$779,000 GREY
Description
Rating 17 /100
| Equity | 0/40 | -170,836 vs limit (-21.9% of ARV) | |
| Cash flow | 0/30 | -1,374/mo | |
| Suite-arb | 5.2/15 | zone permits a suite; other conditions short | |
| Motivation | 12.2/15 | 114d on market, 1 cut(s), 1 relist(s) |
Offer case
Price can't fix this. rent test — needs 3,126/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.
- 114 days on market vs a 60-day median.
- 1 price cut(s) already — the seller has shown they will move.
- 1 previous failed listing(s) — this seller has been here before.
- Asking $597/sqft where comparable homes sold at $495/sqft (+21%) — the ask is above the local clearing price.
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 |
|---|---|---|---|---|
| $779,000 | −$1,104 | −$1,374 | −$703 | −$1,014 |
| $740,050 −5.0% | −$948 | −$1,218 | −$547 | −$858 |
| $712,785 −8.5% | −$838 | −$1,108 | −$438 | −$748 |
Comps & ARV
ARV $781,464
range $707,768 – $966,487
(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 $768,645, BC Assessment × sale ratio says $811,374 (-5% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5641 Nickerson Rd | 0.22 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| 6270 Homestead Ave | 0.22 km | 1,284 | ~$756,710 | 589 | 2026-01-21 | ✓ |
| 6307 Homestead Ave | 0.29 km | 1,403 | ~$776,238 | 553 | 2026-01-24 | ✓ |
| 5726 Emily Way | 0.31 km | 1,360 | ~$729,371 | 536 | 2026-03-16 | ✓ |
| 5636 Cascade Cres | 0.38 km | 1,284 | ~$721,364 | 562 | 2026-07-18 | ✓ |
| 5592 Curtis Pl | 0.68 km | 1,358 | ~$974,447 | 718 | 2025-11-14 | ✓ |
| 6472 Jasper Rd | 1.04 km | 1,163 | ~$750,852 | 646 | 2026-07-01 | ✓ |
| 5808 Anchor Rd | 1.8 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
| 2026-08-27 | price_cut | 799900 → 779000 -2.6% |
| 2026-08-03 | new | 799900 first seen at $799,900 |
| 2026-08-26 | Price Changed | $779,000 GVR |
| 2026-06-10 | Listed | $799,900 GVR |
| 2019-05-12 | Listed | $609,900 GVR |
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 | 030-244-862 |
|---|---|
| Parcel | 5664 PARTRIDGE WAY (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $813,000 |
|---|---|
| Land / improvements | $502,000 / $311,000 (62% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.04 asking under assessment |
| BCA folio | 570.06416.535 |
Open questions
- Septic/well: age, last pump-out, and any permits on file? Get the well log and water potability test.
- 108 days on market — ask the listing agent why it hasn't moved.