$450,000 GREY
Description
Rating 47 /100
| Equity | 40.0/40 | +171,650 vs limit (+21.7% of ARV) | |
| Cash flow | 0/30 | -954/mo | |
| Suite-arb | 2.1/15 | zone permits a suite; other conditions short | |
| Motivation | 5.2/15 | 142d on market, no cuts — anchored seller, asking 124% of assessed |
Offer case
Price can't fix this. rent test — needs 3,158/mo vs 1,700 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.
- 142 days on market vs a 60-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
- Asking only 124% of assessed value — a genuine discount to the roll, not the usual 1-2%.
- Asking $832/sqft where comparable homes sold at $495/sqft (+68%) — the ask is above the local clearing price.
- 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 | $1,700 typical self-managed |
$1,700 typical PM |
$2,000 high self-managed |
$2,000 high PM |
|---|---|---|---|---|
| $450,000 | −$801 | −$954 | −$534 | −$714 |
| $427,500 −5.0% | −$710 | −$863 | −$443 | −$623 |
| $411,750 −8.5% | −$647 | −$800 | −$380 | −$560 |
Comps & ARV
ARV $789,588
range $295,367 – $949,856
(about half of comparable sales landed inside this band)
median $/sqft of 3 nearest size-matched sales × 101% paired reno premium (3 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence low
($/sqft used: 1,626)
Cross-check: comps say $888,463, BC Assessment × sale ratio says $558,880 (+59% apart — disagreement this large triples comp error historically)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 394 Pratt Rd | 22.25 km | 600 | ~$975,424 | 1,626 | 2026-04-02 | |
| 115 Williamsons Landing Rd | 22.44 km | 672 | ~$1,160,940 | 1,728 | 2026-04-27 | |
| 619 Marine Dr | 23.17 km | 670 | ~$682,504 | 1,019 | 2025-12-18 | |
| ~ = 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
| 2026-08-03 | new | 450000 first seen at $450,000 |
| 2026-05-13 | Listed | $450,000 GVR |
Zoning & land
R-1 — Large Lot, Low Density Residential suite OK
Single-unit dwelling zone in all three bylaws, but the suite path differs. Areas B/D/E/F: suite permitted on any parcel EXCEPT inside an SCRD wastewater service area — check that first, it is the one thing that kills it outright. Also an auxiliary dwelling unit over 2000 m2 and a second single-unit dwelling over 3500 m2. Area A: no general suite right at all; an auxiliary dwelling unit needs over 2000 m2, a second dwelling needs 4000 m2. Sechelt R-1: secondary suite is a listed accessory use, plus a detached accessory dwelling unit at 2000 m2 and up (unsewered large-lot zone). [Bylaw 722.9 s.5.1.1(h), s.5.24.1, s.7.1.2; Bylaw 337 s.601.1; Bylaw 580 s.1.1.2-1.1.3]
- Rocky Beach Front, Escarpments and Slope Hazards — Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.
- Slope greater than 30% — Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.
| PID | 009-008-721 |
|---|---|
| Parcel | 6761 SANDY HOOK TRAIL (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $560,000 |
|---|---|
| Land / improvements | $550,000 / $10,000 (98% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.24 asking under assessment |
| BCA folio | 570.06479.684 |
Open questions
- Built 1977 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- Septic/well: age, last pump-out, and any permits on file? Get the well log and water potability test.
- Rocky Beach Front, Escarpments and Slope Hazards: Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.
- Slope greater than 30%: Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.
- 137 days on market — ask the listing agent why it hasn't moved.