$799,000 GREY
Description
Rating 11 /100
| Equity | 0/40 | -144,282 vs limit (-17.2% of ARV) | |
| Cash flow | 0/30 | -1,276/mo | |
| Suite-arb | 5.5/15 | zone permits a suite; other conditions short | |
| Motivation | 5.2/15 | 164d on market, no cuts — anchored seller, asking 124% of assessed |
Offer case
Price can't fix this. rent test — needs 3,347/mo vs 3,000 estimated. Price cannot fix this; only higher rent (a suite) or a lower ARV would.
EVIDENCE
- Coast-wide, homes sell at 97.7% of list — a 2.3% discount is simply normal here.
- 164 days on market vs a 59-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
- Asking only 124% of assessed value — a genuine discount to the roll, not the usual 1-2%.
- Asking $573/sqft where comparable homes sold at $496/sqft (+16%) — 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 | $3,000 typical self-managed |
$3,000 typical PM |
$3,450 high self-managed |
$3,450 high PM |
|---|---|---|---|---|
| $799,000 | −$1,006 | −$1,276 | −$605 | −$916 |
| $759,050 −5.0% | −$846 | −$1,116 | −$445 | −$756 |
| $731,085 −8.5% | −$734 | −$1,004 | −$333 | −$644 |
Comps & ARV
ARV $836,704
range $695,488 – $989,000
(about half of comparable sales landed inside this band)
median $/sqft of 12 renovated size-matched sales (12 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence low
($/sqft used: 553)
Cross-check: comps say $771,435, BC Assessment × sale ratio says $989,000 (-22% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5592 Curtis Pl | 0.55 km | 1,358 | ~$974,547 | 718 | 2025-11-14 | ✓ |
| 5636 Cascade Cres | 0.82 km | 1,284 | ~$721,438 | 562 | 2026-07-18 | ✓ |
| 6307 Homestead Ave | 0.91 km | 1,403 | ~$776,318 | 553 | 2026-01-24 | ✓ |
| 5641 Nickerson Rd | 0.97 km | 1,487 | ~$805,612 | 542 | 2026-03-06 | ✓ |
| 6270 Homestead Ave | 1.0 km | 1,284 | ~$756,788 | 589 | 2026-01-21 | ✓ |
| 6242 Norwest Bay Rd | 1.07 km | 1,707 | ~$671,344 | 393 | 2025-10-19 | ✓ |
| 5726 Emily Way | 1.16 km | 1,360 | ~$729,446 | 536 | 2026-03-16 | ✓ |
| 5808 Anchor Rd | 2.94 km | 1,056 | ~$780,224 | 739 | 2026-02-20 | ✓ |
| ~ = 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: $424,000, 2014-03-24 — asking +88.4%
| 2026-09-25 | delisted | absent from search results |
| 2026-08-03 | new | 799000 first seen at $799,000 |
| 2014-03-24 | Sold (Public Records) | $424,000 Public Records |
| 2013-07-28 | Listed | $449,000 GVR |
| 2003-07-11 | Sold (Public Records) | $75,000 Public Records |
Zoning & land
R-2 — Low Density Residential 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]
- Watercourse Hazard
- Slope greater than 20% to 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 | 007-651-767 |
|---|---|
| Parcel | 6508 LYNNWOOD CRT (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $989,000 |
|---|---|
| Land / improvements | $592,000 / $397,000 (60% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.24 asking under assessment |
| BCA folio | 570.02084.426 |
Open questions
- Slope greater than 20% to 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.
- 164 days on market — ask the listing agent why it hasn't moved.