$625,000 GREY
Description
Rating 18 /100
| Equity | 8.0/40 | -42,009 vs limit (-5.6% of ARV) | |
| Cash flow | 0/30 | -1,121/mo | |
| Suite-arb | 4.3/15 | zone permits a suite; other conditions short | |
| Motivation | 5.8/15 | 89d on market, 2 relist(s) |
Offer case
Price can't fix this. rent test — needs 2,993/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 97.7% of list — a 2.3% discount is simply normal here.
- 89 days on market vs a 78-day median.
- 2 previous failed listing(s) — this seller has been here before.
- Asking $580/sqft where comparable homes sold at $504/sqft (+15%) — 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.
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 |
|---|---|---|---|---|
| $625,000 | −$900 | −$1,121 | −$571 | −$826 |
| $593,750 −5.0% | −$774 | −$996 | −$446 | −$701 |
| $571,875 −8.5% | −$687 | −$908 | −$358 | −$613 |
Comps & ARV
ARV $748,225
range $504,375 – $1,144,817
(about half of comparable sales landed inside this band)
median $/sqft of 7 renovated size-matched sales (7 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence low
($/sqft used: 718)
Cross-check: comps say $773,286, BC Assessment × sale ratio says $689,748 (+12% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5592 Curtis Pl | 0.68 km | 1,358 | ~$974,547 | 718 | 2025-11-14 | ✓ |
| 6270 Homestead Ave | 0.84 km | 1,284 | ~$756,788 | 589 | 2026-01-21 | ✓ |
| 5726 Emily Way | 1.08 km | 1,360 | ~$729,446 | 536 | 2026-03-16 | ✓ |
| 5808 Anchor Rd | 2.43 km | 1,056 | ~$780,224 | 739 | 2026-02-20 | ✓ |
| 5750 Spindrift St | 2.45 km | 1,176 | ~$556,605 | 473 | 2026-05-10 | ✓ |
| 5625 O'brian Rd | 9.72 km | 856 | ~$868,108 | 1,014 | 2026-03-06 | ✓ |
| 535 Gower Point Rd | 22.02 km | 1,285 | ~$1,355,382 | 1,055 | 2025-09-17 | ✓ |
| ~ = 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: $289,000, 2015-06-29 — asking +116.3%
| 2026-09-02 | delisted | absent from search results |
| 2026-08-03 | new | 625000 first seen at $625,000 |
| 2026-07-28 | Price Changed | $625,000 GVR |
| 2026-07-16 | Price Changed | $629,500 GVR |
| 2026-06-29 | Price Changed | $639,000 GVR |
| 2026-06-05 | Listed | $646,500 GVR |
| 2019-11-30 | Delisted | GVR |
| 2019-08-13 | Price Changed | $514,000 GVR |
| 2019-04-08 | Listed | $524,000 GVR |
| 2015-06-29 | Sold (Public Records) | $289,000 Public Records |
| 2014-07-04 | Listed | $289,000 GVR |
| 2006-02-01 | Sold (Public Records) | $276,000 Public Records |
| 2005-10-15 | Listed | $279,900 GVR |
Zoning & land
R-2 — Low Density Residential 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 | 007-260-822 |
|---|---|
| Parcel | 5453 CARNABY PL (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $687,000 |
|---|---|
| Land / improvements | $514,000 / $173,000 (75% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.1 asking under assessment |
| BCA folio | 570.06340.159 |
Open questions
- Septic/well: age, last pump-out, and any permits on file? Get the well log and water potability test.
- 89 days on market — ask the listing agent why it hasn't moved.