$699,000 GREY
464 Pratt Rd, Elphinstone
— bd · — ba · 111 sqft
· 104,544 sqft lot
· 49 DOM · MLS R3135806
Listing: Redfin search · fetched 2026-08-03T07:15
Description
Discover a rare opportunity to own a beautiful 2.44-acre property on the Sunshine Coast, offering privacy, space, and exciting potential for agriculture or a peaceful country lifestyle. Located within the Sunshine Coast Regional District, this property combines a desirable Agricultural B designation with rural residential (RU-3) zoning, making it ideal for those seeking room to grow, farm, or create a private retreat. With over two acres of land, this versatile landscape suitable for rural and agricultural uses, with ample room for market garden, greenhouse operation, plant nursery, farm, or specialty crop cultivation, this property offers the space and flexibility to bring your vision to l
From listing remarks (Angell, Hasman & Associates Realty Ltd.)
The four tests
Equity — FAIL
(price + $40,000 reno + $5,000 closing) <= 85% x ARV
all-in = $699,000 + $40,000 + $5,000 = $744,000
ARV = $62,160 → limit = 85% × ARV = $52,836
margin = $-691,164
Rent — PASS
est. rent >= 0.40% x ARV
est. rent = $3,150/mo (whole house (3bd) $3,150)
floor = 0.4% × ARV $62,160 = $249/mo
rents table: Elphinstone · as of 2026-08-02
Cash flow — PASS
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $2,800 (loan $559,200 @ 4.4%/30y)
+ tax $246 (mls) + ins $158 + maint $158 + vac $189 + PM $284
carrying = $3,834/mo · rent $3,150 → cash flow = $-684/mo (floor $-800)
Suite-arb — FAIL
zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median
zone AG suite:no · sqft 111 (min 1,900)
suite language: no · $/sqft 6,297 vs median 626
Scored 2026-08-03T06:55 · thresholds from criteria.yaml
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $1,625 typical self-managed |
$1,625 typical PM |
$1,900 high self-managed |
$1,900 high PM |
|---|---|---|---|---|
| $699,000 | −$1,758 | −$1,904 | −$1,513 | −$1,684 |
| $664,050 −5.0% | −$1,618 | −$1,764 | −$1,373 | −$1,544 |
| $639,585 −8.5% | −$1,520 | −$1,666 | −$1,275 | −$1,446 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
ARV $62,160
median $/sqft of 18 nearby solds x 112% reno uplift (only 0 renovated comps found) · confidence low
($/sqft used: 500)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 998 Fircrest Rd | 0.38 km | 1,594 | ~$732,297 | 459 | 2025-09-03 | |
| 806 Oceanmount Blvd | 1.1 km | 2,913 | ~$1,416,687 | 486 | 2025-10-01 | |
| 808 Bayview Heights Rd | 1.26 km | 2,430 | ~$1,075,372 | 443 | 2025-09-12 | |
| 749 Winn Rd | 1.33 km | 3,640 | ~$1,416,687 | 389 | 2026-04-08 | ✓ |
| 617 Gower Point Rd | 1.36 km | 2,003 | ~$800,736 | 400 | 2026-01-16 | ✓ |
| 1051 Gower Point Rd | 1.47 km | 1,490 | ~$1,173,142 | 787 | 2026-02-23 | |
| 890 Trower Lane | 1.74 km | 783 | ~$664,738 | 849 | 2025-09-10 | |
| 636 Bay Rd | 1.8 km | 1,445 | ~$1,758,882 | 1,217 | 2026-01-30 | |
| ~ = 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) | ||||||
Solds from Redfin sold-search + public-records sale prices (belowTheFold)
Price & sale history
| 2026-08-03 | new | 699000 first seen at $699,000 |
| 2026-06-15 | Listed | $699,000 GVR |
History: Redfin belowTheFold · fetched 2026-08-03T05:45
· events observed by Coastwatch
Zoning & land
AG — Agriculture suite OK ALR
Areas B/D/E/F: one single-unit dwelling (350 m2 max) is a permitted use, so a secondary suite follows under s.5.1.1(h) — plus an auxiliary dwelling unit on parcels over 1 ha, capped at 90 m2. Gibsons AG permits up to three dwelling units on ALR land. In BOTH cases s.7.17.2(a) subordinates everything to the ALR Use Regulation: a suite entirely inside the principal residence needs no ALC approval, but any detached or additional dwelling does. Treat the suite as live and the detached unit as an application. [Bylaw 722.9 s.7.17.2, s.5.1.1(h); gibsons.ca Bylaw 1342 s.2.5.1; ALR Use Regulation] — PARCEL IS IN THE ALR: an in-house secondary suite is fine, but any additional/detached dwelling needs ALC approval.
| PID | 011-781-491 |
|---|---|
| Parcel | 464 PRATT RD (SCRD) |
| 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/ |
SCRD Planning_ZoningLanduse · fetched 2026-08-03T05:46 · meanings from zoning_rules.yaml (verify before relying)
Assessment
| Assessed total | $1,065,000 |
|---|---|
| Land / improvements | $956,000 / $109,000 (90% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.52 asking under assessment |
| BCA folio | 746.00106.000 |
BC Assessment via SCRD parcel layer · fetched 2026-08-03T06:45
Open questions
- Parcel is in the ALR — confirm dwelling entitlements with the ALC before any suite/second-dwelling plan.
- 49 days on market — ask the listing agent why it hasn't moved.