$609,900 GREY
Description
Rating 32 /100
| Equity | 13.9/40 | -17,916 vs limit (-2.4% of ARV) | |
| Cash flow | 3.1/30 | -657/mo | |
| Suite-arb | 9.7/15 | zone permits a suite; other conditions short | |
| Motivation | 5.2/15 | 177d on market, no cuts — anchored seller, asking 120% of assessed |
Offer case
Price can't fix this. rent test — needs 3,034/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 97.6% of list — a 2.4% discount is simply normal here.
- 177 days on market vs a 60-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
- Asking only 120% of assessed value — a genuine discount to the roll, not the usual 1-2%.
- Already asking below the $495/sqft local sold level — little room to push.
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 |
|---|---|---|---|---|
| $609,900 | −$387 | −$657 | +$14 | −$297 |
| $579,405 −5.0% | −$265 | −$535 | +$136 | −$175 |
| $558,058 −8.5% | −$179 | −$449 | +$221 | −$89 |
Comps & ARV
ARV $758,449
range $686,924 – $938,024
(about half of comparable sales landed inside this band)
median $/sqft of 11 renovated size-matched sales (11 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence medium
($/sqft used: 589)
Cross-check: comps say $770,412, BC Assessment × sale ratio says $730,536 (+6% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5726 Emily Way | 0.06 km | 1,360 | ~$729,371 | 536 | 2026-03-16 | ✓ |
| 6270 Homestead Ave | 0.26 km | 1,284 | ~$756,710 | 589 | 2026-01-21 | ✓ |
| 5641 Nickerson Rd | 0.35 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| 6307 Homestead Ave | 0.36 km | 1,403 | ~$776,238 | 553 | 2026-01-24 | ✓ |
| 5636 Cascade Cres | 0.38 km | 1,284 | ~$721,364 | 562 | 2026-07-18 | ✓ |
| 5592 Curtis Pl | 0.59 km | 1,358 | ~$974,447 | 718 | 2025-11-14 | ✓ |
| 6472 Jasper Rd | 0.99 km | 1,163 | ~$750,852 | 646 | 2026-07-01 | ✓ |
| 5808 Anchor Rd | 2.06 km | 1,056 | ~$780,144 | 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: $315,000, 2010-06-23 — asking +93.6%
| 2026-08-03 | new | 609900 first seen at $609,900 |
| 2026-07-30 | Price Changed | $609,900 GVR |
| 2026-07-03 | Price Changed | $634,900 GVR |
| 2026-06-05 | Price Changed | $654,900 GVR |
| 2026-05-05 | Price Changed | $675,000 GVR |
| 2026-04-08 | Listed | $699,000 GVR |
| 2010-06-23 | Sold (Public Records) | $315,000 Public Records |
| 2010-03-19 | Listed | $325,000 GVR |
| 2007-02-01 | Sold (Public Records) | $296,765 Public Records |
Zoning & land
R-3 — Small Lot Residential suite OK
Areas B/D/E/F: single-unit dwelling with a restricted second storey. Density is capped at one dwelling per parcel, but s.5.24.4 excludes secondary suites from that count, so a suite still works (wastewater carve-out aside). No auxiliary dwelling unit here. Area A: residential with auxiliary commercial — over 2000 m2 gets a duplex second unit OR one auxiliary dwelling unit. Sechelt R-3: SSMUH small-lot zone, suite plus up to 4 units. [Bylaw 722.9 s.7.3.2-7.3.3, s.5.24.4; Bylaw 337 s.621.1; Bylaw 580 s.1.3.2-1.3.4]
| PID | 026-899-914 |
|---|---|
| Parcel | 5708 LOUISE WAY (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $732,000 |
|---|---|
| Land / improvements | $451,000 / $281,000 (62% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.2 asking under assessment |
| BCA folio | 570.06421.150 |
Open questions
- 172 days on market — ask the listing agent why it hasn't moved.