$649,900 GREY
Description
Rating 32 /100
| Equity | 19.9/40 | +7,696 vs limit (+0.9% of ARV) | |
| Cash flow | 0/30 | -821/mo | |
| Suite-arb | 11.9/15 | zone permits a suite; other conditions short | |
| Motivation | 0.0/15 | 18d on market, no cuts — anchored seller |
Offer case
Price can't fix this. rent test — needs 3,346/mo vs 3,000 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 18 days on market — too fresh for a big discount.
- Already asking below the $495/sqft local sold level — little room to push.
- ARV confidence is LOW (thin or unrenovated comps) — the target price below could be off by 10%+ in either direction.
The four tests
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $3,000 typical self-managed |
$3,000 typical PM |
$3,450 high self-managed |
$3,450 high PM |
|---|---|---|---|---|
| $649,900 | −$551 | −$821 | −$150 | −$461 |
| $617,405 −5.0% | −$421 | −$691 | −$20 | −$331 |
| $594,658 −8.5% | −$330 | −$600 | +$71 | −$240 |
Comps & ARV
ARV $836,581
range $643,710 – $940,158
(about half of comparable sales landed inside this band)
median $/sqft of 12 renovated size-matched sales (12 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence low
($/sqft used: 490)
Cross-check: comps say $919,240, BC Assessment × sale ratio says $643,710 (+43% apart — disagreement this large triples comp error historically)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5833 Heron Pl | 0.79 km | 1,915 | ~$829,842 | 433 | 2025-11-10 | ✓ |
| 6355 Baillie Rd | 1.9 km | 2,288 | ~$1,220,500 | 533 | 2026-01-22 | ✓ |
| 6242 Norwest Bay Rd | 2.11 km | 1,707 | ~$671,275 | 393 | 2025-10-19 | ✓ |
| 5641 Nickerson Rd | 2.21 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| 5726 Emily Way | 2.22 km | 1,360 | ~$729,371 | 536 | 2026-03-16 | ✓ |
| 6307 Homestead Ave | 2.27 km | 1,403 | ~$776,238 | 553 | 2026-01-24 | ✓ |
| 5656 Cook Pl | 2.49 km | 2,330 | ~$876,807 | 376 | 2026-05-19 | ✓ |
| 5592 Curtis Pl | 2.66 km | 1,358 | ~$974,447 | 718 | 2025-11-14 | ✓ |
| ~ = 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: $136,000, 1992-05-25 — asking +377.9%
| 2026-09-14 | new | 649900 first seen at $649,900 |
| 2026-09-14 | Listed | $649,900 GVR |
| 1992-05-25 | Sold (Public Records) | $136,000 Public Records |
| 1985-05-27 | Sold (Public Records) | $70,250 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 | 003-963-039 |
|---|---|
| Parcel | 5749 SURF CIR (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $645,000 |
|---|---|
| Land / improvements | $475,000 / $170,000 (74% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 0.99 |
| BCA folio | 570.00097.352 |
Open questions
- Built 1983 — oil-tank era. Ask for a tank scan or decommissioning certificate.