$699,000 GREY
722 West Bay Rd, West Howe Sound
3 bd · 1.0 ba · 1,074 sqft
· 341,074 sqft lot
· built 2004
· 173 DOM · MLS R3089286
Septic / well
Listing: Redfin search · fetched 2026-08-03T07:15
Description
OVER 7.5 ACRES on Gambier Island! PERFECT for a large homestead, farm, or for a vacation property to share with friends! Properties this size and close to the water taxi are seldom available. Charming, well-kept and turnkey, 3-bedroom cabin with a large patio overlooking a sprawling lawn, pond, and fenced garden. New roof + gutters (2024)! Level, second building site with easy road access and beautiful forest views offers the ability to build a second residence. Just a short trip from Horseshoe Bay, and only a 5-minute walk from the Stormaway Water Taxi. Enjoy all that Gambier has to offer: exploring nearby beaches, hiking trails, beautiful forest walks, and berry picking in your own backya
From listing remarks (RE/MAX Masters Realty)
Rating 5 /100 · incomplete data — ceiling 8
| Equity | 0/40 | no ARV — unscored | |
| Cash flow | 2.1/30 | -700/mo | |
| Suite-arb | 0.0/15 | no suite path | |
| Motivation | 3.0/15 | 173d on market, no cuts — anchored seller |
Offer case
Price can't fix this. no ARV or rent estimate — cannot solve
EVIDENCE
- Coast-wide, homes sell at 97.5% of list — a 2.5% discount is simply normal here.
- 173 days on market vs a 59-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
Support score 0.08 — evidence weight that this seller
would entertain the discount. Not a prediction; a checklist with numbers.
The four tests
Equity — UNKNOWN
(price + $40,000 reno + PTT+legal closing) <= 85% x ARV
all-in = $699,000 + $40,000 + $14,480 = $753,480
ARV = — → limit = 85% × ARV = —
margin = —
Rent — UNKNOWN
est. rent >= 0.40% x ARV
est. rent = $3,100/mo (whole house (3bd) $3,100)
floor = 0.4% × ARV — = —/mo
rents table: West Howe Sound · 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 $222 (mls) + ins $158 + maint $155 + vac $186 + PM $279
carrying = $3,800/mo · rent $3,100 → cash flow = $-700/mo (floor $-800)
Suite-arb — FAIL
zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median
zone ? suite:no · sqft 1,074 (min 1,900)
suite language: no · $/sqft 651 vs median 713
Scored 2026-08-03T09:00 · thresholds from criteria.yaml
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 |
|---|---|---|---|---|
| $699,000 | −$421 | −$700 | −$110 | −$420 |
| $664,050 −5.0% | −$281 | −$560 | +$30 | −$280 |
| $639,585 −8.5% | −$183 | −$462 | +$128 | −$182 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
No ARV yet — 2 comps within 3.0km but only 0 within ±30% of 1,074 sqft — no ARV rather than a bad one. (2 solds nearby; comps backfill runs nightly.)
Solds from Redfin sold-search + public-records sale prices (belowTheFold)
Price & sale history
Seller basis: $185,000, 1998-12-09 — asking +277.8%
| 2026-08-03 | new | 699000 first seen at $699,000 |
| 2026-02-11 | Listed | $699,000 GVR |
| 1998-12-09 | Sold (Public Records) | $185,000 Public Records |
| 1995-01-30 | Sold (Public Records) | $212,500 Public Records |
History: Redfin belowTheFold · fetched 2026-08-03T07:46
· events observed by Coastwatch
Zoning & land
Unknown zone no suite / unknown
Zone not recognised. Check the bylaw before assuming anything.
| PID | 010-855-912 |
|---|---|
| Parcel | 722 WEST BAY RD (SCRD) |
| Wastewater | none mapped — septic likely (no suite carve-out) |
| Water | well / private — get well log + potability |
| Fire protection | none — insurance loads heavily |
— · fetched 2026-08-03T05:46 · meanings from zoning_rules.yaml (verify before relying)
Assessment
| Assessed total | $750,000 |
|---|---|
| Land / improvements | $477,000 / $273,000 (64% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.07 asking under assessment |
| BCA folio | 746.00969.000 |
BC Assessment via SCRD parcel layer · fetched 2026-08-03T06:45
Open questions
- Septic/well: age, last pump-out, and any permits on file? Get the well log and water potability test.
- No community water system mapped — well supply. Get the well log, flow rate (GPM) and a potability test before subjects come off.
- Outside every fire protection area — insurance will be heavily loaded or declined. Get a quote BEFORE offering.
- Zone None isn't in my rules file — read the bylaw and add it to zoning_rules.yaml.
- 173 days on market — ask the listing agent why it hasn't moved.