$789,000 GREY

4981 Geer Rd, Selma Park

2 bd · 1.0 ba · 1,148 sqft · 8,276 sqft lot · built 2004 · 73 DOM · MLS R3126744

Ocean view

Redfin ↗

Listing: Redfin search · fetched 2026-08-03T07:15

Description

Private escape with some ocean views  &  treehouse feel. Open-concept featuring 2 bedrooms + flex space, loft bedroom, wall of windows, and newly sanded hardwood 3/4 " alder floors. Enjoy seamless indoor/outdoor living with a covered year-round deck and heater. New efficient gas fireplace, fully fenced yard and storage sheds. Plenty of stand up storage in basement. Davis Bay pier, beach, shops, restaurants, trails and lifestyle awaits.

From listing remarks (RE/MAX City Realty)

Rating 11 /100 · incomplete data — ceiling 18

Equity	0/40	no ARV — unscored
Cash flow	0/30	-1,721/mo
Suite-arb	4.5/15	zone permits a suite; other conditions short
Motivation	6.3/15	73d 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.
73 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 = $789,000 + $40,000 + $16,280 = $845,280 ARV = — → limit = 85% × ARV = — margin = —

Rent — UNKNOWN

est. rent >= 0.40% x ARV

est. rent = $2,460/mo (whole house (2bd) $2,460) floor = 0.4% × ARV — = —/mo rents table: Sechelt · as of 2026-08-02

Cash flow — FAIL

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

payment $3,161 (loan $631,200 @ 4.4%/30y) + tax $370 (mls) + ins $158 + maint $123 + vac $148 + PM $221 carrying = $4,181/mo · rent $2,460 → cash flow = $-1,721/mo (floor $-800)

Suite-arb — FAIL

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

zone R-1 suite:yes · sqft 1,148 (min 1,900) suite language: no · $/sqft 687 vs median 489

Scored 2026-08-03T08:51 · thresholds from criteria.yaml

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
$789,000	−$1,500	−$1,721	−$1,171	−$1,426
$749,550 −5.0%	−$1,342	−$1,563	−$1,013	−$1,268
$721,935 −8.5%	−$1,231	−$1,452	−$903	−$1,157

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

Comps & ARV

No ARV yet — 4 comps within 3.0km but only 1 within ±30% of 1,148 sqft — no ARV rather than a bad one. (4 solds nearby; comps backfill runs nightly.)

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

Price & sale history

Seller basis: $95,000, 2004-06-30 — asking +730.5%

2026-08-03	new	789000 first seen at $789,000
2026-05-22	Listed	$789,000 GVR
2006-02-14	Listed	$349,900 GVR
2004-06-30	Sold (Public Records)	$95,000 Public Records
1991-07-23	Sold (Public Records)	$42,500 Public Records

History: Redfin belowTheFold · fetched 2026-08-03T07:45 · events observed by Coastwatch

Zoning & land

R-1 — Large Lot, Low Density Residential 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]

PID	007-973-144
Parcel	4981 GEER RD (Sechelt)
Wastewater	District of Sechelt sewer service
Water	Chapman system
Fire protection	Sechelt FPA

District of Sechelt Zoning Bylaw 580 (gis.sechelt.ca) · fetched 2026-08-03T05:43 · meanings from zoning_rules.yaml (verify before relying)

Assessment

Assessed total	$708,000
Land / improvements	$473,000 / $235,000 (67% land — the higher, the more the value is in the dirt)
Assessed / ask	0.9
BCA folio	570.03367.500

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

Open questions

73 days on market — ask the listing agent why it hasn't moved.