family · built 1982 · 85 days on market

Listed by Nicola More, Oakwyn Realty Ltd.

Realtor's description

Welcome to this bright and beautifully updated 2-bedroom, 1-bath east-facing condo in the heart of Richmond. Perfectly positioned to capture the morning sun, this centrally located home offers both comfort and convenience in a highly desirable community. A thoughtfully renovated kitchen and bathroom (2019), featuring modern finishes and timeless design. The functional layout offers spacious bedrooms, an inviting living area, and large windows that fill the home with natural light. Enjoy resort-style amenities including an outdoor pool, fully equipped gym, and beautifully maintained mature gardens. Just steps from parks, shopping, schools, and transit, this location truly has it all. An ideal opportunity for first-time buyers and downsizers! NEW CARPET IN THE BEDROOMS, NEWLY PAINTED and NEW BLINDS! Nothing to do but move in! Some photos virtually staged.

Property details

Type: Condo, Single Family
Bedrooms: 2
Bathrooms: 1
Living area: 948 sq ft
Parking: 1
Year built: 1982
Property tax: $1,680 / yr
Strata fee: $375 / mo ($0.40 / sq ft)
Strata rules: Pets Allowed With Restrictions
Days on market: 85
MLS®: R3147578

Buying in a building from 1982 to 2000: what to read first

Features

Central location
Cul-de-sac
Elevator
Pets Allowed With Restrictions

Floor plans

Found among the listing photos.

Price check

Below typical for the area (-35%)

2026 assessment: $495,900 · asking is -1.6%
Price per sq ft: $515 vs $788 median for condos in Richmond for sale (826)

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 85 days · no price changes so far

The market here

Listed now: 66 days; median for 859 condos for sale; this one 85 days

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

Property tax by year

Year	Assessed	Est. tax
2026	$495,900	$1,755

The listing shows $1,680 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

$2,641/mo

Mortgage $2,126 · Tax $140 · Strata $375

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

estimated payment

$2,126/ monthly

loan $390,400

25-year amortization

down payment20% · $97,60020%+ down: no mortgage insuranceinterest rate4.34%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 11, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $247,451
property transfer tax: $7,760; BC general rate
cash to close: $105,360; down + PTT
total paid: $637,851

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: $2,046/mo
After all costs: −$793/mo
Cap rate: 3.3%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $2,126 · tax $140 · strata $375 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent starts at CMHC's average for a 2-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: 10,892 m² (117,240 sq ft) · PID 002-601-796. 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 W D Ferris Elementaryhomes in this catchment
700 m away · 7520 Sunnymede Cres, Richmond · 604-668-6538
Secondary Richmond Secondaryhomes in this catchment
300 m away · 7171 Minoru Blvd, Richmond · 604-668-6400

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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