$724,500 GREY SUITE-ARB
Description
Rating 30 /100
| Equity | 9.6/40 | -40,969 vs limit (-4.7% of ARV) | |
| Cash flow | 0.4/30 | -783/mo | |
| Suite-arb | 15.0/15 | add-a-suite opportunity, unpriced | |
| Motivation | 4.8/15 | 71d on market, 1 cut(s) |
Offer case
Price can't fix this. rent test — needs 3,475/mo vs 3,400 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.
- 1 price cut(s) already — the seller has shown they will move.
- Already asking below the $504/sqft local sold level — little room to push.
- 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 | $3,400 typical self-managed |
$3,400 typical PM |
$3,900 high self-managed |
$3,900 high PM |
|---|---|---|---|---|
| $724,500 | −$477 | −$783 | −$32 | −$383 |
| $688,275 −5.0% | −$331 | −$637 | +$114 | −$237 |
| $662,918 −8.5% | −$230 | −$536 | +$215 | −$136 |
Comps & ARV
ARV $868,848
range $720,000 – $1,206,013
(about half of comparable sales landed inside this band)
median $/sqft of 12 renovated size-matched sales (12 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence low
($/sqft used: 402)
Cross-check: comps say $932,640, BC Assessment × sale ratio says $720,000 (+30% apart — disagreement this large triples comp error historically)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5656 Cook Pl | 0.81 km | 2,330 | ~$876,987 | 376 | 2026-05-19 | ✓ |
| 6242 Norwest Bay Rd | 1.4 km | 1,707 | ~$671,412 | 393 | 2025-10-19 | ✓ |
| 6355 Baillie Rd | 1.41 km | 2,288 | ~$1,220,750 | 534 | 2026-01-22 | ✓ |
| 7462 Redrooffs Rd | 3.8 km | 2,851 | ~$829,133 | 291 | 2025-10-23 | ✓ |
| 7955 Connor Rd | 5.19 km | 1,746 | ~$829,133 | 475 | 2025-09-16 | ✓ |
| 4967 Laurel Ave | 6.12 km | 2,039 | ~$820,246 | 402 | 2026-02-23 | ✓ |
| 9196 Truman Rd | 9.75 km | 2,139 | ~$1,318,410 | 616 | 2025-09-03 | ✓ |
| 5549 Sans Souci Rd | 12.49 km | 2,205 | ~$809,601 | 367 | 2026-04-03 | ✓ |
| ~ = 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: $570,000, 2020-08-31 — asking +27.1%
| 2026-08-25 | delisted | absent from search results |
| 2026-08-13 | price_cut | 749999 → 724500 -3.4% |
| 2026-08-03 | new | 749999 first seen at $749,999 |
| 2026-08-12 | Price Changed | $724,500 GVR |
| 2026-06-15 | Listed | $749,999 GVR |
| 2020-08-31 | Sold (Public Records) | $570,000 Public Records |
| 2020-07-04 | Listed | $569,000 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 | 004-079-957 |
|---|---|
| Parcel | 5607 WAKEFIELD RD (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $720,000 |
|---|---|
| Land / improvements | $514,000 / $206,000 (71% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 0.99 |
| BCA folio | 570.02101.114 |
Open questions
- Confirm suite legality with the planning department — zone says yes, verify parcel specifics (parking, servicing, floor-area cap).
- Listing itself advertises suite potential — ask what's already roughed in (plumbing, separate entrance, ceiling height).
- Built 1980 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- As-is/estate/court sale — no seller disclosures. Budget a thorough inspection; ask what the court/estate timeline is.
- 69 days on market — ask the listing agent why it hasn't moved.