$609,900 GREY

8161 Westwood Rd, Halfmoon Bay

3 bd · 1.0 ba · 950 sqft · 20,473 sqft lot · built 1990 · 71 DOM · MLS R3138541

Fixer / handymanTenanted

Redfin ↗

Listing: Redfin search · fetched 2026-09-01T13:15

Description

Bring your ideas and unlock the potential of this 3-bedroom, 1-bath rancher in the sought-after Welcome Woods neighbourhood. Situated on a generous lot, this property offers an excellent opportunity for investors, renovators, or those looking to build equity. Conveniently located close to the elementary school, recreation trails, and only 15 minutes from Sechelt, the location offers the perfect balance of rural charm and accessibility. The home is currently tenant-occupied, and the new owner must accept the existing tenancy. Property is being sold "as is, where is. " A great chance to get into a desirable area and create something special.

From listing remarks (Royal LePage Sussex)

Rating 14 /100

Equity	0.1/40	-69,249 vs limit (-9.9% of ARV)
Cash flow	9.1/30	-375/mo
Suite-arb	3.8/15	zone permits a suite; other conditions short
Motivation	1.0/15	74d on market, no cuts — anchored seller

Offer case

GREEN at $192,000 — that's $417,900 (68.5%) below the $609,900 ask. Long shot

That discount is 29.2× what this market normally concedes.

EVIDENCE

Coast-wide, homes sell at 97.7% of list — a 2.3% discount is simply normal here.
Asking $642/sqft where comparable homes sold at $546/sqft (+18%) — the ask is above the local clearing price.
ARV confidence is LOW (thin or unrenovated comps) — the target price below could be off by 10%+ in either direction.

Support score 0.15 — evidence weight that this seller would entertain the discount. Not a prediction; a checklist with numbers.

The four tests

Equity — FAIL

(price + $40,000 reno + PTT+legal closing) <= 85% x ARV

all-in = $609,900 + $40,000 + $12,698 = $662,598 ARV = $698,058 → limit = 85% × ARV = $593,349 margin = $-69,249 · at band low ($279,286): $-425,205 — GREEN needs this ≥ 0

Rent — PASS

est. rent >= 0.40% x ARV

est. rent = $3,100/mo (whole house (3bd) $3,100) floor = 0.4% × ARV $698,058 = $2,792/mo rents table: Halfmoon Bay · as of 2026-08-02

Cash flow — PASS

rent - carrying >= -800/mo (PM-managed, typical rent, at ask)

payment $2,443 (loan $487,920 @ 4.4%/30y) + tax $253 (mls) + ins $158 + maint $155 + vac $186 + PM $279 carrying = $3,475/mo · rent $3,100 → cash flow = $-375/mo (floor $-800)

Suite-arb — FAIL

zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median

zone R2 suite:yes · sqft 950 (min 1,900) suite language: no · $/sqft 642 vs median 483

Scored 2026-09-01T07:16 · 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
$609,900	−$96	−$375	+$216	−$95
$579,405 −5.0%	+$26	−$253	+$338	+$27
$558,058 −8.5%	+$112	−$167	+$423	+$113

Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml

Comps & ARV

ARV $698,058 range $279,286 – $1,130,999 (about half of comparable sales landed inside this band)
median $/sqft of 3 renovated size-matched sales (3 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence low ($/sqft used: 739)

Cross-check: comps say $702,050, BC Assessment × sale ratio says $688,744 (+2% apart)

Sold	Dist	Sqft	Price	$/sqft	Date	Reno
5625 O'brian Rd	3.9 km	856	~$868,108	1,014	2026-03-06	✓
5808 Anchor Rd	8.85 km	1,056	~$780,224	739	2026-02-20	✓
5750 Spindrift St	9.12 km	1,176	~$556,605	473	2026-05-10	✓
~ = 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)

Solds from Redfin sold-search + public-records sale prices (belowTheFold)

Price & sale history

Seller basis: $117,000, 2001-05-31 — asking +421.3%

2026-09-01	delisted	absent from search results
2026-08-03	new	609900 first seen at $609,900
2026-06-19	Listed	$609,900 GVR
2001-05-31	Sold (Public Records)	$117,000 Public Records
1990-12-19	Sold (Public Records)	$90,900 Public Records

History: Redfin belowTheFold · fetched 2026-09-01T07:45 · events observed by Coastwatch

Zoning & land

R2 — Residential Two 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	007-334-109
Parcel	8161 WESTWOOD RD (SCRD)
Wastewater	none mapped — septic likely (no suite carve-out)
Water	Chapman system
Fire protection	Halfmoon Bay 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	$686,000
Land / improvements	$540,000 / $146,000 (79% land — the higher, the more the value is in the dirt)
Assessed / ask	1.12 asking under assessment
BCA folio	746.03003.030

BC Assessment via SCRD parcel layer · fetched 2026-08-03T05:55

Open questions

Tenancy: fixed-term or month-to-month? Current rent? BC notice rules will govern possession.
71 days on market — ask the listing agent why it hasn't moved.