$799,000 GREY
Description
Rating 4 /100
| Equity | 0/40 | -357,348 vs limit (-61.0% of ARV) | |
| Cash flow | 0/30 | -1,677/mo | |
| Suite-arb | 3.6/15 | zone permits a suite; other conditions short | |
| Motivation | 0.0/15 | 10d on market, no cuts — anchored seller |
Offer case
GREEN at $350,000 — that's $449,000 (56.2%) below the $799,000 ask. Long shot
EVIDENCE
- Coast-wide, homes sell at 97.6% of list — a 2.4% discount is simply normal here.
- Only 10 days on market — too fresh for a big discount.
- Asking 170% of assessed value — priced above the roll.
- Asking $888/sqft where comparable homes sold at $495/sqft (+79%) — 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 |
|---|---|---|---|---|
| $799,000 | −$1,456 | −$1,677 | −$1,128 | −$1,382 |
| $759,050 −5.0% | −$1,296 | −$1,517 | −$967 | −$1,222 |
| $731,085 −8.5% | −$1,184 | −$1,405 | −$855 | −$1,110 |
Comps & ARV
ARV $586,038
range $468,761 – $625,826
(about half of comparable sales landed inside this band)
median $/sqft of 4 renovated size-matched sales (4 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence medium
($/sqft used: 707)
Cross-check: comps say $636,300, BC Assessment × sale ratio says $468,761 (+36% apart — disagreement this large triples comp error historically)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5808 Anchor Rd | 2.56 km | 1,056 | ~$780,144 | 739 | 2026-02-20 | ✓ |
| 4657 Whitaker Rd | 2.64 km | 1,104 | ~$781,022 | 707 | 2025-10-08 | ✓ |
| 6472 Jasper Rd | 4.47 km | 1,163 | ~$750,852 | 646 | 2026-07-01 | ✓ |
| 5625 O'brian Rd | 13.49 km | 856 | ~$868,020 | 1,014 | 2026-03-06 | ✓ |
| ~ = 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: $510,000, 2021-07-30 — asking +56.7%
| 2026-09-22 | new | 799000 first seen at $799,000 |
| 2026-09-22 | Listed | $799,000 GVR |
| 2021-07-30 | Sold (Public Records) | $510,000 Public Records |
| 2021-06-15 | Price Changed | $559,000 GVR |
| 2021-05-18 | Listed | $599,000 GVR |
| 2014-02-27 | Sold (Public Records) | $176,000 Public Records |
| 2013-09-09 | Listed | $199,000 GVR |
| 1986-10-01 | Sold (Public Records) | $38,000 Public Records |
Zoning & land
R-1 — Large Lot, Low Density Residential 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]
| PID | 006-840-531 |
|---|---|
| Parcel | 5277 LITTLE LANE (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $469,700 |
|---|---|
| Land / improvements | $429,000 / $40,700 (91% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 0.59 |
| BCA folio | 570.02861.000 |
Open questions
- Septic/well: age, last pump-out, and any permits on file? Get the well log and water potability test.