$660,000 GREY
Description
Rating 10 /100
| Equity | 2.9/40 | -64,381 vs limit (-8.4% of ARV) | |
| Cash flow | 0/30 | -868/mo | |
| Suite-arb | 4.7/15 | zone permits a suite; other conditions short | |
| Motivation | 2.3/15 | 31d on market, no cuts — anchored seller, asking 116% of assessed |
Offer case
Price can't fix this. rent test — needs 3,056/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.
- Asking only 116% 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 |
|---|---|---|---|---|
| $660,000 | −$598 | −$868 | −$197 | −$508 |
| $627,000 −5.0% | −$466 | −$736 | −$65 | −$376 |
| $603,900 −8.5% | −$373 | −$643 | +$28 | −$283 |
Comps & ARV
ARV $763,905 — median $/sqft of 4 renovated sales within 3.0km (4 priced from list x measured sale ratio — registration lag) · confidence medium ($/sqft used: 635)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5592 Curtis Pl | 0.69 km | 1,358 | ~$973,848 | 717 | 2025-11-14 | ✓ |
| 6307 Homestead Ave | 0.73 km | 1,403 | ~$775,761 | 553 | 2026-01-24 | ✓ |
| 5641 Nickerson Rd | 0.75 km | 1,487 | ~$805,035 | 541 | 2026-03-06 | ✓ |
| 5808 Anchor Rd | 2.38 km | 1,056 | ~$779,664 | 738 | 2026-02-20 | ✓ |
| ~ = final list price used as sale proxy (BC title registration lags ~6-12 mo) | ||||||
Price & sale history
Seller basis: $295,000, 2005-12-15 — asking +123.7%
| 2026-08-03 | new | 660000 first seen at $660,000 |
| 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 | 1.16 asking under assessment |
| BCA folio | 570.06340.157 |
Open questions
- 31 days on market — ask the listing agent why it hasn't moved.