$785,000 GREY
Description
Rating 8 /100
| Equity | 0/40 | -140,484 vs limit (-17.0% of ARV) | |
| Cash flow | 0/30 | -1,344/mo | |
| Suite-arb | 6.0/15 | zone permits a suite; other conditions short | |
| Motivation | 2.2/15 | 8d on market, 1 cut(s) |
Offer case
Price can't fix this. rent test — needs 3,297/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.
- Only 8 days on market — too fresh for a big discount.
- 1 price cut(s) already — the seller has shown they will move.
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 |
|---|---|---|---|---|
| $785,000 | −$1,074 | −$1,344 | −$674 | −$984 |
| $745,750 −5.0% | −$917 | −$1,187 | −$517 | −$827 |
| $718,275 −8.5% | −$807 | −$1,077 | −$407 | −$717 |
Comps & ARV
ARV $824,372
range $630,954 – $907,773
(about half of comparable sales landed inside this band)
median $/sqft of 12 renovated size-matched sales (12 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence medium
($/sqft used: 542)
Cross-check: comps say $824,382, BC Assessment × sale ratio says $824,348 (+0% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5833 Heron Pl | 2.59 km | 1,915 | ~$829,842 | 433 | 2025-11-10 | ✓ |
| 5750 Spindrift St | 2.85 km | 1,176 | ~$556,548 | 473 | 2026-05-10 | ✓ |
| 5726 Emily Way | 4.15 km | 1,360 | ~$729,371 | 536 | 2026-03-16 | ✓ |
| 6270 Homestead Ave | 4.27 km | 1,284 | ~$756,710 | 589 | 2026-01-21 | ✓ |
| 5641 Nickerson Rd | 4.3 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| 6307 Homestead Ave | 4.36 km | 1,403 | ~$776,238 | 553 | 2026-01-24 | ✓ |
| 6242 Norwest Bay Rd | 4.41 km | 1,707 | ~$671,275 | 393 | 2025-10-19 | ✓ |
| 5636 Cascade Cres | 4.45 km | 1,284 | ~$721,364 | 562 | 2026-07-18 | ✓ |
| ~ = 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
| 2026-09-25 | relist | time-on-market reset — relisted |
| 2026-09-25 | price_cut | 795000 → 785000 -1.3% |
| 2026-09-06 | delisted | absent from search results |
| 2026-08-03 | new | 795000 first seen at $795,000 |
| 2026-09-24 | Listed | $785,000 GVR |
Zoning & land
R-1 — Large Lot, Low Density Residential suite OK
Single-unit dwelling zone in all three bylaws, but the suite path differs. Areas B/D/E/F: suite permitted on any parcel EXCEPT inside an SCRD wastewater service area — check that first, it is the one thing that kills it outright. Also an auxiliary dwelling unit over 2000 m2 and a second single-unit dwelling over 3500 m2. Area A: no general suite right at all; an auxiliary dwelling unit needs over 2000 m2, a second dwelling needs 4000 m2. Sechelt R-1: secondary suite is a listed accessory use, plus a detached accessory dwelling unit at 2000 m2 and up (unsewered large-lot zone). [Bylaw 722.9 s.5.1.1(h), s.5.24.1, s.7.1.2; Bylaw 337 s.601.1; Bylaw 580 s.1.1.2-1.1.3]
| PID | 028-813-723 |
|---|---|
| Parcel | 6222 SITKA RD (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $826,000 |
|---|---|
| Land / improvements | $496,000 / $330,000 (60% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.05 asking under assessment |
| BCA folio | 570.04475.040 |
Open questions
- Septic/well: age, last pump-out, and any permits on file? Get the well log and water potability test.