$599,000 GREY
Description
Rating 21 /100
| Equity | 4.6/40 | -52,770 vs limit (-7.5% of ARV) | |
| Cash flow | 9.7/30 | -349/mo | |
| Suite-arb | 4.9/15 | zone permits a suite; other conditions short | |
| Motivation | 1.9/15 | 88d on market, no cuts — anchored seller |
Offer case
GREEN at $491,000 — that's $108,000 (18.0%) below the $599,000 ask. Long shot
EVIDENCE
- Coast-wide, homes sell at 97.6% of list — a 2.4% discount is simply normal here.
- 88 days on market vs a 60-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
- Already asking below the $541/sqft local sold level — little room to push.
The four tests
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $3,100 typical self-managed |
$3,100 typical PM |
$3,450 high self-managed |
$3,450 high PM |
|---|---|---|---|---|
| $599,000 | −$70 | −$349 | +$241 | −$69 |
| $569,050 −5.0% | +$50 | −$229 | +$361 | +$51 |
| $548,085 −8.5% | +$134 | −$145 | +$445 | +$135 |
Comps & ARV
ARV $704,365
range $637,940 – $871,134
(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 $730,360, BC Assessment × sale ratio says $643,710 (+14% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 6472 Jasper Rd | 8.9 km | 1,163 | ~$750,852 | 646 | 2026-07-01 | ✓ |
| 5592 Curtis Pl | 8.92 km | 1,358 | ~$974,447 | 718 | 2025-11-14 | ✓ |
| 5726 Emily Way | 9.07 km | 1,360 | ~$729,371 | 536 | 2026-03-16 | ✓ |
| 5636 Cascade Cres | 9.12 km | 1,284 | ~$721,364 | 562 | 2026-07-18 | ✓ |
| 6270 Homestead Ave | 9.18 km | 1,284 | ~$756,710 | 589 | 2026-01-21 | ✓ |
| 6307 Homestead Ave | 9.2 km | 1,403 | ~$776,238 | 553 | 2026-01-24 | ✓ |
| 5641 Nickerson Rd | 9.24 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| 5808 Anchor Rd | 10.87 km | 1,056 | ~$780,144 | 739 | 2026-02-20 | ✓ |
| ~ = 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: $142,000, 1993-08-25 — asking +321.8%
| 2026-08-03 | new | 599000 first seen at $599,000 |
| 2026-07-06 | Listed | $599,000 GVR |
| 1993-08-25 | Sold (Public Records) | $142,000 Public Records |
| 1991-12-13 | Sold (Public Records) | $27,000 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 | 007-692-978 |
|---|---|
| Parcel | 5754 TROUT LAKE RD (SCRD) |
| Wastewater | none mapped — septic likely (no suite carve-out) |
| Water | Chapman system |
| Fire protection | Halfmoon Bay FPA |
| Bylaw | https://www.scrd.ca/zoning-bylaws/ |
Assessment
| Assessed total | $645,000 |
|---|---|
| Land / improvements | $492,000 / $153,000 (76% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.08 asking under assessment |
| BCA folio | 746.05067.460 |
Open questions
- 81 days on market — ask the listing agent why it hasn't moved.