$698,800 GREY
766 Gerussi Lane, Gibsons
2 bd · 2.0 ba · 1,006 sqft
· built 2013
· 159 DOM · MLS R3093644
Listing: Redfin search · fetched 2026-08-03T07:15
Description
Located in Parkland — one of Gibsons most sought-after neighborhoods —this charming rancher is just a short stroll to shops, grocery stores, walking trails, the recreation center, and local coffee spots. Perfect for first-time buyers, small families, retirees, or anyone looking to downsize and enjoy easy living. This detached home offers low-maintenance living with exceptionally low strata fees. The spacious primary bedroom features a large 3-piece ensuite, while the second bedroom offers flexibility as a guest room, home office, or hobby space. Complete with a single-car garage, this is a fantastic opportunity to enjoy comfortable, convenient living in a welcoming community.
From listing remarks (Sutton Group-West Coast Realty)
Rating 7 /100 · incomplete data — ceiling 12
| Equity | 0/40 | no ARV — unscored | |
| Cash flow | 0/30 | -1,143/mo | |
| Suite-arb | 4.0/15 | zone permits a suite; other conditions short | |
| Motivation | 3.0/15 | 161d on market, no cuts — anchored seller |
Offer case
Price can't fix this. no ARV or rent estimate — cannot solve
EVIDENCE
- Coast-wide, homes sell at 97.6% of list — a 2.4% discount is simply normal here.
- 161 days on market vs a 59-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
Support score 0.08 — evidence weight that this seller
would entertain the discount. Not a prediction; a checklist with numbers.
The four tests
Equity — UNKNOWN
(price + $40,000 reno + PTT+legal closing) <= 85% x ARV
all-in = $698,800 + $40,000 + $14,476 = $753,276
ARV = — → limit = 85% × ARV = —
margin = —
Rent — UNKNOWN
est. rent >= 0.40% x ARV
est. rent = $2,706/mo (whole house (2bd) $2,706)
floor = 0.4% × ARV — = —/mo
rents table: Gibsons · as of 2026-08-02
Cash flow — FAIL
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $2,799 (loan $559,040 @ 4.4%/30y)
+ tax $350 (mls) + ins $158 + maint $135 + vac $162 + PM $244
carrying = $3,849/mo · rent $2,706 → cash flow = $-1,143/mo (floor $-800)
Suite-arb — FAIL
zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median
zone RL-1 suite:yes · sqft 1,006 (min 1,900)
suite language: no · $/sqft 695 vs median 501
Scored 2026-08-03T08:51 · thresholds from criteria.yaml
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $2,706 typical self-managed |
$2,706 typical PM |
$2,993 high self-managed |
$2,993 high PM |
|---|---|---|---|---|
| $698,800 | −$900 | −$1,143 | −$644 | −$914 |
| $663,860 −5.0% | −$760 | −$1,003 | −$504 | −$774 |
| $639,402 −8.5% | −$662 | −$905 | −$406 | −$676 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
No ARV yet — 24 comps within 3.0km but only 1 within ±30% of 1,006 sqft — no ARV rather than a bad one. (24 solds nearby; comps backfill runs nightly.)
Solds from Redfin sold-search + public-records sale prices (belowTheFold)
Price & sale history
Seller basis: $299,428, 2015-09-30 — asking +133.4%
| 2026-08-03 | new | 698800 first seen at $698,800 |
| 2026-07-23 | Price Changed | $698,800 GVR |
| 2026-07-06 | Price Changed | $719,900 GVR |
| 2026-04-09 | Price Changed | $749,000 GVR |
| 2026-02-23 | Listed | $759,000 GVR |
| 2015-09-30 | Sold (Public Records) | $299,428 Public Records |
| 2014-08-01 | Listed | $314,999 GVR |
History: Redfin belowTheFold · fetched 2026-08-03T07:45
· events observed by Coastwatch
Zoning & land
RL-1 — RL-1 - Low-Density Residential Zone suite OK
Gibsons Low-Density Residential. Far stronger than a suite: THREE dwelling units on lots up to 280 m2 and FOUR on anything larger, max four units per building, 325 m2 GFA cap for a standalone dwelling. Rear building height of 6.5 m within 7.5 m of the rear lot line is what makes suites-above-garages and laneway homes work where there is a lane. Minimum lot area 280 m2. [gibsons.ca Bylaw 1342 s.2.2.1]
- Aquifer Protection DPA: Aquifer Protection Sub Area 3 — Aquifer protection DPA: septic siting and well drilling are constrained.
| PID | N/A |
|---|---|
| Parcel | 763 WRIGHT RD (Gibsons) |
| Wastewater | Town of Gibsons sewer service |
| Water | Gibsons Zone 3 - 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
Not fetched yet — runs with the next enrichment pass.
Open questions
- Aquifer Protection DPA: Aquifer Protection Sub Area 3: Aquifer protection DPA: septic siting and well drilling are constrained.
- 159 days on market — ask the listing agent why it hasn't moved.