$625,000 GREY
Description
Rating 55 /100
| Equity | 40.0/40 | +142,831 vs limit (+14.8% of ARV) | |
| Cash flow | 0/30 | -1,642/mo | |
| Suite-arb | 2.6/15 | zone permits a suite; other conditions short | |
| Motivation | 12.8/15 | 135d on market, 1 cut(s), asking 119% of assessed |
Offer case
Price can't fix this. rent test — needs 3,863/mo vs 1,700 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.
- 135 days on market vs a 60-day median.
- 1 price cut(s) already — the seller has shown they will move.
- Asking only 119% of assessed value — a genuine discount to the roll, not the usual 1-2%.
- Asking $967/sqft where comparable homes sold at $495/sqft (+96%) — 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 | $1,700 typical self-managed |
$1,700 typical PM |
$2,000 high self-managed |
$2,000 high PM |
|---|---|---|---|---|
| $625,000 | −$1,489 | −$1,642 | −$1,222 | −$1,402 |
| $593,750 −5.0% | −$1,364 | −$1,517 | −$1,097 | −$1,277 |
| $571,875 −8.5% | −$1,276 | −$1,429 | −$1,009 | −$1,189 |
Comps & ARV
ARV $965,683
range $519,876 – $1,132,371
(about half of comparable sales landed inside this band)
median $/sqft of 9 nearest size-matched sales × 101% paired reno premium (9 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence low
($/sqft used: 1,626)
Cross-check: comps say $1,060,900, BC Assessment × sale ratio says $743,510 (+43% apart — disagreement this large triples comp error historically)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 6075 Coracle Dr | 2.94 km | 713 | ~$1,170,704 | 1,642 | 2026-07-08 | |
| 6815 Sandy Hook Trail | 2.99 km | 767 | ~$975,424 | 1,272 | 2026-01-20 | |
| 6121 Golf Course Rd | 6.61 km | 782 | ~$1,463,624 | 1,872 | 2026-03-13 | |
| 5699 Trident Ave | 7.39 km | 801 | ~$532,138 | 664 | 2026-02-11 | |
| 8622 Merrry Island Espl | 12.19 km | 782 | ~$1,903,980 | 2,435 | 2026-05-14 | |
| 980 Woodley Rd | 17.41 km | 800 | ~$659,070 | 824 | 2025-11-06 | |
| 115 Williamsons Landing Rd | 22.91 km | 672 | ~$1,160,940 | 1,728 | 2026-04-27 | |
| 394 Pratt Rd | 23.7 km | 600 | ~$975,424 | 1,626 | 2026-04-02 | |
| ~ = 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
| 2026-09-16 | price_cut | 650000 → 625000 -3.8% |
| 2026-08-03 | new | 650000 first seen at $650,000 |
| 2026-09-16 | Price Changed | $625,000 GVR |
| 2026-06-11 | Price Changed | $650,000 GVR |
| 2026-05-20 | Listed | $675,000 GVR |
Zoning & land
R-1 — Large Lot, Low Density Residential 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]
- Rocky Beach Front, Escarpments and Slope Hazards — 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.
- 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 | 008-925-194 |
|---|---|
| Parcel | 7536 ISLETS PL (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $745,000 |
|---|---|
| Land / improvements | $739,000 / $6,000 (99% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.19 asking under assessment |
| BCA folio | 570.06029.221 |
Open questions
- Built 1968 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- Rocky Beach Front, Escarpments and Slope Hazards: 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.
- 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.
- 130 days on market — ask the listing agent why it hasn't moved.