$599,999 GREY
Description
Rating 29 /100
| Equity | 24.6/40 | +28,403 vs limit (+3.5% of ARV) | |
| Cash flow | 0/30 | -869/mo | |
| Suite-arb | 2.1/15 | zone permits a suite; other conditions short | |
| Motivation | 2.2/15 | 13d on market, 1 cut(s) |
Offer case
Price can't fix this. rent test — needs 3,204/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 97.6% of list — a 2.4% discount is simply normal here.
- Only 13 days on market — too fresh for a big discount.
- 1 price cut(s) already — the seller has shown they will move.
- Asking $1,113/sqft where comparable homes sold at $495/sqft (+125%) — 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 |
|---|---|---|---|---|
| $599,999 | −$648 | −$869 | −$319 | −$574 |
| $569,999 −5.0% | −$528 | −$749 | −$199 | −$454 |
| $548,999 −8.5% | −$444 | −$665 | −$115 | −$370 |
Comps & ARV
ARV $801,061
range $299,660 – $963,657
(about half of comparable sales landed inside this band)
median $/sqft of 3 nearest size-matched sales × 101% paired reno premium (3 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence low
($/sqft used: 1,626)
Cross-check: comps say $885,178, BC Assessment × sale ratio says $604,788 (+46% apart — disagreement this large triples comp error historically)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 394 Pratt Rd | 20.53 km | 600 | ~$975,424 | 1,626 | 2026-04-02 | |
| 619 Marine Dr | 21.67 km | 670 | ~$682,504 | 1,019 | 2025-12-18 | |
| 115 Williamsons Landing Rd | 21.73 km | 672 | ~$1,160,940 | 1,728 | 2026-04-27 | |
| ~ = 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
| 2026-09-23 | relist | time-on-market reset — relisted |
| 2026-09-23 | price_cut | 624999 → 599999 -4.0% |
| 2026-09-22 | delisted | absent from search results |
| 2026-09-04 | relist | time-on-market reset — relisted |
| 2026-09-03 | delisted | absent from search results |
| 2026-08-03 | new | 624999 first seen at $624,999 |
| 2026-09-19 | Listed | $599,999 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]
- Slope greater than 30% — Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.
| PID | 023-106-433 |
|---|---|
| Parcel | 5973 SHOAL WAY (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $606,000 |
|---|---|
| Land / improvements | $410,000 / $196,000 (68% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.01 asking under assessment |
| BCA folio | 570.00333.129 |
Open questions
- Slope greater than 30%: Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.