$695,000 GREY
Description
Rating 6 /100
| Equity | 0/40 | -220,798 vs limit (-35.5% of ARV) | |
| Cash flow | 0/30 | -1,362/mo | |
| Suite-arb | 4.0/15 | zone permits a suite; other conditions short | |
| Motivation | 2.5/15 | 105d on market, no cuts — anchored seller |
Offer case
Price can't fix this. rent test — needs 2,488/mo vs 2,460 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.
- 105 days on market vs a 60-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
- Asking $689/sqft where comparable homes sold at $495/sqft (+39%) — the ask is above the local clearing price.
The four tests
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $2,460 typical self-managed |
$2,460 typical PM |
$2,829 high self-managed |
$2,829 high PM |
|---|---|---|---|---|
| $695,000 | −$1,141 | −$1,362 | −$812 | −$1,067 |
| $660,250 −5.0% | −$1,001 | −$1,223 | −$673 | −$928 |
| $635,925 −8.5% | −$904 | −$1,125 | −$576 | −$830 |
Comps & ARV
ARV $621,885
range $583,875 – $788,003
(about half of comparable sales landed inside this band)
median $/sqft of 7 renovated size-matched sales (7 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence medium
($/sqft used: 589)
Cross-check: comps say $593,712, BC Assessment × sale ratio says $687,622 (-14% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5808 Anchor Rd | 4.58 km | 1,056 | ~$780,144 | 739 | 2026-02-20 | ✓ |
| 6270 Homestead Ave | 5.0 km | 1,284 | ~$756,710 | 589 | 2026-01-21 | ✓ |
| 5636 Cascade Cres | 5.14 km | 1,284 | ~$721,364 | 562 | 2026-07-18 | ✓ |
| 5750 Spindrift St | 5.18 km | 1,176 | ~$556,548 | 473 | 2026-05-10 | ✓ |
| 6472 Jasper Rd | 5.71 km | 1,163 | ~$750,852 | 646 | 2026-07-01 | ✓ |
| 4657 Whitaker Rd | 9.52 km | 1,104 | ~$781,022 | 707 | 2025-10-08 | ✓ |
| 5625 O'brian Rd | 9.85 km | 856 | ~$868,020 | 1,014 | 2026-03-06 | ✓ |
| ~ = 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 | 695000 first seen at $695,000 |
| 2026-06-19 | Listed | $695,000 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]
- 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 | 009-300-643 |
|---|---|
| Parcel | 6190 CORACLE DR (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $689,000 |
|---|---|
| Land / improvements | $582,000 / $107,000 (84% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 0.99 |
| BCA folio | 570.06479.380 |
Open questions
- Built 1966 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- 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.
- 100 days on market — ask the listing agent why it hasn't moved.