$799,000 GREY SUITE-ARB
Description
Rating 52 /100
| Equity | 26.3/40 | +47,423 vs limit (+4.5% of ARV) | |
| Cash flow | 0/30 | -1,175/mo | |
| Suite-arb | 15.0/15 | add-a-suite opportunity, unpriced | |
| Motivation | 10.5/15 | 79d on market, 2 cut(s), asking 121% of assessed |
Offer case
Price can't fix this. rent test — needs 4,249/mo vs 3,400 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.
- 79 days on market vs a 60-day median.
- 2 price cut(s) already — the seller has shown they will move.
- Asking only 121% of assessed value — a genuine discount to the roll, not the usual 1-2%.
- Already asking below the $495/sqft local sold level — little room to push.
The four tests
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $3,400 typical self-managed |
$3,400 typical PM |
$3,900 high self-managed |
$3,900 high PM |
|---|---|---|---|---|
| $799,000 | −$869 | −$1,175 | −$424 | −$775 |
| $759,050 −5.0% | −$709 | −$1,015 | −$264 | −$615 |
| $731,085 −8.5% | −$597 | −$903 | −$152 | −$503 |
Comps & ARV
ARV $1,062,239
range $964,068 – $1,452,874
(about half of comparable sales landed inside this band)
median $/sqft of 12 renovated size-matched sales (12 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence medium
($/sqft used: 376)
Cross-check: comps say $1,104,312, BC Assessment × sale ratio says $964,068 (+14% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 6355 Baillie Rd | 5.39 km | 2,288 | ~$1,220,500 | 533 | 2026-01-22 | ✓ |
| 5656 Cook Pl | 5.92 km | 2,330 | ~$876,807 | 376 | 2026-05-19 | ✓ |
| 6540 Jasper Rd | 6.21 km | 3,494 | ~$1,244,910 | 356 | 2026-05-20 | ✓ |
| 7462 Redrooffs Rd | 10.22 km | 2,851 | ~$828,964 | 291 | 2025-10-23 | ✓ |
| 8362 Redrooffs Rd | 13.35 km | 2,140 | ~$1,049,630 | 490 | 2026-02-09 | ✓ |
| 143 Pratt Rd | 15.68 km | 2,223 | ~$795,766 | 358 | 2025-11-05 | ✓ |
| 522 Eaglecrest Dr | 16.07 km | 2,375 | ~$1,171,679 | 493 | 2026-01-09 | ✓ |
| 107 Mahan Rd | 16.13 km | 2,423 | ~$1,932,296 | 797 | 2026-02-17 | ✓ |
| ~ = 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: $452,500, 2012-06-14 — asking +76.6%
| 2026-09-24 | price_cut | 899000 → 799000 -11.1% |
| 2026-08-06 | price_cut | 950000 → 899000 -5.4% |
| 2026-08-03 | new | 950000 first seen at $950,000 |
| 2026-09-23 | Price Changed | $799,000 GVR |
| 2026-08-05 | Price Changed | $899,000 GVR |
| 2026-07-15 | Listed | $950,000 GVR |
| 2012-06-14 | Sold (Public Records) | $452,500 Public Records |
| 2011-04-27 | Listed | $474,900 GVR |
| 2002-01-31 | Sold (Public Records) | $191,900 Public Records |
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]
| PID | 007-092-890 |
|---|---|
| Parcel | 4871 BLUEBERRY PL (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $966,000 |
|---|---|
| Land / improvements | $609,000 / $357,000 (63% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.21 asking under assessment |
| BCA folio | 570.03268.166 |
Open questions
- Confirm suite legality with the planning department — zone says yes, verify parcel specifics (parking, servicing, floor-area cap).
- Listing itself advertises suite potential — ask what's already roughed in (plumbing, separate entrance, ceiling height).
- 74 days on market — ask the listing agent why it hasn't moved.