$619,000 GREY
Description
Rating 31 /100
| Equity | 8.6/40 | -39,124 vs limit (-5.3% of ARV) | |
| Cash flow | 0/30 | -1,124/mo | |
| Suite-arb | 9.9/15 | zone permits a suite; other conditions short | |
| Motivation | 12.2/15 | 114d on market, 1 cut(s), asking 118% of assessed |
Offer case
Price can't fix this. rent test — needs 2,978/mo vs 2,460 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.
- 114 days on market vs a 60-day median.
- 1 price cut(s) already — the seller has shown they will move.
- Asking only 118% of assessed value — a genuine discount to the roll, not the usual 1-2%.
- Already asking below the $495/sqft local sold level — little room to push.
The four tests
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $2,460 typical self-managed |
$2,460 typical PM |
$2,829 high self-managed |
$2,829 high PM |
|---|---|---|---|---|
| $619,000 | −$902 | −$1,124 | −$574 | −$828 |
| $588,050 −5.0% | −$778 | −$1,000 | −$450 | −$704 |
| $566,385 −8.5% | −$691 | −$913 | −$363 | −$618 |
Comps & ARV
ARV $744,419
range $618,779 – $890,476
(about half of comparable sales landed inside this band)
median $/sqft of 12 renovated size-matched sales (12 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence medium
($/sqft used: 553)
Cross-check: comps say $752,080, BC Assessment × sale ratio says $726,544 (+4% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5726 Emily Way | 0.12 km | 1,360 | ~$729,371 | 536 | 2026-03-16 | ✓ |
| 6270 Homestead Ave | 0.22 km | 1,284 | ~$756,710 | 589 | 2026-01-21 | ✓ |
| 6307 Homestead Ave | 0.31 km | 1,403 | ~$776,238 | 553 | 2026-01-24 | ✓ |
| 5641 Nickerson Rd | 0.31 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| 5636 Cascade Cres | 0.31 km | 1,284 | ~$721,364 | 562 | 2026-07-18 | ✓ |
| 5592 Curtis Pl | 0.51 km | 1,358 | ~$974,447 | 718 | 2025-11-14 | ✓ |
| 6242 Norwest Bay Rd | 0.91 km | 1,707 | ~$671,275 | 393 | 2025-10-19 | ✓ |
| 6472 Jasper Rd | 0.92 km | 1,163 | ~$750,852 | 646 | 2026-07-01 | ✓ |
| ~ = 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
Seller basis: $605,000, 2021-08-30 — asking +2.3%
| 2026-09-02 | price_cut | 639000 → 619000 -3.1% |
| 2026-08-03 | new | 639000 first seen at $639,000 |
| 2026-09-02 | Price Changed | $619,000 GVR |
| 2026-07-16 | Price Changed | $639,000 GVR |
| 2026-06-10 | Listed | $659,000 GVR |
| 2021-08-30 | Sold (Public Records) | $605,000 Public Records |
| 2021-04-26 | Listed | $620,000 GVR |
| 2006-07-21 | Sold (Public Records) | $276,763 Public Records |
Zoning & land
R-3 — Small Lot Residential suite OK
Areas B/D/E/F: single-unit dwelling with a restricted second storey. Density is capped at one dwelling per parcel, but s.5.24.4 excludes secondary suites from that count, so a suite still works (wastewater carve-out aside). No auxiliary dwelling unit here. Area A: residential with auxiliary commercial — over 2000 m2 gets a duplex second unit OR one auxiliary dwelling unit. Sechelt R-3: SSMUH small-lot zone, suite plus up to 4 units. [Bylaw 722.9 s.7.3.2-7.3.3, s.5.24.4; Bylaw 337 s.621.1; Bylaw 580 s.1.3.2-1.3.4]
| PID | 026-560-330 |
|---|---|
| Parcel | 5687 EMILY WAY (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $728,000 |
|---|---|
| Land / improvements | $451,000 / $277,000 (62% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.18 asking under assessment |
| BCA folio | 570.06421.131 |
Open questions
- 109 days on market — ask the listing agent why it hasn't moved.