$799,000 GREY SUITE-ARB
Description
Rating 18 /100
| Equity | 0/40 | -100,022 vs limit (-11.3% of ARV) | |
| Cash flow | 0/30 | -1,050/mo | |
| Suite-arb | 15.0/15 | add-a-suite opportunity, unpriced | |
| Motivation | 3.4/15 | 63d on market, no cuts — anchored seller, asking 120% of assessed |
Offer case
Price can't fix this. rent test — needs 3,555/mo vs 3,400 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.
- 63 days on market vs a 60-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
- Asking only 120% of assessed value — a genuine discount to the roll, not the usual 1-2%.
- 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 | $3,400 typical self-managed |
$3,400 typical PM |
$3,900 high self-managed |
$3,900 high PM |
|---|---|---|---|---|
| $799,000 | −$744 | −$1,050 | −$299 | −$650 |
| $759,050 −5.0% | −$584 | −$890 | −$139 | −$490 |
| $731,085 −8.5% | −$472 | −$778 | −$27 | −$378 |
Comps & ARV
ARV $888,774
range $792,986 – $1,149,796
(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 $859,072, BC Assessment × sale ratio says $958,080 (-10% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5833 Heron Pl | 4.54 km | 1,915 | ~$829,842 | 433 | 2025-11-10 | ✓ |
| 6355 Baillie Rd | 5.47 km | 2,288 | ~$1,220,500 | 533 | 2026-01-22 | ✓ |
| 5641 Nickerson Rd | 5.55 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| 6307 Homestead Ave | 5.59 km | 1,403 | ~$776,238 | 553 | 2026-01-24 | ✓ |
| 5656 Cook Pl | 5.59 km | 2,330 | ~$876,807 | 376 | 2026-05-19 | ✓ |
| 6242 Norwest Bay Rd | 6.0 km | 1,707 | ~$671,275 | 393 | 2025-10-19 | ✓ |
| 4967 Laurel Ave | 8.5 km | 2,039 | ~$820,078 | 402 | 2026-02-23 | ✓ |
| 4598 Whitaker Rd | 9.9 km | 1,707 | ~$712,772 | 418 | 2026-02-03 | ✓ |
| ~ = 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: $310,000, 2004-08-17 — asking +157.7%
| 2026-08-03 | new | 799000 first seen at $799,000 |
| 2026-07-31 | Listed | $799,000 GVR |
| 2004-08-17 | Sold (Public Records) | $310,000 Public Records |
| 2004-06-21 | Listed | $319,900 GVR |
| 1981-06-15 | Sold (Public Records) | $36,000 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]
- Rocky Beach Front, Escarpments and Slope Hazards — 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.
- Slope greater than 20% to 30% — 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.
| PID | 028-751-957 |
|---|---|
| Parcel | 6954 PORPOISE DR (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $960,000 |
|---|---|
| Land / improvements | $679,000 / $281,000 (71% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.2 asking under assessment |
| BCA folio | 570.06738.176 |
Open questions
- Confirm suite legality with the planning department — zone says yes, verify parcel specifics (parking, servicing, floor-area cap).
- Built 1983 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- Rocky Beach Front, Escarpments and Slope Hazards: 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.
- Slope greater than 20% to 30%: 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.
- 58 days on market — ask the listing agent why it hasn't moved.