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$1,280,000

22 5988 LANCING RD

Richmond · MLS® R3156595

4 bed · 3 bath · 1,581 sq ft · 2 parking

Townhouse · Single Family · built 2005 · 53 days on market

Listed by Dennis Wang, Nu Stream Realty Inc.

Realtor's description

Owner renovated the whole townhouse in 2022 after they bought . Well maintained by owners till now. 3 bedrooms above with 1 on the 1st floor. Attached private garage with 1 parking & ample room for storage and 1 carport parking. Near elementary school and secondary school. Walking distance to Blundell shopping center.TD bank , BMO bank , many restaurants , McDonald's , and shopping center .

Property details

Type: Townhouse, Single Family
Bedrooms: 4
Bathrooms: 3
Living area: 1,581 sq ft
Parking: 2
Year built: 2005
Property tax: $3,679 / yr
Strata fee: $390 / mo ($0.25 / sq ft)
Strata rules: Rentals Allowed With Restrictions
Days on market: 53
MLS®: R3156595

Features

Rentals Allowed With Restrictions
All
Refrigerator
Dishwasher
Stove

Floor plans

Found among the listing photos.

Price check

Above typical for the area (+13%)

2026 assessment: $1,088,000 · asking is +18%
Price per sq ft: $810 vs $717 median for townhouses in Richmond for sale (346)

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 53 days · no price changes so far

The market here

Listed now: 52 days; median for 353 townhouses for sale; this one 53 days

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

Property tax by year

Year	Assessed	Est. tax
2026	$1,088,000	$3,850

The listing shows $3,679 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

$6,274/mo

Mortgage $5,577 · Tax $307 · Strata $390

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

estimated payment

$5,577/ monthly

loan $1,024,000

25-year amortization

down payment20% · $256,00020%+ 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: $649,051
property transfer tax: $23,600; BC general rate
cash to close: $279,600; down + PTT
total paid: $1,673,051

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: −$4,149/mo
Cap rate: 1.3%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $5,577 · tax $307 · strata $390 · 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: 4,507 m² (48,513 sq ft) · PID 026-472-911. 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
500 m away · 7360 Lombard Rd, Richmond · 604-668-6470
Secondary J.N. Burnett Secondaryhomes in this catchment
1.1 km 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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