$679,900 GREY
Description
Rating 9 /100
| Equity | 0/40 | -135,503 vs limit (-19.2% of ARV) | |
| Cash flow | 4.0/30 | -615/mo | |
| Suite-arb | 3.6/15 | zone permits a suite; other conditions short | |
| Motivation | 1.0/15 | 74d on market, no cuts — anchored seller |
Offer case
GREEN at $405,000 — that's $274,900 (40.4%) below the $679,900 ask. Long shot
EVIDENCE
- Coast-wide, homes sell at 97.7% of list — a 2.3% discount is simply normal here.
- Asking $755/sqft where comparable homes sold at $543/sqft (+39%) — the ask is above the local clearing price.
The four tests
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $3,150 typical self-managed |
$3,150 typical PM |
$3,500 high self-managed |
$3,500 high PM |
|---|---|---|---|---|
| $679,900 | −$331 | −$615 | −$20 | −$335 |
| $645,905 −5.0% | −$195 | −$479 | +$116 | −$199 |
| $622,108 −8.5% | −$100 | −$383 | +$212 | −$103 |
Comps & ARV
ARV $704,112
range $534,062 – $834,976
(about half of comparable sales landed inside this band)
median $/sqft of 12 nearest size-matched sales × 101% paired reno premium (12 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence medium
($/sqft used: 788)
Cross-check: comps say $716,292, BC Assessment × sale ratio says $675,692 (+6% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 667 Dougall Rd | 1.81 km | 1,000 | ~$575,158 | 575 | 2026-06-29 | |
| 327 Headlands Rd | 1.86 km | 817 | ~$643,514 | 788 | 2025-09-30 | |
| 512 S Fletcher Rd | 2.13 km | 1,012 | ~$829,048 | 819 | 2026-01-16 | |
| 764 Hillcrest Rd | 2.52 km | 1,137 | ~$620,078 | 545 | 2026-02-04 | |
| 765 Cascade Cres | 2.7 km | 1,131 | ~$712,845 | 630 | 2025-10-08 | |
| 619 Marine Dr | 2.73 km | 670 | ~$682,574 | 1,019 | 2025-12-18 | |
| 890 Trower Lane | 2.86 km | 783 | ~$663,922 | 848 | 2025-09-10 | |
| 980 Woodley Rd | 7.41 km | 800 | ~$659,138 | 824 | 2025-11-06 | |
| ~ = 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: $23,000, 1990-01-31 — asking +2856.1%
| 2026-09-01 | delisted | absent from search results |
| 2026-08-03 | new | 679900 first seen at $679,900 |
| 2026-06-19 | Listed | $679,900 GVR |
| 1990-01-31 | Sold (Public Records) | $23,000 Public Records |
Zoning & land
R2 — Residential Two 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]
| Wastewater | none mapped — septic likely (no suite carve-out) |
|---|---|
| Water | Chapman system |
| Fire protection | Gibsons/West Howe Sound FPA |
| Bylaw | https://www.scrd.ca/zoning-bylaws/ |
Assessment
| Assessed total | $673,000 |
|---|---|
| Land / improvements | $496,000 / $177,000 (74% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 0.99 |
| BCA folio | 746.01455.014 |
Open questions
- Tenancy: fixed-term or month-to-month? Current rent? BC notice rules will govern possession.
- Septic/well: age, last pump-out, and any permits on file? Get the well log and water potability test.
- 71 days on market — ask the listing agent why it hasn't moved.