$775,000 GREY
710 Gibsons Way, Gibsons
3 bd · 2.0 ba · 1,848 sqft
· 7,405 sqft lot
· built 1970
· 87 DOM · MLS R3121623
Ocean view
Oil-tank era
Listing: Redfin search · fetched 2026-08-03T07:15
Description
Investor Alert! This 3 bedroom family home with garden level suite ticking all the boxes for the shrewd investor or buyer looking for an entry-priced ocean and mountain VIEW property that's perfectly situated within walking distance to all the amenities of upper and lower Gibsons, schools, marina, beach, and public transportation. Set back from Gibsons Way for quiet and privacy this property has a large sunny backyard. In an area of mixed zoning and increased density, this is an excellent holding property and easily rented. Or, update to suit your taste, and move the family in to enjoy the vibrant, beautiful town of Gibsons, with sea views, festivals, and every sort of outdoor recreation ne
From listing remarks (Sutton Group-West Coast Realty)
Rating 42 /100
| Equity | 40.0/40 | +224,578 vs limit (+18.1% of ARV) | |
| Cash flow | 0/30 | -1,009/mo | |
| Suite-arb | 0.0/15 | no suite path | |
| Motivation | 1.9/15 | 87d on market, no cuts — anchored seller |
Offer case
Price can't fix this. rent test — needs 4,967/mo vs 3,300 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.
- 87 days on market vs a 59-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
- ARV confidence is LOW (thin or unrenovated comps) — the target price below could be off by 10%+ in either direction.
Support score 0.0 — evidence weight that this seller
would entertain the discount. Not a prediction; a checklist with numbers.
The four tests
Equity — PASS
(price + $40,000 reno + PTT+legal closing) <= 85% x ARV
all-in = $775,000 + $40,000 + $16,000 = $831,000
ARV = $1,241,856 → limit = 85% × ARV = $1,055,578
margin = $224,578
Rent — FAIL
est. rent >= 0.40% x ARV
est. rent = $3,300/mo (whole house (3bd) $3,300)
floor = 0.4% × ARV $1,241,856 = $4,967/mo
rents table: Gibsons · as of 2026-08-02
Cash flow — FAIL
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $3,105 (loan $620,000 @ 4.4%/30y)
+ tax $386 (mls) + ins $158 + maint $165 + vac $198 + PM $297
carrying = $4,309/mo · rent $3,300 → cash flow = $-1,009/mo (floor $-800)
Suite-arb — FAIL
zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median
zone RM-3 suite:no · sqft 1,848 (min 1,900)
suite language: no · $/sqft 419 vs median 501
Scored 2026-08-03T08:51 · thresholds from criteria.yaml
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $3,300 typical self-managed |
$3,300 typical PM |
$3,650 high self-managed |
$3,650 high PM |
|---|---|---|---|---|
| $775,000 | −$712 | −$1,009 | −$400 | −$729 |
| $736,250 −5.0% | −$556 | −$853 | −$245 | −$573 |
| $709,125 −8.5% | −$448 | −$745 | −$136 | −$465 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
ARV $1,241,856 — median $/sqft of 12 size-matched comps x 112% reno uplift (only 1 renovated comps found) · confidence low ($/sqft used: 600)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 702 Gibsons Way | 0.03 km | 1,452 | ~$828,454 | 571 | 2026-03-12 | |
| 682 Crucil Rd | 0.14 km | 2,356 | ~$779,664 | 331 | 2026-03-16 | |
| 670 Fairmont Rd | 0.25 km | 2,135 | ~$828,454 | 388 | 2026-01-20 | |
| 614 Glen Rd | 0.39 km | 1,551 | ~$974,824 | 629 | 2026-01-14 | |
| 538 Reed Rd | 1.09 km | 2,071 | ~$663,446 | 320 | 2025-11-10 | |
| 481 Central Ave | 1.12 km | 2,339 | ~$1,551,522 | 663 | 2026-02-11 | |
| 636 Bay Rd | 1.16 km | 1,445 | ~$1,755,464 | 1,215 | 2026-01-30 | |
| 454 Central Ave | 1.23 km | 1,566 | ~$1,023,614 | 654 | 2025-09-24 | |
| ~ = final list price used as sale proxy (BC title registration lags ~6-12 mo) | ||||||
Solds from Redfin sold-search + public-records sale prices (belowTheFold)
Price & sale history
Seller basis: $335,000, 2007-09-13 — asking +131.3%
| 2026-08-03 | new | 775000 first seen at $775,000 |
| 2026-06-09 | Price Changed | $775,000 GVR |
| 2026-05-08 | Listed | $799,000 GVR |
| 2007-09-13 | Sold (Public Records) | $335,000 Public Records |
| 2007-06-18 | Listed | $349,900 GVR |
| 2004-02-12 | Sold (Public Records) | $149,000 Public Records |
| 2003-12-11 | Listed | $149,900 GVR |
History: Redfin belowTheFold · fetched 2026-08-03T07:45
· events observed by Coastwatch
Zoning & land
RM-3 — RM-3 - Medium-Density Residential Upper Gibsons Zone no suite / unknown
Manufactured home park in both SCRD bylaws — no single-unit dwelling, so no suite. Gibsons RM-3 is medium-density apartments/townhouses with limited corner-lot retail. Not a detached-house buy. [Bylaw 722.9 s.7.6.2; Bylaw 337 s.721.1; gibsons.ca Bylaw 1342 s.2.2.5]
- Aquifer Protection DPA: Aquifer Protection Sub Area 3 — Aquifer protection DPA: septic siting and well drilling are constrained.
- Form and Character DPA: DPA 5 Multi-Unit Residential — Form-and-character DPA: exterior design must be approved. Adds time to any visible exterior change, but rarely blocks an interior suite.
| PID | 005-878-594 |
|---|---|
| Parcel | 706 GIBSONS WAY (Gibsons) |
| Wastewater | Town of Gibsons sewer service |
| Water | Gibsons Zone 2 - Gibsons Aquifer system |
| Fire protection | Gibsons/West Howe Sound FPA |
Town of Gibsons Zoning Bylaw (current, via Property Viewer service) · fetched 2026-08-03T05:46 · meanings from zoning_rules.yaml (verify before relying)
Assessment
| Assessed total | $802,100 |
|---|---|
| Land / improvements | $796,000 / $6,100 (99% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.03 asking under assessment |
| BCA folio | 524.00903.001 |
BC Assessment via SCRD parcel layer · fetched 2026-08-03T05:55
Open questions
- Built 1970 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- Aquifer Protection DPA: Aquifer Protection Sub Area 3: Aquifer protection DPA: septic siting and well drilling are constrained.
- Form and Character DPA: DPA 5 Multi-Unit Residential: Form-and-character DPA: exterior design must be approved. Adds time to any visible exterior change, but rarely blocks an interior suite.
- 87 days on market — ask the listing agent why it hasn't moved.