$799,000 GREY SUITE-ARB
Description
Rating 17 /100
| Equity | 1.4/40 | -83,869 vs limit (-9.2% of ARV) | |
| Cash flow | 0/30 | -1,262/mo | |
| Suite-arb | 15.0/15 | add-a-suite opportunity, unpriced | |
| Motivation | 0.7/15 | 52d on market, no cuts — anchored seller |
Offer case
Price can't fix this. rent test — needs 3,631/mo vs 3,100 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.
- Already asking below the $552/sqft local sold level — little room to push.
The four tests
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $3,100 typical self-managed |
$3,100 typical PM |
$3,450 high self-managed |
$3,450 high PM |
|---|---|---|---|---|
| $799,000 | −$983 | −$1,262 | −$672 | −$982 |
| $759,050 −5.0% | −$823 | −$1,102 | −$512 | −$822 |
| $731,085 −8.5% | −$711 | −$990 | −$400 | −$710 |
Comps & ARV
ARV $907,778
range $856,569 – $1,220,153
(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: 419)
Cross-check: comps say $905,040, BC Assessment × sale ratio says $914,168 (-1% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 1453 Davidson Rd | 0.95 km | 2,016 | ~$844,586 | 419 | 2026-01-02 | ✓ |
| 650A Dulcie Rd | 3.17 km | 2,308 | ~$649,306 | 281 | 2026-03-05 | ✓ |
| 962 Cemetery Rd | 4.49 km | 1,916 | ~$1,049,630 | 548 | 2025-11-28 | ✓ |
| 565 Wildwood Cres | 5.04 km | 2,221 | ~$1,170,704 | 527 | 2026-01-08 | ✓ |
| 561 Spyglass Pl | 5.14 km | 1,962 | ~$1,170,704 | 597 | 2025-11-13 | ✓ |
| 522 Eaglecrest Dr | 5.37 km | 2,375 | ~$1,171,679 | 493 | 2026-01-09 | ✓ |
| 617 Gower Point Rd | 5.97 km | 2,003 | ~$799,672 | 399 | 2026-01-16 | ✓ |
| 304 Esplanade Rd | 6.02 km | 1,733 | ~$937,246 | 541 | 2026-06-15 | ✓ |
| ~ = 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: $30,000, 1991-07-30 — asking +2563.3%
| 2026-08-11 | new | 799000 first seen at $799,000 |
| 2026-08-11 | Listed | $799,000 GVR |
| 1991-07-30 | Sold (Public Records) | $30,000 Public Records |
| 1980-09-15 | Sold (Public Records) | $15,500 Public Records |
Zoning & land
R1 — Residential One 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]
- DPA #1B - Coastal Slopes — Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.
- DPA #5 - Aquifer Protection and Stormwater Management — Aquifer protection DPA: septic siting and well drilling are constrained.
| PID | 007-756-461 |
|---|---|
| Parcel | 1635 GRADY RD (SCRD) |
| Wastewater | none mapped — septic likely (no suite carve-out) |
| Water | Langdale system |
| Fire protection | Gibsons/West Howe Sound FPA |
| Bylaw | https://www.scrd.ca/zoning-bylaws/ |
Assessment
| Assessed total | $916,000 |
|---|---|
| Land / improvements | $528,000 / $388,000 (58% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.15 asking under assessment |
| BCA folio | 746.03653.063 |
Open questions
- Confirm suite legality with the planning department — zone says yes, verify parcel specifics (parking, servicing, floor-area cap).
- DPA #1B - Coastal Slopes: Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.
- DPA #5 - Aquifer Protection and Stormwater Management: Aquifer protection DPA: septic siting and well drilling are constrained.
- 47 days on market — ask the listing agent why it hasn't moved.