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$1,038,000

2 7231 NO. 2 ROAD

Richmond · MLS® R3133904

All units at 7231 No 2 Rd →

3 bed · 3 bath · 1,312 sq ft · 2 parking

Townhouse · Single Family · built 2009 · 121 days on market

Listed by Bruce Li, RE/MAX Westcoast

Realtor's description

Orchid Lane in central Richmond, a highly sought-after community perfect for growing families. This well-maintained townhouse offers a functional layout with 3 bedrooms, 2.5 bathrooms, front and rear decks, a double tandem garage, and an additional storage room. Quality finishes include stainless steel appliances, laminate flooring, tile backsplash, granite countertops, and crown mouldings throughout. Enjoy abundant natural light and comfortable family living. Conveniently located just steps from McKay Elementary and Burnett Secondary, and within walking distance to public transit and Blundell Shopping Centre, featuring banks, grocery stores, coffee shops, and restaurants. An excellent opportunity in a prime location-call today to book your private showing.

Property details

Type: Townhouse, Single Family
Bedrooms: 3
Bathrooms: 3
Living area: 1,312 sq ft
Parking: 2
Year built: 2009
Property tax: $3,615 / yr
Strata fee: $397 / mo ($0.30 / sq ft)
Strata rules: Pets Allowed With Restrictions, Rentals Allowed With Restrictions
Days on market: 121
MLS®: R3133904

Features

Pets Allowed With Restrictions
Rentals Allowed With Restrictions
All
Dishwasher

Price check

Above typical for the area (+10%)

2026 assessment: $1,058,000 · asking is -1.9%
Price per sq ft: $791 vs $717 median for townhouses in Richmond for sale (344)
Last sold: $1,030,000 · Jan 29, 2023

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 121 days · no price changes so far

The market here

Listed now: 51 days; median for 352 townhouses for sale; this one 121 days

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

Property tax by year

Year	Assessed	Est. tax
2026	$1,058,000	$3,744

The listing shows $3,615 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

$5,221/mo

Mortgage $4,522 · Tax $301 · Strata $397

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

estimated payment

$4,522/ monthly

loan $830,400

25-year amortization

down payment20% · $207,60020%+ 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: $526,340
property transfer tax: $18,760; BC general rate
cash to close: $226,360; down + PTT
total paid: $1,356,740

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: $2,500/mo
After all costs: −$3,096/mo
Cap rate: 1.6%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $4,522 · tax $301 · strata $397 · insurance ~$175 · vacancy 3% · upkeep 5%.

Rent starts at CMHC's average for a 3+ 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: 4,603 m² (49,546 sq ft) · PID 027-841-146. 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 Donald E McKay Elementaryhomes in this catchment
400 m away · 7360 Lombard Rd, Richmond · 604-668-6470
Secondary J.N. Burnett Secondaryhomes in this catchment
800 m away · 5011 Granville Ave, Richmond · 604-668-6478

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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