1302 5580 No. 3 Road

Richmond · MLS® R3179117

all units at 5580 No 3 Rd →

996 sq ft · Condo · Single Family · built 2018 · listed today

listed by Jack Wen, RE/MAX Crest Realty

realtor's description

PRIME LOCATION IN THE HEART OF CENTRAL RICHMOND! Welcome to Orchid by reputable developer Beedie Living. This desirable southeast corner unit offers unobstructed city and mountain views, along with spacious 8'8" ceilings in the living area. A rare and highly sought-after layout features all three bedrooms facing south, allowing an abundance of natural light throughout the home. Just steps from Lansdowne SkyTrain Station, with shopping, cafes, restaurants, and everyday essentials all within walking distance. Enjoy the perfect combination of comfort, convenience, and urban living. Don't miss this exceptional opportunity!

property details

type: Condo, Single Family
bedrooms: 3
bathrooms: 2
living area: 996 sq ft
parking: 0
year built: 2018
property tax: $3,092 / yr
strata fee: $760 / mo ($0.76 / sq ft)
strata rules: Pets Allowed With Restrictions
days on market: 0
MLS®: R3179117

features

Elevator
Pets Allowed With Restrictions
All

the market here

listed now: 73 days; median for 797 condos for sale; this one listed today

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

property tax by year

year	assessed	est. tax
2026	$901,000	$3,188
2025	$968,000	$3,092

Estimated tax up 3.1% from 2025 to 2026.

The listing shows $3,092 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

$4,938/mo

Mortgage $3,921 · Tax $258 · Strata $760

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

estimated payment

$3,921/ monthly

loan $719,920

25-year amortization

down payment20% · $179,98020%+ down: no mortgage insuranceinterest rate4.34%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 28, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $456,313
property transfer tax: $15,998; BC general rate
cash to close: $195,978; down + PTT
total paid: $1,176,233

first-time buyernewly builtforeign national

Estimates only. Rates change daily and lenders qualify at the stress-test rate. Talk to a mortgage broker before you offer. Transfer tax: 1% to $200k, 2% to $2M, 3% to $3M, 5% above. First-time buyers pay nothing on the first $500k for homes up to $835k (phasing out by $860k); newly built homes are exempt up to $1.1M (phasing out by $1.15M). Both need Canadian citizenship or permanent residence and other conditions; the 20% foreign buyer tax applies in Metro Vancouver, the Fraser Valley, the Capital Region, Central Okanagan and Nanaimo.

if you rented it out

rent: $2,960/mo
after all costs: −$2,250/mo
cap rate: 2.2%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $3,921 · tax $258 · strata $760 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 3+ bedroom in Richmond: CMHC's average there ($2,500) raised by what new tenants pay against everyone in the Vancouver area, then down 3.5% with Vancouver's asking rents, 2025 Q4 → 2026 Q2. (CMHC Rental Market Survey, October 2025; CMHC Rental Market Report 2025, table 6.0 (rents on units that turned over to a new tenant); trend: Statistics Canada.) 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: 3,615 m² (38,911 sq ft) · PID 030-525-756. from ParcelMap BC; property lines are approximate, a survey is the legal boundary.

RichmondGoogle Maps ↗

Rapid transit: Lansdowne SkyTrain station, 100 m (about 2 min walk); Richmond–Brighouse SkyTrain station, 600 m (about 9 min walk).

schools

Catchment schools, Richmond School District 38

Elementary City Centre Elementaryhomes in this catchment
Secondary A.R. MacNeill Secondaryhomes in this catchment
1.7 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.

Keep private notes and ratings on homes you're considering. (email only) and they follow you to every device.