$724,800 GREY SUITE-ARB
Description
Rating 15 /100
| Equity | 0/40 | -105,225 vs limit (-13.3% of ARV) | |
| Cash flow | 0/30 | -1,152/mo | |
| Suite-arb | 15.0/15 | add-a-suite opportunity, unpriced | |
| Motivation | 0.0/15 | 13d on market, no cuts — anchored seller |
Offer case
Price can't fix this. rent test — needs 3,174/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 13 days on market — too fresh for a big discount.
- Already asking below the $495/sqft local sold level — little room to push.
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 |
|---|---|---|---|---|
| $724,800 | −$882 | −$1,152 | −$482 | −$792 |
| $688,560 −5.0% | −$737 | −$1,007 | −$337 | −$647 |
| $663,192 −8.5% | −$636 | −$906 | −$235 | −$546 |
Comps & ARV
ARV $793,613
range $708,082 – $1,013,857
(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: 433)
Cross-check: comps say $829,628, BC Assessment × sale ratio says $709,578 (+17% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5592 Curtis Pl | 0.13 km | 1,358 | ~$974,447 | 718 | 2025-11-14 | ✓ |
| 5656 Cook Pl | 0.29 km | 2,330 | ~$876,807 | 376 | 2026-05-19 | ✓ |
| 6307 Homestead Ave | 0.36 km | 1,403 | ~$776,238 | 553 | 2026-01-24 | ✓ |
| 5641 Nickerson Rd | 0.42 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| 5726 Emily Way | 0.65 km | 1,360 | ~$729,371 | 536 | 2026-03-16 | ✓ |
| 6242 Norwest Bay Rd | 0.68 km | 1,707 | ~$671,275 | 393 | 2025-10-19 | ✓ |
| 6355 Baillie Rd | 0.71 km | 2,288 | ~$1,220,500 | 533 | 2026-01-22 | ✓ |
| 5833 Heron Pl | 2.15 km | 1,915 | ~$829,842 | 433 | 2025-11-10 | ✓ |
| ~ = 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: $321,000, 2008-03-13 — asking +125.8%
| 2026-09-19 | new | 724800 first seen at $724,800 |
| 2026-09-19 | Listed | $724,800 GVR |
| 2008-03-13 | Sold (Public Records) | $321,000 Public Records |
| 2007-09-05 | Listed | $327,500 GVR |
| 2007-03-16 | Sold (Public Records) | $220,000 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 | 026-997-291 |
|---|---|
| Parcel | 5582 EMERSON RD (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $711,000 |
|---|---|
| Land / improvements | $521,000 / $190,000 (73% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 0.98 |
| BCA folio | 570.03225.110 |
Open questions
- Confirm suite legality with the planning department — zone says yes, verify parcel specifics (parking, servicing, floor-area cap).
- Tenancy: fixed-term or month-to-month? Current rent? BC notice rules will govern possession.