$699,000 GREY SUITE-ARB
Description
Rating 39 /100
| Equity | 17.7/40 | -2,124 vs limit (-0.2% of ARV) | |
| Cash flow | 3.5/30 | -636/mo | |
| Suite-arb | 15.0/15 | add-a-suite opportunity, unpriced | |
| Motivation | 2.7/15 | 35d on market, 1 cut(s) |
Offer case
Price can't fix this. rent test — needs 3,536/mo vs 3,400 estimated. Price cannot fix this; only higher rent (a suite) or a lower ARV would.
EVIDENCE
- Coast-wide, homes sell at 97.6% of list — a 2.4% discount is simply normal here.
- 1 price cut(s) already — the seller has shown they will move.
- Already asking below the $495/sqft local sold level — little room to push.
The four tests
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $3,400 typical self-managed |
$3,400 typical PM |
$3,900 high self-managed |
$3,900 high PM |
|---|---|---|---|---|
| $699,000 | −$330 | −$636 | +$115 | −$236 |
| $664,050 −5.0% | −$190 | −$496 | +$255 | −$96 |
| $639,585 −8.5% | −$92 | −$398 | +$353 | +$2 |
Comps & ARV
ARV $883,948
range $773,450 – $1,071,388
(about half of comparable sales landed inside this band)
median $/sqft of 12 renovated size-matched sales (12 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence medium
($/sqft used: 418)
Cross-check: comps say $931,304, BC Assessment × sale ratio says $773,450 (+20% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 4598 Whitaker Rd | 0.41 km | 1,707 | ~$712,772 | 418 | 2026-02-03 | ✓ |
| 4967 Laurel Ave | 1.0 km | 2,039 | ~$820,078 | 402 | 2026-02-23 | ✓ |
| 6242 Norwest Bay Rd | 5.46 km | 1,707 | ~$671,275 | 393 | 2025-10-19 | ✓ |
| 5833 Heron Pl | 5.46 km | 1,915 | ~$829,842 | 433 | 2025-11-10 | ✓ |
| 6355 Baillie Rd | 5.74 km | 2,288 | ~$1,220,500 | 533 | 2026-01-22 | ✓ |
| 5656 Cook Pl | 6.26 km | 2,330 | ~$876,807 | 376 | 2026-05-19 | ✓ |
| 7462 Redrooffs Rd | 10.45 km | 2,851 | ~$828,964 | 291 | 2025-10-23 | ✓ |
| 8362 Redrooffs Rd | 13.54 km | 2,140 | ~$1,049,630 | 490 | 2026-02-09 | ✓ |
| ~ = final list price × measured sale ratio (BC title registration lags ~3 years, so recent solds have no registered price; the proxy is within ~2% of the registered price when both exist) | ||||||
Price & sale history
Seller basis: $589,888, 2018-11-15 — asking +18.5%
| 2026-08-28 | relist | time-on-market reset — relisted |
| 2026-08-28 | price_cut | 745000 → 699000 -6.2% |
| 2026-08-07 | delisted | absent from search results |
| 2026-08-06 | new | 745000 first seen at $745,000 |
| 2026-08-28 | Listed | $699,000 GVR |
| 2018-11-15 | Sold (Public Records) | $589,888 Public Records |
| 2018-07-09 | Listed | $625,000 GVR |
| 2016-04-14 | Sold (Public Records) | $409,000 Public Records |
| 2016-02-06 | Listed | $409,000 GVR |
| 2010-02-26 | Sold (Public Records) | $348,000 Public Records |
| 2009-09-28 | Listed | $349,900 GVR |
| 2003-08-20 | Listed | $215,000 GVR |
Zoning & land
R-1 — Large Lot, Low Density Residential suite OK
Single-unit dwelling zone in all three bylaws, but the suite path differs. Areas B/D/E/F: suite permitted on any parcel EXCEPT inside an SCRD wastewater service area — check that first, it is the one thing that kills it outright. Also an auxiliary dwelling unit over 2000 m2 and a second single-unit dwelling over 3500 m2. Area A: no general suite right at all; an auxiliary dwelling unit needs over 2000 m2, a second dwelling needs 4000 m2. Sechelt R-1: secondary suite is a listed accessory use, plus a detached accessory dwelling unit at 2000 m2 and up (unsewered large-lot zone). [Bylaw 722.9 s.5.1.1(h), s.5.24.1, s.7.1.2; Bylaw 337 s.601.1; Bylaw 580 s.1.1.2-1.1.3]
| PID | 009-556-788 |
|---|---|
| Parcel | 4726 LAUREL AVE (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $775,000 |
|---|---|
| Land / improvements | $593,000 / $182,000 (76% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.11 asking under assessment |
| BCA folio | 570.03239.000 |
Open questions
- Confirm suite legality with the planning department — zone says yes, verify parcel specifics (parking, servicing, floor-area cap).
- Built 1965 — oil-tank era. Ask for a tank scan or decommissioning certificate.