$699,000 GREY
535 Shaw Rd #22, Gibsons
2 bd · 2.0 ba · 1,252 sqft
· 4,854 sqft lot
· built 2002
· 24 DOM · MLS R3161231
Listing: Redfin search · fetched 2026-09-27T19:15
Description
Imagine enjoying your morning coffee in a fully fenced garden surrounded by mature landscaping, then heading out knowing shopping, restaurants, and recreation are only minutes away. Unlike many downsizing options, this home is fully detached, offers single-level living, and includes a true double garage with room for vehicles, storage, or a workshop. The bright, open layout feels welcoming from the moment you walk in, while the generous primary bedroom with ensuite provides everyday comfort and privacy. Located in the friendly community of Gibsons Country Village, this is an ideal home for buyers looking to simplify life without giving up space, privacy, or a yard. Start your Coast Lifestyl
From listing remarks (RE/MAX City Realty)
Rating 5 /100
| Equity | 0/40 | -126,666 vs limit (-17.2% of ARV) | |
| Cash flow | 0/30 | -1,101/mo | |
| Suite-arb | 4.9/15 | zone permits a suite; other conditions short | |
| Motivation | 0.0/15 | 29d on market, no cuts — anchored seller |
Offer case
Price can't fix this. rent test — needs 2,950/mo vs 2,706 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.
- Only 29 days on market — too fresh for a big discount.
Support score 0.0 — evidence weight that this seller
would entertain the discount. Not a prediction; a checklist with numbers.
The four tests
Equity — FAIL
(price + $40,000 reno + PTT+legal closing) <= 85% x ARV
all-in = $699,000 + $40,000 + $14,480 = $753,480
ARV = $737,428 → limit = 85% × ARV = $626,814
margin = $-126,666 · at band low ($667,885): $-185,778 — GREEN needs this ≥ 0
Rent — FAIL
est. rent >= 0.40% x ARV
est. rent = $2,706/mo (whole house (2bd) $2,706)
floor = 0.4% × ARV $737,428 = $2,950/mo
rents table: Gibsons · as of 2026-08-02
Cash flow — FAIL
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $2,800 (loan $559,200 @ 4.4%/30y)
+ tax $307 (mls) + ins $158 + maint $135 + vac $162 + PM $244
carrying = $3,807/mo · rent $2,706 → cash flow = $-1,101/mo (floor $-800)
Suite-arb — FAIL
zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median
zone RL-1 suite:yes · sqft 1,252 (min 1,900)
suite language: no · $/sqft 558 vs median 494
Scored 2026-10-02T05:55 · thresholds from criteria.yaml
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $2,706 typical self-managed |
$2,706 typical PM |
$2,993 high self-managed |
$2,993 high PM |
|---|---|---|---|---|
| $699,000 | −$857 | −$1,101 | −$602 | −$871 |
| $664,050 −5.0% | −$717 | −$961 | −$462 | −$731 |
| $639,585 −8.5% | −$619 | −$863 | −$364 | −$633 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
ARV $737,428
range $667,885 – $912,025
(about half of comparable sales landed inside this band)
median $/sqft of 11 renovated size-matched sales (11 priced from list × measured sale ratio — ~3y registration lag) · confidence medium
($/sqft used: 589)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 776 Geddes Rd | 5.88 km | 1,460 | ~$877,784 | 601 | 2026-02-19 | ✓ |
| 4657 Whitaker Rd | 15.61 km | 1,104 | ~$781,022 | 707 | 2025-10-08 | ✓ |
| 5750 Spindrift St | 19.27 km | 1,176 | ~$556,548 | 473 | 2026-05-10 | ✓ |
| 5808 Anchor Rd | 19.74 km | 1,056 | ~$780,144 | 739 | 2026-02-20 | ✓ |
| 5641 Nickerson Rd | 21.35 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| 6307 Homestead Ave | 21.39 km | 1,403 | ~$776,238 | 553 | 2026-01-24 | ✓ |
| 6270 Homestead Ave | 21.4 km | 1,284 | ~$756,710 | 589 | 2026-01-21 | ✓ |
| 5636 Cascade Cres | 21.48 km | 1,284 | ~$721,364 | 562 | 2026-07-18 | ✓ |
| ~ = 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) | ||||||
Solds from Redfin sold-search + public-records sale prices (belowTheFold)
Price & sale history
Seller basis: $598,000, 2021-01-21 — asking +16.9%
| 2026-09-03 | relist | time-on-market reset — relisted |
| 2026-08-08 | delisted | absent from search results |
| 2026-08-07 | delisted | absent from search results |
| 2026-08-06 | new | 699000 first seen at $699,000 |
| 2026-09-03 | Listed | $699,000 GVR |
| 2021-01-21 | Sold (Public Records) | $598,000 Public Records |
| 2020-10-29 | Listed | $598,000 GVR |
| 2002-03-01 | Sold (Public Records) | $70,000 Public Records |
History: Redfin belowTheFold · fetched 2026-09-27T19:15
· events observed by Coastwatch
Zoning & land
RL-1 — RL-1 - Low-Density Residential Zone suite OK
Gibsons Low-Density Residential. Far stronger than a suite: THREE dwelling units on lots up to 280 m2 and FOUR on anything larger, max four units per building, 325 m2 GFA cap for a standalone dwelling. Rear building height of 6.5 m within 7.5 m of the rear lot line is what makes suites-above-garages and laneway homes work where there is a lane. Minimum lot area 280 m2. [gibsons.ca Bylaw 1342 s.2.2.1]
- Aquifer Protection DPA: Aquifer Protection Sub Area 3 — Aquifer protection DPA: septic siting and well drilling are constrained.
| PID | N/A |
|---|---|
| Parcel | SHAW RD (Gibsons) |
| Wastewater | Town of Gibsons sewer service |
| Water | Gibsons Zone 2 - Gibsons Aquifer system |
| Fire protection | Gibsons/West Howe Sound FPA |
Town of Gibsons Zoning Bylaw (current, via Property Viewer service) · fetched 2026-08-06T19:16 · meanings from zoning_rules.yaml (verify before relying)
Assessment
Not fetched yet — runs with the next enrichment pass.
Open questions
- Aquifer Protection DPA: Aquifer Protection Sub Area 3: Aquifer protection DPA: septic siting and well drilling are constrained.