$499,000 GREY
LOT 18 Cotton Pt, West Howe Sound
2 bd · 1.0 ba · 644 sqft
· 77,101 sqft lot
· built 2009
· 110 DOM · MLS R3111716
Ocean viewWaterfrontMotivated sellerSeptic / well
Listing: Redfin search · fetched 2026-08-03T07:15
Description
Escape to your ultimate off-grid WATERFRONT LOW BANK cabin on Keats Island. This turn-key, 2-bed cabin sits on 1.77 acres of lush forest with breathtaking ocean views toward Gambier Island. Crafted with wood milled directly from the land, the interior radiates character and warmth. Perfect for boaters, the property features a mooring buoy and easy beach access with prime potential for a private dock. Fully equipped for summer fun, it boasts propane appliances, a robust rainwater cistern system, a certified septic, and a generator. Navigating your estate is a breeze with the included John Deere 6x4 Gator. Built with permits and ready for quick possession, this rare Howe Sound gem is the summ
From listing remarks (Royal LePage Elite West)
Rating 13 /100 · incomplete data — ceiling 21
| Equity | 0/40 | no ARV — unscored | |
| Cash flow | 10.2/30 | -322/mo | |
| Suite-arb | 0.0/15 | no suite path | |
| Motivation | 2.7/15 | 110d on market, no cuts — anchored seller |
Offer case
Price can't fix this. no ARV or rent estimate — cannot solve
EVIDENCE
- Coast-wide, homes sell at 97.5% of list — a 2.5% discount is simply normal here.
- 110 days on market vs a 59-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
Support score 0.08 — evidence weight that this seller
would entertain the discount. Not a prediction; a checklist with numbers.
The four tests
Equity — UNKNOWN
(price + $40,000 reno + PTT+legal closing) <= 85% x ARV
all-in = $499,000 + $40,000 + $10,480 = $549,480
ARV = — → limit = 85% × ARV = —
margin = —
Rent — UNKNOWN
est. rent >= 0.40% x ARV
est. rent = $2,542/mo (whole house (2bd) $2,542)
floor = 0.4% × ARV — = —/mo
rents table: West Howe Sound · as of 2026-08-02
Cash flow — PASS
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $1,999 (loan $399,200 @ 4.4%/30y)
+ tax $198 (mls) + ins $158 + maint $127 + vac $153 + PM $229
carrying = $2,864/mo · rent $2,542 → cash flow = $-322/mo (floor $-800)
Suite-arb — FAIL
zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median
zone ? suite:no · sqft 644 (min 1,900)
suite language: no · $/sqft 775 vs median 713
Scored 2026-08-03T09:00 · thresholds from criteria.yaml
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $2,542 typical self-managed |
$2,542 typical PM |
$2,829 high self-managed |
$2,829 high PM |
|---|---|---|---|---|
| $499,000 | −$93 | −$322 | +$162 | −$92 |
| $474,050 −5.0% | +$7 | −$222 | +$262 | +$8 |
| $456,585 −8.5% | +$77 | −$152 | +$332 | +$78 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
No ARV yet — 0 comps within 3.0km but only 0 within ±30% of 644 sqft — no ARV rather than a bad one. (0 solds nearby; comps backfill runs nightly.)
Solds from Redfin sold-search + public-records sale prices (belowTheFold)
Price & sale history
| 2026-08-03 | new | 499000 first seen at $499,000 |
| 2026-04-15 | Listed | $499,000 GVR |
History: Redfin belowTheFold · fetched 2026-08-03T07:16
· events observed by Coastwatch
Zoning & land
Unknown zone no suite / unknown
Zone not recognised. Check the bylaw before assuming anything.
| Wastewater | none mapped — septic likely (no suite carve-out) |
|---|---|
| Water | well / private — get well log + potability |
| Fire protection | none — insurance loads heavily |
— · fetched 2026-08-03T05:43 · meanings from zoning_rules.yaml (verify before relying)
Assessment
Not fetched yet — runs with the next enrichment pass.
Open questions
- Septic/well: age, last pump-out, and any permits on file? Get the well log and water potability test.
- No community water system mapped — well supply. Get the well log, flow rate (GPM) and a potability test before subjects come off.
- Outside every fire protection area — insurance will be heavily loaded or declined. Get a quote BEFORE offering.
- Zone None isn't in my rules file — read the bylaw and add it to zoning_rules.yaml.
- 110 days on market — ask the listing agent why it hasn't moved.