$779,000 GREY
Description
Rating 11 /100
| Equity | 0/40 | -130,597 vs limit (-15.8% of ARV) | |
| Cash flow | 0/30 | -1,681/mo | |
| Suite-arb | 6.5/15 | zone permits a suite; other conditions short | |
| Motivation | 4.5/15 | 15d on market, 1 cut(s), 1 relist(s) |
Offer case
Price can't fix this. rent test — needs 3,315/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.
- Only 15 days on market — too fresh for a big discount.
- 1 price cut(s) already — the seller has shown they will move.
- 1 previous failed listing(s) — this seller has been here before.
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 |
|---|---|---|---|---|
| $779,000 | −$1,460 | −$1,681 | −$1,131 | −$1,386 |
| $740,050 −5.0% | −$1,304 | −$1,525 | −$975 | −$1,230 |
| $712,785 −8.5% | −$1,194 | −$1,416 | −$866 | −$1,121 |
Comps & ARV
ARV $828,804
range $615,933 – $875,708
(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: 536)
Cross-check: comps say $881,184, BC Assessment × sale ratio says $706,584 (+25% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 4967 Laurel Ave | 0.15 km | 2,039 | ~$820,078 | 402 | 2026-02-23 | ✓ |
| 4598 Whitaker Rd | 1.51 km | 1,707 | ~$712,772 | 418 | 2026-02-03 | ✓ |
| 5750 Spindrift St | 3.28 km | 1,176 | ~$556,548 | 473 | 2026-05-10 | ✓ |
| 5833 Heron Pl | 4.4 km | 1,915 | ~$829,842 | 433 | 2025-11-10 | ✓ |
| 6242 Norwest Bay Rd | 4.59 km | 1,707 | ~$671,275 | 393 | 2025-10-19 | ✓ |
| 5641 Nickerson Rd | 5.09 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| 6307 Homestead Ave | 5.13 km | 1,403 | ~$776,238 | 553 | 2026-01-24 | ✓ |
| 6270 Homestead Ave | 5.15 km | 1,284 | ~$756,710 | 589 | 2026-01-21 | ✓ |
| ~ = 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: $95,000, 2004-06-30 — asking +720.0%
| 2026-09-17 | relist | time-on-market reset — relisted |
| 2026-09-17 | price_cut | 789000 → 779000 -1.3% |
| 2026-08-29 | delisted | absent from search results |
| 2026-08-03 | new | 789000 first seen at $789,000 |
| 2026-09-17 | Listed | $779,000 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 |
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 |
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 | 0.91 |
| BCA folio | 570.03367.500 |
Open questions
None generated.