$775,000 GREY
915 Marine Dr, West Howe Sound
3 bd · 1.0 ba · 952 sqft
· 11,936 sqft lot
· built 1945
· 62 DOM · MLS R3131214
Ocean view
Oil-tank era
Listing: Redfin search · fetched 2026-08-03T07:15
Description
Charming 3-bedroom view cottage in one of Gibsons' most desirable locations, directly across from Soames Beach access—one of the area's best swimming beaches. Bright and inviting, the home offers a functional layout with numerous recent updates, including a beautifully renovated brand-new bathroom. Enjoy ocean views and an abundance of natural light throughout the living spaces. The open attic area presents exciting potential to create additional living space, a home office, studio, or guest accommodation. Situated on a large property with secondary road access to the upper portion of the lot, offering added flexibility and future possibilities. A rare opportunity to own a character-f
From listing remarks (Sutton Group-West Coast Realty)
Rating 9 /100 · incomplete data — ceiling 15
| Equity | 0/40 | no ARV — unscored | |
| Cash flow | 0/30 | -1,103/mo | |
| Suite-arb | 3.8/15 | zone permits a suite; other conditions short | |
| Motivation | 5.3/15 | 62d on market, 1 relist(s) |
Offer case
Price can't fix this. no ARV or rent estimate — cannot solve
EVIDENCE
- Coast-wide, homes sell at 97.6% of list — a 2.4% discount is simply normal here.
- 62 days on market vs a 59-day median.
- 1 previous failed listing(s) — this seller has been here before.
Support score 0.45 — 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 = $775,000 + $40,000 + $16,000 = $831,000
ARV = — → limit = 85% × ARV = —
margin = —
Rent — UNKNOWN
est. rent >= 0.40% x ARV
est. rent = $3,100/mo (whole house (3bd) $3,100)
floor = 0.4% × ARV — = —/mo
rents table: West Howe Sound · as of 2026-08-02
Cash flow — FAIL
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $3,105 (loan $620,000 @ 4.4%/30y)
+ tax $320 (mls) + ins $158 + maint $155 + vac $186 + PM $279
carrying = $4,203/mo · rent $3,100 → cash flow = $-1,103/mo (floor $-800)
Suite-arb — FAIL
zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median
zone R1 suite:yes · sqft 952 (min 1,900)
suite language: no · $/sqft 814 vs median 713
Scored 2026-08-03T08:53 · thresholds from criteria.yaml
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $3,100 typical self-managed |
$3,100 typical PM |
$3,450 high self-managed |
$3,450 high PM |
|---|---|---|---|---|
| $775,000 | −$824 | −$1,103 | −$513 | −$823 |
| $736,250 −5.0% | −$669 | −$948 | −$358 | −$668 |
| $709,125 −8.5% | −$561 | −$840 | −$249 | −$560 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
No ARV yet — 25 comps within 3.0km but only 2 within ±30% of 952 sqft — no ARV rather than a bad one. (25 solds nearby; comps backfill runs nightly.)
Solds from Redfin sold-search + public-records sale prices (belowTheFold)
Price & sale history
Seller basis: $90,000, 1990-05-01 — asking +761.1%
| 2026-08-03 | new | 775000 first seen at $775,000 |
| 2026-06-02 | Listed | $775,000 GVR |
| 2025-07-07 | Listed | $675,000 GVR |
| 1990-05-01 | Sold (Public Records) | $90,000 Public Records |
| 1989-02-22 | Sold (Public Records) | $65,000 Public Records |
| 1974-04-15 | Sold (Public Records) | $28,500 Public Records |
History: Redfin belowTheFold · fetched 2026-08-03T07:45
· events observed by Coastwatch
Zoning & land
R1 — Residential One 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]
- DPA #3 - Slope Hazards — 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.
- DPA #5 - Aquifer Protection and Stormwater Management — Aquifer protection DPA: septic siting and well drilling are constrained.
| PID | 013-073-672 |
|---|---|
| Parcel | 915 MARINE DR (SCRD) |
| Wastewater | none mapped — septic likely (no suite carve-out) |
| Water | Chapman system |
| Fire protection | Gibsons/West Howe Sound FPA |
| Bylaw | https://www.scrd.ca/zoning-bylaws/ |
SCRD Planning_ZoningLanduse · fetched 2026-08-03T05:43 · meanings from zoning_rules.yaml (verify before relying)
Assessment
| Assessed total | $744,700 |
|---|---|
| Land / improvements | $662,000 / $82,700 (89% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 0.96 |
| BCA folio | 746.00559.000 |
BC Assessment via SCRD parcel layer · fetched 2026-08-03T05:55
Open questions
- Built 1945 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- DPA #3 - Slope Hazards: 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.
- DPA #5 - Aquifer Protection and Stormwater Management: Aquifer protection DPA: septic siting and well drilling are constrained.
- 62 days on market — ask the listing agent why it hasn't moved.