$775,000 GREY
710 Gibsons Way, Gibsons
3 bd · 2.0 ba · 1,848 sqft
· 7,405 sqft lot
· built 1970
· 142 DOM · MLS R3121623
Ocean view
Oil-tank era
Listing: Redfin search · fetched 2026-09-27T19:15
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 3 /100
| Equity | 0/40 | -166,158 vs limit (-21.2% of ARV) | |
| Cash flow | 0/30 | -1,009/mo | |
| Suite-arb | 0.0/15 | no suite path | |
| Motivation | 3.0/15 | 147d on market, no cuts — anchored seller |
Offer case
GREEN at $575,000 — that's $200,000 (25.8%) below the $775,000 ask. Long shot
That discount is
10.9× what this market normally concedes.
EVIDENCE
- Coast-wide, homes sell at 97.6% of list — a 2.4% discount is simply normal here.
- 147 days on market vs a 60-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
- Already asking below the $545/sqft local sold level — little room to push.
Support score 0.0 — evidence weight that this seller
would entertain the discount. Not a prediction; a checklist with numbers.
The four tests
Equity — FAIL
(price + $40,000 reno + PTT+legal closing) <= 85% x ARV
all-in = $775,000 + $40,000 + $16,000 = $831,000
ARV = $782,167 → limit = 85% × ARV = $664,842
margin = $-166,158 · at band low ($738,610): $-203,182 — GREEN needs this ≥ 0
Rent — PASS
est. rent >= 0.40% x ARV
est. rent = $3,300/mo (whole house (3bd) $3,300)
floor = 0.4% × ARV $782,167 = $3,129/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 494
Scored 2026-10-02T05:55 · 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 $782,167
range $738,610 – $1,047,867
(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: 419)
Cross-check: comps say $774,312, BC Assessment × sale ratio says $800,496 (-3% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 565 Wildwood Cres | 0.39 km | 2,221 | ~$1,170,704 | 527 | 2026-01-08 | ✓ |
| 561 Spyglass Pl | 0.49 km | 1,962 | ~$1,170,704 | 597 | 2025-11-13 | ✓ |
| 522 Eaglecrest Dr | 0.72 km | 2,375 | ~$1,171,679 | 493 | 2026-01-09 | ✓ |
| 617 Gower Point Rd | 1.4 km | 2,003 | ~$799,672 | 399 | 2026-01-16 | ✓ |
| 962 Cemetery Rd | 1.57 km | 1,916 | ~$1,049,630 | 548 | 2025-11-28 | ✓ |
| 143 Pratt Rd | 2.56 km | 2,223 | ~$795,766 | 358 | 2025-11-05 | ✓ |
| 1453 Davidson Rd | 3.71 km | 2,016 | ~$844,586 | 419 | 2026-01-02 | ✓ |
| 304 Esplanade Rd | 5.18 km | 1,733 | ~$937,246 | 541 | 2026-06-15 | ✓ |
| ~ = 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) | ||||||
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 2026-09-27T19:46
· 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.
- 142 days on market — ask the listing agent why it hasn't moved.