$598,000 GREY
Description
Rating 28 /100
| Equity | 8.4/40 | -38,614 vs limit (-5.4% of ARV) | |
| Cash flow | 7.1/30 | -471/mo | |
| Suite-arb | 4.7/15 | zone permits a suite; other conditions short | |
| Motivation | 7.8/15 | 74d on market, 1 cut(s), asking 128% of assessed |
Offer case
GREEN at $514,000 — that's $84,000 (14.1%) below the $598,000 ask. Realistic offer
EVIDENCE
- Coast-wide, homes sell at 97.7% of list — a 2.3% discount is simply normal here.
- 74 days on market vs a 67-day median.
- 1 price cut(s) already — the seller has shown they will move.
- Asking only 128% of assessed value — a genuine discount to the roll, not the usual 1-2%.
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 |
|---|---|---|---|---|
| $598,000 | −$201 | −$471 | +$200 | −$111 |
| $568,100 −5.0% | −$81 | −$351 | +$320 | +$9 |
| $547,170 −8.5% | +$3 | −$267 | +$403 | +$93 |
Comps & ARV
ARV $719,819
range $664,621 – $912,268
(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: 579)
Cross-check: comps say $696,537, BC Assessment × sale ratio says $774,144 (-10% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5592 Curtis Pl | 0.69 km | 1,358 | ~$974,547 | 718 | 2025-11-14 | ✓ |
| 6307 Homestead Ave | 0.73 km | 1,403 | ~$776,318 | 553 | 2026-01-24 | ✓ |
| 5641 Nickerson Rd | 0.75 km | 1,487 | ~$805,612 | 542 | 2026-03-06 | ✓ |
| 6270 Homestead Ave | 0.83 km | 1,284 | ~$756,788 | 589 | 2026-01-21 | ✓ |
| 5726 Emily Way | 1.07 km | 1,360 | ~$729,446 | 536 | 2026-03-16 | ✓ |
| 5808 Anchor Rd | 2.38 km | 1,056 | ~$780,224 | 739 | 2026-02-20 | ✓ |
| 5750 Spindrift St | 2.4 km | 1,176 | ~$556,605 | 473 | 2026-05-10 | ✓ |
| 4657 Whitaker Rd | 5.73 km | 1,104 | ~$781,102 | 708 | 2025-10-08 | ✓ |
| ~ = 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: $295,000, 2005-12-15 — asking +102.7%
| 2026-09-15 | delisted | absent from search results |
| 2026-08-24 | price_cut | 660000 → 598000 -9.4% |
| 2026-08-03 | new | 660000 first seen at $660,000 |
| 2026-08-24 | Price Changed | $598,000 GVR |
| 2026-07-27 | Price Changed | $660,000 GVR |
| 2026-07-03 | Listed | $690,000 GVR |
| 2005-12-15 | Sold (Public Records) | $295,000 Public Records |
| 2005-09-21 | Listed | $309,000 GVR |
| 2003-07-30 | Sold (Public Records) | $180,000 Public Records |
| 2003-06-13 | Listed | $184,900 GVR |
Zoning & land
R-2 — Low Density Residential 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 | 007-260-610 |
|---|---|
| Parcel | 5461 CARNABY PL (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $768,000 |
|---|---|
| Land / improvements | $512,000 / $256,000 (67% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.28 asking under assessment |
| BCA folio | 570.06340.157 |
Open questions
- 73 days on market — ask the listing agent why it hasn't moved.