$798,000 GREY
Description
Rating 5 /100
| Equity | 0/40 | -197,689 vs limit (-25.6% of ARV) | |
| Cash flow | 0/30 | -1,880/mo | |
| Suite-arb | 5.0/15 | zone permits a suite; other conditions short | |
| Motivation | 0.2/15 | 32d on market, no cuts — anchored seller |
Offer case
Price can't fix this. rent test — needs 3,091/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 97.7% of list — a 2.3% discount is simply normal here.
- Asking $630/sqft where comparable homes sold at $499/sqft (+26%) — the ask is above the local clearing price.
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 |
|---|---|---|---|---|
| $798,000 | −$1,659 | −$1,880 | −$1,330 | −$1,585 |
| $758,100 −5.0% | −$1,499 | −$1,720 | −$1,170 | −$1,425 |
| $730,170 −8.5% | −$1,387 | −$1,608 | −$1,059 | −$1,313 |
Comps & ARV
ARV $772,672
range $713,420 – $979,252
(about half of comparable sales landed inside this band)
median $/sqft of 10 renovated size-matched sales (10 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence medium
($/sqft used: 579)
Cross-check: comps say $733,593, BC Assessment × sale ratio says $863,856 (-15% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5592 Curtis Pl | 0.61 km | 1,358 | ~$974,547 | 718 | 2025-11-14 | ✓ |
| 6307 Homestead Ave | 0.96 km | 1,403 | ~$776,318 | 553 | 2026-01-24 | ✓ |
| 5641 Nickerson Rd | 1.02 km | 1,487 | ~$805,612 | 542 | 2026-03-06 | ✓ |
| 6270 Homestead Ave | 1.05 km | 1,284 | ~$756,788 | 589 | 2026-01-21 | ✓ |
| 5726 Emily Way | 1.23 km | 1,360 | ~$729,446 | 536 | 2026-03-16 | ✓ |
| 5808 Anchor Rd | 2.96 km | 1,056 | ~$780,224 | 739 | 2026-02-20 | ✓ |
| 5750 Spindrift St | 3.05 km | 1,176 | ~$556,605 | 473 | 2026-05-10 | ✓ |
| 4657 Whitaker Rd | 6.38 km | 1,104 | ~$781,102 | 708 | 2025-10-08 | ✓ |
| ~ = 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: $342,000, 2010-07-30 — asking +133.3%
| 2026-09-18 | delisted | absent from search results |
| 2026-08-18 | new | 798000 first seen at $798,000 |
| 2026-08-17 | Listed | $798,000 GVR |
| 2010-07-30 | Sold (Public Records) | $342,000 Public Records |
| 2010-05-26 | Listed | $349,900 GVR |
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 | 008-836-094 |
|---|---|
| Parcel | 6504 MEIER RD (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $857,000 |
|---|---|
| Land / improvements | $659,000 / $198,000 (77% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.07 asking under assessment |
| BCA folio | 570.02101.007 |
Open questions
- Built 1969 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- 31 days on market — ask the listing agent why it hasn't moved.