$645,000 GREY
Description
Rating 7 /100
| Equity | 0/40 | -93,315 vs limit (-13.1% of ARV) | |
| Cash flow | 0/30 | -1,188/mo | |
| Suite-arb | 5.0/15 | zone permits a suite; other conditions short | |
| Motivation | 1.6/15 | 78d on market, no cuts — anchored seller |
Offer case
Price can't fix this. rent test — needs 2,847/mo vs 2,460 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.
- 78 days on market vs a 60-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
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 |
|---|---|---|---|---|
| $645,000 | −$967 | −$1,188 | −$638 | −$893 |
| $612,750 −5.0% | −$838 | −$1,059 | −$509 | −$764 |
| $590,175 −8.5% | −$747 | −$969 | −$419 | −$673 |
Comps & ARV
ARV $711,865
range $635,726 – $880,410
(about half of comparable sales landed inside this band)
median $/sqft of 11 renovated size-matched sales (11 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence medium
($/sqft used: 589)
Cross-check: comps say $744,496, BC Assessment × sale ratio says $635,726 (+17% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5750 Spindrift St | 0.18 km | 1,176 | ~$556,548 | 473 | 2026-05-10 | ✓ |
| 5808 Anchor Rd | 0.55 km | 1,056 | ~$780,144 | 739 | 2026-02-20 | ✓ |
| 5641 Nickerson Rd | 2.04 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| 6270 Homestead Ave | 2.07 km | 1,284 | ~$756,710 | 589 | 2026-01-21 | ✓ |
| 6307 Homestead Ave | 2.1 km | 1,403 | ~$776,238 | 553 | 2026-01-24 | ✓ |
| 5726 Emily Way | 2.11 km | 1,360 | ~$729,371 | 536 | 2026-03-16 | ✓ |
| 5636 Cascade Cres | 2.19 km | 1,284 | ~$721,364 | 562 | 2026-07-18 | ✓ |
| 5592 Curtis Pl | 2.47 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: $775,000, 2022-02-28 — asking -16.8%
| 2026-08-03 | new | 645000 first seen at $645,000 |
| 2026-07-16 | Listed | $645,000 GVR |
| 2022-02-28 | Sold (Public Records) | $775,000 Public Records |
| 2022-01-17 | Listed | $799,000 GVR |
| 2016-05-30 | Sold (Public Records) | $319,900 Public Records |
| 2016-03-08 | Listed | $319,900 GVR |
| 2012-06-30 | Listed | $299,000 GVR |
| 2009-09-04 | Sold (Public Records) | $300,000 Public Records |
| 2008-05-24 | Listed | $309,000 GVR |
| 2005-11-02 | Sold (Public Records) | $200,000 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 | 004-392-698 |
|---|---|
| Parcel | 5605 OCEAN AVE (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $637,000 |
|---|---|
| Land / improvements | $481,000 / $156,000 (76% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 0.99 |
| BCA folio | 570.00096.600 |
Open questions
- Built 1977 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- 73 days on market — ask the listing agent why it hasn't moved.