$729,900 GREY
Description
Rating 10 /100
| Equity | 0/40 | -103,956 vs limit (-13.0% of ARV) | |
| Cash flow | 0/30 | -1,596/mo | |
| Suite-arb | 5.9/15 | zone permits a suite; other conditions short | |
| Motivation | 4.6/15 | 56d on market, 1 relist(s) |
Offer case
Price can't fix this. rent test — needs 3,205/mo vs 2,460 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 previous failed listing(s) — this seller has been here before.
The four tests
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $2,460 typical self-managed |
$2,460 typical PM |
$2,829 high self-managed |
$2,829 high PM |
|---|---|---|---|---|
| $729,900 | −$1,374 | −$1,596 | −$1,046 | −$1,300 |
| $693,405 −5.0% | −$1,228 | −$1,449 | −$900 | −$1,154 |
| $667,858 −8.5% | −$1,126 | −$1,347 | −$797 | −$1,052 |
Comps & ARV
ARV $801,226
range $665,998 – $958,429
(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: 553)
Cross-check: comps say $819,546, BC Assessment × sale ratio says $758,480 (+8% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5833 Heron Pl | 0.18 km | 1,915 | ~$829,842 | 433 | 2025-11-10 | ✓ |
| 5808 Anchor Rd | 0.37 km | 1,056 | ~$780,144 | 739 | 2026-02-20 | ✓ |
| 5750 Spindrift St | 0.98 km | 1,176 | ~$556,548 | 473 | 2026-05-10 | ✓ |
| 5726 Emily Way | 1.79 km | 1,360 | ~$729,371 | 536 | 2026-03-16 | ✓ |
| 6270 Homestead Ave | 1.85 km | 1,284 | ~$756,710 | 589 | 2026-01-21 | ✓ |
| 5641 Nickerson Rd | 1.86 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| 6307 Homestead Ave | 1.92 km | 1,403 | ~$776,238 | 553 | 2026-01-24 | ✓ |
| 6242 Norwest Bay Rd | 1.92 km | 1,707 | ~$671,275 | 393 | 2025-10-19 | ✓ |
| ~ = 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: $171,163, 1997-01-15 — asking +326.4%
| 2026-08-08 | new | 729900 first seen at $729,900 |
| 2026-08-07 | Listed | $729,900 GVR |
| 2017-07-31 | Listed | $599,900 GVR |
| 1997-01-15 | Sold (Public Records) | $171,163 Public Records |
Zoning & land
R-2 — Low Density Residential suite OK
Areas B/D/E/F: single-unit dwelling zone, so a suite is permitted (watch the wastewater service area carve-out), plus an auxiliary dwelling unit over 2000 m2 and an additional single-unit or two-unit dwelling over 3500 m2. Area A: over 2000 m2 gets a duplex second unit OR one auxiliary dwelling unit, over 4000 m2 a second single-unit dwelling; max 2 units. Sechelt R-2: secondary suite plus SSMUH — up to 4 units where BOTH community water and sanitary sewer are present, otherwise 900 m2 for a detached accessory dwelling unit. [Bylaw 722.9 s.7.2.2, s.5.24; Bylaw 337 s.611.1-611.2; Bylaw 580 s.1.2.2-1.2.5]
| PID | 019-091-745 |
|---|---|
| Parcel | 5875 TURNSTONE CRES (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $760,000 |
|---|---|
| Land / improvements | $471,000 / $289,000 (62% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.04 asking under assessment |
| BCA folio | 570.00323.166 |
Open questions
- 51 days on market — ask the listing agent why it hasn't moved.