$749,000 GREY
Description
Rating 22 /100
| Equity | 0/40 | -146,732 vs limit (-19.0% of ARV) | |
| Cash flow | 0/30 | -983/mo | |
| Suite-arb | 11.6/15 | zone permits a suite; other conditions short | |
| Motivation | 10.5/15 | 175d on market, 1 cut(s) |
Offer case
GREEN at $569,000 — that's $180,000 (24.0%) below the $749,000 ask. Long shot
EVIDENCE
- Coast-wide, homes sell at 97.6% of list — a 2.4% discount is simply normal here.
- 175 days on market vs a 60-day median.
- 1 price cut(s) already — the seller has shown they will move.
- Already asking below the $552/sqft local sold level — little room to push.
The four tests
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $3,100 typical self-managed |
$3,100 typical PM |
$3,450 high self-managed |
$3,450 high PM |
|---|---|---|---|---|
| $749,000 | −$704 | −$983 | −$393 | −$703 |
| $711,550 −5.0% | −$554 | −$833 | −$243 | −$553 |
| $685,335 −8.5% | −$449 | −$728 | −$138 | −$448 |
Comps & ARV
ARV $773,821
range $730,728 – $1,036,686
(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 $749,172, BC Assessment × sale ratio says $831,334 (-10% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 1453 Davidson Rd | 1.12 km | 2,016 | ~$844,586 | 419 | 2026-01-02 | ✓ |
| 962 Cemetery Rd | 3.05 km | 1,916 | ~$1,049,630 | 548 | 2025-11-28 | ✓ |
| 565 Wildwood Cres | 3.18 km | 2,221 | ~$1,170,704 | 527 | 2026-01-08 | ✓ |
| 561 Spyglass Pl | 3.29 km | 1,962 | ~$1,170,704 | 597 | 2025-11-13 | ✓ |
| 617 Gower Point Rd | 4.06 km | 2,003 | ~$799,672 | 399 | 2026-01-16 | ✓ |
| 650A Dulcie Rd | 4.56 km | 2,308 | ~$649,306 | 281 | 2026-03-05 | ✓ |
| 304 Esplanade Rd | 4.77 km | 1,733 | ~$937,246 | 541 | 2026-06-15 | ✓ |
| 143 Pratt Rd | 5.35 km | 2,223 | ~$795,766 | 358 | 2025-11-05 | ✓ |
| ~ = 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: $74,500, 1989-05-16 — asking +905.4%
| 2026-08-12 | price_cut | 775000 → 749000 -3.4% |
| 2026-08-03 | new | 775000 first seen at $775,000 |
| 2026-08-12 | Price Changed | $749,000 GVR |
| 2026-06-16 | Price Changed | $775,000 GVR |
| 2026-04-10 | Listed | $799,000 GVR |
| 1989-05-16 | Sold (Public Records) | $74,500 Public Records |
| 1985-05-29 | Sold (Public Records) | $49,000 Public Records |
| 1980-12-15 | Sold (Public Records) | $77,000 Public Records |
Zoning & land
R1 — Residential One suite OK
Single-unit dwelling zone in all three bylaws, but the suite path differs. Areas B/D/E/F: suite permitted on any parcel EXCEPT inside an SCRD wastewater service area — check that first, it is the one thing that kills it outright. Also an auxiliary dwelling unit over 2000 m2 and a second single-unit dwelling over 3500 m2. Area A: no general suite right at all; an auxiliary dwelling unit needs over 2000 m2, a second dwelling needs 4000 m2. Sechelt R-1: secondary suite is a listed accessory use, plus a detached accessory dwelling unit at 2000 m2 and up (unsewered large-lot zone). [Bylaw 722.9 s.5.1.1(h), s.5.24.1, s.7.1.2; Bylaw 337 s.601.1; Bylaw 580 s.1.1.2-1.1.3]
- DPA #5 - Aquifer Protection and Stormwater Management — Aquifer protection DPA: septic siting and well drilling are constrained.
| PID | 011-240-300 |
|---|---|
| Parcel | 1175 MARINE DR (SCRD) |
| Wastewater | none mapped — septic likely (no suite carve-out) |
| Water | well / private — get well log + potability |
| Fire protection | Gibsons/West Howe Sound FPA |
| Bylaw | https://www.scrd.ca/zoning-bylaws/ |
Assessment
| Assessed total | $833,000 |
|---|---|
| Land / improvements | $615,000 / $218,000 (74% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.11 asking under assessment |
| BCA folio | 746.01486.005 |
Open questions
- Built 1974 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- No community water system mapped — well supply. Get the well log, flow rate (GPM) and a potability test before subjects come off.
- DPA #5 - Aquifer Protection and Stormwater Management: Aquifer protection DPA: septic siting and well drilling are constrained.
- 169 days on market — ask the listing agent why it hasn't moved.