$775,000 GREY
Description
Rating 11 /100
| Equity | 0/40 | -169,491 vs limit (-21.8% of ARV) | |
| Cash flow | 0/30 | -1,098/mo | |
| Suite-arb | 10.7/15 | zone permits a suite; other conditions short | |
| Motivation | 0.0/15 | 19d on market, no cuts — anchored seller |
Offer case
GREEN at $492,000 — that's $283,000 (36.5%) below the $775,000 ask. Long shot
EVIDENCE
- Coast-wide, homes sell at 97.7% of list — a 2.3% discount is simply normal here.
- Only 19 days on market — too fresh for a big discount.
- Already asking below the $548/sqft local sold level — little room to push.
The four tests
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $3,150 typical self-managed |
$3,150 typical PM |
$3,500 high self-managed |
$3,500 high PM |
|---|---|---|---|---|
| $775,000 | −$814 | −$1,098 | −$503 | −$818 |
| $736,250 −5.0% | −$659 | −$942 | −$347 | −$662 |
| $709,125 −8.5% | −$550 | −$834 | −$239 | −$554 |
Comps & ARV
ARV $778,246
range $638,063 – $926,327
(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: 473)
Cross-check: comps say $748,286, BC Assessment × sale ratio says $848,151 (-12% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 617 Gower Point Rd | 2.03 km | 2,003 | ~$799,754 | 399 | 2026-01-16 | ✓ |
| 962 Cemetery Rd | 2.09 km | 1,916 | ~$1,049,738 | 548 | 2025-11-28 | ✓ |
| 535 Gower Point Rd | 2.11 km | 1,285 | ~$1,355,382 | 1,055 | 2025-09-17 | ✓ |
| 681 Fairmont Rd | 2.39 km | 1,448 | ~$876,897 | 606 | 2025-09-03 | ✓ |
| 264 Arbutus Reach | 2.64 km | 2,027 | ~$2,631,668 | 1,298 | 2025-09-18 | ✓ |
| 776 Geddes Rd | 4.52 km | 1,460 | ~$877,874 | 601 | 2026-02-19 | ✓ |
| 1453 Davidson Rd | 5.53 km | 2,016 | ~$844,672 | 419 | 2026-01-02 | ✓ |
| 304 Esplanade Rd | 7.12 km | 1,733 | ~$937,342 | 541 | 2026-06-15 | ✓ |
| ~ = 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: $155,000, 2000-01-28 — asking +400.0%
| 2026-08-11 | delisted | absent from search results |
| 2026-08-03 | new | 775000 first seen at $775,000 |
| 2026-07-23 | Listed | $775,000 GVR |
| 2000-01-28 | Sold (Public Records) | $155,000 Public Records |
Zoning & land
R2 — Residential Two 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 | 007-360-568 |
|---|---|
| Parcel | 517 VETERANS RD (SCRD) |
| Wastewater | none mapped — septic likely (no suite carve-out) |
| Water | Chapman system |
| Fire protection | Gibsons/West Howe Sound FPA |
| Bylaw | https://www.scrd.ca/zoning-bylaws/ |
Assessment
| Assessed total | $849,000 |
|---|---|
| Land / improvements | $487,000 / $362,000 (57% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.1 asking under assessment |
| BCA folio | 746.01197.072 |
Open questions
- Septic/well: age, last pump-out, and any permits on file? Get the well log and water potability test.