$705,000 GREY
Description
Rating 36 /100
| Equity | 16.1/40 | -10,136 vs limit (-1.1% of ARV) | |
| Cash flow | 0/30 | -1,434/mo | |
| Suite-arb | 11.7/15 | zone permits a suite; other conditions short | |
| Motivation | 8.2/15 | 70d on market, 1 cut(s), 1 relist(s) |
Offer case
Price can't fix this. rent test — needs 3,527/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.
- 70 days on market vs a 60-day median.
- 1 price cut(s) already — the seller has shown they will move.
- 1 previous failed listing(s) — this seller has been here before.
- Already asking below the $495/sqft local sold level — little room to push.
- ARV confidence is LOW (thin or unrenovated comps) — the target price below could be off by 10%+ in either direction.
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 |
|---|---|---|---|---|
| $705,000 | −$1,212 | −$1,434 | −$884 | −$1,138 |
| $669,750 −5.0% | −$1,071 | −$1,292 | −$743 | −$997 |
| $645,075 −8.5% | −$972 | −$1,194 | −$644 | −$898 |
Comps & ARV
ARV $881,722
range $628,895 – $920,322
(about half of comparable sales landed inside this band)
median $/sqft of 12 renovated size-matched sales (12 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence low
($/sqft used: 533)
Cross-check: comps say $976,456, BC Assessment × sale ratio says $660,676 (+48% apart — disagreement this large triples comp error historically)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5833 Heron Pl | 1.25 km | 1,915 | ~$829,842 | 433 | 2025-11-10 | ✓ |
| 6355 Baillie Rd | 2.42 km | 2,288 | ~$1,220,500 | 533 | 2026-01-22 | ✓ |
| 6242 Norwest Bay Rd | 2.6 km | 1,707 | ~$671,275 | 393 | 2025-10-19 | ✓ |
| 5641 Nickerson Rd | 2.73 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| 5726 Emily Way | 2.74 km | 1,360 | ~$729,371 | 536 | 2026-03-16 | ✓ |
| 6270 Homestead Ave | 2.75 km | 1,284 | ~$756,710 | 589 | 2026-01-21 | ✓ |
| 6307 Homestead Ave | 2.79 km | 1,403 | ~$776,238 | 553 | 2026-01-24 | ✓ |
| 5636 Cascade Cres | 2.89 km | 1,284 | ~$721,364 | 562 | 2026-07-18 | ✓ |
| ~ = 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: $700,000, 2021-08-16 — asking +0.7%
| 2026-09-23 | price_cut | 719000 → 705000 -1.9% |
| 2026-08-03 | new | 719000 first seen at $719,000 |
| 2026-09-23 | Price Changed | $705,000 GVR |
| 2026-07-24 | Listed | $719,000 GVR |
| 2024-10-22 | Listed | $733,900 GVR |
| 2021-08-16 | Sold (Public Records) | $700,000 Public Records |
| 2021-04-23 | Listed | $599,900 GVR |
| 2009-08-06 | Sold (Public Records) | $245,000 Public Records |
| 2006-07-13 | Sold (Public Records) | $246,000 Public Records |
| 2006-04-20 | Listed | $249,000 GVR |
Zoning & land
R-4 — Urban Infill Residential suite OK
Sechelt R-4 Urban Infill, one of the post-Bill-44 SSMUH zones. Secondary Suite is a named accessory use, and density is capped by combination rather than lot size: a single-detached dwelling with a secondary suite PLUS two detached accessory dwelling units, or a triplex plus one detached ADU, or a fourplex, or four townhouses, or a four-unit cottage court. FAR 1.5. A detached ADU is capped at 120 m2; a secondary suite has NO floor area cap (s.2.3.1). Confirm servicing capacity. [Bylaw 580 s.1.4.2-1.4.4, s.2.3]
| PID | 010-591-648 |
|---|---|
| Parcel | 5724 PORPOISE BAY RD (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $662,000 |
|---|---|
| Land / improvements | $523,000 / $139,000 (79% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 0.94 |
| BCA folio | 570.00070.000 |
Open questions
- Built 1948 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- 65 days on market — ask the listing agent why it hasn't moved.