$738,800 GREY
Description
Rating 5 /100
| Equity | 0/40 | -163,087 vs limit (-22.0% of ARV) | |
| Cash flow | 0/30 | -1,175/mo | |
| Suite-arb | 5.1/15 | zone permits a suite; other conditions short | |
| Motivation | 0.0/15 | 24d on market, no cuts — anchored seller |
Offer case
GREEN at $530,000 — that's $208,800 (28.3%) below the $738,800 ask. Long shot
EVIDENCE
- Coast-wide, homes sell at 97.7% of list — a 2.3% discount is simply normal here.
- Only 24 days on market — too fresh for a big discount.
- Asking $571/sqft where comparable homes sold at $482/sqft (+18%) — the ask is above the local clearing price.
The four tests
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $3,000 typical self-managed |
$3,000 typical PM |
$3,450 high self-managed |
$3,450 high PM |
|---|---|---|---|---|
| $738,800 | −$905 | −$1,175 | −$504 | −$815 |
| $701,860 −5.0% | −$757 | −$1,027 | −$356 | −$667 |
| $676,002 −8.5% | −$653 | −$923 | −$253 | −$563 |
Comps & ARV
ARV $742,340
range $684,360 – $784,650
(about half of comparable sales landed inside this band)
median $/sqft of 10 renovated size-matched sales (10 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence high
($/sqft used: 579)
Cross-check: comps say $749,226, BC Assessment × sale ratio says $726,273 (+3% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 6307 Homestead Ave | 0.1 km | 1,403 | ~$776,318 | 553 | 2026-01-24 | ✓ |
| 5641 Nickerson Rd | 0.16 km | 1,487 | ~$805,612 | 542 | 2026-03-06 | ✓ |
| 5592 Curtis Pl | 0.3 km | 1,358 | ~$974,547 | 718 | 2025-11-14 | ✓ |
| 5726 Emily Way | 0.38 km | 1,360 | ~$729,446 | 536 | 2026-03-16 | ✓ |
| 5808 Anchor Rd | 2.18 km | 1,056 | ~$780,224 | 739 | 2026-02-20 | ✓ |
| 5750 Spindrift St | 2.38 km | 1,176 | ~$556,605 | 473 | 2026-05-10 | ✓ |
| 5640 Carmel Pl | 8.16 km | 1,466 | ~$848,578 | 579 | 2025-09-26 | ✓ |
| 776 Geddes Rd | 15.82 km | 1,460 | ~$877,874 | 601 | 2026-02-19 | ✓ |
| ~ = 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: $699,900, 2022-10-06 — asking +5.6%
| 2026-08-11 | delisted | absent from search results |
| 2026-08-03 | new | 738800 first seen at $738,800 |
| 2026-07-18 | Listed | $738,800 GVR |
| 2022-10-06 | Sold (Public Records) | $699,900 Public Records |
| 2022-08-02 | Listed | $699,900 GVR |
| 2019-06-12 | Sold (Public Records) | $498,000 Public Records |
| 2019-04-10 | Listed | $499,000 GVR |
| 2002-11-29 | Sold (Public Records) | $161,753 Public Records |
Zoning & land
R-3 — Small Lot Residential suite OK
Areas B/D/E/F: single-unit dwelling with a restricted second storey. Density is capped at one dwelling per parcel, but s.5.24.4 excludes secondary suites from that count, so a suite still works (wastewater carve-out aside). No auxiliary dwelling unit here. Area A: residential with auxiliary commercial — over 2000 m2 gets a duplex second unit OR one auxiliary dwelling unit. Sechelt R-3: SSMUH small-lot zone, suite plus up to 4 units. [Bylaw 722.9 s.7.3.2-7.3.3, s.5.24.4; Bylaw 337 s.621.1; Bylaw 580 s.1.3.2-1.3.4]
| PID | 023-712-392 |
|---|---|
| Parcel | 5636 CASCADE CRES (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $727,000 |
|---|---|
| Land / improvements | $460,000 / $267,000 (63% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 0.98 |
| BCA folio | 570.06415.072 |
Open questions
None generated.