$788,000 GREY SUITE-ARB
Description
Rating 52 /100
| Equity | 29.1/40 | +63,879 vs limit (+6.0% of ARV) | |
| Cash flow | 0/30 | -1,342/mo | |
| Suite-arb | 15.0/15 | add-a-suite opportunity, unpriced | |
| Motivation | 7.8/15 | 91d on market, 1 cut(s) |
Offer case
Price can't fix this. rent test — needs 4,274/mo vs 3,000 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.
- 91 days on market vs a 60-day median.
- 1 price cut(s) already — the seller has shown they will move.
- 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 | $3,000 typical self-managed |
$3,000 typical PM |
$3,450 high self-managed |
$3,450 high PM |
|---|---|---|---|---|
| $788,000 | −$1,072 | −$1,342 | −$672 | −$982 |
| $748,600 −5.0% | −$915 | −$1,185 | −$514 | −$825 |
| $721,020 −8.5% | −$804 | −$1,074 | −$404 | −$714 |
Comps & ARV
ARV $1,068,399
range $825,346 – $1,360,005
(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: 433)
Cross-check: comps say $1,172,564, BC Assessment × sale ratio says $825,346 (+42% apart — disagreement this large triples comp error historically)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 4967 Laurel Ave | 0.08 km | 2,039 | ~$820,078 | 402 | 2026-02-23 | ✓ |
| 5833 Heron Pl | 4.47 km | 1,915 | ~$829,842 | 433 | 2025-11-10 | ✓ |
| 6355 Baillie Rd | 4.91 km | 2,288 | ~$1,220,500 | 533 | 2026-01-22 | ✓ |
| 5656 Cook Pl | 5.46 km | 2,330 | ~$876,807 | 376 | 2026-05-19 | ✓ |
| 6540 Jasper Rd | 5.78 km | 3,494 | ~$1,244,910 | 356 | 2026-05-20 | ✓ |
| 7462 Redrooffs Rd | 9.82 km | 2,851 | ~$828,964 | 291 | 2025-10-23 | ✓ |
| 8362 Redrooffs Rd | 12.97 km | 2,140 | ~$1,049,630 | 490 | 2026-02-09 | ✓ |
| 962 Cemetery Rd | 15.39 km | 1,916 | ~$1,049,630 | 548 | 2025-11-28 | ✓ |
| ~ = 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: $415,000, 2015-12-02 — asking +89.9%
| 2026-08-18 | price_cut | 838000 → 788000 -6.0% |
| 2026-08-03 | new | 838000 first seen at $838,000 |
| 2026-08-17 | Price Changed | $788,000 GVR |
| 2026-07-03 | Listed | $838,000 GVR |
| 2015-12-02 | Sold (Public Records) | $415,000 Public Records |
| 2015-10-01 | Listed | $419,900 GVR |
| 1998-01-13 | Sold (Public Records) | $215,500 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 | 009-468-960 |
|---|---|
| Parcel | 4987 LAUREL AVE (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $827,000 |
|---|---|
| Land / improvements | $568,000 / $259,000 (69% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.05 asking under assessment |
| BCA folio | 570.03388.010 |
Open questions
- Confirm suite legality with the planning department — zone says yes, verify parcel specifics (parking, servicing, floor-area cap).
- 86 days on market — ask the listing agent why it hasn't moved.