$748,500 GREY SUITE-ARB
Description
Rating 36 /100
| Equity | 19.8/40 | +8,673 vs limit (+0.9% of ARV) | |
| Cash flow | 0/30 | -945/mo | |
| Suite-arb | 15.0/15 | add-a-suite opportunity, unpriced | |
| Motivation | 1.0/15 | 67d on market, no cuts — anchored seller |
Offer case
Price can't fix this. rent test — needs 3,824/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.
- Already asking below the $498/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 | $3,400 typical self-managed |
$3,400 typical PM |
$3,900 high self-managed |
$3,900 high PM |
|---|---|---|---|---|
| $748,500 | −$639 | −$945 | −$194 | −$545 |
| $711,075 −5.0% | −$489 | −$795 | −$44 | −$395 |
| $684,878 −8.5% | −$384 | −$690 | +$61 | −$290 |
Comps & ARV
ARV $956,051
range $663,078 – $997,904
(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: 533)
Cross-check: comps say $1,044,680, BC Assessment × sale ratio says $749,250 (+39% apart — disagreement this large triples comp error historically)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5656 Cook Pl | 0.52 km | 2,330 | ~$876,628 | 376 | 2026-05-19 | ✓ |
| 6307 Homestead Ave | 0.67 km | 1,403 | ~$776,079 | 553 | 2026-01-24 | ✓ |
| 5641 Nickerson Rd | 0.73 km | 1,487 | ~$805,365 | 542 | 2026-03-06 | ✓ |
| 6242 Norwest Bay Rd | 0.96 km | 1,707 | ~$671,138 | 393 | 2025-10-19 | ✓ |
| 6355 Baillie Rd | 1.03 km | 2,288 | ~$1,220,250 | 533 | 2026-01-22 | ✓ |
| 7955 Connor Rd | 5.6 km | 1,746 | ~$828,794 | 475 | 2025-09-16 | ✓ |
| 4967 Laurel Ave | 5.68 km | 2,039 | ~$819,910 | 402 | 2026-02-23 | ✓ |
| 5640 Carmel Pl | 8.61 km | 1,466 | ~$848,318 | 579 | 2025-09-26 | ✓ |
| ~ = 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
| 2026-08-18 | delisted | absent from search results |
| 2026-08-03 | new | 748500 first seen at $748,500 |
| 2026-07-17 | Price Changed | $748,500 GVR |
| 2026-07-06 | Price Changed | $785,000 GVR |
| 2026-06-12 | Listed | $799,900 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 | 007-388-705 |
|---|---|
| Parcel | 6473 NORVAN RD (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $750,000 |
|---|---|
| Land / improvements | $557,000 / $193,000 (74% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.0 asking under assessment |
| BCA folio | 570.06403.659 |
Open questions
- Confirm suite legality with the planning department — zone says yes, verify parcel specifics (parking, servicing, floor-area cap).
- Built 1979 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- 61 days on market — ask the listing agent why it hasn't moved.