$799,000 GREY
758 Gerussi Lane, Gibsons
3 bd · 2.0 ba · 1,341 sqft
· built 2012
· 116 DOM · MLS R3131918
Listing: Redfin search · fetched 2026-09-27T19:15
Description
Beautifully presented 3 bedroom rancher in the highly sought-after Parkland neighbourhood. This attractive home offers a spacious open-plan layout complemented by an array of premium finishes and thoughtful upgrades throughout. Features include top-down/bottom-up blinds, hardwood flooring, elegant crown mouldings, quartz worktops, a stylish kitchen island with Dave Coyle cladding & a raised breakfast bar. The generous living area boasts a contemporary feel, highlighted by a striking shiplap feature wall. The principal bedroom benefits from a walk-in wardrobe leading to a luxurious en-suite bathroom. Outside, the low-maintenance landscaping provides a true lock-up-and-leave lifestyle,
From listing remarks (RE/MAX City Realty)
Rating 8 /100
| Equity | 0/40 | -237,681 vs limit (-32.7% of ARV) | |
| Cash flow | 0/30 | -1,108/mo | |
| Suite-arb | 5.3/15 | zone permits a suite; other conditions short | |
| Motivation | 3.0/15 | 121d on market, no cuts — anchored seller |
Offer case
GREEN at $557,000 — that's $242,000 (30.3%) below the $799,000 ask. Long shot
That discount is
12.8× what this market normally concedes.
EVIDENCE
- Coast-wide, homes sell at 97.6% of list — a 2.4% discount is simply normal here.
- 121 days on market vs a 60-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
- Asking $596/sqft where comparable homes sold at $545/sqft (+9%) — the ask is above the local clearing price.
Support score 0.33 — evidence weight that this seller
would entertain the discount. Not a prediction; a checklist with numbers.
The four tests
Equity — FAIL
(price + $40,000 reno + PTT+legal closing) <= 85% x ARV
all-in = $799,000 + $40,000 + $16,480 = $855,480
ARV = $726,822 → limit = 85% × ARV = $617,799
margin = $-237,681 · at band low ($716,988): $-246,040 — GREEN needs this ≥ 0
Rent — PASS
est. rent >= 0.40% x ARV
est. rent = $3,300/mo (whole house (3bd) $3,300)
floor = 0.4% × ARV $726,822 = $2,907/mo
rents table: Gibsons · as of 2026-08-02
Cash flow — FAIL
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $3,201 (loan $639,200 @ 4.4%/30y)
+ tax $389 (mls) + ins $158 + maint $165 + vac $198 + PM $297
carrying = $4,408/mo · rent $3,300 → cash flow = $-1,108/mo (floor $-800)
Suite-arb — FAIL
zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median
zone RL-1 suite:yes · sqft 1,341 (min 1,900)
suite language: no · $/sqft 596 vs median 494
Scored 2026-10-02T05:55 · thresholds from criteria.yaml
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $3,300 typical self-managed |
$3,300 typical PM |
$3,650 high self-managed |
$3,650 high PM |
|---|---|---|---|---|
| $799,000 | −$811 | −$1,108 | −$500 | −$828 |
| $759,050 −5.0% | −$651 | −$948 | −$340 | −$668 |
| $731,085 −8.5% | −$539 | −$836 | −$228 | −$556 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
ARV $726,822
range $716,988 – $759,602
(about half of comparable sales landed inside this band)
median $/sqft of 12 renovated size-matched sales (12 priced from list × measured sale ratio — ~3y registration lag) · confidence high
($/sqft used: 542)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 776 Geddes Rd | 5.13 km | 1,460 | ~$877,784 | 601 | 2026-02-19 | ✓ |
| 304 Esplanade Rd | 6.63 km | 1,733 | ~$937,246 | 541 | 2026-06-15 | ✓ |
| 4598 Whitaker Rd | 14.53 km | 1,707 | ~$712,772 | 418 | 2026-02-03 | ✓ |
| 4657 Whitaker Rd | 14.71 km | 1,104 | ~$781,022 | 707 | 2025-10-08 | ✓ |
| 5750 Spindrift St | 18.27 km | 1,176 | ~$556,548 | 473 | 2026-05-10 | ✓ |
| 5808 Anchor Rd | 18.73 km | 1,056 | ~$780,144 | 739 | 2026-02-20 | ✓ |
| 6242 Norwest Bay Rd | 19.93 km | 1,707 | ~$671,275 | 393 | 2025-10-19 | ✓ |
| 5641 Nickerson Rd | 20.37 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| ~ = 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
Seller basis: $679,000, 2021-07-05 — asking +17.7%
| 2026-08-03 | new | 799000 first seen at $799,000 |
| 2026-06-03 | Listed | $799,000 GVR |
| 2021-07-05 | Sold (Public Records) | $679,000 Public Records |
| 2021-06-14 | Listed | $679,000 GVR |
| 2019-11-29 | Sold (Public Records) | $550,000 Public Records |
| 2019-09-18 | Price Changed | $559,900 GVR |
| 2019-08-17 | Price Changed | $579,900 GVR |
| 2019-07-11 | Listed | $599,900 GVR |
| 2015-05-13 | Sold (Public Records) | $321,903 Public Records |
| 2014-08-01 | Listed | $337,999 GVR |
History: Redfin belowTheFold · fetched 2026-09-27T19:45
· events observed by Coastwatch
Zoning & land
RL-1 — RL-1 - Low-Density Residential Zone suite OK
Gibsons Low-Density Residential. Far stronger than a suite: THREE dwelling units on lots up to 280 m2 and FOUR on anything larger, max four units per building, 325 m2 GFA cap for a standalone dwelling. Rear building height of 6.5 m within 7.5 m of the rear lot line is what makes suites-above-garages and laneway homes work where there is a lane. Minimum lot area 280 m2. [gibsons.ca Bylaw 1342 s.2.2.1]
- Aquifer Protection DPA: Aquifer Protection Sub Area 3 — Aquifer protection DPA: septic siting and well drilling are constrained.
| PID | N/A |
|---|---|
| Parcel | 763 WRIGHT RD (Gibsons) |
| Wastewater | Town of Gibsons sewer service |
| Water | Gibsons Zone 3 - Gibsons Aquifer system |
| Fire protection | Gibsons/West Howe Sound FPA |
Town of Gibsons Zoning Bylaw (current, via Property Viewer service) · fetched 2026-08-03T05:46 · meanings from zoning_rules.yaml (verify before relying)
Assessment
Not fetched yet — runs with the next enrichment pass.
Open questions
- Aquifer Protection DPA: Aquifer Protection Sub Area 3: Aquifer protection DPA: septic siting and well drilling are constrained.
- 116 days on market — ask the listing agent why it hasn't moved.